[Trader's Handbook] Draft articles, "out of pocket" discussions - page 16
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But what's the point? It's not like you want to be in the brokerage business. If you want to become a brokerage director, you are on the wrong forum. :)
Here we write about software and algorithmic machines, not where to get a license to open a branch of IB.
You have a lot of information about the structure of the Forex market, how the money circulates, how much money owners have, how brokerage companies work, what is profitable and what is not, what are the spreads at what levels, etc. You do not have to read about licenses and marketing if you are not interested. We will not be interested in the futures market, we will not be interested in the futures market.
IMHO
If the information is empty, I apologize. To me as the beginner has seemed interesting)) I suggest to analyse only those points that have connection with algotrading. The ones that affect the commission spreads or any other nuances of the trading regime, for example how the broker determines the "toxicity" of the client and when he transfers it to ECN, etc.
In particular it is very interesting the point spreads shown there. Or maybe I got it wrong or spreads less than 2 pips just cannot exist. And when they say 1, in "developing countries" for sure it's a lie.
This information for me is like knowing the law when dealing with traffic cops so that they do not become cheeky beyond their authority.)
So what's next? You are not on the road, you are in the financial sector. There is no litigation in forex. Now one of the "leaders" in the industry (I will not mention the name) works wonders on UST accounts: turns off the server at the news and stop-out customers accounts, hand-opened trade with a profit reopens an hour later and puts the client's account into stop-out, arguing that it was closed then at a non-market quote. So? Nothing! He apologises for the inconvenience. Is that OK? And you're dreaming of "not being arrogant beyond your authority".
You know the law, this "leader" of the industry will politely tell you to fuck off... and that will be the end of it.
You will not face it on demo accounts! Conclusions. :)
I see (((.
The fact that you can not make a billion through a brokerage company, I've already understood)) But I think it is possible to train and then open your own hedge fund. I am interested in this practice only as a training.
The main thing is to understand the pulse of the market and learn to invent profitable TS. The main thing is to understand the pulse of the market and learn to invent profitable TS.
There is a lot in there about the structure of the forex market, how money circulates, how much money someone has
I only suggested items that have a connection to algotrading.
If you can do an overview for the guidebook about the highlighted in your quote, do it.
We should not go into the field of discussion of brokerage companies and how they use ready-made solutions.
We dwell only on the algorithms and operating principles.
If in doubt about your text - you can send me the text in Word in advance in a private message.
So what's next? You are not on the road, you are in the financial sector. There is no litigation in forex. Now one of the "leaders" in the industry (I will not mention the name) works wonders on UST accounts: turns off the server at the news and stop-out customers accounts, hand-open trade with a profit reopens an hour later and puts the client into a stop-out, arguing that it was closed then at a non-market quote. So? Nothing! He apologizes for the inconvenience. Is that OK? And you're dreaming of "not being arrogant beyond your authority".
You know the law, this "leader" of the industry will politely tell you to fuck off... and that will be the end of it.
You will not face it on demo accounts! Conclusions. :)
Why not? It depends on how you approach the question. And it depends where the brokerage company is registered. I had a fight with a famous one not so long ago. But it was in the USA. Our broker will pay all the losses to the clients. There is a link to it on this forum.
Depressing. Worse than the most pessimistic sentiment. Still, no matter how hard the developers tried to develop algotrading in the MQL community, it is not going anywhere. The community is almost entirely composed of clicker statists.
Those who liked it, are you pleased that the level is so low?
There are two sides of the coin here.
First - low competition (more untraded opportunities), that is a plus.
The second - orientation of brokerage companies on clickers. This is a minus.
I cannot evaluate if it is bad or not.
p.s. Do not jump to conclusions - too little time has passed. Not everyone is online all the time.
We're not in the States. And it's registered offshore. :)
PS: I'm more and more inclined to believe that all these situations should be posted on forums. Only publicity will force kitchens to reckon with their clients. And now they screw up and apologize, screw up again and apologize. Apart from an apology there is no accountability. It comes to the point - they shut down servers, and customers have to go begging and give gentlemen a petition, i.e. a complaint. Some people shit and others suffer losses.
+1
Preferably with a badly encrypted name with asterisks.
If the DC is a hybrid, then you need to clearly state in your advocacy on your website the reason for switching from MM to UST if the client has acquired "toxic" status. I am sure anyone who has decided to do Forex will understand why and the one who will not understand is of no value to either the brokerage company or to himself or to the universe, he is most likely a stupid person and has no money.
Like so-and-so... If you have so-and-so deposit, if you have so-and-so percentage of profit for so-and-so time, then I'm sorry, but close the MM account and switch to UST, we are not a charity. Quantify it.
We're not in the States. And it's registered offshore. :)
PS: I'm more and more inclined to believe that all these situations should be posted on forums. Only publicity will force kitchens to reckon with their clients. And now they screw up and apologize, screw up again and apologize. Apart from an apology there is no accountability. It comes to the point - they shut down servers, and customers have to go begging and give gentlemen a petition, i.e. a complaint. Some people are shitting and others are losing money.
If you trade with a brokerage company that is regulated by an organization in another country, you have to deal with it. You have to do everything point by point, thoroughly. You do not want to complain to FSA about "Otkritie", right? There you go.
If you have chosen a dealing company from Mauritius Islands (it is difficult to write, not just spell), everything is more complicated here.
Normal brokers work normally. If not normal, then the broker is not normal.
You have to read the rules very carefully before you agree to them. For example it is written in one Swiss bank that broker is not responsible for the quote in the terminal and may cancel it as non-market. That is the deal with this quote. In short, you need to be more careful.
Depressing. Worse than the most pessimistic sentiment. Still, no matter how hard the developers tried to develop algotrading in the MQL community, it is not going anywhere. The community is almost entirely composed of clicker statists.
Those who like it, is it good for you that the level is so low?
Come on ) I don't believe that this thread will increase the number of alt traders and develop alt trading as such. And at least somewhat significantly raise the literacy of people. So new words like clickers, quantum, toxic flow may come into use.
I've been familiar with forex trading for over 5 years, about the same amount of experience writing code for MT platforms.
And I'm ready to admit, that I most likely won't grow up to be an alt-trader as you understand it. And I'm not bothered by it.)
But I read your posts with great pleasure. You break templates - it is useful. Keep it up.
My misfortune (or luck?) is that I am completely unfamiliar with mathematics, economic theories, trading books and so on. Deprived of education and an ex-soldier. So common definitions are nothing to me. I have a lot of practice and a developed practical approach in algotrading. An educated person talking to me is like talking to a monkey.
Hehe... I don't believe that with no education, much less an ex-saldaphone, it's a real pattern breaker. For me at least. Although I, too, distinguish between formal quants and those who are wizards really, but former military without education, have not yet met wizards ...
What kind of person goes to the army if he is not a dunce? And a dunce can't suddenly transform so much. Something doesn't add up...