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LMAX = revolution?!?

  • #1,021
  • May 30, 2012 2:14pm May 30, 2012 2:14pm
Quoting Jfk
I don't have any affiliation with LMAX or any of its IB's. Alot of people come onto the thread bitching about this or that. The bottom line is that you get instant execution and tight spreads. This, as any seasoned trader will tell you is not always the case in what can be a very shady industry. No broker can be perfect all of the time but it amazes me that some characters seem to gripe about nothing. I think alot of these don't even trade because in my (and many others) opinion, trading directly on LMAX or though one of it's IB's blows the competition...

Finally someone with half a brain in this thread....
  • #1,022
  • May 30, 2012 2:17pm May 30, 2012 2:17pm
Quoting Jfk
I'd never rely on a single data source. One of the best was eSignal and their GTIS feed. MB Trading is good (although I'd prefer not to execute through them). Interactive Brokers is good for execution but a pretty poor feed/ charting deal. FXCM is fine if you are a swinger, likewise Oanda. I use Ninja/CQG because I want CME data. I like to see 1500 contracts going through on a 1 min chart as well as the value of accurate exchange based PP, Res 1, Supp 1 globex H/L etc, etc, as well as all the valuable price profile data from a big volume data source....
Pretty much the same opinion as i stated earlier
  • #1,023
  • May 30, 2012 2:21pm May 30, 2012 2:21pm
Quoting shrike
Sorry to pontificate again, but why sign up with them, if they are not a 'real broker for serious traders' ? Just go with Newedge (good luck..) or LCG.
What 99.9999 % of people on this board don't realise is that the banks on LCG and Newegde can refuse,reject anytime your order aka last look, something that can't happen on an EXCHANGE like lmax.....
  • #1,024
  • May 30, 2012 2:25pm May 30, 2012 2:25pm
Quoting Jfk
Marv has spoken with wisdom, as per usual. But let's take a wee look at what similiar offerings require. Newedge, Vcap, LCG, Marex etc, etc. They all require shedloads of cash just to get access to their wonderful platforms. Even old IB now require 10K to get started. The spreads on LMAX (eur/usd) have been great today (usually 0.2-0.6) and every trade I've made has been instant. It's a simple fact that you cannot get this service anywhere else, especially given the current market nervousness/ volatility. No other VENUE for spot trading for the...
That is definitely true of what i have observed with lmax so far. At the beginning i had my api frontend execute each trade as 33% lmax/ib/jforex each. On average lmax was much more on the spot, faster, more profitable. I had way less commission on dukas through volume and m6 usage but along with the constant slippage & higher spreads it was still less profitable than lmax. IB is somewhere in the middle. More slippage than lmax, spreads etc ok though and by no doubts the old & trusted brokerage. Right now im executing fx through lmax only as long as fills stay that way.
  • #1,025
  • May 30, 2012 2:27pm May 30, 2012 2:27pm
Quoting jfk
marv has spoken with wisdom, as per usual. But let's take a wee look at what similiar offerings require. Newedge, vcap, lcg, marex etc, etc. They all require shedloads of cash just to get access to their wonderful platforms. Even old ib now require 10k to get started. The spreads on lmax (eur/usd) have been great today (usually 0.2-0.6) and every trade i've made has been instant. It's a simple fact that you cannot get this service anywhere else, especially given the current market nervousness/ volatility. No other venue for spot trading for the...

exactly, that's because lmax is a fu..... Exchange and not a scammy market maker like 99.99 % of the rest out there.........do 99.99 % of you get it now?


And no, i don't work for lmax. ....
  • #1,026
  • May 30, 2012 2:30pm May 30, 2012 2:30pm
Coco, calm down..
  • #1,027
  • May 30, 2012 2:32pm May 30, 2012 2:32pm
Hey boys, we're on page 69

Lets not take our eye off the ball. What the point of it all is

(were on page 69)
  • #1,028
  • May 30, 2012 2:33pm May 30, 2012 2:33pm
Quoting shrike
Coco, calm down..



Iknown,known. ....Shrike..just my spanish blood running hot...
  • #1,029
  • May 30, 2012 3:24pm May 30, 2012 3:24pm
LMAX seems to be the best option for the retail trader but what platform can I use to automatically calculate my position size based on a percentage of my core equity and on my stop loss? I know this can be done with MT4 with addons, but I don't want to use MT4. Can anyone answer this? It doesn't seem like this is available in the Web Platform or in MultiCharts so what is the alternative? Does PathFinder carry the LMAX feed and does it have this ability? If not, then what is the alternative?
  • #1,030
  • May 30, 2012 4:51pm May 30, 2012 4:51pm
Quoting global3
Seems similar to this Visual Trading Console & Trade Manager for Metatrader4: http://www.the-forex-strategy.com/in...rading-console
This looks like a great product global, do you know if there is a demo version available? (there doesn't seem to be...)

Cheers,

Mark
  • #1,031
  • May 30, 2012 5:24pm May 30, 2012 5:24pm
Quoting global3
LMAX seems to be the best option for the retail trader but what platform can I use to automatically calculate my position size based on a percentage of my core equity and on my stop loss? I know this can be done with MT4 with addons, but I don't want to use MT4. Can anyone answer this? It doesn't seem like this is available in the Web Platform or in MultiCharts so what is the alternative? Does PathFinder carry the LMAX feed and does it have this ability? If not, then what is the alternative?
You have 3 options:

- Write a script for Multicharts, or have someone write it, or see if there is one posted in the Multicharts community.

