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FinGeR
2006.07.12 16:15
Hi , Do our brokers know which ea's or tactics we use? I think that they do, and they even know our names, how? 1) I have a friend who owns a forex brokerage - and he told me outfront that the brokerage is following the best traders , and when the best traders open a position they(the brokerage) usually follows. How they do it ? Thats easy : They just print the log of every account holder, and screen the traders that have the best %wins and follow them. 2) The comments that we leave like : EA'S with names... 3) Our strategies can be followed by a printout of our trades. My main question is : Can the brokers copy our ea's from the Experts folder? Ea's are very small programs, and they are memory resident most of the time - that means that Metaquotes is "aware" of the ea's - but can it transmit the ea's back to the brokers ? I think that yes ! fx-programmer |
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Step on New Rails: Custom Indicators in MQL5 In this article we will consider the indicators, their structure, drawing, types and their programming details, as compared to MQL4. I hope that this article will be useful both for beginners and experienced developers, maybe some of them will find something new. |
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TheEconomist
2006.07.12 22:35
I think this is a bad question. Actually many people are looking for server-based
solutions, like FXCM's Strategy Trading facility, which enables the user to trade
without even having his computer on, and not having problems with internet connection
or power outage. Of course in this case the broker has the EA and there's no need
to "spy" on the traders technique. This kind of service is very expensive
of this moment. The Strategy Runner FX, which is a third-party server-based platform,
has been implemented only by GAIN, GFT Forex and Man Financial. Of these three,
only Man Financial says about it on their website... And of course there are loads
of cash needed and high commissions per trades. At least MT brokers offer micro
mini lots and full hedging (i mean InterbankFX and Neuimex, (probably even Alpari)
cause FXDD doesn't). Expensive full automation solutions can't work anyway for
mini accounts (meaning under $500) trading full 10K lots. Anyway, many EAs are
profit capable; many cases of failure in automatic trading should appear because
the traders force EAs to work over sound trading parameters , applying excess leverage
and resulting in gradual losses due to EAs false positives..
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samson
2006.07.13 08:40
I think Finger has his finger on something very important. It's a very good question and it would be great if a metaquotes moderator, broker, or someone
in the system could respond and answer the questions fully. One danger is if a EA does particularly well and a large broker or even a bank
notices and uses it... they might be able to enter and exit faster than the creator
of the EA, and then perhaps move the market enough to screw over the creator! It
sounds far-fetched, but it doesn't matter, since we're talking about principles,
and far-fetched things in the present often are not so in the future. We have to
remember that online forex trading open to the masses is still in it's very infant
stage. I've even contemplated "what if every average american wrote a successful
EA and everyone made lots of money off it- this doesn't seem like a sustainable
economic condition"
I'm sorry TheEconomist, but I'm not sure what your point is. Are you saying 1) we're moving towards servers holding the EA's so everyones EA's will be known? and 2) There's just too many EA's to worry about one being picked over the other, 3) many fail so it's not worth it for the broker to investigate each EA? Kindly, Samson |
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TheEconomist
2006.07.13 09:54
Samson, You got my ideas pretty well. Why would they need our EAs? They have: 1.
the bid-ask spread (riskless profit) 2. loads of cash and access to interbank trading
- they can arbitrage all the time with fancy platforms like Reuters Dealing 3000
Spot 3. all that crappy advertising and forex education stuff with "high leverage",
"only $250", "tight stops".They're practically teaching investors
how to blow up their accounts... The more stops, the more's for them. I think that
nowadays no honest broker would allow mini accounts when minimum lot is 10K Why
in God's name to speculate when you can arbitrage the markets?
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stringo
2006.07.13 12:37
FinGeR wrote: No. It is impossible in the MetaTrader platform.My main question is : Can the brokers copy our ea's from the Experts folder? Ea's are very small programs, and they are memory resident most of the time - that means that Metaquotes is "aware" of the ea's - but can it transmit the ea's back to the brokers ? Your expert advisor program (script, custom indicator, library, dll, etc) is YOUR PRIVATE PROPERTY. |
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lmazon
2006.07.19 20:05
To be more specific, the EA runs on your local system. They cannot see it. All they
see is where you are entering and exiting your trade.
Lance... |