Smart Live Markets - Spread Bet on MT4

[jd1888]

Hi SLM

With the iphone app are you able to view charts as well as bid/ask quote or just the bid ask quote?

Thanks

 

[Smart Live Markets]

Hi SLM

With the iphone app are you able to view charts as well as bid/ask quote or just the bid ask quote?

Thanks

Hi

Yes you can view charts, check your open positions and P+L and of course see all the market bid offer prices.

We will me adding a section to our website soon when we officially launch it.

Regards

SLM

 

[zorba_g]

Thanks for the nice comments.

Here is an exclusive for you guys..... we have launched an iPhone App for MT4.
So you can now spread bet anywhere using MT4.

Just go to the App store and search for Smart Live...the app is free.
We need to make a couple of small changes to it, but it works very well.

Your views would be appreciated as always.

Regards
SLM

Dangnammit! Now I'm gonna have to git me one o'them fancy-pants iPhone thingums.
And there was I, hoping for a simple MT4 for my WM6 phone.

Whilst I'm here - is there an easy way to convert 'normal' lots to SLM lots? I have subscribed to signals which are in recommended lotsizes per £x of account balance, but I keep getting different results. Even a formula would be great.

 

[Smart Live Markets]

Dangnammit! Now I'm gonna have to git me one o'them fancy-pants iPhone thingums.
And there was I, hoping for a simple MT4 for my WM6 phone.

Whilst I'm here - is there an easy way to convert 'normal' lots to SLM lots? I have subscribed to signals which are in recommended lotsizes per £x of account balance, but I keep getting different results. Even a formula would be great.

Hi
Well it depends what you are trading.
As you know, the traditional lot size is where 1 lot equals 100,000 nominal amount of currency.
So for things like EudUsd, GbpUsd this is $10 per pip (100,000 x 0.0001).

For spread betting on MT4 we have made 1 lot equal to £1 a pip.
At current exchange rates $10 a pip is equal to £6.35 a pip.

So in the above examples if you simply multiply the normal lots by 6.35 then this would give you what you require in SLM lots ..ie pounds per pip.

Thus 5 normal lots of EurUsd is equal to (5 x 6.35) = £31.80 pounds per pip.

I hope that helps, assuming that’s what you meant.

Regards
SLM

 

[goose4]

I dont have an iphone but may get one if its worth it.I trade from home but would be nice to be flexible.

What its like trading on the iphone? Speed? anything else? Will it crash?

As I have never even looked at trading via phone or ever traded from a phone.

Thanks paul..

 

[Smart Live Markets]

I dont have an iphone but may get one if its worth it.I trade from home but would be nice to be flexible.

What its like trading on the iphone? Speed? anything else? Will it crash?

As I have never even looked at trading via phone or ever traded from a phone.

Thanks paul..

Hi
It is actually very good, and I am not just saying that.
You can trade on the iPhone and have MT4 open on your PC and you can see your trade appear instantaneously.

Hopefully we will have a section on our website in a week with pictures and a video to give you an idea of what it does and how it looks.


Regards

Paul
SLM

 

[goose4]

Great cant wait..

Aw it is paul.Your a very helpful nice guy...

 

[zorba_g]

Hi
Well it depends what you are trading.
As you know, the traditional lot size is where 1 lot equals 100,000 nominal amount of currency.
So for things like EudUsd, GbpUsd this is $10 per pip (100,000 x 0.0001).

For spread betting on MT4 we have made 1 lot equal to £1 a pip.
At current exchange rates $10 a pip is equal to £6.35 a pip.

So in the above examples if you simply multiply the normal lots by 6.35 then this would give you what you require in SLM lots ..ie pounds per pip.

Thus 5 normal lots of EurUsd is equal to (5 x 6.35) = £31.80 pounds per pip.

I hope that helps, assuming that’s what you meant.

Regards
SLM

Extremely helpful and clear! So a minilot would be 63p and a microlot 6.3p, based on current rates (assuming we're talking about USD quote currency)?

Regarding iPhone app - it will be useful to close trades whilst out and about at the very least.

 

[Smart Live Markets]

Extremely helpful and clear! So a minilot would be 63p and a microlot 6.3p, based on current rates (assuming we're talking about USD quote currency)?

Regarding iPhone app - it will be useful to close trades whilst out and about at the very least.

Hi
Correct, although with us the amount has to be to the nearest 10p. So you would have to do 0.60 lots for 63p and 0.1 lots for 6.3p.

Regards
Paul
SLM

 

[francisfinley]

few questions.... which may have been asked before but the search facility...............

whats the maxium number of EA's i can run on the account or should i say maximum number of pending orders i can input?

do you allow scalping?

are you going to offer 1pip EU round the clock?

i want to be upfront about my technique and find out who offers a spread on EU <1 and allows scalping with no delays or very little requotes, it doesn't have to be MT4... thanks in advance.

