.......with the primary intention of benefiting retail brokers. This was Metaquote's focus from the beginning. MetaTrader wasn't designed for the small retail trader, as 98% of the users of this platform are. MT5 looks a little more grown up, but is still completely designed from the broker's perspective, not the trader's perspective.
If a trader was to spend a little time looking at the various EXCHANGE routed brokers, (and research currency futures contracts which also are now available in the mini format, like the E-Mini of Dow Jones, etc.) they would find that there are a few intuitive platforms that are more beneficial for the TRADER, but remember, these brokers will NOT give leverage of 100 to 1 or 200 to 1. (The exchanges are not perfect places either, but they have a lot more safety, security and trading possibilities that the retail brokers cannot and do not provide).
The open source format by which so many have participated in and shared freely (for the most part) with all their creative coding and interesting approaches to various styles of analyzing the price changes in the FX market, (especially through MT4), has just been vacuumed away and all of the coding has to start from scratch, again, as they did when MT3 became MT4.
The TRADER's interest is not Metaquotes focus; the Retail Broker is their interest. Please don't be fooled into thinking that your local retail broker who offers you MT to trade the FX market has your best interests in mind. Approx. 90% of retail FX traders fail at trading this market, but the retail brokers continue to make it so sexy at 100 to 1 or 200 to 1, that they are constantly getting new blood, when the burnt-out traders gave the money in their trading accounts to the brokers. Please make no mistake about this flow of trades in the retail sector.
Please examine the exchanges (they have their games as well, but your trades and the trades of others are much more transparent and a trader can actually start to use EXCHANGE VOLUME as an articulate analytical tool, which has been completely absent from the retail sector of trading, as the retail broker are on the other side of the trade. Please realize that when you trade retail FX, your trade does NOT go out into the open market, like a futures contract on an exchange does. The retail broker of FX is the other side of the trade, regardless of all the misinformation and fancy advertisements of "No Dealing Desk" options that can be perpetrated onto newly inducted traders, like sirens to the rocks.
For MetaQuotes to have witnessed all the programming development for the past number of years that the individual traders, programmers and researchers have invested into working with the coding limitations of MT4 (and which many have shared this coding with the entire community - including all the wonderful Russian programming that has been shared through other forums) and then to make a new platform, MT5, which will not allow all of these millions of hours of programming by TRADERS not to be utilized by MT5, is an OBVIOUS SIGN that the trader is not their interest, the Retail Broker is their interest. Who do you think pays for this when it is free to the trader???? Open your eyes traders, learn and play on MT4 / MT5 and move to the exchanges to trade. Less leverage, more integrity, volume statistics, transparency, brokers not on the other side of the trade, and platforms that use current programming languages are the alternatives to MT4/5.
Please do not PM me and ask for recommendations. I won't respond. This is part of YOUR trading journey and of self discovery. Follow your intuition and awareness. The new traders will have to be burnt by the Retail fire, as so many of us have, but this will open their eyes, too, as all traders who withstand the Retail storms and move on to more mature pastures.
May your eyes be opened, may your greed be contained. May your fears be faced and your goals clearly defined. There is grift everywhere in the financial world and most are blind to it. But those who know where the rocks are when they sail their boat can avoid collision and enjoy the thrill and freedom of the open water and wind. This is my wish for you all. (BUT, if all of you start trading profitably, your retail broker will go out of business!!) LOL. This will make sense to some, but not to most of the others.
I hope this post will not be censored.
Peace and clarity,
pipsqueak4x
If a trader was to spend a little time looking at the various EXCHANGE routed brokers, (and research currency futures contracts which also are now available in the mini format, like the E-Mini of Dow Jones, etc.) they would find that there are a few intuitive platforms that are more beneficial for the TRADER, but remember, these brokers will NOT give leverage of 100 to 1 or 200 to 1. (The exchanges are not perfect places either, but they have a lot more safety, security and trading possibilities that the retail brokers cannot and do not provide).
The open source format by which so many have participated in and shared freely (for the most part) with all their creative coding and interesting approaches to various styles of analyzing the price changes in the FX market, (especially through MT4), has just been vacuumed away and all of the coding has to start from scratch, again, as they did when MT3 became MT4.
The TRADER's interest is not Metaquotes focus; the Retail Broker is their interest. Please don't be fooled into thinking that your local retail broker who offers you MT to trade the FX market has your best interests in mind. Approx. 90% of retail FX traders fail at trading this market, but the retail brokers continue to make it so sexy at 100 to 1 or 200 to 1, that they are constantly getting new blood, when the burnt-out traders gave the money in their trading accounts to the brokers. Please make no mistake about this flow of trades in the retail sector.
Please examine the exchanges (they have their games as well, but your trades and the trades of others are much more transparent and a trader can actually start to use EXCHANGE VOLUME as an articulate analytical tool, which has been completely absent from the retail sector of trading, as the retail broker are on the other side of the trade. Please realize that when you trade retail FX, your trade does NOT go out into the open market, like a futures contract on an exchange does. The retail broker of FX is the other side of the trade, regardless of all the misinformation and fancy advertisements of "No Dealing Desk" options that can be perpetrated onto newly inducted traders, like sirens to the rocks.
For MetaQuotes to have witnessed all the programming development for the past number of years that the individual traders, programmers and researchers have invested into working with the coding limitations of MT4 (and which many have shared this coding with the entire community - including all the wonderful Russian programming that has been shared through other forums) and then to make a new platform, MT5, which will not allow all of these millions of hours of programming by TRADERS not to be utilized by MT5, is an OBVIOUS SIGN that the trader is not their interest, the Retail Broker is their interest. Who do you think pays for this when it is free to the trader???? Open your eyes traders, learn and play on MT4 / MT5 and move to the exchanges to trade. Less leverage, more integrity, volume statistics, transparency, brokers not on the other side of the trade, and platforms that use current programming languages are the alternatives to MT4/5.
Please do not PM me and ask for recommendations. I won't respond. This is part of YOUR trading journey and of self discovery. Follow your intuition and awareness. The new traders will have to be burnt by the Retail fire, as so many of us have, but this will open their eyes, too, as all traders who withstand the Retail storms and move on to more mature pastures.
May your eyes be opened, may your greed be contained. May your fears be faced and your goals clearly defined. There is grift everywhere in the financial world and most are blind to it. But those who know where the rocks are when they sail their boat can avoid collision and enjoy the thrill and freedom of the open water and wind. This is my wish for you all. (BUT, if all of you start trading profitably, your retail broker will go out of business!!) LOL. This will make sense to some, but not to most of the others.
I hope this post will not be censored.
Peace and clarity,
pipsqueak4x