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The Trader Behind the Trade™

  • #541
  • Apr 26, 2013 3:32pm Apr 26, 2013 3:32pm
Quoting TPOTrader
{quote} so which broker do you use for the main account?
Was with Tradestation. Closed now to switch to MB. I built up to 50, 000 with Oanda.
  • #542
  • Apr 26, 2013 4:01pm Apr 26, 2013 4:01pm
Quoting Seneca pilot
{quote} I wish. They are one million minimum. Institutional and large private traders only.
Yeah, but they do that to protect their partners so referred clients don't just go direct to ILQ. ILQ's entire business model is based on working with partners on a B2B level, and avoid B2C unless it's worthwhile (high account balances.)

What's interesting is that they don't just gun for being a turn-key solution to new brokerages, but also spend a lot of time focusing on service providers like signal and EA companies, giving them the ability to refer clients to ILQ and set their own desired markups on trade volume.

This can lead to some interesting partnerships; I even recall one where an EA vendor was working an automated system like MDP (or other tick scalpers, where on trigger has lots of retail accounts trying to get filled on the same thin liquidity at the same time during volatile market moves, often leading to mass slippage) but worked out an agreement with ILQ on execution quality to make sure their users got a fair shot at getting a good fill with the LP on board so long as they understood what the EA was doing and how it operated. (There's a longer story here involving some dirty clients then using the account to latency arb the same LPs once their guard was down, but that was sorted out and last I checked everyone was happy.)

Anyway.. back on topic. Since ILQ works with partners, you can get ILQ without the million minimum by using brokers who work solely with ILQ.

(The only downside to this is that each partner, again, can set their own markups, so while execution should be the same on any ILQ hosted MT4 setup, spreads might vary between partners.)

For US residents:

BeamFX is one example. http://www.beamfx.com/

I've talked a bit with a guy who works there, nice people and very friendly. I must be up front though and say I haven't directly used them before (I'm not restricted to US brokers, so I haven't spent much time at all checking US brokers out in a live environment,) but I have heard positive things and in the end it's ILQ handling execution and MT4 anyway.

Last I checked they had a competitive spread vs the major US brokers. So maybe you can get a taste of ILQ without writing a 7 figure check (Their minimum is a few hundred.)

Hope that helps.
FXGears.com
  • #543
  • Apr 26, 2013 4:15pm Apr 26, 2013 4:15pm
Quoting Jack_Larkin
{quote} Yeah, but they do that to protect their partners so referred clients don't just go direct to ILQ. ILQ's entire business model is based on working with partners on a B2B level, and avoid B2C unless it's worthwhile (high account balances.) What's interesting is that they don't just gun for being a turn-key solution to new brokerages, but also spend a lot of time focusing on service providers like signal and EA companies, giving them the ability to refer clients to ILQ and set their own desired markups on trade volume. This can lead to some...

IF ILQ minimum deposit is $1 mil, then they have 13 clients or less?

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NocturnalFX is no longer offering commercial services
  • #544
  • Apr 26, 2013 4:22pm Apr 26, 2013 4:22pm
Quoting TPOTrader
{quote} IF ILQ minimum deposit is $1 mil, then they have 13 clients or less? {image}
by the way, this is the "K" column of the FCM report from cftc.gov. Essentially the NAV of their clients' forex accounts.
NocturnalFX is no longer offering commercial services
  • #545
  • Apr 26, 2013 4:40pm Apr 26, 2013 4:40pm
Quoting TPOTrader
{quote} IF ILQ minimum deposit is $1 mil, then they have 13 clients or less? {image}
Not quite. They have many clients who are small time.. just all through partners. That was my point with the last post, you can get ILQ through a partner like BeamFX for a $200 account minimum.

If you want to go direct, skipping their partners, then it's whatever high requirements they have.
FXGears.com
  • #546
  • Apr 26, 2013 9:13pm Apr 26, 2013 9:13pm
Quoting Seneca pilot
{quote} Was with Tradestation. Closed now to switch to MB. I built up to 50, 000 with Oanda.
Would you say that TradeStation's reliability and uptime is superior to any MT4 platform? With MT4 no matter which brokers you lose connections often, and many instances of chart freeze or missing bars. But from your experience, do you think TradeStation has very low incidents of server side issues?

I use TradeStation too. But as you said this broker does not link to Myfxbook or other auto-trading/mirror-trading services.
No longer trading forex. Looking for full time job.
  • #547
  • Apr 26, 2013 9:40pm Apr 26, 2013 9:40pm
Quoting mmaker
{quote} Would you say that TradeStation's reliability and uptime is superior to any MT4 platform? With MT4 no matter which brokers you lose connections often, and many instances of chart freeze or missing bars. But from your experience, do you think TradeStation has very low incidents of server side issues? I use TradeStation too. But as you said this broker does not link to Myfxbook or other auto-trading/mirror-trading services.
Charting, execution, and financial responsibility are top shelf with Tradestation. I just want to trade with real spreads. I think it is cheaper with true spreads plus commissions than with the rather large markup through retail style brokers. I never had any type of connectivity or execution problems with Tradestation either years ago with futures or more recently with forex.

I have to say that the MT4 with Oanda is reliable but it is very slow on execution. I would usually chart on MT4 with them but execute on FX trade. The FX trade charting sucks but the execution is very good.
  • #548
  • Apr 27, 2013 8:56am Apr 27, 2013 8:56am
Weeekeeennddd

Inserted Video
NocturnalFX is no longer offering commercial services
  • #549
  • Apr 27, 2013 3:02pm Apr 27, 2013 3:02pm
Quoting Seneca pilot
{quote} I will never put the main account on the net I don't care how good the encryption or even that it is only an investor password. I am paranoid. The account I link up will be one thousand or so.
Hi Seneca Pilot, I don't know if this helps but we had the same concern until recently. We found that MT5 accounts can be connected using the myfxbook publisher, without the requirement of an investor password. This eased our concerns a bit, as we also do not entirely trust the encryption. Anyhow I connected two medium sized accounts 75k USD and 5k GBP. Hope this helps. But yes, I agree connecting small accounts is wise.

