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LMAX = revolution?!?

  • #461
  • Nov 29, 2011 3:05am Nov 29, 2011 3:05am
Quoting Marv
- Minimum order size is 0.1 lot (a 10k order). 0.01 lot would provide more accurate position sizing.
I take issue with this, it has no bearing on your position 'accuracy' at all?

I'd prefer they left the 'mini' lots and accounts to the bucket shops and look to continue and improve the current service to full lot traders.
"I made all my money by selling too soon"
  • #462
  • Nov 29, 2011 4:31am Nov 29, 2011 4:31am
Hi Bleek,

Quoting Bleek
I take issue with this, it has no bearing on your position 'accuracy' at all?
It does have a bearing on position SIZE accuracy.

Quote
I'd prefer they left the 'mini' lots and accounts to the bucket shops and look to continue and improve the current service to full lot traders.

Surely you and I and LMAX need all the "retail market makers" we can get?

Cheers,

Jim
  • #463
  • Nov 29, 2011 5:02am Nov 29, 2011 5:02am
Quoting TradingGurus
Hi Bleek,
It does have a bearing on position SIZE accuracy.

Surely you and I and LMAX need all the "retail market makers" we can get?

Cheers,

Jim
Jim,

I've placed over 500 trades with LMAX and not once failed to fill a full lot, why would I need minis, how many professional traders do you see using mini lots? None. And you know why, because we can't make a living wasting our time with mini contracts.

With regards to mini accounts, I was told LMAX wasn't going to offer that as they were focusing on larger/frequent traders. I guess if we get frequent mini lot traders that's OK as it adds liquidity but you have to ask yourself how many mini lot traders you'd need to add more than a few big 'regular' clients. I guess best of both is to have them all, but that's my point, a professional trader isn't going to be enticed by a 'bucket shop' offering.

I know that looks like quite a blunt/stubborn view but I'm happy to be proved wrong on this one!
"I made all my money by selling too soon"
  • #464
  • Nov 29, 2011 5:30am Nov 29, 2011 5:30am
Quoting Bleek
Jim,

I've placed over 500 trades with LMAX and not once failed to fill a full lot, why would I need minis, how many professional traders do you see using mini lots? None. And you know why, because we can't make a living wasting our time with mini contracts.

With regards to mini accounts, I was told LMAX wasn't going to offer that as they were focusing on larger/frequent traders. I guess if we get frequent mini lot traders that's OK as it adds liquidity but you have to ask yourself how many mini lot traders you'd need to add more than...

agree with Bleek 100% .....
  • #465
  • Nov 29, 2011 7:42am Nov 29, 2011 7:42am
I dont think its a big deal. Trading smaller than 10K lots is cost-prohibitive anyways, and the fractional contracts now give you the ability to trade 153K for example as opposed to rounding off to the next 10K-step.

Hotspot does it the same way, you can trade smaller than 500K as well as odd lots, but due to the minimum ticket fee its expensive to trade small size.

The only downside i see is if there are small oders on the top of the book, and you want to trade a much bigger quantity - then the displayed quote is pretty meaningless. But you have that problem on pro-platforms too, just on a bigger scale. I.e. you want to trade 2M but the quote is only good for 500K. LMax should introduce something like the Currenex VWap quote display to solve this issue. It aggregates book depth into quotes, for example you can set it up to show quotes in 1M steps. Hotspot has a similar functionality. Its really convenient if you regularily trade bigger than what is on top of the book, and you see the exact spread before you trade. LMax should introduce something like this into their web-platform.
  • #466
  • Nov 29, 2011 8:34am Nov 29, 2011 8:34am
Quoting shrike
LMax should introduce something like the Currenex VWap quote display to solve this issue. It aggregates book depth into quotes, for example you can set it up to show quotes in 1M steps. Hotspot has a similar functionality. Its really convenient if you regularily trade bigger than what is on top of the book, and you see the exact spread before you trade. LMax should introduce something like this into their web-platform.
Excellent idea especially for those of us trading larger positions.
"I made all my money by selling too soon"
  • #467
  • Nov 29, 2011 8:56am Nov 29, 2011 8:56am
Shrike, do you know any broker that offers the Currenex VWap you've mentioned ?

Would you please indicate them ?

