Recently there has been discussion of using metatrader 4 as a interface for traders. The features metatrader 4 has are what traders need. Without these features we will find it hard pressed to attract traders.
Requirements:
-multitude of indicators (MACD, Moving averages, ichimoku, Stochastics, CCI... etc)
-customized indicator scripts
-Dynamic Scaling of the price chart
-Ability to pan and zoom on the chart
-live feed of Profit and Loss for each open position
-Ability to write expert advisors for robotic trading
-2 Click trading from the chart window
-
STOP AND TAKE PROFIT ORDERS-Ability to change chart type (bar colors, lines, OHLC charts, background)
-backtesting
-More...
Since our dex fails at meeting any of these above criteria, I believe we need to turn to a third party solution. The Dex will still be the backbone and provide the feeds and liquidity, but the third party will have a much cleaner and user friendly look.
For this I suggest we use Metatrader 4. This is the defacto acceptable program used for forex & cfd trading. I have contacted metatrader in regards to setting up and licensing the terminal for bitshares. I know a license can cost upwards of $100k, but there are companies offering to sell their licenses so there may be a cheaper option.
What I envision:
-website that hosts the metatrader introduction and download page. Also has a link (with referral code) to create a bts wallet.
-newly created wallet links to downloaded metatrader platform
-password and credentials created for accessing account in metatrader
-user sends funds(crypto) to bts wallet and metatrader reflects those funds
-user trades markets in metatrader through bitshares API. Metatrader gets price data from bitshares API.
-users can cash out or access their funds by going to the original website and logging into the wallet through there.
There are 3rd party open source solutions available that may be able to be used as.
https://bitcointalk.org/index.php?topic=279773.0I would suggest that we use metatrader 4 because the majority of forex traders are familiar with it. I have traded for 9 years on many platforms and in many different markets. Metatrader has been my favorite platform and has been the most reliable and robust.
I would like to get the communities input on using a 3rd party for trading and how we would fund a license purchase of MT4.
option 1 - individual buys the entire license and sets it up so he is the referrer during wallet creation. Enjoys all the referral fees.
option 2 - issue a UIA for people who would like to support the purchase of the license. All referalls fee's go into a pool to buy back the UIA's.
option 3 - worker proposal. But since this isn't a change to the code, I don't believe this is appropriate.
option 4- ??
Topic: 3rd Party Trading Interfaces Using the bitshares DEX (Read 7491 times)
