Why some great coders and trading system developers are ignoring Metatrader 5? - page 7

Hahaha! ;)

Thank you

I think there is more to this than meets the eye, the NFA banned hedging in the US claiming, customers might hedge without realizing there is no economic advantage to it. They also claimed customers might hedge without realizing they pay the spread twice. They also said brokers might encourage traders to hedge for the purpose of receiving the spread twice. This is BS. Traders might do a lot of things without realizing there is no economic advantage to it, that is their fault for not learning before they spend their money, and since when did the government care if traders lose their money ?

If they really were concerned that brokers might cheat the public why didnt they legislate on price feed manipulation ? Why didn't they legislate that trading platforms must meet standards before they can be offered to the public ? Why didn't they legislate that brokers must offer their clients at least one years verified backtesting tick data ?

What I think is more likely, a highly profitable "holy grail" trading strategy was identified (probably a high frequency one) and the NFA were tasked with writing legislation to prevent that strategy being used in the US, the NFA found the strategy could be prevented by the first in first out rule, and by preventing traders from holding long and short positions at the same time.

The whole Hedging equivalent thing is a Paradox IMO. Here's a Scenario, poor news trader is waiting for a High_Impact Release, the market right now is cool_calm_silent. Within 5_mins or so it's gonna be share chaos out there. High_Spreads, High_Slippage, Some Brokers Freezing Platforms.....Blah....Blah. What should our poor trader do?

-A: Hedge, Set a 20Pips Take_Profit in either Directions.

-B: No-Hedge, [Equivalent at this Point]. Do Nothing.

-C: Straddle, Place Buy@+20 && Sell@-20.

-D: Straddle, Place Sell@+20 && Buy@-20.

-E: Just Buy, Create Stop_Loss@-20.

-F: Just Sell, Create Stop_Loss@+20.

Now who wants to tell me the Correct thing to do? [Hint: Hint: the NFA] .

Of_Course when I do-tell people which way price Will go. Everyone knows the best moves :-). However, this is the real-decisions a trader may face daily. Who's gonna consider hedging when they have a crystal_ball within their hands.

I want to remind that this article MetaTrader 5 - More Than You Can Imagine! was published in mql4 so I think I am in write please. If not so sorry.
My opinion about MT5 (and everything related to this thread) is my personal opinion. It is not opinion of moderators (at least - I did not confirm with them this topic).

As to great coders ...
Well ... let say in different way: old school coders.
They were always keeping balance of interests: 
- they made some free coding for the forum
and
- they made commercial coding of some more advanced tools.

They decided by themselves about the following: what will be uploaded for free, and what will be going to commercial.
They decided it based on people's interests helping the others in most popular threads.

In this case - forum will be going to be more developed - most popular threads got free coding assistance, but advanced versions of free tools were sold by Market place on the way as "do you like my indicator/EA in this very popular thread? if you need more advanced version - go to Market Place ...".
More free coding to help the popular threads = more cliets for commercioal services to buy some 'same but advanced' tools.

I am sorry for my complicated explanation. I am affraid that my explanation is confusing ...

My opinion: it should be balance of interests between commercial and free activity, between 'develop the forum' and 'develop MT4/MT5 service', for MT4 and for MT5 as well.
It is the only way to develop any MT4/MT5 forum to be growing in this difficult time.

I know why some old school coders do not want to go to MT5 coding: some of them replied to my email for example .... to make it shortly: they do not like MT5.
But I am sorry: MT5 is in the beginning of the way, but MT4 is finishing in any way. It is better to be first in case of something was started than to join it later together with everybody.

Anyway - it is the people's choice.


 

Just something about backtesting.
There are some members of this forum who knows me. And they know my very critical opinion about backtesting especially related to commercial situation.
For example: backtesting of MTF EAs, and EAs coded with some indicators on open bar/high/low of the bar (Firebird EA some versions for example), and using indicators showing different values for different brokers (iTrend for example).
For my understanding - backtesting is not valid in those cases (for every tick) - if we are talking about backtesting as a proof that some commercial EA is profitable. I mean - everybody can use it ... but backtesting results in those cases can not be the proof that EA is profitable and ready to sell in the Market for example.

I know that strategy tester is more advanced for MT5 compare with MT4 (I created few EAs using MT5 Wizard and Molanis builder for MT5) and I am optimizing the settings for now.
Strategy tester for MT5 is more faster, and I can optimize in multi-currency way. There are some good article about it:
The Algorithm of Ticks’ Generation within the Strategy Tester of the MetaTrader 5 Terminal
Well ... I will optimnize the settings and use such as 'forward test' for strategy tester ... why name is same as for MT4 ('forward test') but meaning is different?

I did not buy anything on the Market yet ... I may be buy something ... but I will not see the code before I buy, right? So, can buy anything. Yes, I know that demo version is provided for limited time with expiration but for strategy tester only sorry. So, I must know this strategy tester very well just to recognize any holy grail using my intuition and strategy tester with very short time ... and if I will buy something ... not just EA ... "something" - this is my problem?
It is about Market for MT5.
So, I should trust the vendor, right? Because I can not look inside his code before I send money to him, and because he can provide demo with expiration (trial) but for backtesting only for some limited time.

So, if the coder is unknown and did not make any public development so no way for him to sell his holy grail or his "black box" or his "something" or his goods to us, right?
or someone will buy few copies anyway just to try?

Does anyone have experience with the Market?
I have experience with Job in MT5. 
Let's share experience.

Backtesting for MT4 is related to coding? If not - no problem because I am not fan of it.
Coding for MT4 on high/low of the bar, on open bar or in MTF way and selling EAs based on backtesting results on every tick - it is realted to the coding?

Ok, no Market in mql4 - no problem.

But Job - there is some arbitration for example? Internal one or connected with some legal institutions?
Can anyone share experience with it?

I used Job but indicator was coded by my friend and I trusted him.
And what about EAs?
How simple man can know that he received normal EA according to what he described?
Does the person should describe everything on the way as "value of this indicator on bar #1 < the value of this indicator on bar #2 & .... " ....
or ... where is the section of this forum or some threads to receive the information about it?
What is general opinion of the users/clients of Job who requested EAs for example?

let's share experience how the coders are coding for the people, which rules, we like those rules or not.

=========

Hi RaptorUK,

Those my questions are not off-topic?
if it is off-topic so please - can you tell me the section of the forum inside mql4 where I can receive this information from the people?
because a lot of aggression ... you know my case ... and the other case on Job was yesterday where one client opened the job only because he wanted to punish coder publicly ... 
If we can receive many opinions (any opinions, irrespective off) so we can appear to metaquotes to change something (if it is related to them for example).
And you know my opinion about profile vs anonymous.

Does the metaquotes are checking identity of the coders on Job service?
Because I do not know ... I just paid ... I am not a coder.

of course, I will check the threads here for same information.
but it may be good to collect everything in one place with discussion.
because it is the only way to change something if we want so.