The Future of MetaTrader - Mega Terminal
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Hello Traders, Investors, and Speculators,
The future of MetaTrader is about bringing the best efficient resources and tools to investors to reduce time and allow investors to engage in multiple trade entries in different brokerage accounts simultaneously. Mega Terminal also provides easy access to risk management tools to prevent losses or margin calls.
Mega Terminal
Whenever I think of a dream MetaTrader, I dream of an application that can perform any inputs related to trades on the search bar while the application runs in the background or is minimized.
The design of the software is not too complicated because the application follows a simple algorithm or data structure. The application is designed to enter trades, exit/ close a trade, apply stop loss, and take profits in different brokerage accounts at the same time from a single terminal. This gives an advantage to investors who want to buy more assets from different brokerage accounts simultaneously to own more assets or equity.
While the MetaTrader application is open and minimized, whenever a user types a trade-related input on the search bar, the MetaTrader algorithm should act on it and carry out its command. This is possible because the Mega Terminal can only place a trade, exit/ close a trade, apply stop loss, and take profits. So, the input on the search bar will be simple for the MetaTrader algorithm to carry out its task effectively.
When a user types ‘buy AMZN’ on the search bar, the MetaTrader algorithm should buy AMZN at the current price or show a prompt window that alerts users that Mega Terminal is about to buy AMZN at the current price and the volume/ lot size will be based on the last trade size because no price or volume is attached to the input.
(No, adjust price and volume
Or
Yes, continue and place the trade.)
Note: The regular format to enter a trade on the search bar would be position-volume-symbol-price. (Buy 50 AMZN 90.00).
This is followed by a 5-second sidebar that shows the profit and loss and transaction details. The sidebar goes away after 5- seconds unless the user hovers over the sidebar to keep the information on the screen longer. The sidebar could also have a separate tab that shows the remaining balance of the section where the transaction took place or has an effect rather than revealing the balance in the brokerage accounts every time a user takes a trade.
Each trade on the sidebar has B1 or B2 attached to the side to indicate the brokerage accounts that the inputs affect rather than revealing the exchange names.
Sidebar might look like fig-1, fig-2, fig-11 or fig-12.
Or the user clicks the sidebar to open the app to check the P & L, and transaction details.
Or type ‘show pl or P&L’ on the search bar, which will bring out the P&L transaction details on the side.
Regarding misspelled words in the search bar, Mega Terminal can show an eye-catching colour to catch users’ attention and alert them to any errors in their inputs.
e.g. (mostly misspelled words/stock names or symbol
or if the limit price is too low or far from the current price, or
if the sell limit price is too high or far from the current price.
Or if the symbol/ asset is not listed on the exchange).
The illustration in this example is straightforward. Whenever a user types ‘buy AMZN’ or ‘buy 50 AMZN (without a price attached),’ the MetaTrader algorithm will automatically buy the assets at the current price, and a 5-second sidebar shows the status and the current P&L of the trade.
· When going long and the price in the input is lower than the current price, the MetaTrader algorithm automatically places a buy limit order.
· Similarly, when going short and the price in the input is higher than the current price, the MetaTrader algorithm automatically places a sell limit order.
Why I Am Proposing a MetaTrader Change.
As I gained more knowledge about cryptocurrency, I began to acquire different kinds of coins and tokens. Eventually, I had so many coins that I could not track them, nor could I sell them all at once. Sometimes, I wanted to engage in spot trades with all the coins I had, but the process of swapping each coin and token for stablecoins was a daunting task. On other days, I want to buy many coins and tokens all at the same time, but the process is not easy as I have to search for the coin, look for exchanges and brokers that trade the coin, and I have to swap stablecoins for each coin and tokens which is time-consuming. I know other people might be in the same situation and would be delightful to see Mega Terminal come to their assets rescue. People with many kinds of cryptocurrency tokens, who also have currency and stock brokerage accounts and wish to access all exchanges at the same time. So, I began to think of the future of MetaTrader as Mega Terminal- to have similar features listed in this discussion paper.
The sole purpose of the Mega Terminal is to give advantages to investors with multiple brokers who want to access all brokerage accounts at the same time to buy or sell all of their assets with a single click.
The application will also have its own search bar.
For flexibility and ease of access. The designs are not limited to the illustrations on fig-3 to fig-7.
These designs could be attached to the side of the search bar, or the sides of the search bar should have different colours to indicate the brokers that are connected.
