Mirroring trades to another MT4 on a same computer? - page 2
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Isn't that "dynastore for metatrader" software pretty expensive?
daraknor, did you ever look into using the MB Trading API? I looked at EFX Group (which is an FX-only MB Trading), but found the lack of an automated trading platform a disadvantage. There is a Yahoo group devoted to the API, but getting it to work did not seem trivial. In your case, would you have MT4 generate signals based on MB Trading forex data? Would you also have an interface to place orders with MB Trading or would you do that manually?
I did examine the MB Trading API and it is definitely *not trivial*. It is very possible to write automated trading with MBTrading, but you need to write it in C++, .Net, VB6, etc. I don't find that to be bad, but it would take extra time. I'm considering writing my indicator free EA in C++ since there are no externalities I have to worry about. (Price action with Support and Resist lines I calculate myself.)
If a MetaTrader client was attached to MBTrading through code, it would likely function as a proxy server for streaming data. The same proxy connection could send out trade requests by accepting outbound information and then converting the trade information into MBTrading trade data. Unfortunately, the trade types that MetaTrader uses and MBTrading uses are very different for pending orders and there are some logical differences as well. MBTrading has a free API though, unlike Oanda.
Probably you may try to use MetaTrader MultiTerminal. It allows to mirror trades on multiple accounts within one broker.
Probably you may try to use MetaTrader MultiTerminal. It allows to mirror trades on multiple accounts within one broker.
I thought the issue was to mirror trades on accounts wit h different brokers.
Possible, yes; trivial, no.
It's easy enough to get trading signals out of the first MT4, but it's more complicated to get them into the other.
The hobby solution would be to write signals to a file within the first MT4 environment, then have an external script or program that copies the signal data from the file into the second MT4 environment, which would run an EA or script to poll that signal data.
There is a variant of that where you would install the source MT4 within the experts\files directory of the receiver MT4, in which case you don't need the external transfer.
A more professional solution would involve using/writing a dll extension module, or two of those, to achieve send and receive functions over sockets.
There are a fair few technological trolls along this path, certainly enough of them to entice true geeks.Another route would be to use a database to send signals back and forth. The First MT4 client sends a trade order to the database, then the Second MT4 client would pick up that data and execute the trade.
Your EA/Script on the First MT4 can 'log' each trade to the DB, and you can have a script on the Second MT4 that runs every second and checks the DB for 'new' trades. All you really need for this is an available database and a simple Messages table in the database.
I'm a fan of the DB approach because to me its easier to deal with than using text files or sockets, plus you can retain a history of the commands you send back and forth between the 2 clients.
My 2 cents.
Juan
I did examine the MB Trading API and it is definitely *not trivial*. It is very possible to write automated trading with MBTrading, but you need to write it in C++, .Net, VB6, etc. I don't find that to be bad, but it would take extra time. I'm considering writing my indicator free EA in C++ since there are no externalities I have to worry about. (Price action with Support and Resist lines I calculate myself.) If a MetaTrader client was attached to MBTrading through code, it would likely function as a proxy server for streaming data. The same proxy connection could send out trade requests by accepting outbound information and then converting the trade information into MBTrading trade data. Unfortunately, the trade types that MetaTrader uses and MBTrading uses are very different for pending orders and there are some logical differences as well. MBTrading has a free API though, unlike Oanda.
I'm considering going this same route as well, but have heard a couple bad things about MB/EFX that are keeping me from going with them.
1) Their commissions are pretty high for an ECN, in certain pairs like GBPUSD you end up paying an extra 1-2 pips per trade in commission, which seems pretty high by comparison (to other ECNs).
2) Their swap rate is awful, and even they'll admit to that. They charge a *lot* more than they pay in interest, the ratio is really skewed in their favor (much more than any other broker I have seen).
Also, they treat multiple open trades in one currency as one position, averaged out. This is a little odd to me, different than what we have for Metatrader. I also use price action so I could probably work my way around this, but this could be tricky for certain traders.
In terms of actual spread/interest expenses, I think Oanda has an edge. Their $600 price tag on their API seems a little high, but I may explore their code in a couple of weeks.
Let me know how things work out for you, which route you decide to go with. It sounds like you're set on MB Trading right now, hopefully that works out for you. Have you looked into using EFX? They're an arm of MB that specializes in Forex, their pricing and quotes are the same, but they have Forex specific tools available to their user. I hear they may be coming out with a free charting package soon, that could make them much more attractive to traders.
MBTrading is definitely horrible on swap rates. I am rejecting the idea of using the MBTrading SDK because it marries me directly to MBTrading. I'm aiming more for protocol support, so I can use HotspotFX, Currenex, or MBTrading.
My goal for ECN trading is short term trades more reliably. I will probably avoid the swap rates completely. I noticed MBTrading has a white label that mentions them, but I haven't checked the options for this. (It matters strongly to one of the people who might use my software.)
Oanda has nice spreads, amazing swap, great lot sizing. On the other hand, I'm concerned about their liquidity and how they may interfere with the prices to have no position into the market. If you go with Oanda, I'd love to work with you on code to decrease the license fee during development. The example code seems decent, let me know what language you'd program in.
I'm considering going this same route as well, but have heard a couple bad things about MB/EFX that are keeping me from going with them.
1) Their commissions are pretty high for an ECN, in certain pairs like GBPUSD you end up paying an extra 1-2 pips per trade in commission, which seems pretty high by comparison (to other ECNs).
2) Their swap rate is awful, and even they'll admit to that. They charge a *lot* more than they pay in interest, the ratio is really skewed in their favor (much more than any other broker I have seen).
Also, they treat multiple open trades in one currency as one position, averaged out. This is a little odd to me, different than what we have for Metatrader. I also use price action so I could probably work my way around this, but this could be tricky for certain traders.
In terms of actual spread/interest expenses, I think Oanda has an edge. Their $600 price tag on their API seems a little high, but I may explore their code in a couple of weeks.
Let me know how things work out for you, which route you decide to go with. It sounds like you're set on MB Trading right now, hopefully that works out for you. Have you looked into using EFX? They're an arm of MB that specializes in Forex, their pricing and quotes are the same, but they have Forex specific tools available to their user. I hear they may be coming out with a free charting package soon, that could make them much more attractive to traders.Hi, this post is very informative; however I would like some specific information. If someone can help me then please send me a private message. Best Regards,
same behavior...
I have the same problem...
Manage multi-accounts, with multi brokers.
No solution found actually. But if you have access to Elite Section, we have created a very simple tool to help for that.
https://www.mql5.com/en/forum/176011
But it need some improvements.
Best Regards.