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Serious Spot FX Trading
Started:September 4th, 2010 (12:16 PM) by wiosna Views / Replies:10,567 / 27
Last Reply:June 8th, 2011 (01:46 PM) Attachments:1

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Serious Spot FX Trading

Old October 22nd, 2010, 09:04 AM   #21 (permalink)
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I'm going away from PFG, I compared data feeds and they are dropping ALOT of data. Especially during news.

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Old December 11th, 2010, 08:35 AM   #22 (permalink)
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I would ask if someone has experience trading forex with NT and Interactive Brokers, I would like to know how it is, and how is the streaming data during volatile market, like during the new release.


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Old December 16th, 2010, 11:57 PM   #23 (permalink)
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Some clarification, please...

MB= ?

MBT= ?


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Old December 17th, 2010, 12:20 AM   #24 (permalink)
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Old March 13th, 2011, 05:43 AM   #25 (permalink)
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I received a mail from Ninja telling me that for FX Spot trading with Ninja the supported brokers are: MBT, Interactive Brokers, Gain, PFG. How compare MBT with Interactive Brokers or with PFG? I'm looking to start with Ninja but honestly I don't' know where to open the live account?!?


Hello Maria,

I have been trading with MB Trading for several years and recently purchased a 3 month subscription of NT7. I'll share a couple pieces of information with you that I found out.

If you use NT7 with MBT, you must use an old version of MB Navigator (not even Desktop Pro) and you cannot even install Desktop Pro let alone run it simultaneously with NT7.

NT7 crashed every time on close for me, and lots while running the app. I was not using any fancy indicators/systems, anything. Just basic charts & chart trader. I'm a 100% manual trader. This is a fresh install of XP Pro SP3 with only NT7 and Navigator installed.

If you need to use NT7, I wouldn't suggest MB Trading. If you are a high frequency KISS-type trader, I suggest MBT Desktop Pro. It is solid as a rock and only getting better and if you use limits, you get paid. If you need auto-trading, perhaps NT7 is a better bet.

I suppose to be fair I should say that while I think that NT7 is a poor quality product and felt I was hoodwinked into having to pay $180 to really find out about it's "issues," that it did execute the trades that I asked it to and I didn't lose any profit over those issues(because I was careful.)

As far as brokers go, you can't go wrong with MB Trading. No BS there. I have been very happy with them for several years, and now they pay for limits!

I was considering opening an account with PFG Best when I had the NT license. I can say that my correspondence with them was positive and I would consider opening an account with them still. One thing that is more attractive about them is "block trading" or "virtual sub-accounts" MBT does not offer this (although they do offer a multiple account trading interface.

Now that MBT pays for limits and has implemented the Pegged order type, I have no reason to go anywhere else, unless I need to trade more than their liquidity can provide and I'm nowhere near that!

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Old April 16th, 2011, 03:19 AM   #26 (permalink)
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i would say dukascopy is the best broker i ever trade .. lowest pip for eur/usd .. the most important ur money safe because they are swiss bank .. jforex platform is rock but it is java base so need more RAM if not it will be slow but its acceptable because i am discretionary trader with Price action .. so don't use many indicator..

im currently checking out platform that suitable as my second platform for testing purposes of new strategy .. looking for NT and Multichart ... both have strength and weakness ..

but i prefer Multichart as i like the language programming is not complex..but not sure of the capability like c#.. however so sad they left dukascopy behind ...

so i just stick to Jforex platform .. first time it's quite difficult but after 2-3 days u will get use to it.. i dream that they will have like atm .. i heard MC 7 will gonna have it .. as i said .. MC left dukascopy .. i think they prefer FXCM more .. yup they r businessman .. gonna get more money with fxcm pro ... unfortunately they dont realize that now many trader switching to dukascopy .. fund managers and also retail traders ... and they dont take advantage of this because dukascopy don't have high features platform .. MC offer connection to dukascopy but with FIX protocol .. no advantages at all .. u need to open up $100k and the data has no backfill .. if i were MC i will use all dukascopy platform disadvantages as advantages to MC .. they should support jforex api for connection ... this will attract serious forex trader n more sales to MC ..

if u r serious FX trader i really suggest u open up acct with dukascopy .. the data is reliable .. ur money is safe ..the spread the lowest in the market .. u can use volume as reliable indicator .. who learn price action .. volume is must because they r brother

last but not least the daily chart close follow GMT time .. u need to calculate ur self for new your session, london session and asian session if it does matter to u ..

