Warning: MetaTrader 4 update!!!

Recently Metaquotes is rolling out the update 600 of their MetaTrader 4.
They were crazy enough to:
  • Make the update automatic and mandatory for everyone
  • Don’t warn anyone
  • Change the directory structure (that was unchanged from the past NINE years), just to mess with EA and indicators that supposed that the files position will never change
  • Change how some MQL functions are working, in this way many EA or indicators will stop working correctly
I’m really speechless, how it’s possible that they release a such destructive update, without warning and automatic for everyone???

Where to download the latest version of MetaTrader 4?

Well… you can download MetaTrader 4 everywhere.
Anyway, for a newbie is unclear which is the right download and the latest version.

For the latest version: you’re safe! The installer it’s just a downloader that will install the latest version on your PC.
For the right download, every brokerage company has a custom version: the difference is the server login address and the icon design. Which to choose? There are hundreds out there!
And if you want to create a demo account, every broker has different rules.
I tried many brokers and I recommend two of them:
If you want to have access to ZuluTrade, I suggest AAAFx. Their demo accounts have unlimited duration, provided that you connect at least once every two weeks. They don’t apply a commission on every trade, but their spread is higher than ECN brokers.

Download AAAFx MetaTrader 4

If you want to have low spreads, I suggest FXPRIMUS ECN Pro, the minimum account size is $100 (in average, an ECN account requires a bigger account size, around $500-$1000). Their demo accounts last 60 days. Doesn’t fit with automated scalping because the stop level it’s too high.

Download FXPRIMUS MetaTrader 4

Otherwise there’s IC Markets,
that also has an ECN account with a minimum size not too big. Doesn’t fit with automated scalping because in that case there’s too much slippage.

Scarica IC Markets MetaTrader 4

I quit using NumberOne

Last night NumberOne one EURJPY did a disaster, losing 20% in a few hours. It’s not small money!
On another account, Not_MaloMax, a free and opensource EA “written in 5 minutes” that works similarly to NumberOne, made a whopping 40%. But that was a small account… 🙁
Two months ago it wasn’t profitable because at that time the market required in-trend mode. Now it wants counter-trend. Today sensitivity must be set to 30 pip on EURUSD, tomorrow at 40, the day after tomorrow backtests are saying that with 25 we can have the best result…
I can’t foresee the future, with this market conditions and with MetaTrader it’s not possible to make impulsive scalping. I have a dedicated server, with much more “raw” power than a normal VPS, a very low ping, so it should work very well.

Twitter vs NumberOne

“Breaking: Two Explosions in the White House and Barack Obama is injured.”, this is the tweet sent from the Associated Press today. The news, obviously, is fake and was written by an hacker that gained control of their Twitter account.

But, even if it was a fake news, it had a real effect on the market, with a big spike that could have tripped several EAs, let’s see what did:
On SMFX I did not have a good result (breakeven with commissions), but on ILQ it did a wonderful job! After months of losses, finally I recovered everything, getting in the “green” zone again.
Correction: since ILQ doesn’t show commissions correctly, but just “withdraws” them, faking all the stats, I misinterpreted the results: today ended with a loss.

Last three weeks for H-E Spider

H-E Spider it’s a very interesting EA that I was about to buy, in fact in drafts I had a “what do you think about it?” post.
I know many people that use it with success and I see good results. A friend of mine bought it and recouped its cost in just a month with a $2000 account! Not bad!
It opens 4-5 trades every month, but it’s very accurate, targeting 40 pips, if you enable automatic allocation, it’s 1 microlot every 80 dollars.
Unfortunately, I just discovered that on 15th May it will removed from sales, new customers can use only the PAMM…
This EA sells for $250 + $50 yearly.
For whom is interested to buy it, I have three coupon codes, to insert in the shopping cart that will be opened from this link. (Note: this coupons codes are also shared with my Italian site + other forums, so act quickly 😉 )

15% Discount FORE-5LXJ-HSVM – 0 uses left
10% Discount FORE-9C23-CYRC – 5 uses left
5% Discount FORE-2XUN-CHTL – 10 uses left

Last chance for Tick Scalpers

NumberOne is my favorite EA, you can see how many posts I wrote on it.
Last summer it was a miracle, in three months I quadrupled my FXPRIMUS account (maybe it was working too well).
Unfortunately, in latest months the market volatility has drastically reduced.
I was hoping that after the election of the President of the USA things would go back to normal, instead it didn’t, the number of “failed” trades it’s too high to being profitable, as you can see in the graph of my public live myfxbook page.
Fortunately, NumberOne introduced a new trading mode that should radically change its operations: we will see in the next weeks if it can change the situation.

