Does MQL4 support any form of asynchronous notification? - page 2
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I have no experience but I think with small lot sizes, sensible limits, the right broker and enough research, it might work to some extent. It's worth a try at least.
Can I ask how you are plotting tick data? Currently I'm using Excel and VBA but it's annoying. Is there an easier way?
Are you speaking from experience? If yes, was it was just one broker or multiple brokers? Did you compare the tick stream from multiple brokers to see how it looked around the same news release compared to yours?
The following two images are the tick stream from two different brokers around the same news release time (08:30 EST) for EURUSD. As you can see broker 1 on the left had about 7 seconds delay and 17 pip jump between ticks before and after the news (vertical grids are 10 seconds apart) compared to the more uniform ticks from broker 2. However, this was the only time I've seen such a time gap from broker 1 and by no means it is sufficient to judge their performance. My point is that if this happened to you just one time, you can't say the Broker is doing something fishy, even though it looks that way.
Finally, does anyone else on here have a similar experience as Ovo?
I have no experience but I think with small lot sizes, sensible limits, the right broker and enough research, it might work to some extent. It's worth a try at least.
Trading the news is not a novel idea, many people do it, although not in the way I described in my OP. This method involves high risk for all the reasons mentioned by ubzen. Simply placing stop orders is not enough for this strategy to work and you must continuously monitor price action before and after the news to determine if it's reasonably safe to place the orders in the first place, if and when to close any position regardless of SL/TP levels, support/resistance levels before the news, the nature of price movement for this particular type of news, and many, many other factors. Be careful.
Can I ask how you are plotting tick data? Currently I'm using Excel and VBA but it's annoying. Is there an easier way?
I am sure that broker 2 will start behaving just like broker 1 real quick after you have had a couple of winners in a row.
If you read my post, this was the only time broker 1 had a time gap during a news release. In all important news releases this year there was no time gaps. Yes, there was price gaps, but that happens with all brokers whether in live or demo mode, and different brokers will have different gaps and it's not consistent (i.e., no broker will always have smaller gaps) and even with the same broker, different account types will have different tick streams (ECN accounts generally have better tick performance)
The broker will simply start to throttle your ticks as suggested by other posters.
I really don't understand why everyone is blaming the brokers. Again, sure there are some brokers out there who are cheating, but if your strategy did not work during testing as you mentioned, then you can't really blame the broker, why on earth would they throttle you during testing?
To suspect broker manipulation you must have consistent bad performance, like consistent time gaps around news release or pending orders that don't get triggered. I continuously capture the tick stream from four different brokers and I have no reason to believe anything fishy was going on on my live account. All tick streams look more or less the same except for the case I outlined above.
If you read my post, this was the only time broker 1 had a time gap during a news release. In all important news releases this year there was no time gaps. Yes, there was price gaps, but that happens with all brokers whether in live or demo mode, and different brokers will have different gaps and it's not consistent (i.e., no broker will always have smaller gaps) and even with the same broker, different account types will have different tick streams (ECN accounts generally have better tick performance)
I really don't understand why everyone is blaming the brokers. Again, sure there are some brokers out there who are cheating, but if your strategy did not work during testing as you mentioned, then you can't really blame the broker, why on earth would they throttle you during testing?
To suspect broker manipulation you must have consistent bad performance, like consistent time gaps around news release or pending orders that don't get triggered. I continuously capture the tick stream from four different brokers and I have no reason to believe anything fishy was going on on my live account. All tick streams look more or less the same except for the case I outlined above.I wo
Full disclosure - I work for an equities exchange. No retail customer will have the capabillity, infrastructure or bandwidth to deal with a full tick feed. At best you will only be quoted a price after some holdback time (ie one quote per time period determined by the broker). You will not see the literally 1000's of quotes between the holdback times. Also, forex is unregulated meaning brokers can pretty well do what they like. Brokers get quotes from banks (or make up their own) and then pass them on to you. Bank1 might quote brokerA a different price to brokerB, so I would not expect brokerA and B to be the same unless they use the exact same banks to quote and have the exact same contracts and datafeeds. Remember there is no central market or oderbook for forex.