 

[Smart Live Markets]

few questions.... which may have been asked before but the search facility...............

whats the maxium number of EA's i can run on the account or should i say maximum number of pending orders i can input?

do you allow scalping?

are you going to offer 1pip EU round the clock?

i want to be upfront about my technique and find out who offers a spread on EU <1 and allows scalping with no delays or very little requotes, it doesn't have to be MT4... thanks in advance.

Hi
We have no plans to offer EurUsd at less than 1 pip and we also have no plans to offer EurUsd at 1 pip round the clock. We are not here to be had over, and that is exactly what would happen, so if that is what you are after then good luck finding somewhere that will facilitate that for you.

With regards to scalping, it depends what you mean, as there are different definitions for it. We ultimatly hedge all positions, but not instantaneously, as this is hard with the number of markets we offer and the small bet size we accept. So if all you are going to do is deal in and out in 5 seconds over figures, then you will not be very popular. However there is no issue with you just trading in and out making a pip, if thats what you mean.

We do offer an STP facility for the top 24 currecny pairs on our FX/CFD platform and will be introducing this soon for spread betting for those that want it. But of course this means variable spreads, so this may be more suited to your needs. But the EurUsd will be wider than 1 point fixed, I can tell you that!


With regards to requotes, these do occasionally happen. If you quote a market 1 point wide then it is what will happen. If we made the EurUsd 3 pips wide then it would not.
But funny enough, people prefer it on 1 point.

With regards to pending orders, as far as I am aware there is no limit. But if you have got some silly EA that leaves 50,000 pending orders then questions will be asked as that just ties up server space.

I hope that answers your questions.

Regards
SLM

 

[francisfinley]

Hi
We have no plans to offer EurUsd at less than 1 pip and we also have no plans to offer EurUsd at 1 pip round the clock. We are not here to be had over, and that is exactly what would happen, so if that is what you are after then good luck finding somewhere that will facilitate that for you.

With regards to scalping, it depends what you mean, as there are different definitions for it. We ultimatly hedge all positions, but not instantaneously, as this is hard with the number of markets we offer and the small bet size we accept. So if all you are going to do is deal in and out in 5 seconds over figures, then you will not be very popular. However there is no issue with you just trading in and out making a pip, if thats what you mean.

We do offer an STP facility for the top 24 currecny pairs on our FX/CFD platform and will be introducing this soon for spread betting for those that want it. But of course this means variable spreads, so this may be more suited to your needs. But the EurUsd will be wider than 1 point fixed, I can tell you that!


With regards to requotes, these do occasionally happen. If you quote a market 1 point wide then it is what will happen. If we made the EurUsd 3 pips wide then it would not.
But funny enough, people prefer it on 1 point.

With regards to pending orders, as far as I am aware there is no limit. But if you have got some silly EA that leaves 50,000 pending orders then questions will be asked as that just ties up server space.

I hope that answers your questions.

Regards
SLM

answered perfectly.

stp sounds interesting for sb'ing!!! do you have a rough idea of max spread on EU? and given it will be stp i take it you wouldn't give 2 hoots about me scalping to death?

 

[Smart Live Markets]

answered perfectly.

stp sounds interesting for sb'ing!!! do you have a rough idea of max spread on EU? and given it will be stp i take it you wouldn't give 2 hoots about me scalping to death?

Hi again,

Well STP is an interesting beast.

In theory there is NO maximum spread. We like most people have a sort of black box that takes live trading feeds from up to 10 top global FX providers and aggreagtes them to the best price available. But 10 seconds before non farm payroll, or late in the evenining on a US holiday .. I have seen EurUsd go to 10 wide occasionally.

It just depends on how the liquidity providers are feeling at the time.

With regards to you scalping to death, let me explain something.
Some of our so called competiors advertise "scalping welcome". Oh really.
These adverts are probably written and agreed by a bunch of people who actually have very little experience of the real world.

While you scalping continously on an STP platform would not affect us directly in the short term, it would in the long run. The banks that ultimatly keep getting had over by you would approach us and either say they did not want to provide us liquidity any more, ot they would simply widen their spreads, which in turn means everyone gets a worse service. That is how it works, which if you think about it makes sense.

There is nothing clever about scalping which is why ultimately, no matter what anyone says, if you are profitable at it you will not be allowed to continue. Joe Lewis is arguably the most famous FX trader in the world and made over $2billion by trading, not scalping !

Regards
SLM

 

[francisfinley]

Hi again,

Well STP is an interesting beast.

In theory there is NO maximum spread. We like most people have a sort of black box that takes live trading feeds from up to 10 top global FX providers and aggreagtes them to the best price available. But 10 seconds before non farm payroll, or late in the evenining on a US holiday .. I have seen EurUsd go to 10 wide occasionally.

It just depends on how the liquidity providers are feeling at the time.

