mt4 api

[Ravique]

Well, the topic of that thread was : Negative trading styles . One of MT administrators mentioned, that there are some traders using the GRID strategy , which is based on putting out 100 of orders and modyfying them automatically. He said that no broker will go for it on the ral account, and that is why demo account for such traders will be terminated.

But still, i don`t understand. If a broker has automatic execution, then 100 orders is not a problem , isn`t it ?

I think that there are several people answring the forum, some of them are aware of programming questions , others on trading questions , and sometimes they answer each others threads, maybe this is why there is a lot of non professinal information.

[sccz97]

I@m guessing it has more to do with preventing ppl pumpellign the server with too many requests and preventing the rest of the customers from getting theirs in. Standard DoS attacks (why anywoudl would bother doign that is beyond me). As scorpion pointed out a while ago, there is a built -in lock in the mt3api which prevents orders from being fired off in quick sucession. This block is countered by spwaning off another app to fired off another request. With MT4, it seems they'll be stopping this at the source by terminiating accounts which do this, another reason why they've discontinued the client api perhaps. I'm just hoping that what the fxdd rep told scorpion is accurate, that they'll be allowing the use of the api with mt4, then I'll be switching to them. I've put far too much time into my app as I'm sure scorpion has done already with his to let something stupid liek this stop me from making money

[Rastarr]

Email from FXDD on introducing MT4:
================
Thank you for your interest in FXDD.

We are going to upgrade to metatrader 4 as soon as we can safely
integrate it with our back end. Our IT department is working on it and
we will post a press release as soon as we are ready to announce any
dates.

Regards,
================

Email from Interbank on introducing MT4:
================
We have to test the software extensively before we release it to our
clients. It will probably be at least a few months before we do.

Thank you,
================

Sounds like both these brokers are already well into MT4 testing and implementation is going to be at least a few (if not several) months away. Could I suggest members continue posting in the MQ forums for an MT4 API as well as get other interested traders/friends to do the same ? If Ravique could also start a Russian thread on the same subject, that may be helpful also ?

Cheers
Martin

[scorpion]

Everyone, read the quote from Linar a MetaQuotes representative's reply below:

The MetaTrader 4 Client API theme is closed. We got our position, and wont change it.

Well, this time it's clear how stubborn MetaQuotes is.

[Rastarr]

Yeah I read that several minutes ago.

Let's not discuss this like grown-ups and reach a logical conclusion as to what is the correct path to take which will be good for end-users as well as making the product a great one.

No, MQ says, we don't like talking about this subject so we're closing the thread - 'So there !!!'

Jeez, it's disappointing to see the pigheadedness of these people. I'll keep plugging away at them anyway.

[scorpion]

Originally Posted by sccz97

I@m guessing it has more to do with preventing ppl pumpellign the server with too many requests and preventing the rest of the customers from getting theirs in. Standard DoS attacks (why anywoudl would bother doign that is beyond me). As scorpion pointed out a while ago, there is a built -in lock in the mt3api which prevents orders from being fired off in quick sucession. This block is countered by spwaning off another app to fired off another request. With MT4, it seems they'll be stopping this at the source by terminiating accounts which do this, another reason why they've discontinued the client api perhaps. I'm just hoping that what the fxdd rep told scorpion is accurate, that they'll be allowing the use of the api with mt4, then I'll be switching to them. I've put far too much time into my app as I'm sure scorpion has done already with his to let something stupid liek this stop me from making money

Though FXDD said so, there is no guarantee that they will keep mt3 more than 3 months. They have right to change the policy, then who know whether they take off mt3 tomorrow or not. However, as their clients, we also have right to withdraw our money if they do so. There are plenty of superior brokers and APIs such as Oanda and GainCapital.

[TraderSeven]

Exactly.
MetaQuotes doesn't earn anything from traders because their client is free.
That gives them the foolish thought they are the boss.
That logic will backfire on them sooner or later because:
a] *Only* traders know what a app should do not the programmer.
b] Users complain at their brokers. Brokers want to keep customers. So they squeeze MetaQuotes a bit. So indirectly the user controls MetaQuotes.

There is a great way to put pressure on MetaQuotes. E-mail you broker and say you heard there is no MT4 api. So you can't trade your system. If they (the broker) don't support a api you have to leave to another broker that support your trading style.

[TraderSeven]

Originally Posted by sccz97

I@m guessing it has more to do with preventing ppl pumpellign the server with too many requests and preventing the rest of the customers from getting theirs in. Standard DoS attacks (why anywoudl would bother doign that is beyond me).

If they really think it has the slightest effect on DoS attacks they better start studying a bit. DoS attacks are done with much more effecient tools than MT.

[TraderSeven]

[quote=Ravique]Well, the topic of that thread was : Negative trading styles . One of MT administrators mentioned, that there are some traders using the GRID strategy , which is based on putting out 100 of orders and modyfying them automatically. He said that no broker will go for it on the ral account, and that is why demo account for such traders will be terminated.

But still, i don`t understand. If a broker has automatic execution, then 100 orders is not a problem , isn`t it ?
QUOTE]

First of all the programmers should code not make up excuses for their lack of skills.
I never ever heard of a broker that forbids certain trading styles.
In fact as I wrote earlier they like aggressive trading styles that generate lots of orders. What do you think a broker likes most. A long term trader that places 6 orders a year. Or a trader that places 6 per hour.

Maybe MetaQuotes should upgrade their server laptop

[Ravique]

=)) Yeah, and half of the Staff to.