Last edited by kami; April 16th, 2011 at 03:30 AM. Reason: GMT time and MC comment ...
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Old April 16th, 2011, 10:55 AM   #27 (permalink)
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I love Dukascopy data. Man it is top notch without question and available for download with a simple demo sign up. Someone with my same username has posted a lot of it on this site I just wish they offered other products besides spot in case I get an itch for some futures, or even the useless paper sometimes referred to as common stock Sorry, I can say that.... I help prepare the financial statements for a fortune 10 company and manage ALL the data for internal reporting. The company's name rhymes with "Horizon" and starts with a "V", and previously at Pilgrim's Pride where I constantly told them their data was incorrect and double counted... I guess bankruptcy a year after I left told me I won that argument. Ahh there isnt a company other than WalMart that knows what the hell is coming or going... Ever notice Apple's supplier's cannot seem to match Apple's growth rate? Someone should start a thread of suspicion company behavior... I can add quite a bit after I look at a statement of cash flows for about 4 minutes... But I digress... Thanks for your input on MC. I need to check it out. I too am in the $180 exploratory journey ,like Darkpool, of finding Ninja 7's issues with IB. And then just to increase my costs more, I also have to pay for a kinetick feed to fill in the 3 or 4 minutes of tick data that ninja misses while it loades up my workspace with 50+ charts orduring a reboot or internet outage, etc. I may be considered OCD when it comes to data, but that is how I make a living...


I hate to hear that Ninja and MBT dont work well for you. I already signed up for an account and was getting ready to wire them money on monday and get Ninja license switched. Those commissions are awesome on limit orders. I know I cant always win in the market, but one thing I can control is my cash expenses, and if I can save 50 dollars by putting a little effort in then I will. Using MBT I could eliminate the need for Kinetick (which is a complete waste if you trade spot only since you pay for 50 stock symbols that you will not use and then have to add an extra 25 for forex which doesnt have any useful volume) since MBT provides actual tick data and I could try and test autotrade strategies with much smaller amounts (Talking about microlots) then what IB would make me do. I know... why use real money for testing?... Real money, for some reason, seems to exponentially shorten my learning curve


I am currently using IB and Ninja for spot forex exclusively. I dont autotrade...yet and may never since I cant program worth a crap... so I often find myself wondering what value does NT7 add? I have no problem saying that if you use time based charts as opposed to tick created renko or range, etc.. then the answer is an resounding NONE! It actually has negative value. Here is why.. You can set up all the ATM stuff in your presets in TWS but here is the problem with ninja.. You can only do market, limit, and god forbid.. stop orders which have so much slippage that makes you think Ninja must be colluding with IB to share that profit. TWS gives you LIT, MIT, "easy" trailing orders on the fly to ENTER a position ( which alone can help you find yourself as that guy who is long 3 pips off the bottom before a 100+ pip move) I dont know about other programs like MC's order types, but it absolutely disgusts me every day how this is not the most important issue for an application whose only purpose is the order entry and exit of a trade. I could write a small novel how frustrated I get thinking how much time I have to waste because Ninja does not let me use a trail to enter a position... Guessing reversal prices is a headache and an unecessary battle especially when I could just open a 2 tick renko chart at any time of day and enter an order to enter using an x amount pip trailing stop and a limit to buy y amount of ticks UNDER that stop (long position here obviously) with a z pip target and "a" pip SL and "b" pip trail and win 80% of my trades, never taking a trade losing more than a pips while using all the margin available. There is a little more to my strategy than this, but it works without incurring a single day of losses on all 21 forex pairs that I follow. If anyone wants to work with me to program this strategy, then lets do it! I know a lot of people dont believe in backtesting, but if u have Dukascopy tick data then it works intrabar like a dream. or if someone can help me program a LIT order then I could do some extensive real time testing without IB rejecting my orders for having limit orders on the wrong side of the stop.

TLDR: If u want to use IB and Ninja then you will need an alternate source for tick data if your charts rely on it and Ninja gets disconnected (like when you automatically get signed out of TWS everyday and cannot log back in immediately...grrrrr!). Sign up for zen demo and get one year of futures data and then use ninja to store it from TWS. You will have to leave your computer on for the entire week. Dont need tick data and dont autotrade, then you will be paying for Ninja license for nothing but maybe a specific indicator that TWS doesnt have (Pretty steep price for a more than likely free indicator!). And dont forget that your order types will be far less sophisticated that what you get for free in TWS. During volatile markets, IB will make gaps on my renko charts which then makes me have to use Kinetick to fill in, but hey that is the only reason I pay for that overpriced feed. I hope I answered most of the issus before you have to pay to go down the same road. Been running errands this moring so sorry if I was all over the place in this message. Post any other possible questions before you have to learn the hard way! Just really think what Ninja's role would be in your trading process. Also IB does not let you run paper trading account anymore on separate machine, so any testing will have to be done while connected to your reall account as well. One way around this is creating a new user with access rights to the account and making sure this user does at least $30/ month in commisions to keep the data feed free.

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Old June 8th, 2011, 01:46 PM   #28 (permalink)
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wiosna View Post
... Has somebody an experience with London Capital Group (LCG) ?
Best regards. wiosna

LCG are the only ones with true EBS spot forex that I know of available for retailers. I spoke to ICAP EBS awhile ago who told me that CQG and some others that I do not remember the name of do not have the real institutional EBS feed. I told the guy that I am a retail trader and when we touch the matter of price for feed subscription both of us started to laugh. Meaning we both knew I could not afford the price. I never got to know the price for the same reason He eventually recommended me LCG.

LCG's EBS trading is done with EBS Prime. Minimum account opening is $50k. Minimum trade size is 1M.


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