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LMAX = revolution?!?

  • #221
  • Oct 13, 2011 11:00am Oct 13, 2011 11:00am
Great, I have too, and it would make life a lot easier, as I find myself trading in and out of the flow a lot more with LMAX (just because I can!), and it does my head in setting a stoploss everytime at the moment!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #222
  • Oct 13, 2011 11:39am Oct 13, 2011 11:39am
If you enter orders a lot the webplatform is indeed a bit tiresome. I guess it shows that software devs are no traders. Then again most other brokers platforms suck in this department too.

IMO currenex has it just right. I can specify a price and enter a limit order with just 2 mouseclicks. On Lmax, i have to type in the price. Up/Down buttons as well as curser keys are in 0.1 pip increments, which is useless. The enter-key does nothing. It would be nice if atleast the mousewheel would work to incerement/decrement price or quantity. Or if i could set up shortcuts and use the numpad for orderentry.

These are all small things, but they matter. I guess the software developers aren't even aware that this needs improvement. On the positive side, at least what they have now works, and reliably so.
  • #223
  • Oct 13, 2011 11:46am Oct 13, 2011 11:46am
Quoting shrike
On the positive side, at least what they have now works, and reliably so.
Actually that's one thing I neglected to mention.

I have NEVER had a single issue placing or closing an order and I've placed over 300 trades with LMAX this year.

I'm not sure there are many other platforms out there where you could say the same, clearly I've taken the reliability and execution for granted!
"I made all my money by selling too soon"
  • #224
  • Oct 13, 2011 11:53am Oct 13, 2011 11:53am
Quoting Trader131
... whereas with Alpari there was always a delay whilst the software "thought about it" and often requoted.
Omg I hate Alpari, the biggest crap broker that the world has seen. If you close the trade manually, the price wonders five seconds before actually closing the trade. Since I take profit on spikes, the price always comes back and I sometimes get a break even or even a loosing trade isntead of full win.

I love Oanda's platform with one click (I use one click trading over there). It enters the trade instantly, with SL and TP set which can be modiefied in just a few more clicks. I hope to get that experience with LMAX.

I used demo MC for stocks long time ago, I love it. It has automated trading etc built in, clean charts, grid on round numbers (yes, metatrader, yes).
I found a penny today. That's +100 pips for me.
  • #225
  • Oct 14, 2011 3:55am Oct 14, 2011 3:55am
Good points, Shrike. but I suppose if you sign up to multicharts, then you don't need webtrader and its idiosyncracies. I've been looking at the multicharts website, and it looks like it has all we need and more.

"MultiCharts is an award-winning trading platform. Whether you are a new trader or a professional, MultiCharts has features that may help you achieve your trading goals. High-definition charting, built-in indicators and strategies, one-click trading from chart and DOM, high-precision backtesting, brute-force and genetic optimization, automated execution and support for EasyLanguage scripts are all key tools at your disposal."

I've just sent them an email to sign up.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #226
  • Oct 14, 2011 4:02am Oct 14, 2011 4:02am
Wow that was quick! In the time that I posted on here, I had this reply:

Dear Carl,
Thank you for your interest in our beta launch of LMAX MultiCharts.
As a valued LMAX customer, we are delighted to offer you a limited free trial period using LMAX MultiCharts beta for the remainder of 2011. Please find the installation file here;
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
To continue to access LMAX MultiCharts beta for free from 1st January 2012 , you will be expected to have a minimum cash balance of $5,000 and trade a minimum of 250 contracts per month. Alternatively, a flat fee of $60 per month will be charged to your account. In reference to your email below, you would be required to trade a minimum of 250 contracts each month in order to retain LMAX MultiCharts for free in 2012.

[color=#1f497d][email protected]If you do not wish to continue to use LMAX MultiCharts beta after the free trial period, you will need to let us know via email () by December 31st 2011.[/color]
Please note this product is still in beta and is therefore subject to change.
If you have any further questions, please do not hesitate to email us back or call us on 0333 700 1000. Our Helpdesk team is available between 07:00 and 21:30, Monday to Friday.
Kind Regards,
Jenna
There is no top. There are always further heights to reach. Jascha Heifetz
  • #227
  • Oct 14, 2011 5:49am Oct 14, 2011 5:49am
Ok I've been playing around with the muticharts in LMAX, and my first impressions were very good- it's very complex, and will take some time to get set up the way you like, and customise everything. You can preset SL and TP so that every order you make is all set up with one click into the Depth of Market window (which moves very fast on Eurodollar!). Beware that the SL and TP says in pips, but is actually in 10ths of pips ie 10 real pips = 100 of their pips (I got stoppped out straight away and couldn't work out why, but I'd set a SL of 1 instead of 10!).

The main problem with MC at the moment is there are data spikes in the charts- gbpusd is ok, but eurusd and spx500 have spikes, making the charts unusable. I'll email lmax and let them know. As they said, it is in Beta at the moment, so a few glitches are to be expected but first impressions are good.
Attached Image (click to enlarge)
Click to Enlarge Name: MultiCharts.png Size: 28 KB
There is no top. There are always further heights to reach. Jascha Heifetz
  • #228
  • Oct 14, 2011 5:57am Oct 14, 2011 5:57am
I believe you can edit those spike out, using the quote manager window (or however its called).
  • #229
  • Oct 14, 2011 5:59am Oct 14, 2011 5:59am
Can someone explain me what is minimal position I can take at LMAX, and if I place that minimal position, what will 1 pip will be in $?

What are rollover rates? Their explenation is complicated.
I am interested in EUR/USD rates and AUD/USD.

