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LMAX = revolution?!?

  • #441
  • Nov 24, 2011 3:26am Nov 24, 2011 3:26am
Quoting TradingGurus
For example, one of the things near the top of my TODO list at the moment is providing AlgoTrader with the equivalent of OnTick() and OnBar() events, to make porting code over from JForex easier.
The orderBookEvent is the equivalent to onTick(), no? And a bar event can be derived thereof.
  • #442
  • Nov 24, 2011 3:50am Nov 24, 2011 3:50am
Hi Astro,

Quoting m.m.m.
However, my biggest problem would be, I think, something quite different: they seem to be very picky in terms of choice of clients.
You mean you're on LMAX's "banned list". You live on the wrong side of the Atlantic?

Cheers,

Jim
  • #443
  • Nov 24, 2011 3:56am Nov 24, 2011 3:56am
Hi Astro,

Quoting m.m.m.
The orderBookEvent is the equivalent to onTick(), no? And a bar event can be derived thereof.
That's true, but it's not the issue. At the heart of AlgoTrader is a complex event processing engine. The question is how to make Esper look a lot like JForex (should anyone happen to be interested in that idea), not how to make the LMAX Java API look like JForex.

Cheers,

Jim
  • #444
  • Nov 24, 2011 4:09am Nov 24, 2011 4:09am
Quoting TradingGurus
You mean you're on LMAX's "banned list". You live on the wrong side of the Atlantic?
No, no, I'm a german citizen, EU.. But those brokers like to "know their clients well", too well in my opinion. I always wonder how I got that account at Dukas, as I wasn't particularly helpful in answering questions in the so called "know your client" section
My policy is that I should know my broker well, not the other way around. Because my broker does not deposit its money with me, rather I am depositing my money with the broker.
Quote
The question is how to make Esper look a lot like JForex (should anyone happen to be interested in that idea), not how to make the LMAX Java API look like JForex.
I see. Unfortunately I am not familiar with those software. In principle, there must be a mechanism (event) that signals the arrival of ticks..
  • #445
  • Nov 24, 2011 4:22am Nov 24, 2011 4:22am
Quoting m.m.m.
No, no, I'm a german citizen, EU.. But those brokers like to "know their clients well", too well in my opinion. I always wonder how I got that account at Dukas, as I wasn't particularly helpful in answering questions in the so called "know your client" section
My policy is that I should know my broker well, not the other way around. Because my broker does not deposit its money with me, rather I am depositing my money with the broker.

I see. Unfortunately I am not familiar with those software. In principle, there must be a mechanism (event)...
the story of "know your client" ,i s another BS. from american idiots.......they are infecting all the world with their insane mind.......
  • #446
  • Nov 24, 2011 4:49am Nov 24, 2011 4:49am
Quoting gioviforex
the story of "know your client" ,i s another BS. from american idiots.......they are infecting all the world with their insane mind.......
Yes you are exactly right. Since all the patriot-act BS, a normal person started to get headache..
  • #447
  • Nov 24, 2011 10:10am Nov 24, 2011 10:10am
Quoting TradingGurus
Hi TinTin,



LMAX have two sorts of "demo" accounts in fact. Try this one for size:

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

Cheers,

Jim

hi tradinggurus,
the link sends to me the page where it is written
"SERVICE DOWN FOR MAINTENANCE"
  • #448
  • Nov 24, 2011 10:40am Nov 24, 2011 10:40am
Quoting tin6tin9
hi tradinggurus,
the link sends to me the page where it is written
"SERVICE DOWN FOR MAINTENANCE"
They sent an email out earlier today, test-environment is down due to maintainance for a few hours today.

There is preview.lmaxtrader.com too, i think its some experimental/testing environment.
  • #449
  • Nov 25, 2011 5:51am Nov 25, 2011 5:51am
Quoting m.m.m.
Hedging means here that I can be long and short an instrument at the same time. I need this feature sometimes.
.

Hedging is just a way for brokers to make more money from the spread, there is NO OTHER advantage...
  • #450
  • Nov 25, 2011 6:21am Nov 25, 2011 6:21am
Hi Coco,

Quoting Cocoflanel
Hedging is just a way for brokers to make more money from the spread, there is NO OTHER advantage...
There is no advantage to the broker's marks (sorry "clients").

Some people claim it's worth paying the broker a fraction more to make their "paperwork" easier, but I don't see it that way.

Some software can't cope with multiple strategies on the same pair on the same account. My advice is don't use such software, or at the very least have lots of accounts!

Cheers,

Jim
  • #451
  • Nov 25, 2011 6:28am Nov 25, 2011 6:28am
Hi Astro

Quoting m.m.m.
No, no, I'm a german citizen, EU.. But those brokers like to "know their clients well", too well in my opinion. I always wonder how I got that account at Dukas, as I wasn't particularly helpful in answering questions in the so called "know your client" section
I see! Perhaps because the Duke and/or their liquidity providers work on the assumption that 95% (or whatever the number actually is) of FX traders lose money in the (often swift) end?

