master trader v 3.0

[c.trader]

I have been with Master Trust since the days they started their ATS efforts. That would be nearly two years. A long wait, but I accept it was unavoidable on their part.

Initially they offered me one plugin (?) called OrderPlacer which would take orders from my afl for execution. It was free which was nice of them. It was not bad as a first effort but had a few downsides and it was probably at this point of time that they started doing something about a more robust version called a COM API (?).

Well, when it was finally out I immediately subscribed to it as one of the first few takers. It was about 3-4 months back, and I don't regret it.

It has undergone some modifications in these months and now looks stable and is working fine. If this week passes off without a bad incident I can say it has passed the test.

They are providing data for free (saves on the Rs. 2k odd per month gdfl data which I have been paying all the while). The second/tick level data are not that consistent, but it isn't a big issue either.

I wonder if Master Trust really aims to becoming the country leader in ATS. Their product is the cheapest in India, I guess; quality wise they should be nearly at par with the best ones in India. So what's stopping them to get more aggressive?

To become the leaders, they need to keep a 24x7 team working for upgrades/repairs/modifications. They should come up with a feedback window within MT3.0 page itself and address reports promptly. Six months in this mode will put them at the top.

That includes hosting at their server, the next obvious step. I suspect it is at the infancy. Here also, they must aim for an UNATTENDED hosting with auto recovery/shutdown from power, internet, data, software and hardware crashes keeping the trader in the loop. This way the trader don't have to kill his eyes and bones staring at the screen 14 hours a day. After all, we trade for becoming free, don't we?

sir
thanks for our valuable reply
u used my 3.0 nowadays
what is our opinion about master trader 3.0
thanks

 

[sandip1952]

PS:

I forgot to add a few more points, good or bad.

a) the Master Trader documentation should improve. Many things are still not explained;

b) one can trade from MT3 without opening Nest Trader at all. This excellent feature in MT3 is OCO (One Cancels the Other). You are allowed to put in your (optional) stop loss and profit targets and if your stop loss hits, the pending (profit) bid is removed automatically and vice versa. Note that you had to delete it manually in Nest. If you forgot, as you sure would some time, it would trade again on the way back.
Placing trade in MT3 is just a double click on the button and it immediately trades (market?);

c) the windows and their logic are a bit cumbersome and this I hope would improve gradually making it more intuitive.

d) Hello c. trader, whatever I wrote above was on Master Trader 3 only. Hope it clarifies some points!

 

[onlinetrader]

Mastertrader 3 is not accepting stoploss orders from Amibroker. It simply skips the stops.

Any solution on it? (i am new to automated trading)

 

[sandip1952]

@onlinetrader

Yes, MT 3 accepts stop loss/profit bids from Amibroker on first arrival basis. If the bid in MT3 hits first, it gets traded and if the SL/Bid from chart arrives first, it gets traded likewise.

It takes some time to adjust to the settings. There is no column for lot numbers. Instead, you multiply lot size with the number of lots you want to trade and put it in OrderQ /Max Q columns. For example, in crude, you write 200 if you want to take 2 lots, the lot size being 100.

I also learnt about another peculiarity today, though I am not convinced as I have seen exceptions to this rule. It states: the chart you are trading must be visible in order to work. You may however tile it with other charts and that will still do.

 

[c.trader]

it is fully automated?

 

[sandip1952]

It is not fully automated in the real sense, but then no AT system in India is. As far as I know, no one is aiming to extend protection to traders for outages in power, internet, data, software, hardware, etc. fully automated, without the trader ever needing to open his machine.

But yes, if you can take care of those hiccups, particularly internet, then I would say you can call it an automated system of sorts. I would say it is enough for us at the present.

This week MT 3 threw up no problems. The few interruptions that were caused were due to my faulty settings in MT 3 and for using an incomplete afl.

The future with MT 3 is just starting to look good. I hope my feeling is not belied.

 

[c.trader]

It is not fully automated in the real sense, but then no AT system in India is. As far as I know, no one is aiming to extend protection to traders for outages in power, internet, data, software, hardware, etc. fully automated, without the trader ever needing to open his machine.

But yes, if you can take care of those hiccups, particularly internet, then I would say you can call it an automated system of sorts. I would say it is enough for us at the present.

This week MT 3 threw up no problems. The few interruptions that were caused were due to my faulty settings in MT 3 and for using an incomplete afl.

The future with MT 3 is just starting to look good. I hope my feeling is not belied.

sir
can mt3 place order from ambi to nest directly
or u have to accept order before placing to nest
please clarify
thanks

 

[vsreeram77]

i am using without any issuse if anybody want support i help

 

[c.trader]

i am using without any issuse if anybody want support i help

sir can u help me
can mt3 place order from ambi to nest directly
or u have to accept order before placing to nest
please clarify
thanks

 

[sandip1952]

No, there is no need of any button pressing in auto mode. You can go for a short walk if you are on UPS and good internet connection.

Those who want to use MT3 like Nest Trader can place MANUAL trades by just the click of a button. No need to write prices in the dialogue box. It just accepts your order and exits when your chosen loss or profit hits.