- Same as the above, but for Pathfinder.

- Get an API access and write a small application for doing it (or hire a freelancer to do it, I once did that with another bröker, payed him 25 bucks and had it within 2 days). I learned some programming (though I'm still a newbie and can only write simple apps) and if I start live trading through the LMAX API I'll write one. If I ever do I'll post it here for free.
  • #1,032
  • May 30, 2012 6:14pm May 30, 2012 6:14pm
Quoting Jfk
Marv has spoken with wisdom, as per usual. But let's take a wee look at what similiar offerings require. Newedge, Vcap, LCG, Marex etc, etc. They all require shedloads of cash just to get access to their wonderful platforms. Even old IB now require 10K to get started. The spreads on LMAX (eur/usd) have been great today (usually 0.2-0.6) and every trade I've made has been instant. It's a simple fact that you cannot get this service anywhere else, especially given the current market nervousness/ volatility. No other VENUE for spot trading for the...
Amen!
I really don't understand the concerns around this feed. LMAX is the perfect setup for the retail trader and that's what most of us are. Maybe it is not working well for large volume traders (I am quite sure large investors prefer to deal in an enviroment where they trades are only matched with banks and LP), but we cannot compare Apples and Bananas.

Spreads are good, execution is fine...so where is the issue? The real point is that many traders keep sticking with MT4, which has clearly issues executing on ECNs especially through these bridges when on LMAX execution speed is key. But you have several alternatives to get your fills at a decent time!
  • #1,033
  • May 30, 2012 9:34pm May 30, 2012 9:34pm
Quoting MarkW1979
This looks like a great product global, do you know if there is a demo version available? (there doesn't seem to be...)

Cheers,

Mark
I don't see any demo available on their website so unfortunately it looks like they don't offer a demo.
  • #1,034
  • May 30, 2012 11:31pm May 30, 2012 11:31pm
Quoting Marv
You have 3 options:

- Write a script for Multicharts, or have someone write it, or see if there is one posted in the Multicharts community.

- Same as the above, but for Pathfinder.

- Get an API access and write a small application for doing it (or hire a freelancer to do it, I once did that with another bröker, payed him 25 bucks and had it within 2 days). I learned some programming (though I'm still a newbie and can only write simple apps) and if I start live trading through the LMAX API I'll write one. If I ever do I'll post it here for free....
Thanks for your advice Marv. IMO, that feature should be included with every trading platform. Anyway, looks like I'll have to get a programmer.
  • #1,035
  • May 30, 2012 11:55pm May 30, 2012 11:55pm
Thanks all, especially to Marv and Jfk

My conclusion is LMAX seem have some good idea and they're trying to be better more.

I'm not a big/pro trader. My account is small, just < 5000$ at first time to test broker. So I did not need to find out some prime brokers with powerful platform but required acc >50k. Maybe in future when I have more money, I will ask new question Another reason is I need MT4 platform because of my indicator, my EA.

So, what broker with LMAX can I try? I have some name like ArmadaMarkets, Fastbrokers but only Armada provide MT4 platform. Also I have live chat with them and their support is fine. But I'm confusing because of someone tell to me that their execution time is delay 6-7s. It cannot be accepted. Does someone which has experiment with this broker can share your opinion?

I'm going on the way to find the broker which suit to me. I'm happy and welcome any advise
  • #1,036
  • May 31, 2012 12:49am May 31, 2012 12:49am
Quoting global3
I don't see any demo available on their website so unfortunately it looks like they don't offer a demo.
they do https://apply.lmax.com/uk/demo_ui
I'm not insane; my mother had me tested.
  • #1,037
  • May 31, 2012 10:14am May 31, 2012 10:14am
Quoting dikdikdik
But I'm confusing because of someone tell to me that their execution time is delay 6-7s. It cannot be accepted. Does someone which has experiment with this broker can share your opinion?
Been placing live trades with them. For me their execution is no more than half a second, and I live outside of Europe (their servers are in London).
  • #1,038
  • May 31, 2012 2:13pm May 31, 2012 2:13pm
Quoting Marv
That's exactly what I do when I have to deal with MT4. Except I also use a little application I wrote with buttons/parameters for sending orders to MT4 (also shows bid/ask and slippage through DDE connectivity). What it really does is send hotkey strokes to MT4 which trigger the appropriate order scripts that I also wrote. It doesn't have all the necessary scripts though, just the two I use the most to trade, so it's incomplete. But I might finish it and post it if you MT4 guys want.
Hi Marv,

This would be really useful for me if you don't mind sharing. Just need buy/sell/ close/ and stop loss entry buttons.

Cheers,

Mark
  • #1,039
  • May 31, 2012 2:27pm May 31, 2012 2:27pm
Interesting MT4 add-on. If anyone tries 7 day free trial please post findings.

http://orderbookfx.com/downloadmanual.aspx
  • #1,040
  • Edited 6:50pm May 31, 2012 4:29pm | Edited 6:50pm
Quoting Jfk
Interesting MT4 add-on. If anyone tries 7 day free trial please post findings.

http://orderbookfx.com/downloadmanual.aspx
I just watch futures level 2 and volume feed.. since I already have real time CME data coming in on another platform for free.
FXGears.com
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