With regards to you scalping to death, let me explain something.
Some of our so called competiors advertise "scalping welcome". Oh really.
These adverts are probably written and agreed by a bunch of people who actually have very little experience of the real world.

While you scalping continously on an STP platform would not affect us directly in the short term, it would in the long run. The banks that ultimatly keep getting had over by you would approach us and either say they did not want to provide us liquidity any more, ot they would simply widen their spreads, which in turn means everyone gets a worse service. That is how it works, which if you think about it makes sense.

There is nothing clever about scalping which is why ultimately, no matter what anyone says, if you are profitable at it you will not be allowed to continue. Joe Lewis is arguably the most famous FX trader in the world and made over $2billion by trading, not scalping !

Regards
SLM

not sure im with you.

what are you saying here? if you are consistently making a profit you cannot trade anywhere? whats the point in trading at all?

i thought the STP model revolves around the broker making the money on the spread/commission? just like every other mother hubbard in the city doesn't really make any real profit they just make money on volume?

if your telling me that if you have a system whereby you generate consistently high profit (think about it, it doesn't matter how you do it and it shouldn't be up for discussion of how that profit is made) you cannot trade anywhere then i may as well pack up and go back to the rat race - because what is the point?

or is this the reserve of banks

 

[Smart Live Markets]

not sure im with you.

what are you saying here? if you are consistently making a profit you cannot trade anywhere? whats the point in trading at all?

i thought the STP model revolves around the broker making the money on the spread/commission? just like every other mother hubbard in the city doesn't really make any real profit they just make money on volume?

if your telling me that if you have a system whereby you generate consistently high profit (think about it, it doesn't matter how you do it and it shouldn't be up for discussion of how that profit is made) you cannot trade anywhere then i may as well pack up and go back to the rat race - because what is the point?

or is this the reserve of banks

Hi
No, thats not what I said.
We were talking about scalping using STP.

No one minds you making a profit. But if you make that profit consistantly by scalping, then eventually you will not be able to. Try it, you will find out I am right.

FX is not exchange traded. If it was it would be anonymous, but the way FX works whoever gets hit on a price, knows who hit them. They will not know it is YOU, but they will know that it was a client of XYZ broker again. If that broker (because of you) keeps having that bank or several banks over then they will widen their prices or pull the line.

If you are clever and do not get too greedy and can stay under the radar then that is a different story.

Trust me, I know what I am talking about.

No one minds you making a profit normally. ie By dealing on a legitimate price, giving the counterparty time to decide where to hedge it etc. But if all you are trying to do is have someone over, which is what the type of scalping you are talking about is, then you will be found out.


Regards
Paul
SLM

 

[francisfinley]

Hi
No, thats not what I said.
We were talking about scalping using STP.

No one minds you making a profit. But if you make that profit consistantly by scalping, then eventually you will not be able to. Try it, you will find out I am right.

FX is not exchange traded. If it was it would be anonymous, but the way FX works whoever gets hit on a price, knows who hit them. They will not know it is YOU, but they will know that it was a client of XYZ broker again. If that broker (because of you) keeps having that bank or several banks over then they will widen their prices or pull the line.

If you are clever and do not get too greedy and can stay under the radar then that is a different story.

Trust me, I know what I am talking about.

No one minds you making a profit normally. ie By dealing on a legitimate price, giving the counterparty time to decide where to hedge it etc. But if all you are trying to do is have someone over, which is what the type of scalping you are talking about is, then you will be found out.


Regards
Paul
SLM

nope, all i do is create robots that are made from simple mt4 indicators. that should never be confused and will never be on a level with these guys making the 5 second stuff / arbitrage.

 

[Smart Live Markets]

nope, all i do is create robots that are made from simple mt4 indicators. that should never be confused and will never be on a level with these guys making the 5 second stuff / arbitrage.

Hi
Well I am sure that's fine.
With respect, you are the one who used the words "scalping to death", and that paints a different picture.

Anyway, that killed an hour... 2 more to go

Paul

 

[gle101]

Closing the account is ok by me, that is the SB's privelige. Manipulating exiting targeted clients is another thing altogether. Financial spread betting is categorized as gambling, means they can say they don't want you as a client. They are not allowed to "rig" the tables, but correct, they will shut you down if you have a much above average winning system.

 

[francisfinley]

Hi
Well I am sure that's fine.
With respect, you are the one who used the words "scalping to death", and that paints a different picture.

Anyway, that killed an hour... 2 more to go

Paul

yeah essentially it is. but i think it would be tough to do that the way i have my stuff setup. 5 second stuff it aint.

the good old trend system works wonders and the breakout got raped today.

 

[Ross Spur]

'Legitimate prices' has always been confusing to me... If a SB quotes a price then that's what the client has to use, so how is it that they can then say the price was wrong, as though that was the client's fault?

Also, is 'scalping' OK on indices, as the price is based on a real market and there doesn't appear to be a problem with those poor banks being 'had over'?