Regards,
MrJinks.
  • #468
  • Nov 29, 2011 9:16am Nov 29, 2011 9:16am
Any broker that uses Currenex, like LCG, ADM and so on. There is a list of them somewhere on the currenex website.
  • #469
  • Nov 29, 2011 10:02am Nov 29, 2011 10:02am
Anyone can shed some light into the reported charting issues?
Fastbrokers has just integrated LMAx into the Pathfinder Trader platform and the chart seems to be doing just fine.
Any feedback is appreciated.


http://content.screencast.com/users/...11-29_1622.png
  • #470
  • Nov 29, 2011 10:19am Nov 29, 2011 10:19am
Oh, this looks awful..ehm, I meant, yes, they seem to have solved their problems, charts are ok now.
  • #471
  • Nov 29, 2011 10:24am Nov 29, 2011 10:24am
Quoting Yosefx
Anyone can shed some light into the reported charting issues?
Fastbrokers has just integrated LMAx into the Pathfinder Trader platform and the chart seems to be doing just fine.
Any feedback is appreciated.


http://content.screencast.com/users/...11-29_1622.png
Is that some kind of computer game?
"I made all my money by selling too soon"
  • #472
  • Nov 29, 2011 10:27am Nov 29, 2011 10:27am
Quoting m.m.m.
Oh, this looks awful..ehm, I meant, yes, they seem to have solved their problems, charts are ok now.
The Multichart issues have gone?

I might start using it tomorrow then, the only function I like is the facility to move your STOP in stages without using an arbitrary trailing STOP.
"I made all my money by selling too soon"
  • #473
  • Nov 29, 2011 11:19am Nov 29, 2011 11:19am
LMAX refused my account opening application today, saying it doesn't accept traders "from my region".

Now I understand this probably has more to do with their regulation not LMAX itself, but it's still weird considering I had accounts at reputable brökers (such as Oanda and Dukascopy) with no such problems.

What can I say... Too bad for them. lol
  • #474
  • Nov 29, 2011 11:20am Nov 29, 2011 11:20am
Quoting Yosefx
Anyone can shed some light into the reported charting issues?
Fastbrokers has just integrated LMAx into the Pathfinder Trader platform and the chart seems to be doing just fine.
Any feedback is appreciated.


http://content.screencast.com/users/...11-29_1622.png

Can you exclusively on prices of LMAX or are their prices aggregated with other prices of other providers ?
Do you pay the same commissions as when you are trading with LMAX ?
  • #475
  • Nov 29, 2011 11:22am Nov 29, 2011 11:22am
Quoting Marv
LMAX refused my account opening application today, saying it doesn't accept traders "from my region".

Now I understand this probably has more to do with their regulation not LMAX itself, but it's still weird considering I had accounts at reputable brökers (such as Oanda and Dukascopy) with no such problems.

What can I say... Too bad for them. lol

What region are you in ? Somalia ?
  • #476
  • Nov 29, 2011 11:52am Nov 29, 2011 11:52am
Someone have a good exprience with java api ?

I need some details for get my PNL account.

Regards
Ludo.
  • #477
  • Nov 29, 2011 12:16pm Nov 29, 2011 12:16pm
Quoting Marv
LMAX refused my account opening application today, saying it doesn't accept traders "from my region".

Now I understand this probably has more to do with their regulation not LMAX itself, but it's still weird considering I had accounts at reputable brökers (such as Oanda and Dukascopy) with no such problems.

What can I say... Too bad for them. lol
Alpari and the like can get around international border laws and issues because they operate in multiple countries and so bypass certain legislation, LMAX is a UK based and UK regulated business so they have to play by UK law alone.

It's a shame because you're missing out, they really are very good.
"I made all my money by selling too soon"
  • #478
  • Nov 29, 2011 1:13pm Nov 29, 2011 1:13pm
Quoting Bleek
Alpari and the like can get around international border laws and issues because they operate in multiple countries and so bypass certain legislation
You're right, and I have traded at Alpari. But like I said, I have also traded at well-regulated brokers such as Oanda, IB, and Dukascopy. Oh well.

Quoting Bleek
It's a shame because you're missing out, they really are very good.
I can tell.

I'm not out of good brökers though so it's no big deal.

Good luck guys!
  • #479
  • Edited 10:29am Nov 30, 2011 5:40am | Edited 10:29am
Quoting Marv
You're right, and I have traded at Alpari. But like I said, I have also traded at well-regulated brokers such as Oanda, IB, and Dukascopy. Oh well.



Difference is that LMAX offers 'hard' bids/offers, meaning when you hit the buy or sell button, the trade HAS to be executed if the liquidity is there unlike all the other brokers aka market makers who are free to choose if they want to take your trade.
  • #480
  • Nov 30, 2011 7:49am Nov 30, 2011 7:49am
Quoting Bleek
The Multichart issues have gone?

I might start using it tomorrow then, the only function I like is the facility to move your STOP in stages without using an arbitrary trailing STOP.
I've been using MC for a couple of days now and absolutely no problems with eur/aud/usd, tick, time or volume data (I'm using a demo account but the data should be the same). Platform is stable and the order entry tools are very nice.
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