Identifying traders using EAs in MT4 Manager?? - page 2
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Metaquotes doesn't do anything but supply the program. The BROKER configured it to block. As you SAID:
Hi everyone
Do we (as a broker) have any way to tell which of our clients are using EAs and/ or which trades are coming in from the EA?
Shouldn't you know that?!
IIRC Each order has a tag on it that shows whether it was placed manually, by script or by EA
That tag is visible at the server but is not fed back to the client view
-BB-
I think he's a broker-conspiracy-theorist pulling our legs. Instead of asking if brokers can differentiate Ea_vs_Manual he decides to act-broker. Yes, he should know, or someone in his company should know, or they could reach Meta-Quotes the people they bought the software from.
If a broker's blocking EA's then they're worse than the conspiracy-theorist's out here. What possible reason could a broker have for blocking EA's? My guess is that if they're a Noob-Broker, then they're blocking EA's thinking EA traders Make-Money. It cannot be because they believe EA-Traders Lose-Money. I mean, since when does a broker care who wins and who loses. And thus my question again, why limit your client-segment to only manual traders???
Since you've already been doing business with Manual-Traders-Only. If you allow EA-Trading and your Business Activity Increases then Bingo ... EA-Trading Helps. Why the freaking need for identification of individual EA-Trades??? <--Something everyone and their momma know brokers have anyways :)))
What possible reason could a broker have for blocking EA's? [...] If you allow EA-Trading and your Business Activity Increases then Bingo
EA trading only automatically translates to profit if your revenue is solely and purely related to volume. If you are not just taking a commission, direct or indirect, from each transaction, then extra volume will obviously tend to be beneficial, but can also create risk and loss.
A possible reason for blocking EAs is that you are running a B book, and you don't want an automated system exploiting weaknesses in the book and its infrastructure. As a general rule, the few scalping EAs which do actually work are targeting the specific infrastructure of specific brokers rather than any more general feature of "the market". The number of brokers who don't allow EAs is now small, because of the pressure of competition, but that doesn't mean that all of them like having to accept automated trading.
EA trading only automatically translates to profit if your revenue is solely and purely related to volume. If you are not just taking a commission, direct or indirect, from each transaction, then extra volume will obviously tend to be beneficial, but can also create risk and loss.
Oh, jjc, I'm under no illusion that the Bucket-Shops dont-like having me and my programming buddies in their joint. As a trader, if someone asks me "what does your career do to contribute to the well being of society?" I can always respond. I help make markets more efficient. Brokers who create bias-books shouldn't be surprise if someone tries to capitalize on the bias which they've created. Thus, in-efficient brokers will have to adapt or go out of business.
To me a broker not allowing EA's because of arbitrage Scalpers is like a Casino not allowing High-Stakes because they're afraid of Card-Counters. This is dumb because the gains they get from Rich-Players far out-weighs the 1.5% edge the CC can ever hope to exploit. The brokers primary job is therefore identifying who's exploiting their systems and baning those people.
I have no problem with in-efficient markets. If markets becomes truly efficient, it'll lose its appeal as a get-rich-quick investment. In the same way that Blackjack would lose it's appeal to "Otherwise Smart People" if they had to think "This game is not-beatable". In-efficient markets creates consistent traders, other's see them and too want to become traders. The broker is the hand-that-feeds-me therefore I cannot go around criticizing them and spreading conspiracy theories about the brokers.
My fear is if people keep complaining, it'll only become a matter of time before Fx is Centralized, and only the Big-Boys can play, for now it gives up-and-coming traders and brokerage-firms a starting chance. At least the ones who understand the game.
[...] Bucket-Shops [...]
There are plenty of brokers which are either (a) publicly quoted or (b) compelled to file substantive accounts because of regulatory rules. In either case, take the numbers which are in the public domain, and work out the average revenue per lot. In many cases it's much higher than the going rate in terms of commission-only transactions. The phenomenon has very little to do with bucket shops; it's arguably easier to set up a brokerage where all volume is passed through to an underlying liquidity pool than it is to set up a brokerage where there is risk sitting on your own book.
The brokers primary job is therefore identifying who's exploiting their systems and baning those people.
I've not followed this thread all that closely, but the original question looks as though it may be precisely to do with banning a subset of automated traders, rather than all of them.
Yeah, this is my guess too. I'm trying to get him to admit it :) tho, I wouldn't hold my breath.
Yeah, this is my guess too. I'm trying to get him to admit it :) tho, I wouldn't hold my breath.
Talk about conspiracy theories ...
Its a business decision whether to allow EAs or not. Metaquotes put a button on that turns the feature ON or OFF. In our case it was OFF so far. Plain and simple. Proper risk management or proper business sense in any type of business is knowing as much as you can about your clients. My question was plain and simple ... how can i know more about my clients use of EAs on our platform. Don't forget: not everyone is a programmer or has an IT background. I don't ... so therefore cant look at the server or whatever any other person with the know-how would do. All i am asking is if i could get a report to show me this.
Its not about blocking trades or blocking clients ...
Anyway ... since you spent more time coming up with theories than actually offering any real help ... we did contact Metaquotes and they did offer an explanation on how we can get the data we need.
I posted the question here thinking that collective knowledge on the internet would get me the answer faster than taking the time to call support ... apparently i was wrong.
Thanks to everyone who tried to help.
I posted the question here thinking that collective knowledge on the internet would get me the answer faster than taking the time to call support ... apparently i was wrong.
This is a forum about programming in the MT4 client terminal. You have asked a non-programming question relating to a piece of software which roughly 0.001% of forum participants will have ever seen. A generous analogy would be that it's like going onto an accountancy forum and asking "can anyone here give me legal advice?".