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Breakout Journal - a journey to full time trading


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Breakout Journal - a journey to full time trading

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  #611 (permalink)
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


Silver Dragon View Post
I played around with Ninja a little bit.. still not 100% on going back to trading with it.

STILL, not a single problem with SC operating..


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  #612 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
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GaryD View Post
STILL, not a single problem with SC operating..

What broker do you use for Sierra in forex? I have noticed all of them don't offer OCO server based functionality. Less of a problem for longer duration trades though.

Trade to live. Not live to trade.
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  #613 (permalink)
Legendary Data Wizard!!!
Cincinnati Ohio
 
Experience: Intermediate
Platform: TastyWorks
Broker: TastyWorks
Trading: FX, Stocks, Options
 
Silver Dragon's Avatar
 
Posts: 1,892 since Feb 2011
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GaryD View Post
If I had any understanding when I first started trading, I would have traded forex. The scalability offers so many things that were just not possible in futures. Glad to see you trading it and keeping such good track of your progress and thoughts.

Being able to scale in and scale out to 1/100 of a full lot takes a lot of pressure off of trading, slows everything down considerably. Being able to pick the right "area" is so much easier than the "perfect entry". Have you played much with scaling?



@GaryD

I have come full circle; Started out trading Forex and then went to futures and now back to Forex. I now find Forex easier to trade than futures for the same reasons you mentioned.

Yes, I used scaling on my AUD trade last week. I plan on using it more as my trading progresses. Right now I am process of defining and testing entry rules which is causing me to look for the perfect entry. The other part of the equation is to determine what my "full position" size will be. From there I can then manage my risk by scaling into 1st position, 2nd position all the way up to the full position size. Then I can start looking for the right area instead of the perfect entry.


GaryD View Post
STILL, not a single problem with SC operating..



xelaar View Post
What broker do you use for Sierra in forex? I have noticed all of them don't offer OCO server based functionality. Less of a problem for longer duration trades though.

The broker I am using does not support SC. Thinking of changing. I am currently using a combination of MT4 for charting and their legacy software, which is horrible, to enter trades. I would like to use just MT4 but it requires me to open another account. The only other software choice is to use NT. But to @xelaar point; the OCO is on the client side which means if I get disconnected I run the risk of having a naked position. Normally this is not a problem if I were day trading, but since I am holding overnight it becomes a larger risk.

Does your broker use client side OCO orders or server side?

Robert

nosce te ipsum

You make your own opportunities in life.
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  #614 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received


Silver Dragon View Post
@But to xelaar point; the OCO is on the client side which means if I get disconnected I run the risk of having a naked position. Normally this is not a problem if I were day trading, but since I am holding overnight it becomes a larger risk.

Does your broker use client side OCO orders or server side?

Robert

From what I have checked no Forex brokers Sierra supports offer server based OCO. Nor futures, except CTS.
I don't think you can have Ninja with server OCO for Forex either. I would use MT4 instead, all except trailing is server based and it is quite robust if you pepper it with some short-cut scripts and trade management EAs.

Trade to live. Not live to trade.
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  #615 (permalink)
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


xelaar View Post
What broker do you use for Sierra in forex? I have noticed all of them don't offer OCO server based functionality. Less of a problem for longer duration trades though.

FXCM

 
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  #616 (permalink)
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


Silver Dragon View Post


Does your broker use client side OCO orders or server side?

Robert

FXCM offers free VPS. You can use platforms other than MT4, and the cost is waived if you maintain a 5k+ balance.

http://www.fxcm.com/products/metatrader-4/free-mt4-vps/

 
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  #617 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received


GaryD View Post
FXCM offers free VPS. You can use platforms other than MT4, and the cost is waived if you maintain a 5k+ balance.

https://www.fxcm.com/products/metatrader-4/free-mt4-vps/

Mt4 is fine. I've got impression you use Sierra with a server side oco.

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  #618 (permalink)
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011


xelaar View Post
Mt4 is fine. I've got impression you use Sierra with a server side oco.

I have not signed up yet although I do meet the criteria. I looked at Big Tick for the same reason, but still, just have not gotten to it. After 6 years I have not seen a condition where it matters for me in a short term trade. That does not mean it won't happen, and overnight, yes, I have been nailed hard. But I have order desks on speed dial and never trade without a phone. And it happens so rarely for me, just have a very stable connection I guess? I do have a dedicated line for trading separate from our wifi and cable tv, comes as it's own bill.

But this came up the other day when I had to call the trade desk about something else, where an order I had did not cancel. This is the email that followed;


"Gary,

Thank you for your interest in FXCM. Here is the link to the VPS signup. Remember, you can use other platforms on the VPS other than MT4 and the cost is waived if you maintain a 5k+ balance

Best regards,

Bobby Neary
FXCM
212-897-7660
rneary@fxcm.com "

 
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  #619 (permalink)
prague, czech republic
 
Experience: Intermediate
Platform: NT7, MT4
Broker: LMAX
Trading: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,740 given, 2,565 received


GaryD View Post
I have not signed up yet although I do meet the criteria. I looked at Big Tick for the same reason, but still, just have not gotten to it. After 6 years I have not seen a condition where it matters for me in a short term trade. That does not mean it won't happen, and overnight, yes, I have been nailed hard. But I have order desks on speed dial and never trade without a phone. And it happens so rarely for me, just have a very stable connection I guess? I do have a dedicated line for trading separate from our wifi and cable tv, comes as it's own bill.

But this came up the other day when I had to call the trade desk about something else, where an order I had did not cancel. This is the email that followed;


"Gary,

Thank you for your interest in FXCM. Here is the link to the VPS signup. Remember, you can use other platforms on the VPS other than MT4 and the cost is waived if you maintain a 5k+ balance

Best regards,

Bobby Neary
FXCM
212-897-7660
rneary@fxcm.com "

There are many workarounds. I was just curious if it really has serverside oco.

Trade to live. Not live to trade.
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  #620 (permalink)
New York
 
Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 166 since Aug 2010
Thanks: 122 given, 153 received



xelaar View Post
There are many workarounds. I was just curious if it really has serverside oco.

Hi Xelaar,

FXCM's Trading Station platform has server side OCO orders. We also offer the NinjaTrader platform which has platform side OCO orders. However, you can still log into Trading Station using an FXCM NinjaTrader login and place OCO orders on the account that way. MT4 does not have OCO orders, but again you can use an FXCM MT4 account login to access Trading Station to place OCO orders on the account.

Jason

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