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MT4 Brokers' Virtual Dealer Plug-In

  • #561
  • Aug 11, 2010 6:00am Aug 11, 2010 6:00am
alternative

http://ninjatrader.com
  • #562
  • Aug 12, 2010 9:44pm Aug 12, 2010 9:44pm
Quoting cogs
Here is the manual for some light reading.
"Confidential document removed"

Is someone trying to hide the dirt?
  • #563
  • Aug 12, 2010 10:12pm Aug 12, 2010 10:12pm
Quoting ak_marshal
Pls, ...do expert advisors work on MetaTrader 4 for windows mobile or iPhone?
no, only the desktop terminal
BarrySDCA Commercial Network Services
  • #564
  • Aug 12, 2010 10:13pm Aug 12, 2010 10:13pm
Quoting mr.az
alternative

http://ninjatrader.com
ninja trader is good but tends to use a lot of ram. I'm not sure it would get around a virtual dealer plugin though

seems any broker would be shooting themselves in the foot by running it
BarrySDCA Commercial Network Services
  • #565
  • Aug 13, 2010 2:19am Aug 13, 2010 2:19am
Quote
"Confidential document removed"

Is someone trying to hide the dirt?

Without doubt I would say. I am surprised I have been allowed to post here again. I have a copy of the .pdf if anyone wants to PM me.

If they have nothing to hide someone would have come here to defend the plugin. I see many try to change the topic and detract from the truth.
My comments are not to be taken as trading advice, not a financial advisor
  • #566
  • Aug 14, 2010 4:06pm Aug 14, 2010 4:06pm
Quoting cogs
Without doubt I would say. I am surprised I have been allowed to post here again. I have a copy of the .pdf if anyone wants to PM me.

If they have nothing to hide someone would have come here to defend the plugin. I see many try to change the topic and detract from the truth.
I would love to see the PDF manual for the plug-in. Could you please upload to a file sharing site like multiupload and either post the link here or send me a link via PM?

Best regards,
c4p
  • #567
  • Aug 15, 2010 2:28am Aug 15, 2010 2:28am
Here you go: http://www.multiupload.com/HJFBCSDTW5
My comments are not to be taken as trading advice, not a financial advisor
  • #568
  • Aug 16, 2010 7:24am Aug 16, 2010 7:24am
Quoting doji
What I'm wondering about is why, with such explicit evidence as the above, the NFA has not summoned or sanctioned Boston Technologies itself?
Correct me if I am wrong, but Boston Technoogies are a technology company, not a broker and as such can create whatever software they want? It is up to the broker to do what ever. Some brokers have dealers so are surely free to use a virtual dealer? Anyway, I was told that it was actually made by metaquoes, not Boston.
  • #569
  • Aug 26, 2010 9:37am Aug 26, 2010 9:37am
Attachment
Quoting XTrade
Also in reference to the ECN slippage,

Stop losses and Take Profit orders are in not as I many (newer traders) may think.

A MM is supposed to Guarantee stops and TPs to whatever range is in the agreement. Or by a setting you may use.

So the trade hits the stop and you are out.

In the ECN environment and in truth Stops and TPs are really just other open "pending orders placed if you are long a stop and limit are both pending sell orders one Higher(TP) and one lower (sl) from entry. to close the initial buy.

Thus,

Slippage happens when...

I had the personal experience of my stop being slipped just now when the US Jobless Claims news came out. (26 August 2010 8.30am New York time)

I had my buy stop at 131.22 with a slippage of 1 pip but was filled 131.38.
Attached Image (click to enlarge)
Click to Enlarge Name: stop slippage.png Size: 12 KB
  • #570
  • Sep 15, 2010 5:16am Sep 15, 2010 5:16am
Quoting doji
What I'm wondering about is why, with such explicit evidence as the above, the NFA has not summoned or sanctioned Boston Technologies itself?
NFA says, "Currently, the NFA does not have jurisdiction over the firms (like Panda Technologies) that design software applications that some of our members use. Therefore, we cannot audit them, or investigate any customer inquiries that come into our database for those companies."

So target the broker. Someone needs to write an MQ4 app, LOL, that records in systematic detail brazenly slipped stops or other systematic price anomalies. NFA then can go after a broker, I assume, if it's brazen, per the case against GAIN above.

But it's not just MT4. Firms design/use their own internal bucket apps. The games at GFT in Dealbook were unbelievable when I was there (systematic freezing, etc.).

Doesn't seem much has changed with some co's since Livermore's time in bucketshops. Now the bucket's a software app. Works much better!
  • #571
  • Sep 16, 2010 11:56am Sep 16, 2010 11:56am
does stp (straight through processing) broker practice using virtual dealer plug in?

kindly let me know

thanks
  • #572
  • Sep 17, 2010 10:04am Sep 17, 2010 10:04am
Quoting melode
does stp (straight through processing) broker practice using virtual dealer plug in?

kindly let me know

thanks
From what I see about this plugin is that it would work only for a market maker bucketshop style broker, and not for a true ECN/STP type.
  • #573
  • Sep 17, 2010 10:07pm Sep 17, 2010 10:07pm
Quoting oakmonster
From what I see about this plugin is that it would work only for a market maker bucketshop style broker, and not for a true ECN/STP type.
It can be installed with any broker that offers a Metatrader platform. Keep in mind an STP is also a bucketshop because it buckets (passes through) to a dealing desk.

