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LMAX = revolution?!?

  • #401
  • Nov 21, 2011 5:30am Nov 21, 2011 5:30am
TradingGurus: what are the issues you have?

Can't help with Java, i'm a .net person. I have a working prototype of a trading frontend that fits my needs. I have abondened fix for now - i miss accountstate information (open orders & positions, balance and so on). I'm looking at the c# api source atm to see if i can implement some of the missing stuff on my own.
  • #402
  • Edited 5:57am Nov 21, 2011 5:37am | Edited 5:57am
as they are fsa regulated so they must have segregated account.
do they have any demo account facility?
  • #403
  • Nov 21, 2011 6:57am Nov 21, 2011 6:57am
Hi Shrike,

Quoting shrike
TradingGurus: what are the issues you have?
I miss accountstate information (open orders & positions, balance and so on).
As you say, absence of things that are essential to a robust automated trading app. Stuff that seems to available in the LMAX manual web interface is absent from the documented APIs. Had to roll my own stop entry orders in Java for example. Usable historical market data! "Untrusted markets" can be a PIA also.

I guess this isn't really the place for the good old UNIX v Windows, Jobs v Gates, Java v .NET debate?!

Cheers,

Jim
  • #404
  • Nov 21, 2011 6:59am Nov 21, 2011 6:59am
Hi TinTin,

Quoting tin6tin9
do they have any demo account facility?
LMAX have two sorts of "demo" accounts in fact. Try this one for size:

https://testapi.lmaxtrader.com/#login

Cheers,

Jim
  • #405
  • Nov 21, 2011 7:04am Nov 21, 2011 7:04am
Quoting Cocoflanel
Free for funding with VISA also for MC, I suppose ?

What fees for withdrawing with VISA/MC ?
Cocoflanel, I'm not sure about multicharts, as I've taken it off my pc for now- but you can use their webtrader anyway- there are no fees, card deposits are instant, and withdrawals take a couple of days normally.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #406
  • Nov 21, 2011 7:14am Nov 21, 2011 7:14am
Quoting TradingGurus
Stuff that seems to available in the LMAX manual web interface is absent from the documented APIs.
True! As an example: their web interface is capable of maintaining discrete positions in the same instrument, while with the apis there is only a net position and one can only increase or decrease exposure. And what is the mode of operation therein, lifo or fifo? (Say I buy one contract and later on I buy another contract; then I sell one contract, which will it be, the former or the latter? I assume lifo.)
  • #407
  • Nov 21, 2011 7:19am Nov 21, 2011 7:19am
What are "untrusted markets"?
  • #408
  • Nov 21, 2011 8:04am Nov 21, 2011 8:04am
Hi Shrike,

Quoting shrike
What are "untrusted markets"?
Have you read your copy of the LMAX Order Execution Policy recently? Just in case you haven't, here's a brief extract:

Quote
In the event that the bid and ask prices of an instrument quoted on the MTF widen beyond the "trusted‟ range prescribed by the MTF, the MTF will not accept any new Orders until the affected bid and ask prices fall back to within the "trusted range‟.

Cheers,

Jim
  • #409
  • Nov 21, 2011 8:56am Nov 21, 2011 8:56am
Yes i have read that. They are doing this similar to what the CME and other exchanges do. Google CME pricebanding and protection points for further info. Or Xetra volatility breaks. I think its a good idea to have SOPs in place for situations when things get foobar. They may even have to have something like this due to their status as MTF.
  • #410
  • Nov 21, 2011 11:33am Nov 21, 2011 11:33am
Hi Shrike,

Quoting shrike
I think its a good idea to have SOPs in place for situations when things get foobar. They may even have to have something like this due to their status as MTF.
Going by your definition, things seem to get foobar fairly frequently at LMAX.

Cheers,

Jim
  • #411
  • Nov 21, 2011 11:38am Nov 21, 2011 11:38am
Quoting TradingGurus
Hi Shrike,



Going by your definition, things seem to get foobar fairly frequently at LMAX.

Cheers,

Jim
It must be client side because in the past years' trading I've literally never had an issue with LMAX. I can't say the same of any other broker.
"I made all my money by selling too soon"
  • #412
  • Nov 21, 2011 1:12pm Nov 21, 2011 1:12pm
I dont know either, they certainly dont have problems 'fairly frequently'. Doubt it has anything to do with their pricebands.
  • #413
  • Nov 21, 2011 1:33pm Nov 21, 2011 1:33pm
Hi Bleek,

Quoting Bleek
It must be client side because in the past years' trading I've literally never had an issue with LMAX. I can't say the same of any other broker.
I've been using LMAX since day 1, and I can assure you that the "untrusted markets" issue is MTF side. If you've never had an issue with LMAX that's great, but then your trading style is probably rather more conservative than that employed by some of my "stress testing" software.

