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LMAX = revolution?!?

  • #201
  • Oct 11, 2011 8:32am Oct 11, 2011 8:32am
Quoting ReaM
Does anyone know, if the spread will widen with MT4 or Multichats?

I really am looking forward to MC


I dont think so, did Oanda widen their spreads on MT ? no
  • #202
  • Oct 12, 2011 5:42am Oct 12, 2011 5:42am
http://www.lmaxtrader.co.uk/trading-...ms/multicharts
Quote
Deposit a minimum of $5,000 (or base account currency equivalent) to receive a free LMAX MultiCharts login for the remaining of 2011.
Thereafter, your LMAX account will be charged $60/month unless you trade a minimum of 250 contracts/month.
  • #203
  • Oct 12, 2011 5:56am Oct 12, 2011 5:56am
Quote
your LMAX account will be charged $60/month unless you trade a minimum of 250 contracts/month.

A good reason to wait for the release of Lmax MT4.
  • #204
  • Oct 12, 2011 7:32am Oct 12, 2011 7:32am
Bare in mind they work in minis (10,000), so it's only 25 full lots.
"I made all my money by selling too soon"
  • #205
  • Oct 12, 2011 9:08am Oct 12, 2011 9:08am
Quoting Bleek
Bare in mind they work in minis (10,000), so it's only 25 full lots.
dice man !

Wanna talk with u about some MM concepts..... mind to add me on skype?

'' BO.onas '' ---- would be rly appreciated

kindest regards,
Jonas
Hero calls followed by margin calls...
  • #206
  • Edited 12:48pm Oct 12, 2011 12:34pm | Edited 12:48pm
Am I right in assuming that lmax offers no limit* orders, only stop orders? And no slippage control?


*In my understanding a limit order means that I want to trade up to the supplied limit, and not when that limit is reached (which is a stop order).
  • #207
  • Oct 12, 2011 2:26pm Oct 12, 2011 2:26pm
Quoting m.m.m.
Am I right in assuming that lmax offers no limit* orders, only stop orders? And no slippage control?


*In my understanding a limit order means that I want to trade up to the supplied limit, and not when that limit is reached (which is a stop order).
They have both STOP and LIMIT orders (and market of course).

You can protect your positions with stop market and stop limit, market will obviously will fill regardless and may slip (the most I see 1 pip, typically it's 0 to 0.3 pips) the other will only fill at your desired price but as a result you might not get a complete fill. Same with any direct 'broker'.

Quote
Market orders are always filled, so the stop loss order will also always be filled, and the trade will definitely be exited. However, market orders are filled at the currently available best price (the bid price for a sell order, and the ask price for a buy order), which means that the stop loss could be filled at potentially any price.

Personally I ALWAYS use market orders to exit because they guarantee the one thing I want, an EXIT!
"I made all my money by selling too soon"
  • #208
  • Oct 12, 2011 3:07pm Oct 12, 2011 3:07pm
Quoting PhAnTi'
dice man !

Wanna talk with u about some MM concepts..... mind to add me on skype?

'' BO.onas '' ---- would be rly appreciated

kindest regards,
Jonas
I've sent you a PM, let me know if you can reply to it.
"I made all my money by selling too soon"
  • #209
  • Oct 12, 2011 3:14pm Oct 12, 2011 3:14pm
@Bleek

I see, thank you. Yes, I tried it out on the (web) demo. Well, I was looking at the java-api and currently there is only a market and a limit order specification, so I presume that it's either a limit order in the sense of a stop order, or there is no stop order (have not yet tried to trade via that api, so don't know).
  • #210
  • Oct 12, 2011 9:58pm Oct 12, 2011 9:58pm
Quoting m.m.m.
@Bleek

I see, thank you. Yes, I tried it out on the (web) demo. Well, I was looking at the java-api and currently there is only a market and a limit order specification, so I presume that it's either a limit order in the sense of a stop order, or there is no stop order (have not yet tried to trade via that api, so don't know).
maybe you only see the "Quick ticket" view.
You can pop-up a "deal ticket" window if you click the "Expand ticket" button(or click any instrument and pop-up the same window in the "List" view).
then you can see there are 3 order types(market/limit/stop).
  • #211
  • Oct 12, 2011 10:07pm Oct 12, 2011 10:07pm
Quoting Bleek
They have both STOP and LIMIT orders (and market of course).

You can protect your positions with stop market and stop limit, market will obviously will fill regardless and may slip (the most I see 1 pip, typically it's 0 to 0.3 pips) the other will only fill at your desired price but as a result you might not get a complete fill. Same with any direct 'broker'.



Personally I ALWAYS use market orders to exit because they guarantee the one thing I want, an EXIT!
What does "stop limit" mean?
LMAX has stop market, but not limit.
  • #212
  • Oct 13, 2011 1:09am Oct 13, 2011 1:09am
Quoting ptarmigan
maybe you only see the "Quick ticket" view.
You can pop-up a "deal ticket" window if you click the "Expand ticket" button(or click any instrument and pop-up the same window in the "List" view).
then you can see there are 3 order types(market/limit/stop).
Yes, I have seen it now. I was referring to the java-api (java client library) for automated trading. I have successfully connected my software via that api, but have not yet implemented the trading functionality.
  • #213
  • Oct 13, 2011 2:39am Oct 13, 2011 2:39am
Quoting ptarmigan
What does "stop limit" mean?
LMAX has stop market, but not limit.
Instead of setting a stop on the ticket, place a separate limit order as your stop.