And those brokers that have a different platform can create their own plugin.
  • #574
  • Sep 18, 2010 4:30am Sep 18, 2010 4:30am
Quoting PipStar
It can be installed with any broker that offers a Metatrader platform. Keep in mind an STP is also a bucketshop because it buckets (passes through) to a dealing desk.

And those brokers that have a different platform can create their own plugin.
I think you are confused about what a bucketshop is. A bucketshop is a company masquerading as a market maker broker that puts no trades to market. Everything is kept in house and their clients are trading in a demo like environment. All deposits go directly into the pocket (bucket) of the broker.

STP orders are routed via an ECN prime broker where various small orders are aggregated into an amount large enough (100k or larger) to go to the ECN market. Unlike a market maker, an STP broker doesn't have or need a hedged netting position where they take opposing positions to their traders.

There is a difference
  • #575
  • Sep 19, 2010 1:29am Sep 19, 2010 1:29am
Quoting oakmonster
STP orders are routed via an ECN prime broker where various small orders are aggregated into an amount large enough (100k or larger) to go to the ECN market. Unlike a market maker, an STP broker doesn't have or need a hedged netting position where they take opposing positions to their traders.
I am well aware what a bucketshop is and I've been taking money from them for the past 5 years http://cdn.forexfactory.com/images/s.../yim/happy.gif. But I've got to say that the confusion is mostly on your side because you are assuming that an STP always routes to an ECN network. Sure, some STP's route to ECN brokers. But many brokers who claim to be STP are just middlemen brokers who route to market makers but these middlemen call themselves STP because they are passing trades through to someone else. Many of the STP's fall into this category.

And by the way if you read ECN brokers terms and conditions it states that the broker may at times be the counterparty to your trades thus at times matching trades and at other times acting as market maker.
  • #576
  • Sep 19, 2010 2:14am Sep 19, 2010 2:14am
Quoting PipStar
I am well aware what a bucketshop is and I've been taking money from them for the past 5 years http://cdn.forexfactory.com/images/s.../yim/happy.gif. But I've got to say that the confusion is mostly on your side because you are assuming that an STP always routes to an ECN network. Sure, some STP's route to ECN brokers. But many brokers who claim to be STP are just middlemen brokers who route to market makers but these middlemen call themselves STP because they are passing trades through to someone else. Many of the STP's fall into...
pipstar,

Thanks for the info,

what is your opinion on fxopen and go markets?

fxopen have ecn/stp and go markets -stp. Is it possible there are market makers?
  • #577
  • Edited Sep 20, 2010 12:59am Sep 19, 2010 9:23pm | Edited Sep 20, 2010 12:59am
Quoting melode
pipstar,Thanks for the info,what is your opinion on fxopen and go markets?
fxopen have ecn/stp and go markets -stp. Is it possible there are market makers?
I have used the fxopen market maker platform but didn't like it because as per their rules you have to hold trades for 2 minutes before you can close.
But I have not used the FXopen ECN platform which I hear is routing to dukascopy so you would have to think that this platform is true ECN.

Go Markets is not an ECN but claims to be STP so they must be routing to a dealing desk market maker. See the Go Markets thread in this forum, there is plenty of info there.
Edit: An STP can also route to a liquidity provider like a bank for example.
  • #578
  • Sep 19, 2010 10:13pm Sep 19, 2010 10:13pm
I asked GoMarkets about this and they claim they do not use the VDP as they are STP, I have no idea how they would be sending off to a MM as their spread varies and most MM spreads tend to stay the same.

Quoting PipStar
Go Markets is not an ECN but claims to be STP so they must be routing to a dealing desk market maker. See the Go Markets thread in this forum, there is plenty of info there.
  • #579
  • Sep 19, 2010 10:30pm Sep 19, 2010 10:30pm
Quoting PipStar
I am well aware what a bucketshop is and I've been taking money from them for the past 5 years http://cdn.forexfactory.com/images/s.../yim/happy.gif. But I've got to say that the confusion is mostly on your side because you are assuming that an STP always routes to an ECN network. Sure, some STP's route to ECN brokers. But many brokers who claim to be STP are just middlemen brokers who route to market makers but these middlemen call themselves STP because they are passing trades through to someone else. Many of the STP's fall into...
A true STP connection should go straight to a liquidity provider, like a bank instead of a market maker or similar.
  • #580
  • Sep 19, 2010 10:46pm Sep 19, 2010 10:46pm
I know everyone is worried about the virtual dealer plugin which helps the brokers take to the other side....

However has anyone also thought about what effects these price manipulations due to the plugin have on the charts and how all technical indicators are of no use when used with these broker induced price fluctuations data feed.

I just want to know with this plug-in in place, how many believe that their broker's data feed is clean?? Do you think we need a standardized clean feed of forex prices which can be compared against any/all brokers at any point in time which will give a sense of how much % the plug-in is in favor of the brokers...

Every forex trader with MT4 is right now beating around the bush and just doesn't know how this is going to churn out except placing complaints with NFA... but MT4 is too good platform for any trader to throw it away and move to any other broker's own platform where there is no guarantee that the own platform doesn't have internally induced plug-in's.

What I think is currently needed is a base line of the feed which can act as a comparison and a indicator in MT4 which compares the broker's feed with this base line feed and points out the % of fluctuation which will give a bigger picture about the broker real intentions and can be captured for showing proof while filing complaints.

Not sure how many of you agree with me...!!


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