Quote
Unfortunately I am not familiar with those software. In principle, there must be a mechanism (event) that signals the arrival of ticks..

Esper "signals" all sorts of complex events, as well as simple ones like ticks. For more details of the principles and mechanisms see:

http://esper.codehaus.org/

Cheers,

Jim
  • #452
  • Nov 27, 2011 3:59pm Nov 27, 2011 3:59pm
Quoting TradingGurus
Hi Astro,



You mean you're on LMAX's "banned list". You live on the wrong side of the Atlantic?

Cheers,

Jim

Maybe he is making too much money ,CAN'T BE, because LMAX is an exchange
  • #453
  • Nov 28, 2011 3:22am Nov 28, 2011 3:22am
For anyone looking at trading small sizes, lmax now offer minilots on fx.

Dear Trader,
We have introduced the facility to trade in mini-contracts as well as contracts. In order to effect this change, you may see some small adjustments to your order history and account transactions. If you see small adjustments have been made within your account, we wish to reassure you that these adjustments will not affect your open positions or cash balance in any way.
If you have any further questions, please contact the LMAX Trader Helpdesk on 0333 700 1000 or at [email protected].
http://pr.ak.vresp.com/f9683516a/www...wards-2011.png
Kind regards,
The LMAX Trader team
There is no top. There are always further heights to reach. Jascha Heifetz
  • #454
  • Nov 28, 2011 3:53am Nov 28, 2011 3:53am
Usually 10K is called minilot and 1K microlot. LMax now supports 0.1 contract size which is 1000 units of basecurrency or a microlot. Just to clarify.
  • #455
  • Nov 28, 2011 4:10am Nov 28, 2011 4:10am
Quoting shrike
Usually 10K is called minilot and 1K microlot. LMax now supports 0.1 contract size which is 1000 units of basecurrency or a microlot. Just to clarify.
To add to that, I thought I'd test it out and I've just traded their 0.1 (micro) contract, and been charged 30 cents commission each way on it. That's nearly the same as their full (mini) lot commission (34 cents). Pretty hard to make a profit with on that! I've emailed them about it and hope it's a mistake.
There is no top. There are always further heights to reach. Jascha Heifetz
  • #456
  • Nov 28, 2011 4:30am Nov 28, 2011 4:30am
No mistake. I just got this reply:


"We have introduced a minimum commission of approximately 1 contract. After that, you will be charged the usual 0.0025% of notional value."

So if anyone's thinking of trading purely microlots, there are much cheaper options.

There is no top. There are always further heights to reach. Jascha Heifetz
  • #457
  • Nov 28, 2011 4:45am Nov 28, 2011 4:45am
Maybe thats what it took to get their LPs to agree to such small tradesize.

Its still quite an improvement to be able to finetune positionsize in 1K steps.
  • #458
  • Edited 6:38pm Nov 28, 2011 5:57pm | Edited 6:38pm
Interesting bröker. As far as I can tell, they're definitely doing a good job and are worth considering. No Metatrader but instead a decent web platform AND a well made free API with FIX, Java and .NET? Wow. Isn't it great to see a bröker deciding to be itself and taking such business model!

I am depositing some cash to test its API and see how spreads and execution are. But for now here is what I have to criticize:

Available instruments:

- Spot FX: No spot gold & silver (they are only available as commodity futures).
- Indices: Where is the Nikkei?

Web platform:

- No historical tick data. You select "tick" chart type and it keeps minute data and only adds realtime tick data to it.
- A quick/easy chart zooming function (such as with the mouse scroll-wheel or an easily accessible button) would be nice. Having to expand the lower scrollbar with the mouse in order to zoom the chart is kind of awkward.

API:

- .NET looks restricted to C#. No VB.NET. Can't really complain though considering how well made (and FREE) the API is. I guess if you only knew VB.NET like me you can still manage to translate your code to C# with some extra effort. But it would have been even cooler if both were supported.
*Correction: Looks like their .NET client is NOT restricted to C#. My bad.

Trading conditions:

- Minimum order size is 0.1 lot (a 10k order). 0.01 lot would provide more accurate position sizing.
*Update: Looks like they just reduced it to 0.01 after all. Excellent. One problem though is that they still maintain the minimum commission of 0.1 lot, so micro-traders be careful.


Perhaps LMAX can focus on improving these things. That would be great.
  • #459
  • Nov 28, 2011 6:00pm Nov 28, 2011 6:00pm
You can use the .NET library with any .net language, C#, VB.Net, F#, IronPython and so on.
  • #460
  • Nov 28, 2011 6:34pm Nov 28, 2011 6:34pm
ah thanks. The title reads ".NET (C#) Client Library" on their website so I assumed they restricted it to C#.
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