Cheers,

Jim
  • #414
  • Nov 21, 2011 1:40pm Nov 21, 2011 1:40pm
Quoting TradingGurus
If you've never had an issue with LMAX that's great, but then your trading style is probably rather more conservative than that employed by some of my "stress testing" software.
Care to elaborate?

I don't stress test; I trade daily for a living and for me personally consistent fill of large volumes is far more important than anything else.
"I made all my money by selling too soon"
  • #415
  • Nov 21, 2011 3:24pm Nov 21, 2011 3:24pm
Hi Bleek,

Quoting Bleek
Care to elaborate?
Ever tried "news trading" at LMAX? Ever tried monitoring their spreads at such times? Ever tried getting "consistent fill of large volumes" in the vicinity of such times?

Quote
I don't stress test; I trade daily for a living and for me personally consistent fill of large volumes is far more important than anything else.

If you trade for a living, do you do it manually or automatically? In either event I'm surprised to discover that you never indulge in any form of "stress testing" when you try out a new broker and/or a new API for the first time. Or have I misunderstood something?

"Forewarned is forearmed" is one of my favourite mottos!

Cheers,

Jim
  • #416
  • Nov 21, 2011 3:48pm Nov 21, 2011 3:48pm
Let's just get a few things clear here, I've been trading Forex for over 5 years now, I've made a sizeable income doing so, the list of brokers I have 'tried and tested' is rather large including most of the top Currenex and some institutional operations. I demo traded in the early days but haven't run a demo account in a long time, when trialling/testing a new broker I use live accounts.

I think I would say I'm pretty well versed in what the Forex world has to offer, the good, the bad and the expected.

Do I trade the news specially? No. Never.

I trade regardless of the news so naturally the news interacts with my trades but aside from NFP I do not consider it, and even NFP doesn't stop me trading.

I trade manually, always have, always will. I trade with naked/plain charts, sometimes completely without and therefore API and automated trading is of no interest to me.

Not wishing to sound arrogant but we appear to be coming from two very different directions here, I'm not concerned about patterns, automation and statistics, I'm concerned with my bottom line because it's the only thing that matters!
"I made all my money by selling too soon"
  • #417
  • Nov 21, 2011 4:16pm Nov 21, 2011 4:16pm
Quoting TradingGurus
Ever tried "news trading" at LMAX? Ever tried monitoring their spreads at such times? Ever tried getting "consistent fill of large volumes" in the vicinity of such times?
Hi Jim

I'm assuming you are not talking about the usual spread widing/ low liquidity that happens with any broker on a real market during news times.

Is LMAX worse during these times than any other broker you use/ have used?
  • #418
  • Nov 21, 2011 5:05pm Nov 21, 2011 5:05pm
Quoting havaiana
Hi Jim

I'm assuming you are not talking about the usual spread widing/ low liquidity that happens with any broker on a real market during news times.

Is LMAX worse during these times than any other broker you use/ have used?
Check out the home page of LMAX during news times where you can see live quotes/liquidity.

You WILL get filled at those prices/size , WHAT YOU SEE IS WHAT YOU GET, at all times you see EXECUTABLE PRICES/SIZES in contrast to all the other brokers...sorry MARKET MAKERS
  • #419
  • Nov 21, 2011 5:16pm Nov 21, 2011 5:16pm
Quoting Cocoflanel
Check out the home page of LMAX during news times where you can see live quotes/liquidity.

You WILL get filled at those prices/size , WHAT YOU SEE IS WHAT YOU GET, at all times you see EXECUTABLE PRICES/SIZES in contrast to all the other brokers...sorry MARKET MAKERS

I've never had a problem with LMAX in the short time i've been using them and will move all my trading to LMAX in the next week or two (have not taken a trade during news times). Just curious exactly what the issue is Jim is talking about
  • #420
  • Nov 21, 2011 5:44pm Nov 21, 2011 5:44pm
I'm writing an experimental java chart client at the moment because I'm bored, if you need help, gimme a holler, I may be able to help.

Quoting TradingGurus
I've only just stumbled across this thread. To answer one or two questions posed earlier:

1. No I don't have £100k deposited with LMAX. Still too many "issues" for my liking.

2. I've written auto-trading apps that use their FIX, REST and Java APIs, and traded live with the latter.

3. I'd love to experiment with live trading using MC, but there is still the "historical data problem" to be sorted out.

4. Would anyone who's familiar with Java and Eclipse be interested in taking a look at some example source code for the LMAX FIX and/or Java...
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