some entry level questions - save config, choose broker

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i am new in MT5. i hv some questions

1)

in tool, option, expert advisor, enable algo trading. i ticked the box but after closing mt5 and reopen it, it is unticked. seem this software won't auto save my config. may i know how to save config? and how to save the layout too?


2)

attached is the market depth in US peak hour. i am using IC Market. there is some weird 1 and 15 tick volume appear there, may i know what are they and why the offer is so limited. at the same time i compared with Interactive Brokers and there are at least 20 to 40 lots in the first market depth level. if IC market is not a liquid market, can anyone suggest other brokers?


3)

some people said the tick volume is counter the number of change of the price. i cannot understand what does it mean. can anyone elaborate more? and if it is not the true size, how can i get the true size offered in the market depth?


4)

if i use copy trade, do i need to open mt5 software? or it will automatically be done? and will mt5 require closing at least once per week or per some interval?


thanks!

 

I think for currency market, it's not centralized like futures. The order data is probably limited to what the broker or broker's partner provide. The orders you can see in the order book is probably pending orders by the brokers' users, but in reality your execution order is most likely going to get immediately filled no matter what because most brokers partner with liquidity providers that takes in orders from multiple exchanges, not limited to only one broker. From my personal experience, if your trade size is not crazy big like 10-50 lots, then the possible slippage caused by illiquidity can be neglected. I know traders who uses IC markets, and they have no problems with illiquidity. So I think you can stick to IC if you want.

 
alex2019trading:

i am new in MT5. i hv some questions

1)

in tool, option, expert advisor, enable algo trading. i ticked the box but after closing mt5 and reopen it, it is unticked. seem this software won't auto save my config. may i know how to save config? and how to save the layout too?


2)

attached is the market depth in US peak hour. i am using IC Market. there is some weird 1 and 15 tick volume appear there, may i know what are they and why the offer is so limited. at the same time i compared with Interactive Brokers and there are at least 20 to 40 lots in the first market depth level. if IC market is not a liquid market, can anyone suggest other brokers?


3)

some people said the tick volume is counter the number of change of the price. i cannot understand what does it mean. can anyone elaborate more? and if it is not the true size, how can i get the true size offered in the market depth?


4)

if i use copy trade, do i need to open mt5 software? or it will automatically be done? and will mt5 require closing at least once per week or per some interval?


thanks!

Yeah and sadly just like the order book, because this thing is mostly not centralized, the broker most likely won't be able to provide any real true volume size by itself. The definition of tick volume is "  The amount of the smallest possible price change on the right side of a decimal point"  Basically if there's a smallest unit of transaction, it should be a tick. In this case, the "true tick volume" is most likely only obtainable from prominent data sources or central exchanges which cost a lot.

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