Error 130 on microlots - page 2

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I force my EA to read all the opened orders by a FOR loop before the OrderModify() and for some reason the error 146s stop showing up and all the OrderModify() are working now.

OrderSend (Symbol(),OP_BUY,Lots,Ask,5,0,0,"Normal",255,0,CLR_NONE);
//Modify the last order by adding StopLoss and TakeProfit
total=OrdersTotal();
for(cnt=total-1;cnt>=0;cnt--)
{
OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES);
if(OrderType()==OP_BUY && OrderSymbol()== Symbol()&& OrderComment()== "Normal")
{
OrderModify(OrderTicket(),5,OrderOpenPrice()-(200*Point),OrderOpenPrice()+(700*Point),0,CLR_NONE);
}
}
 

My use of 'ECN' was intended as a generic term - as with all things in Forex, the definition is subject to... interpretation!
It used to be that only commission-charging/no or low spread ECN's were the only ones to not allow stops at order placement, maybe my use of the term dates from then!
I suppose a 'pure' ECN would not be likely to support MT4 directly (you can host your own MT4 bridge if you're keen enough!) and require large initial deposits.
More recently the 'STP' broker has appeared, many or most of whom support MT4, small deposits, micro-lots etc
These will host their own MT4 bridge, generally be no-commission but charge (variable) spread
You will find a range of overlapping types of brokers out there - though all that matters from the code perspective is can you put stops with the OrderSend or not...
-BB-

 
I think my broker definitely don't let stops with the OrderSend(). But they do not charge commission and their ask/bid spreads for EURO-USD are sometimes as low as 0.8 pips and liquidity is unbelievably good. Most of the time I get my trades at the Open(0) of the 30 minutes bar and almost never miss the stops except for the Important Data releasing times.

Is it too good to be true?
 

@ BarrowBoy - yeah please don't take my question as meaning you needed to defend your working definitions of ECN/STP/etc, I was really just curious if any hard-definitions existed regarding these things. I've never really paid much attention to broker classification beyond avoiding the white-label IB's and such. Thanks for expounding on your thoughts though, always helpful to read other viewpoints on the topic.

@ EuroTrader - if it works for you then it isn't too good to be true, when expectations are not met by reality then it becomes too good to be true, sounds like you are finding reality meets your expectations so all is good then.

 

1005phillip
Sadly hard-definitions and Forex seem to be mutually exclusive!
You will find opinion stated most firmly as fact..
Facts that were correctly stated - but are now out of date
You will find technically correct statements that are incorrect in the exact context at issue!
Welcome to the jungle :)
-BB-

 

I remember some years ago IBFX leaned hard and heavy on the marketing angle that they were no-dealing-desk, yaddi yaddi, but then the NFA got involved and IBFX got their fingers smacked and suddenly everything changed on their website (that was also the same time they closed their forums, etc). So to some extent the definitions must exist and must hold some legal grounds as, at least with US regulated FCM's, not every broker can claim they are one or the other without regulatory repurcussions close behind.

At any rate since the "ECN" description in the web-link you provided makes it sound like an ECN broker is the least suspicious type of broker I was curious if any MT4 brokers are actually ECN or if the closest they come is STP. Both FXDD and FXCM for example are listed as ECN but not for their MT4 platforms, which makes me curious to ask "why?".

 
With a real ECN broker u r supposed to have direct access to level II market, which means u can see the depth of market as well as placing bid and offers in the market books. Your spreads would be close to zero and the broker would charge commission only. AFAIK, this is simply not possible with MT4 (no matter what bridge is used). The best u can get is STP connection to those markets, but it's not the same. MT5 seems to be heading towards level II as most of those abilities are built into the platform according to the documentation.
 
gordon:
With a real ECN broker u r supposed to have direct access to level II market, which means u can see the depth of market as well place bid and offers in the market books. Your spreads would be close to zero and the broker would charge commission only. AFAIK, this is simply not possible with MT4 (no matter what bridge is used). The best u can get is STP connection to those markets, but it's not the same. MT5 seems to be heading towards level II, as most of those abilities are built into the platform according to the documentation.

gordon,

Could you recommend me the REALLY GOOD broker without Dealing Desk & not the Market Animator ?

With min. SPREADS and MICRO_LOTS allowed - only with Meta Trader 4 platform ?

Regards,

 
1005phillip wrote >>

Both FXDD and FXCM for example are listed as ECN but not for their MT4 platforms, which makes me curious to ask "why?".

My best guess if you look at this https://www.metaquotes.net/en/metatrader4, which doesnt list bridging software,
is that, when conceived, MT4 was only for Dealing Desk brokers
As its user base expanded, bridging software was needed to link, say Currenex, to end users
So in stepped third party software suppliers from the banking side of things (such as http://www.bostontechnologies.com/btproducts.html)
So FXCMs TradeStation may connect direct as a 'pure' ECN, their MT4 clients will need a bridge and may therefore be classified as 'STP'
FWIW
-BB-

 
BarrowBoy:

My best guess if you look at this https://www.metaquotes.net/en/metatrader4, which doesnt list bridging software,
is that, when conceived, MT4 was only for Dealing Desk brokers
As its user base expanded, bridging software was needed to link, say Currenex, to end users
So in stepped third party software suppliers from the banking side of things (such as http://www.bostontechnologies.com/btproducts.html)
So FXCMs TradeStation may connect direct as a 'pure' ECN, their MT4 clients will need a bridge and may therefore be classified as 'STP'

Exactly. And since the bridge cannot bring abilities to the platform that were not build into it, some of the abilities of an ECN environment are lost in the bridging process. Hence, it's not ECN anymore.


Puncher - sending u a PM.

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