Articles by: David Williams

MT Forex Brokers Point of View

Seeing Things from Your MetaTrader Broker’s Point of View

You have a pretty important relationship with your MT broker, so I think it’s valuable to try to understand your broker’s perspective.

Also, at times, you may feel your broker is your enemy! In that case, it’s definitely worth it to learn more about what goes on in the mind of your broker.

Below is a link to a somewhat technical description of a “broker’s road-map”.  The article is meant for current or prospective MetaTrader brokers, so it’s a great opportunity to see how they operate and what’s important to them.

There are a few terms that may be foreign (Googling usually helps with these).  Two important terms that you may not be familiar with are A-book and B-book.

 The A-book contains trades that the broker passes through to the exchange/bank. The B-book contains trades that the broker keeps in-house because (1) they think it is a sure losing trade and they can profit by holding it; or (2) more likely, they can match the trade against another opposite trade – so there is no risk in holding both positions.

 

Forex Broker's A Book and B Book

Broker Competition: Are They Crooked

I don’t think keeping a B-book necessarily makes a broker crooked. (Matching trades just makes good business  sense).  What’s interesting about the article is how competitive the broker business is. High competition can bring out the best – or the worst – in people.  Feel Free to leave your thoughts below.

Here is the link: http://www.scribd.com/doc/219564587/Roadmap-for-Forex-Brokers

 

 

MetaTrader MQL Course Index

Complete MetaTrader MQL Course Index

Course 1: Getting Started with the MetaTrader Platform

Module 1: The Platform
http://www.iexpertadvisor.com/metatrader-mql-course-module-1-the-metatrader-platform/

Module 2: The Expert Advisor
http://www.iexpertadvisor.com/metatrader-mql-course-module-2-the-expert-advisor/

Module 3: Opening a Trade
http://www.iexpertadvisor.com/metatrader-mql-course-module-3-opening-a-trade-using-ordersend

Module 4: Using an Indicator
http://www.iexpertadvisor.com/metatrader-mql-course-module-4-using-an-mt-technical-indicator/

Module 5: Trade Management Using OrderSelect
http://www.iexpertadvisor.com/metatrader-mql-course-module-5-trade-managing-using-orderselect/

Course 2: Building and Running Expert Advisors

Module 6: Closing a Trade using OrderClose
http://www.iexpertadvisor.com/metatrader-mql-course-module-6-closing-a-trade-using-orderclose/

Module 7: User Functions in MQL
http://www.iexpertadvisor.com/metatrader-mql-course-module-7-user-functions-in-mql/

Module 8: Opening Trades for Any MetaTrader Symbol
http://www.iexpertadvisor.com/metatrader-mql-course-module-8-opening-trades-for-any-metatrader-symbol/

Module 9: Using MQL Time-Based Rules
http://www.iexpertadvisor.com/metatrader-mql-course-module-9-using-mql-time-functions/

Module 10: Implementing a Cross-Over with MQL programming
http://www.iexpertadvisor.com/metatrader-mql-course-module-10-implementing-a-cross-over-with-mql/

Course 3: Expert Advisor Advanced Concepts

Module 11: Using Channels in an Expert Advisor
http://www.iexpertadvisor.com/metatrader-mql-course-module-11-using-trading-channels-in-an-expert-advisor/

Module 12: Using a Trailing Stop in an Expert Advisor
http://www.iexpertadvisor.com/metatrader-mql-course-module-12-using-a-trailing-stop-in-an-expert-advisor/

Module 13: Using a Trendline in an Expert Advisor
https://www.iexpertadvisor.com/metatrader-mql-course-module-13-using-a-trendline-in-an-expert-advisor/

Module 14: Partial Close of an Open Order using OrderClose
https://www.iexpertadvisor.com/metatrader-mql-course-module-14-using-mql-to-partially-close-an-order/