The colours beside the search bar represent how many brokers are connected live at that time, and any inputs into the search bar will take effect in the brokers connected. Fig 10 (with 3 brokers connected), for example. When a user types ‘buy SHIB’ and presses enter, the MetaTrader algorithm will buy Shiba Inu at the current price on the brokers/ exchanges connected. This is done by the medium of exchange or purchase the user agreed to on the respective brokers. Meaning the trade will only go through either by swapping stablecoins for Shiba or a one-time purchase with Debit or Credit cards if the cards have been saved on the respective brokerage account. Or swap any other tokens from either SPOT, ISOLATED MARGIN, USDS-M FUTURES, or COIN-M FUTURES for Shiba Inu. For stock-related inputs, BALANCE/ EQUITY is charged.
The method of exchange on the sidebar lets users know how they are being charged for the trades.
When using multiple brokers and a user types a symbol that is not listed on an exchange, an error message is shown in the sidebar, but the error will not affect the trades of other brokers connected. Sidebar might look like fig-11 or fig-12
Mixed Cryptocurrency and Stockbrokers
Stock-related inputs
With mixed brokers (crypto and stocks brokers), whenever a user types a stock-related input- ‘buy AMZN’ for example, the inputs will take effect on brokers that support trading AMZN and return an error in the sidebar if any of the brokers connected do not list or support trading AMZN. Sidebar might look like fig-1.
In fig-1, the third broker connected- B3 must have been a crypto exchange. AMZN is not listed on the exchange, and the method of exchange does not look like a stock brokerage account. B1 and B2 are stockbrokers.
Cryptocurrency related inputs
‘Buy SHIB’ for example, this input will take place on brokers that support trading Shiba Inu. And return an error in the sidebar if any of the brokers connected do not list or support trading Shiba Inu. sidebar might look like fig-2, fig-11 or fig-12.
Whether the application (Mega Terminal) should have its own search bar or not,
- It is just a design that gives ease of access from the desktop homepage. The Mega Terminal would still function properly without having its own search bar. The existing MetaTrader app could be updated and modified to have similar features as the Mega Terminal.
Why Develop Such an Application?
The application gives investors numerous advantages, including accessing multiple brokers/ exchanges at the same time from a single terminal, either for buying on multiple brokers to have more shares and quantities or for having winning trades across all exchanges. When prices/ markets do not go the way the investors desire, such an application could still be helpful to get out of trades instantly across multiple platforms or exchanges. That is a significant change in design and a feature that differentiates it from MT4 or MT5.
Mega Terminal is for investors with more than one cryptocurrency or stock brokerage account. With Mega Terminal, investors can place trades in all of their brokerage accounts with a click. Mega Terminal also has some risk management advantages; it allows investors to
I. Take profits from all brokerage accounts at the same time.
II. Close trades in all brokerage accounts at the same time.
III. Apply stop loss or take profits to open trades in all brokerage accounts at the same time.
IV. Send trading codes and signals to other Mega Terminal users.
& more.
These are some of the features I want to see on Mega Terminal. A feature that gives investors some advantage to buy or sell assets in all their brokerage accounts at the same time. More advantages to cryptocurrency investors who want to buy or sell all their tokens at the same time.
(Note: Some brokers will always ask for a buy or sell limit price.)
The same concepts will be applied to stocks. As investors can buy or sell all their shares/ assets in all of their brokerage accounts from one terminal.
Mega Terminal gives a comparative advantage to those who want to buy more quantities at the same time to own more assets in different brokerage accounts. While simultaneously providing stop loss and risk management tools at users’ fingertips with a single click.
Investors could buy the same assets in different brokerage accounts if the user thinks it is a winning trade. Or sell all the assets in their brokerage accounts from a single terminal to exit a trade or to serve as a risk management tool.
Multiple Trades (Connect to Mixed Brokers)
Taking multiple trades, including the accumulation of buys and sells, would or might be more frequent in the cryptocurrency markets than the stock market due to the commission and fees associated with trading stocks. The total sum of commission and transaction fees might appear quite opaque and daunting to the beginner or untrained observer, while all the information and details of the trades are accurate.
Note: Some brokers will include the transaction fees in the trade value, while other brokers charge the method of exchange for the fees. Cryptocurrency/ tokens might also be charged as trading fees. Check the method of exchange on fig-11 or fig-12.
B1 includes the transaction fees in the trade value and is charged $2 from Bank.
B2 does not include transaction fees with trade value. A $0.07 fee was added, and $2.07 was charged from the bank.
B3 takes cryptocurrency as transaction fees.
Therefore, if and when MetaTrader Mega Terminal is released, cryptocurrency users might be the most active for a while.
MetaTrader company will need to provide Live Server access to cryptocurrency exchanges so the crypto exchange can function properly on MetaTrader because MetaTrader is known for trading stocks, and most stockbrokers have MetaTrader Live server access.
Wasiu Akanji Saka.
@WasiuAkanjiSaka