When I first started looking into automated trading system development, particularly in currencies trading, Metatrader is always one of the candidates. The main problem with Metatrader , in my opinion, is without reputable broker. No, not another debate about Forex brokers. When your account grows bigger you will have more concerns over these issues.
Back to ATS, one of the reasons I like Metatrader is that there are full of free resources (craps as well) around the internet. Here are some links that I’ve found over the past weeks during my program development.
- Historical Data Importing by earnforex
- MQL4 tutorials by Coderguru
- Tricks to set up email alert in MT4 by newdigital (in forex-tsd)
- MQL4 documentation by MQL4.com
- OrderSend() magic number mystery by Coderguru
- Hosting multiple Expert Advisors in Metatrader by Coderguru
- Metatrader development course
Enjoy! And Happy New Year. Here is to a prosperous 2009.
Have you looked at Metatrader since this post?
Yeah that previous conversation made me think about “gambling” in forex 😉 so I looked around at various platforms and brokers. I could use QuoteTracker with IB’s feed but it’s a pain to switch back and forth the data provider. Anyway I discovered that MB Trading does Forex and supports MT4. MBT is quite a reputable broker, and for forex they say they have no dealing desk and are just an ECN. What do you think?
Have you looked at Metatrader since this post?
Yeah that previous conversation made me think about “gambling” in forex 😉 so I looked around at various platforms and brokers. I could use QuoteTracker with IB’s feed but it’s a pain to switch back and forth the data provider. Anyway I discovered that MB Trading does Forex and supports MT4. MBT is quite a reputable broker, and for forex they say they have no dealing desk and are just an ECN. What do you think?
Interesting about MBT. Where did you read the criticism about them? I’d be interested to check it out.
The only downside I see with IB is the 25K minimum per position and the lower leverage. In any case I’m really just starting out to test some ideas and platforms so the broker isn’t really critical at this stage.
Why not Oanda – 3 reasons: 1. I really dislike their platform. 2. You can’t have custom studies. 3. I prefer to start practicing with the broker I’m likely to go live with.
I see some bad reviews on MBT in goforex.net but reasonable reviews in forexfactory. Who knows what to believe.. Have you looked at Tradestation for forex?
Thanks..
@Eyal,
I am using Metatrader for charting for years(FX). I would say it is a good charting tool with options of programming and customizations. I do not trade through Metatrader.
There are mixed comments/criticisms about MBT. And their capital does not seem to be too impressive (well, just nice to meet regulation requirement though). Their commission and rollover rate are also not too impressive as well.
Probably I need to do more research about this firm.
Probably, Chart with Metatrader, trade with IB might be a better idea.
Any reason why do you look elsewhere for forex instead of sticking with IB?
@Eyal,
I am using Metatrader for charting for years(FX). I would say it is a good charting tool with options of programming and customizations. I do not trade through Metatrader.
There are mixed comments/criticisms about MBT. And their capital does not seem to be too impressive (well, just nice to meet regulation requirement though). Their commission and rollover rate are also not too impressive as well.
Probably I need to do more research about this firm.
Probably, Chart with Metatrader, trade with IB might be a better idea.
Any reason why do you look elsewhere for forex instead of sticking with IB?
Interesting about MBT. Where did you read the criticism about them? I’d be interested to check it out.
The only downside I see with IB is the 25K minimum per position and the lower leverage. In any case I’m really just starting out to test some ideas and platforms so the broker isn’t really critical at this stage.
I’ll need to do some search. I guess, elitetrader should have some threads related to MBT. Will drop you a line once I found it.
btw, since it is for idea testing, and small fractional position size, why not Oanda?
I’ll need to do some search. I guess, elitetrader should have some threads related to MBT. Will drop you a line once I found it.
btw, since it is for idea testing, and small fractional position size, why not Oanda?
Why not Oanda – 3 reasons: 1. I really dislike their platform. 2. You can’t have custom studies. 3. I prefer to start practicing with the broker I’m likely to go live with.
I see some bad reviews on MBT in goforex.net but reasonable reviews in forexfactory. Who knows what to believe.. Have you looked at Tradestation for forex?
Thanks..
Tradestation is just another introducing broker/white label (whatever they call it) of GAIN Capital, which is again having bad reputation on the net.
It is true, who knows what to believe..
Tradestation is just another introducing broker/white label (whatever they call it) of GAIN Capital, which is again having bad reputation on the net.
It is true, who knows what to believe..