What do you dislike most about MT4?

Rambo35

Corporal
Messages
280
MT4 is the most popular trading platform among retail traders and every forex broker offers it as demand is high. I think it is not a bad platform (depending on how you modified it), but there are things that should be improved, at least in my opinion.

One of my biggest problems is navigation between charts. I always have more than 20 charts open so I can analyze them and I really hate the horizontal scroll. I think they should think of something different. I also think a design change would not hurt at all.

What are your biggest issues with MT4?
 

Joh

Sergeant Major
Messages
976
My biggest dislike is that if you have 3 or 4 MT4 accounts they apparently interact (i am no expert and am not sure how or why it operates as it does) but when you close positions on various platforms lets say at NFP time and you are sure you have closed the positions and are stone cold sober :) - the same curr. pair trade mysteriously re appears. Which if you see it quick enough you can close at a loss especially at NFP time that can be more then you want to lose.

I have talked to the brokers about this - one broker told that it can happen when you have more then one platform open ( it has happened to me more then a few times ) the same broker said the way to avoid it is to have only one platform open at the time which in my eyes forfeits the purpose, as time can be of the essence especially with interactive pairs and they coincide - i now double check my platforms each time i close a trade- but find it a nuisance and frankly see it as another rip of.

Would like to hear if this is happening or has happened to anyone else? And how do you handle this?
Any suggestions anyone -am not keen to close these accounts until i have closed my long term trades.
 

Pharaoh

Colonel
Messages
20,013
I'm going to have to go with the existence of Virtual Dealer Plugin software. MetaQuotes could take steps to keep these sort of cheat software from working, but instead they just try to take down the videos that prove the existence of the VDP.
 

LoRio

Sergeant
Messages
484
Strategy Tester . gaps and tick interpolation .Thank god for Gain Capital and programming .
 

Joh

Sergeant Major
Messages
976
Strategy Tester . gaps and tick interpolation .Thank god for Gain Capital and programming .


Thank you Pharaoh and LoRio for your replies,

Sorry but i do not understand what your reply (replies) actually means/says - to me it sounds like other computer language i have read which also sounds like a foreign language. May i ask both of you pls if possible - pls could you explain it in a different way?
 

Pharaoh

Colonel
Messages
20,013
I'm referring to cheating software that the broker can install on the back end. Imagine if your order is deliberately delayed for a short time (from a couple hundredths of a second up to several seconds). Your order is then filled at the worst price available during that time.

The VDP does that and more. It can be set up to have the same settings for everyone or can have special groups or even special settings for individual traders.

MetaQuotes (the makers of MT4) keep taking down videos on YouTube that show the VDP in action. They want traders to think it doesn't exist. Too bad this will fail. The VDP has been referenced in NFA actions against some brokers. It's a little hard to fine a broker for using a fictional product.
 

LoRio

Sergeant
Messages
484
Strategy tester : The backtesting solution of meta quotes for preparing your robots for real market trading.

Backtesting : Applying your algorithm to previous date ranges to gauge how well your robot trades.

Gauge : To decide if drawdowns will be harmless on a live account and if profits will be ... profits.

Gaps : Strategy tester has plenty of those , where days or weeks are not calculated in your backtesting session

Gain Capital : They provide tick data .

Programming : Taking Gain capitals data and creating your own backtester , especially if you
aim to develop a scalping algorithm.

Jameson Whiskey : Needed whether testing on StrategyTester or programming your own backtester.

Boobs : same with jameson.

P.S Sierra Chart looks pretty accurate in simulations
 

Triantus Shango

Sergeant Major
Messages
1,372
god but this is a question cherry picked just for me. ;D unfortunately, i don't have time now to give an exhaustive answer, and believe you me, were i to start, no one would read it as it would go on for pages.

anyway, thank you LoRio for coming to the inevitable conclusion. for backtesting Sierra Charts rules, but so does Multicharts and eSignal.

as for GAIN Capital, well, ok they give you tick data. but Integral's TrueFX gives reference historical data that goes back years and is supposed to be even more accurate. and it's free to boot. Integral is an ISV enabling institutional ECNs, so unless GAIN uses them in the back, i'd put my trust more in Integral than GAIN (just because of GAIN's tarnished past. nobody, and i mean, nobody fools me twice! ;) )
 

Joh

Sergeant Major
Messages
976
I'm referring to cheating software that the broker can install on the back end. Imagine if your order is deliberately delayed for a short time (from a couple hundredths of a second up to several seconds). Your order is then filled at the worst price available during that time.

The VDP does that and more. It can be set up to have the same settings for everyone or can have special groups or even special settings for individual traders.

MetaQuotes (the makers of MT4) keep taking down videos on YouTube that show the VDP in action. They want traders to think it doesn't exist. Too bad this will fail. The VDP has been referenced in NFA actions against some brokers. It's a little hard to fine a broker for using a fictional product.

Thank you from my heart Pharaoh and LoRio.
Wow am bowled over-

You have affirmed what i have been suss of for quite some time -there have been a few other nasty things going on and i have been constantly frustrated to the stage of questioning my sanity - fight hard to stay positive, telling myself one day i will get out of my trades.

Your reply also make me think the odds are against me with this kind of unethical/unscrupulous business dealings -i am obviously miles out of my depth and they know that - i have no clue how to do the back testing of programs on the computer and or to fight them at their game myself and need to find someone that can do this back testing for me -where do i start? Any suggestions? -

Then when successful they probably revert back to endless disconnections. OMG do they do this to everybody or a selective few?

This is worse the pokies/slot machines at least one knows when one plays them the ration is 50/50 or 70/30
Dumb A .... me was hoping to supplement our pension- now 3 yrs later working up to 15hrs a day learning the above - God help me!
 

Pharaoh

Colonel
Messages
20,013
The good news is that the NFA keeps jacking up the fines for this sort of thing. Despite all the other idiocies the NFA does, this (and their rules limiting retroactive trade cancellations) make trading with NFA regulated brokers much safer than trading anywhere else.
 
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