Hey tpotrader nice work this month, a solid overall gain!

Adam
MPC
See our myfbook results. Our username = MPC
  • #550
  • Apr 27, 2013 4:57pm Apr 27, 2013 4:57pm
Quoting mpc
{quote} Hi Seneca Pilot, I don't know if this helps but we had the same concern until recently. We found that MT5 accounts can be connected using the myfxbook publisher, without the requirement of an investor password. This eased our concerns a bit, as we also do not entirely trust the encryption. Anyhow I connected two medium sized accounts 75k USD and 5k GBP. Hope this helps. But yes, I agree connecting small accounts is wise. Hey tpotrader nice work this month, a solid overall gain! Adam MPC
Why not use a demo mt4 and copy it to another live account (either mt4 or InteractiveBrokers through a bridge) via rapacap and publish it there. Along side you can publish your statements in your personal blog and as long as you also publish that same statements on rapa you don't fool around. Unless you want to attract the small accounts for signal services.

Just think of it. If you can upload your InteractiveBrokers/live mt4 statements with them ( to be verified) through your own blog with official broker statements and have a blog/rapa that updates your daily/weekly performance/trades, why would you give a s..t about myfxbook. That's for the fresh man hoping to get some attention. You're trying to be serious in trading, aren't you?
  • #551
  • Apr 27, 2013 6:11pm Apr 27, 2013 6:11pm
Yes,

Join us at RAPA where real traders roll..

I'm in the minor league.....lol

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NocturnalFX is no longer offering commercial services
  • #552
  • Apr 27, 2013 6:16pm Apr 27, 2013 6:16pm
Quoting pbb
{quote} Why not use a demo mt4 and copy it to another live account (either mt4 or InteractiveBrokers through a bridge) via rapacap and publish it there. Along side you can publish your statements in your personal blog and as long as you also publish that same statements on rapa you don't fool around. Unless you want to attract the small accounts for signal services. Just think of it. If you can upload your InteractiveBrokers/live mt4 statements with them ( to be verified) through your own blog with official broker statements and have a blog/rapa...
I have not considered Rapa. Thank you Pbb for the suggestion, I will be looking into this.

Adam
See our myfbook results. Our username = MPC
  • #553
  • Apr 27, 2013 6:18pm Apr 27, 2013 6:18pm

Quoting TPOTrader
Yes, Join us at RAPA where real traders roll.. I'm in the minor league.....lol {image}
Actually it looks like you stack up pretty well with the snapshot you took! Awesome.

Adam
See our myfbook results. Our username = MPC
  • #554
  • Apr 28, 2013 1:08am Apr 28, 2013 1:08am
Quoting mpc
{quote} Actually it looks like you stack up pretty well with the snapshot you took! Awesome. Adam
thanks.

I try to register to as many 3rd party sites as possible. Go to myfxbook auto trade, go to tradeslide, go to rapa, go to fxjunction...you'll see TPOTrader or NocturnalFX.

Nowdays if you see a forex service provider flashing some excel results....stay away!
NocturnalFX is no longer offering commercial services
  • #555
  • Apr 28, 2013 1:59am Apr 28, 2013 1:59am
Quoting TPOTrader
Nowdays if you see a forex service provider flashing some excel results....stay away!
You mean you don't believe in these posted results? LOL!
Quoting Tradingplace
twitter: https://twitter.com/#!/Tradingplace
Blog :http://joetradingplace.wordpress.com/
Skype: joe.tradingplace

Monthly Results 2013

January = +850 pips (+3.98percent)
February = +2,230 pips (6.56percent)
March = +540 pips (1.73 percent)
April = +1,070 pips (4.35 percent)
Total ( +4,690 pips (+16.72 percent) )
http://www.forexfactory.com/showthread.php?t=360425
No longer trading forex. Looking for full time job.
  • #556
  • Apr 28, 2013 9:45am Apr 28, 2013 9:45am
Quoting mmaker
{quote} You mean you don't believe in these posted results? LOL! {quote} http://www.forexfactory.com/showthread.php?t=360425
do you?
NocturnalFX is no longer offering commercial services
  • #557
  • Apr 28, 2013 10:23am Apr 28, 2013 10:23am
Quoting mpc
{quote} I have not considered Rapa. Thank you Pbb for the suggestion, I will be looking into this. Adam
If you don't need additional trading funds RAPA is really not of much value.
  • #558
  • Apr 28, 2013 10:24am Apr 28, 2013 10:24am
Quoting mmaker
{quote} You mean you don't believe in these posted results? LOL! {quote} http://www.forexfactory.com/showthread.php?t=360425
In a word, NO.
  • #559
  • Apr 28, 2013 10:44am Apr 28, 2013 10:44am
Quoting TPOTrader
{quote} do you?
Quoting Seneca pilot
{quote} In a word, NO.
By the way, subscription price is going up. No TradeExplorer, no Myfxbook.

Quoting Tradingplace
Subscriptions for forex signals are going up in May, but this wont effect existing members and all the members who join before.
No longer trading forex. Looking for full time job.
  • #560
  • Apr 28, 2013 12:21pm Apr 28, 2013 12:21pm
Quoting Seneca pilot
{quote} If you don't need additional trading funds RAPA is really not of much value.
How about selling signals? The only difference I see here is being paid afterwards over actual performance instead of asking your clients for an upfront subscription payment.
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