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MT4 brokers : The complaints

  • #1
  • First Post: Apr 14, 2009 11:38am Apr 14, 2009 11:38am
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
There are lots of arguments and complaints as to the efficiency and / problems caused to traders by some of the MT4 brokers…too many Re-quotes, slippages, delays in accepting entries, and some asking many times for confirmation of entries.
All these lead to time wastages and eventually one is fielded at a price not convenient. However , there is another argument that out there exist good MT4 brokers with better services.With these variances, it shows that each broker has its own “setting”.
Now, where is that ‘better’ MT4 broker. Many traders have a hard time with this problems. How can a traders (especially the new ones) get over the highlighted problems. By adopting a particular trading style, can one minimize this problems? Lets rub minds , share problems encountered and the good side of your broker , if any.
I like the Big Dogs because I trade like them
  • #2
  • Apr 14, 2009 12:08pm Apr 14, 2009 12:08pm
These "problems" should only hurt you if you are scalping or trading with very tight stops and limits.

If you are trading this way, you should not be using MT4.
  • #3
  • Edited 1:46am Apr 15, 2009 1:19am | Edited 1:46am
I have been told that when people use Buy Limit and Sell Limits to enter the market, slippage etc... does not occur, because, if the price slips it goes in your favour.

Buy Limit and Sell Limit when used correctly, increase the number of pips of your profitable trades and decrease the number of pips of the losses.

Hence overall the profit to loss ratio becomes greater if you can mantain the same proportion of profitable trades to loss trades.

It has also been shown that people who use Buy Limit and Sell Limit are significantly more likely to be profitable in the long run. This is defnitely not a guarantee, because if you're hopeless at trading you will still be hopeless. But a good method that uses Buy/Sell Limit orders is a great option.

Buy Limit and Sell Limit is the way to go.
  • #4
  • Apr 15, 2009 1:27am Apr 15, 2009 1:27am
Quoting FrankTheTank
These "problems" should only hurt you if you are scalping or trading with very tight stops and limits. If you are trading this way, you should not be using MT4.
I dont agree! I've had many trades that come within 1 to 5 pips of TakeProfit. A slipped entry can easily cost me 1 to 20 points. How many trades will this cost me over the course of a year!?
  • #5
  • Apr 15, 2009 2:57pm Apr 15, 2009 2:57pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting FrankTheTank
These "problems" should only hurt you if you are scalping or trading with very tight stops and limits.

If you are trading this way, you should not be using MT4.

Im not a scalp trader. But I wonder if this can be the solution to those that scalp .Hm

Buy / sell limit ,no problem...

At least the problems originally brought up is being tackled !!!!!!!!!!!!
I like the Big Dogs because I trade like them
  • #6
  • Apr 19, 2009 3:39am Apr 19, 2009 3:39am
There are two technologies of execution in MT4. Market Executive and Market Instant. You speak about the second Market Instant. It is applied almost at all brokers.
Its lack that it is impossible to expose at once stop loss and take profit. At first it is necessary to open the order, and after to establish stops.

Therefore I have chosen the broker with technology Market Executive.
  • #7
  • Apr 21, 2009 12:58pm Apr 21, 2009 12:58pm
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Quoting Arpeccop
There are two technologies of execution in MT4. Market Executive and Market Instant. You speak about the second Market Instant. It is applied almost at all brokers.
Its lack that it is impossible to expose at once stop loss and take profit. At first it is necessary to open the order, and after to establish stops.

Therefore I have chosen the broker with technology Market Executive.
T.M.E :where could that be ?
I like the Big Dogs because I trade like them
  • #8
  • Apr 22, 2009 11:39am Apr 22, 2009 11:39am
Quoting zykas
T.M.E :where could that be ?
Broker?
  • #9
  • Apr 27, 2009 2:42am Apr 27, 2009 2:42am
  •  zykas
  • | Joined Oct 2008 | Status: ... measure thrice, but cut once | 196 Posts
Therefore I have chosen the broker with technology Market Executive. [/quote]


Could you share such names with tech market executive. lol
I like the Big Dogs because I trade like them
  • #10
  • Last Post: Apr 28, 2009 3:31am Apr 28, 2009 3:31am
Quoting zykas
Could you share such names with tech market executive. lol
Could. Broco - brocompany.com
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