Thanks!
  • #230
  • Oct 14, 2011 6:13am Oct 14, 2011 6:13am
Quoting future
Can someone explain me what is minimal position I can take at LMAX, and if I place that minimal position, what will 1 pip will be in $?

What are rollover rates? Their explenation is complicated.
I am interested in EUR/USD rates and AUD/USD.

Thanks!
1$ per pip / 10,000 notional / 1 mini lot/contract.

I believe the rollover is charged based on the exchange rate at the time of the sweep (7-8 AM GMT), this can work for or against you depending on the how the currency moves. In reality unless you're holding very large positions overnight it won't be much either way. As markets move both up and down the law of averages would suggest that if your trade volume and contract size is constant, then over time the -/+ change to your account will be negated.

In other words, don't worry about it.
"I made all my money by selling too soon"
  • #231
  • Oct 14, 2011 6:22am Oct 14, 2011 6:22am
@Trader131

is there n ticks bar chart on MC ?
is there a ticks historical data ?
  • #232
  • Oct 14, 2011 6:24am Oct 14, 2011 6:24am
Quoting Bleek
1$ per pip / 10,000 notional / 1 mini lot/contract.

I believe the rollover is charged based on the exchange rate at the time of the sweep (7-8 AM GMT), this can work for or against you depending on the how the currency moves. In reality unless you're holding very large positions overnight it won't be much either way. As markets move both up and down the law of averages would suggest that if your trade volume and contract size is constant, then over time the -/+ change to your account will be negated.

In other words, don't worry about it. ...
Thanks for your answer!

I considered carry trade strategy so I want to know exact numbers, can you see in your history how much they charged you for some major pairs?
  • #233
  • Oct 14, 2011 7:26am Oct 14, 2011 7:26am
Quoting shrike
I believe you can edit those spike out, using the quote manager window (or however its called).

Thanks, Shrike. I think I've got a lot of reading to do- looking at help files! The MC package is very powerful, but takes some working out!

Duxis, yes there are tick charts ranging from 1 to 5000 ticks. I don't know how far back you can go - it's very hard to work out this new platform is like an alien language! There are loads of different types of charts eg seconds charts, volume charts as in per 1000/5000/100000 contracts, range charts (whatever that means). I think if you're looking for bells and whistles, then this has it! ButI also think with time you can customise it to make life a lot simpler and easier if that makes sense.

Future, I would contact them about carry trades, as I held a small Eurusd position open for about a month and expected some positive interest from it, but it didn't gain any interest. In their T&C it says "may be charged", so you need to clarify this with them before trading.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #234
  • Oct 14, 2011 7:27am Oct 14, 2011 7:27am
Wow guys!
that sounds allmost to good to be true or am I in heaven?
very interesting broker indeed and great thread,
Multicharts is one of the best platforms avaible anywhere,
60 is a lot better than what other brokers charge,
so if you don't have it, it's good choise!
but Im sure none of the owners would like to pay for it twice,
they really should fix that. it doesn't look good to be to greedy.
Bulls are stupid Animals!especially when Im short!
  • #235
  • Oct 14, 2011 7:51am Oct 14, 2011 7:51am
roughtrader, it's free until the end of the year because it's in beta testing, and then so long as you have $5000 in your balance and trade more than 250 minilots a month it's stays free.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #236
  • Oct 14, 2011 7:52am Oct 14, 2011 7:52am
Quoting future
Thanks for your answer!

I considered carry trade strategy so I want to know exact numbers, can you see in your history how much they charged you for some major pairs?
Sorry I never hold trades over night so have no real life examples!

Do you have the formula for rollover, I can help you work it out?
"I made all my money by selling too soon"
  • #237
  • Oct 14, 2011 7:54am Oct 14, 2011 7:54am
Quoting roughtrader
Im sure none of the owners would like to pay for it twice, they really should fix that. it doesn't look good to be to greedy.
It's likely that they themselves are charged a license fee for users so they're just passing it on.
"I made all my money by selling too soon"
  • #238
  • Oct 14, 2011 8:03am Oct 14, 2011 8:03am
Quoting Bleek
Sorry I never hold trades over night so have no real life examples!

Do you have the formula for rollover, I can help you work it out?
here is formula http://www.lmaxtrader.co.uk/fx-trading/fx-charges but it gives some wierd results, so I would like to hear from someone who held position overnight how much the charge was.
  • #239
  • Oct 18, 2011 3:11am Oct 18, 2011 3:11am
I would love to vouch for LMAX, they've been a good broker so far. No issues. Their charting engine is crap (JAVA), it sometimes dies on me for no reasons and a resource hog too. Buying/selling have no issues so far. Of course I'm only doing mini lots so that may not means much. Cheers.
  • #240
  • Oct 18, 2011 4:22am Oct 18, 2011 4:22am
Quoting future
here is formula http://www.lmaxtrader.co.uk/fx-trading/fx-charges but it gives some wierd results, so I would like to hear from someone who held position overnight how much the charge was.
The way I believe it works is based on the margin and your account currency.

So, if you're working in GBP £ and buy 10 contracts of EUR/USD, your margin is currently £887 with the GBP trading at 1.5697 to the USD $.

If you held the position over night your charge would be the margin requirement +/- the exchange rate change in the GBP. The margin is your 'steak' in the market, your exposure/deposit to sure up the contract(s) you've 'bought' to trade.

I hope that makes sense, I've put all this in my spreadsheet to calculate my exact margin, risk, profit, commission based on the GBP/USD rates - I manually enter the rate in to my spreadsheet each morning.
"I made all my money by selling too soon"
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