Doing so will guarantee the price of your stop but not your fill.
"I made all my money by selling too soon"
  • #214
  • Oct 13, 2011 2:54am Oct 13, 2011 2:54am
Quoting m.m.m.
@Bleek

I see, thank you. Yes, I tried it out on the (web) demo. Well, I was looking at the java-api and currently there is only a market and a limit order specification, so I presume that it's either a limit order in the sense of a stop order, or there is no stop order (have not yet tried to trade via that api, so don't know).
The stop-order for entry may have not yet made it into the api - that was not available in the web-platform for some time either. A stoploss order that is attached to an existing position is possible through the api right now tho.
  • #215
  • Oct 13, 2011 3:13am Oct 13, 2011 3:13am
Quoting shrike
The stop-order for entry may have not yet made it into the api - that was not available in the web-platform for some time either. A stoploss order that is attached to an existing position is possible through the api right now tho.
That's true, in the early days I chased them quite a bit to implement Stop-Limit orders.
"I made all my money by selling too soon"
  • #216
  • Oct 13, 2011 4:24am Oct 13, 2011 4:24am
seem to be an intesting broker,
I must say I had my doubt about them when they first started,
but they are looking better and better.
so are you guys happy with them so far?
are anyone using Multicharts? thats a great platform!
I saw they are charging 60 month for it,
what if you already own it? free?
Bulls are stupid Animals!especially when Im short!
  • #217
  • Oct 13, 2011 4:50am Oct 13, 2011 4:50am
Quoting roughtrader
seem to be an intesting broker,
I must say I had my doubt about them when they first started,
but they are looking better and better.
so are you guys happy with them so far?
are anyone using Multicharts? thats a great platform!
I saw they are charging 60 month for it,
what if you already own it? free?
Apparently existing license holders are out of luck, i have asked both Multicharts as well as LMax. The $60 are cheaper than the regular $100, granted, but paying 2x for the same software sucks. I'm not sure why they do it this way, if Multicharts would have added them as regular broker-connection, it would have been better for everyone (the free MC version would have been available then). Maybe the problem is Multicharts being dicks about it, or LMax - i dont know. I also dont know if its possible with the LMax Multicharts to use additional brokers at the same time, which i think is a great feature of the regular MC.
  • #218
  • Oct 13, 2011 5:19am Oct 13, 2011 5:19am
Quoting roughtrader
seem to be an intesting broker,
I must say I had my doubt about them when they first started,
but they are looking better and better.
so are you guys happy with them so far?
I have a Currenex 50k deposit account, in fact I had two at one point, and whilst I really like the feel and features of the feed and platforms offered, for the capital outlay they don't represent value for money.

LMAX is like a stripped down Currenex, it's simple and effective on the surface with what appears to be solid mechanics at it's core. This is my personal experience and I've been with them a year.

People look to the 'Currenex gods' expecting them to be worlds apart from their current Bucket or ECN broker, the fact is unless you're trading large lots (many million notional) the difference is minimal. Yes the spreads are tighter on a 'professional' account but the market moves in the same way regardless of which platform you log in to.

New and old retail traders alike feel like their broker works against them, typically when they get stopped out and the market moves on without them. This is fallacy, compared price feeds from a bucket, and ECN and a Currenex account and you'll see for yourself. People get stopped out because they entered wrong and positioned themselves in the line of fire.

I will say however this is why I don't use MT4, I recently tried it on two major brokers and I felt like the platform lagged slightly, neither feeds were instantaneous for placing orders and closing orders - both had delays and re-quoting, and felt 'disconnected' from the market.

When I click 'close' I want it gone to market the moment I click, faster than I can blink, filled and forgotten.

Just my personal opinion, perhaps the raw execution pace of LMAX and Currenex has spoilt me?

Anyway...

I have since closed one of my currenex accounts, withdrawn the money and traded on LMAX instead. LMAX don't require me to have 50k in the account (why should they) and they offer similar spread, execution speed and from what I can see trading liquidity.

So in summary I highly recommend them as I have no reason not to.
"I made all my money by selling too soon"
  • #219
  • Oct 13, 2011 10:26am Oct 13, 2011 10:26am
I'll second that, Lmax offer the equivalent of a trimmed down currenex platform without the financial requirements.

If you've been using an mt4 bucketshop the difference is huge. You have the security of knowing that when you hit the buy, sell or close button that it will happen - even during news, the fills are instantaneous, whereas with Alpari there was always a delay whilst the software "thought about it" and often requoted. The only negatives are the no frills, quite basic ticket windows, although I think they're working on improving them. They've already added a close button that was one of my recommendations to them, and I hope they'll soon improve the somewhat tedious way of entering your stop loss and take profit. I'm looking forward to trying out multicharts.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #220
  • Oct 13, 2011 10:53am Oct 13, 2011 10:53am
Quoting Trader131
and I hope they'll soon improve the somewhat tedious way of entering your stop loss and take profit.
I've asked them for a 'default' button to save your lots/contracts, tp and sl settings. Hopefully they'll implement it.
"I made all my money by selling too soon"
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