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 Metatrader Platform
Just trialling this MQ platform with broker Alpari UK.
Seems great for day trading.
I made a couple of entry errors on my first 2 orders, as there are some differences between this and Oandas platform. The $1.63 was a quantity error, should have been 2. - not .02 , so profit would have been $163 , and the $577 loss was a quantity and stop loss error.
After that I got into the hang of things.
Profit $1210 so far on a few trades
Anyone else using this platform?
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The order ticket is quite interesting - you can see prices moving tick by tick, and amazingly there are BFs and Garts to be found.....quite a nice aid to entry when day trading/scalping.
Another major plus IMO is the trailing stop......thats what we need to see on the big 'O'
I like the fact that ther platform loads in a few seconds, and seems to be very stable. MQ is also available with a multitude of brokers.
Fridays profit ended at USD1282.80, so it was a great day trading, and good to get to grips with the new platform, but too stressful scalping/day trading.
Back to the calmer trading of BFs and Garts.
arco
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Gripes.
Its not possible to pull the stop or target lines like you can with the big 'O'. Thats a nuisance when things are moving fast and you want to grab some extra pips, plus I got a re-quote on my last trade........never had that with Oanda. Another sell stop order got refused because I was too close to the action. So I had to quickly sell @ 'instant execution', losing 4 pips from my original required entry.
Anyway, overall Im still finding it a great platform for scalping ..........heres the current account picture.
The 2 blank spaces are long (straddle) trades that didnt get hit.
13 positive trades in a row....hope thats not an omen 
arco
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Must remember this....
and leave the computer on.....
Attention: Trailing Stop works in the client terminal, not in the server (like Stop Loss or Take Profit). This is why it will not work, unlike the above orders, if the terminal is off. In this case, only the Stop Loss level will trigger that has been set by trailing stop.
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Just had to break that number 13 
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 Originally Posted by arco
Attention: Trailing Stop works in the client terminal
Thats pretty weird.
Something like MS Outlook can have clientside rules but never seen it on a trading platform.
GFT's trailing stop certainly didnt work like that.
I will get around to checking out that platform sometime
Last edited by peat; 21-11-2007 at 06:42 PM.
For clarity, nothing I say is advice....
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BEWARE
I wondered why the swap rate on 3. short contracts this morning was -$159.32.
Just found out why................
When you roll an open position from Wednesday to Thursday, then Monday next week becomes the value date, not Saturday; therefore the rollover charge on a Wednesday evening will be three times the value indicated.
http://www.alpari-idc.com/en/service...er-policy.html
The major problem was I was doing scalping trades and although I had earned circa $150 on my first try, I was still losing.........so I left the position open, and now its even worse......but hey you never know....
The answer for Alpari scalpers is to obviously only trade on Monday and Tuesday....or use Oanda for Wed-Friday.
Last edited by arco; 22-11-2007 at 02:56 PM.
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Market Maker (CMC)and Dealbook (GFT) always threw me a bit with their value dates etc... I quite like the way Oanda doesnt have that concept
For clarity, nothing I say is advice....
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Hi Peat
The 14 minute window to avoid.................
Alpari (UK) is dealt on a "Spot" basis only. This means that all trades settle two business days from inception, as per market convention. Alpari (UK) does not arrange physical delivery of currencies hence, all positions left open from 10:59:45 p.m. to 10:59:59 p.m. (London time) will be rolled over to a new value date. As a result, positions are subject to a swap charge or credit
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