3rd Party Trading Interfaces Using the bitshares DEX

[bytemaster]

I think the advanced trading interface (screen shots provided) is terrible for 99% of crypto users / traders.   But it may well be the best for technical traders / day traders.

I think that if our interface looked like what I saw above we would be getting all kinds of complaints from far more users.   The interface is just too busy. 

I am not saying that we shouldn't have such a product.

I think we should look at etrade, etc as examples.   The market for the interface shown above is willing to PAY big dollars to have something that has every bell and whistle.

I can see tremendous value in making the exchange data available in a format that is easily integrated with external interfaces.

[Helikopterben]

Yes this is what we need.  Great trading interfaces that use Bitshares as back end.

 

The openledger interface is on par with crypto exchange interfaces such as polo, so I dont see any reason we shouldn't see more adoption over time.  In fact, the more I explore this system, the more convinced I am that it will be a game changer.  Its very similar to legacy futures markets, only far more advanced... and solvent.

[liondani]

what think @bytemaster  about this?

[liondani]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

It doesn't matter! It is enough that they know "It supports metatrader"
It gives confidence to know that a particular exchange supports metatrader!
Just ask trader's....


  for metatrader support.  I really think if we do it, we will  get much attention from trader's but from the media also!

[GaltReport]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

  - Sufficient GUI plus business development/partners/liquidity is what I think.

[liondani]

why not just offer a "simple" interface and a trading interface?

I believe our current GUI would work as a simple interface...  But we are far far away from a usable traders interface.  Having something similar to Metatrader directly in the native wallet would be the most desirable solution, but I don't think it is realistic.  Metatrader took years to develop.  I believe using a 3rd party "interface in a box" that plugs into our API for data, would be the most efficient solution.  I also think it would expedite achieving acceptable liquidity for trading on our DEX.

 

[jsidhu]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

Thats still using a central broker.. Not sure if they add commission.. But yes it is being used and it is very usable for average people. I personally dont trust it because who knows what they do on the server side to screw with the feeds.. With an open source dex you wouldnt be able to do that.
If it were a dex it would attract serious money because now you have safety and usability.

Btw take profit and Stop loss orders are emulated in metatrader mostly as they are done client side.. With take profit if the market doesnt really go there brokers tend to requote so if we had native support for tp and sl it would be even better (in the dex).

Getting into the business of a cross form factor gui that pleases everyone is a sure fire way to fail at even getting to first base to outsiders. It takes years and years of back propogation and feedback loops to get right.

[Ander]

Yes this is what we need.  Great trading interfaces that use Bitshares as back end.

[Akado]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

Troll box as silly asit  may seem has it's importance, which I think people underestimate. Huge communities can be built on top of it. Look at twitch. Twitch isn't about the stream, it's about the chat. It can be different since both projects are different but look at Polo and BTC-e as examples, they have their own hub of people because they hang out on the trollbox. That can be a 'big' small step towards having regular users.

[lil_jay890]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

What is pictured above is the bare minimum for a sufficient GUI for traders...  And i'm talking real forex traders at banks and hedgefunds. GUI's can get much more advanced.  As you said, we don't even have a trollbox, which shows how long it is going to take to home grow our own traders GUI.  There are other open source options that may be vastly cheaper, but I can't vouch for the security or user experience.  Traders know and trust Metatrader which is why I think it is worth the price of a license. 

[luckybit]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

[BunkerChainLabs-DataSecurityNode]

why not just offer a "simple" interface and a trading interface?

I believe our current GUI would work as a simple interface...  But we are far far away from a usable traders interface.  Having something similar to Metatrader directly in the native wallet would be the most desirable solution, but I don't think it is realistic.  Metatrader took years to develop.  I believe using a 3rd party "interface in a box" that plugs into our API for data, would be the most efficient solution.  I also think it would expedite achieving acceptable liquidity for trading on our DEX.

Yup.. that's part of what we have planned. However, there are some initial steps that need to be done prior to this. We need some proper market data to support it, and also have a proper path to entry. It's a bit premature for us at this early stage, but I could start putting some effort into getting started on this in order to ensure we are taking the right approach to accessing this space. Is anybody interested in helping contribute in the way of providing input into the trader market based on their experience? If so send me a PM.

This is just one solution too... there maybe others that make more sense as a starting point.. those data points need to be considered too.

[lil_jay890]

why not just offer a "simple" interface and a trading interface?

I believe our current GUI would work as a simple interface...  But we are far far away from a usable traders interface.  Having something similar to Metatrader directly in the native wallet would be the most desirable solution, but I don't think it is realistic.  Metatrader took years to develop.  I believe using a 3rd party "interface in a box" that plugs into our API for data, would be the most efficient solution.  I also think it would expedite achieving acceptable liquidity for trading on our DEX.

[fav]

why not just offer a "simple" interface and a trading interface?

[lil_jay890]

Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

The point is to use Metatrader 4 where the price data is pulled from the bitshares API.  It would be great if our internal DEX looked and operated like this, but that is years and thousands of dollars away.  That's why i'm suggesting we use a 3rd party.