Big MetaTrader update

Today I got the notification for the update of the build 482 for MetaTrader 4.

Actually, it was released two weeks ago, brokers tested it before making available to customers.
There are three major improvements:
  1. Now the terminal can have up to eight parallel trading operations, making it better for multipair scalpers; until now they gave the infamous “trade context busy” error.
  2. One-click manual trading by pressing ALT+T
  3. Screenshots with automatic upload on mql5.com
The update wasn’t painless, both LMAX and ILQ sent me emails warning about the problem: some trades could not be visible.

What if MT4 runs better on a Linux server?

Today I was playing around to optimize the CPU usage on my VPS: MetaTrader uses a lot of it even while on weekends and by night, when it’s not in use:

Something that’s not widely known is that most of Windows VPS are actually emulated by Linux servers. On each Linux server there are 20-25 separated instances of Windows (according to the subscription price), they run completely virtualized: an huge waste of resources.
Instead, a Linux server can be virtualized in a “container”, with native access to resources, without overhead. I did an experiment: on the same Linux computer I measured the network latency of a virtualized Windows server and the network latency of a Linux “container”:

The linux VPS has less latency compared to the Windows one, because it doesn’t have to emulate a full operating system.
What’s good about a Linux VPS is:

  • It’s at least $15 monthly cheaper (it’s the cost of the Windows Server 2008 license)
  • Since it uses less resources, you can take a less powerful one, saving on subscription
What’s bad about it is:
  • “Hybrid” EA like NumberOne will never work on Linux+Wine (it does not work even on XP)
  • Linux is more complicated
  • Some sellers are putting up to 250 VPS on the same server, with obvious drop in performance.
  • If the seller did not configure the container very well, hackers can “make a hole” on the container “walls” and access your files

I bought Ray Scalper

Yesterday I bought Ray Scalper. I was watching it from some time, then I got a discount code to get it at a special price.
What I think about it? I like it!
The antipiracy activation it’s a bit “primitive”, you have to send an email to support asking to bind it to your account number, there isn’t an activation program or a web panel like on other EA, but in the end what really matters is that it works. Other ways to protect software from piracy maybe are more sophisticated, but will use more memory and more CPU time, what I really care about it’s making money, haha.
However, how does it work? I installed it yesterday and it started greatly!
Despite the name, I don’t understand what’s the “scalper” in it, it kept the first trade open for the whole night, and the other made 40 pips – usually scalping is making a few pips in a short time, right?
I won’t comment further, it’s too early and usually I bring bad luck, so…

Extreme slippage on IC Markets

Two weeks ago I opened an account with IC Markets to use it with NumberOne.
The first week I kept it at minimum risk, to see how it was performing: it was doing great, hence I raised the lots.
But this week was awful, I got extreme slippages!
Both on opening
2013.02.05 16:10:07   Unfavorable Stop-to-Market open slippage= 5,7 pips.
2013.02.05 16:10:30   Unfavorable Stop-to-Market open slippage= 3,1 pips.
2013.02.07 13:42:44   Unfavorable Stop-to-Market open slippage= 2,8 pips.
And in closing
2013.02.05 16:10:10   Unfavorable Stop Loss close slippage = 7.6 pips
2013.02.07 13:42:48   Unfavorable Stop Loss close slippage = 2.1 pips
2013.02.07 14:23:01   Unfavorable Stop Loss close slippage = 4.1 pips
What could be a nice win, thanks to slippage become an huge loss!
Even if the latest version is smart and detects big slippages:
2013.02.07 13:42:44   Adjusting the Stop-to-Market open slippage stop loss & take profit values.
in the end the result was negative. For now I will pause my trading at IC Markets and I will watch what will happen. I am angry.