LMAX stop orders

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wilkinsw
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LMAX stop orders

Postby wilkinsw » 08 Aug 2019

Hi,

Interested in trading LMAX FX. How are buy stops triggered? Last trade based? Bid based? Offer based?

Thanks,

Will

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Svetlana MultiCharts
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Re: LMAX stop orders

Postby Svetlana MultiCharts » 08 Aug 2019

Hello, Will,

What exactly do you mean by “triggered”?
Are you interested in using native stop orders or emulated by MC?

wilkinsw
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Re: LMAX stop orders

Postby wilkinsw » 08 Aug 2019

What is the precise algorithm for the trigger component of a native stop held at LMAX?

I found out the answer: LMAX got back to me and said Offer triggers a buy stop. So when offer >= buy stop trigger; aggressor order (market) gets sent.

I'm new to FX. Can someone advise on the following:

-Do any FX datafeeds have a "last traded" field as per futures data? Or is FX 100% quote based?

Thanks,

Will

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Svetlana MultiCharts
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Re: LMAX stop orders

Postby Svetlana MultiCharts » 13 Aug 2019

Will,

As a rule, Forex Trade quotes are emulated by the data provider, or by MultiCharts, or absent at all.
I will give several examples how it is realized for different data sources.

LMAX doesn’t provide Trade quotes, only Ask and Bid.
There is an option called “Build trade ticks from ask ticks and bid ticks” in LMAX data feed configuration window (QuoteManager->Tools->Data Sources->LMAX->Setting). When this option is enabled, quote field "Trade" includes both Bid and Ask prices which makes the Volume Profile feature usable for Forex symbols. Trade field records a new tick even if only the Ask price/volume has changed and does not wait for the Bid to change either price or volume. When the option is disabled - Quote Field "Trade" plots "Bid" data.

IQfeed and eSignal provide Trade quotes that are equal to Asks.

For Oanda the Trades are emulated by MultiCharts – Trade = (Ask+Bid)/2 in real-time, Trade = Midpoint for historical data.

Interactive Brokers provide Trade = Midpoint.

asyx
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Re: LMAX stop orders

Postby asyx » 08 Oct 2019

you could buy Trade-data from LMAX...costs you only some thousand $...once I contacted them, telling them there seems to be a typo as otherwise, the costs would be crazy - did not help.

But nevertheless, the quotes from LMAX are driven by the limit orders in their central orderbook. At OANDA and the rest of the pack you do not find this.


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