DayTrading - Forex

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fx1

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Is there any Daytraders ( Forex) that's using MyWireless ? I've seen the complaints of the Gamers about the ping times , is there any such problems when you use it for daytrading ?

any Pros [:)] / Cons [:(] ?

Thanks
 
Hi flashvc,

I would also be curious whether this is possible - the software I use (GFT) connects to this URL:

http://gf1.gftltd.com:8080/naming.ior

If you could please let me know what the reponse is like I'll confirm with them what the requirements are to prevent timeouts

Thanks alot
Cliff

PS - What really sucks for me is that Sentech seem to want to lock you in for 2 years and one is not able to first test your software to make sure if functions correctly with the service...
 
typical it's Trading / Charting programs from sites like

http://www.fxcm.com , http://www.cms-forex.com


here's a link to a java applet that open a forex graph http://64.94.171.6/Charts/fxcm.html

please ping this ip 64.94.171.6


Thanks
 
I did a quick 3 packet ping to those sites.
Here are the results:

--- gf1.gftltd.com ping statistics ---
3 packets transmitted, 3 packets received, 0% packet loss
round-trip min/avg/max = 407.0/469.8/511.5 ms

--- 64.94.171.6 ping statistics ---
3 packets transmitted, 3 packets received, 0% packet loss
round-trip min/avg/max = 429.1/516.9/645.7 ms

--- www.fxcm.com ping statistics ---
3 packets transmitted, 3 packets received, 0% packet loss
round-trip min/avg/max = 368.1/406.4/476.0 ms

--- cms-forex.com ping statistics ---
3 packets transmitted, 3 packets received, 0% packet loss
round-trip min/avg/max = 516.8/536.5/557.5 ms


Hope that helps.

--
 
Thanks Flashvc

That's good enough for me [:D], as long as it is below 1000 ms with no or minimal time outs.

the VT program from www.cms-froex.com is normally the first to stop working with a bad line
 
I trade very night, not forex, but the Dow and Gold, using gt247 and quote.com. Both work well. I got mywireless to use for trading, and it is portable, so one day, when they have installed the system along the coast I can sit with my laptop and listen to the sea, while losing my boots[:D]. You can trade forex futures through GT247 and quote.com also.
 
Unless you're a dealmaker in a financial institution, you won't be dissatsified with the response times, and MyWireless will be just as good for your transactions as ISDN or 56k modems would be.

If you ARE a dealmaker in a financial institution, then you should be slapped on the wrists for even thinking about trading over the internet. [:)]

Unless you require 0.25 second responses for daytrading, I think you'll be fine [:)]

<center><h5><font color="red">Oo. MyWireless <s>Hacks</s> Tweaks & Tech Info.oO </font id="red"></h5><h6>Have you checked the fawking FAQ?</h6></center>
 
Thanks Flashvc most appreciated! Doesn't seem bad at all.

Hi Robone - doesn't the spread on GT247 change quite dramatically during periods of volatility?? I've been thinking of using them although this worries me.
 
I've pinged the same sites flash did on ADSL, just for comparison.

-- Ping statistics for gf1.gftltd.com --
Packets: Sent = 3, Received = 3, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 475ms, Maximum = 492ms, Average = 482ms

-- Ping statistics for 64.94.171.6 --
Packets: Sent = 3, Received = 3, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 448ms, Maximum = 503ms, Average = 481ms

-- Ping statistics for www.fxcm.com --
Packets: Sent = 3, Received = 3, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 416ms, Maximum = 503ms, Average = 450ms

-- Ping statistics for cms-forex.com --
Packets: Sent = 3, Received = 3, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
Minimum = 470ms, Maximum = 492ms, Average = 479ms

Pings seem a bit better, just wonder how long it would last with 3GB cap.

How much bandwidth do the Forex packages use per day ?

I am very much interested in Forex trading, I think it would be a good idea to set up a chatroom &/ forum to share some experience. Who would participate ?
 
The spread is linked to the bid and offer by 3 points either way on the daily chart ( daily means you must get out of the trade that day).
Take for instance the Dow future, the difference between the Bid and offer is generally 2 points. So if the bid is at 10450 and the offer at 10451, then the bid and offer quoted by GT247 will be 10447 and 10454. I believe that this is quite good, seen that you are not paying any fees.
You should join on a trial basis and they give you about R100000 (funny money) to play around with.
But you must get a live feed, and quote.com presently gives you the dow spot live at no charge, although you have to refresh every couple of minutes. The cost for a live feed which includes the dow futures from CBOT is 10 dollars pm.
 
I would not recommend this platform for such a business or revenue critical application unless you are convinced that you are able to continue doing business based on the absolute worst case scenario with regard to quality of service. The risk you run here is that things may run fine for a while but as Murphy would have it the day that million dollar deal is on the line the network is running at maximum contention.

In my humble opinion, depending on the number of traders you have trading at any one time; your requirement is for a smaller, dedicated and un-contended capacity solution.
 
I don't have any bandwidth usage figures , does any know of a program to monitor the bandwidth usage for a specific program or port ?


On a network Sniffer you can see a constant flow of small packets to keep the real-time graph's updated




There is a Trading Forum at http:\\www.moneytec.com
 
I disagree, mywireless works well. You must remember most traders use the 5 minute graph as a minimum, and I generally trade on a 15min graph, so the timing is not that critical, especially if it is delayed by a few milliseconds.

I have been using mywirelss for two months now and from an information feed aspect it is brilliant.

I used to get my data through internet, and then I had to phone up the broker in the usa and make the trade. Turnaround time was a few minutes, so this service is excellent.

What kills me is when I suddenly lose a signal, but I know what that problem is....I need an external antenna because of the trees around my house attenuating the signal.
 
If you are using Windows you can download programs such as DUMeter or Bandwidth Monitor Pro to monitor your connection.

Should be available from www.tucows.co.za or just do a search on google. Both are very similar and work well in graphing upload & download usage in real time, while logging usage daily, weekly, monthly, yearly and total. You can also set it to monitor specific network connections.
 
Thanks for the reply Robone (on GT247) although you never mentioned if the spread changes during volatility. I did trade with them for a while and if there are sharp movements the spread widens!! So from 5 points to 10 sometimes - if I recall correctly. This was about 1 year back.

Hi TheRodent - I trade FX crosses - predominantly USDCHF, EURUSD and GBPUSD. I'm interested in other instruments although since it is part time currently that is all I have time for.

dw - The way I see using MyWireless is to get price data continuosly and trade longer term - if I make short term scalps where time is of the essence I'll dial into MWEB and use this - for the longer term swing trades - MyWireless should suffice.

quik - thanks for the test on ADSL. There is quite a few forums on the internet already that discuss FX trading - most notably www.moneytec.com and ww.elitetrade.com. Join these and you'll find a wealth of knowledge...
 
Hi CSaunders

Thanks for the info...

Just one thing, the link www.elitetrade.com redirects to http://www.sinksrus.com/, and nothing seems to be going on there.

<font color="green">Video didn't kill the radio star...</font id="green"> <font color="red">Telkom did</font id="red">
 
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