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MB Trading Futures - Introduction

  • #721
  • May 25, 2007 4:39am May 25, 2007 4:39am
Hi Justin,

first of all: I am very satisfied with EFX. No better broker so far.

I would like to make a suggestion for the navigator platform:

it will be more comfortable to do limit orders in an automatical way. Let's say we want to trade the news with a limit entry 15 pips above or below the current price, or better: the pre-release price.
As price don't freeze before news we always have to change the distance of the limit. This is a little tricky...
I would appreciate an additional function where one can set a limit order like : 15pip distance. Similar to the TTOs.

Do you think it can be made?

Greetings from Greece
Freewheelin
42
  • #722
  • May 25, 2007 12:24pm May 25, 2007 12:24pm
Quoting Freewheelin
Hi Justin,

first of all: I am very satisfied with EFX. No better broker so far.

I would like to make a suggestion for the navigator platform:

it will be more comfortable to do limit orders in an automatical way. Let's say we want to trade the news with a limit entry 15 pips above or below the current price, or better: the pre-release price.
As price don't freeze before news we always have to change the distance of the limit. This is a little tricky...
I would appreciate an additional function where one can set a limit order like : 15pip distance. Similar to the TTOs.

Do you think it can be made?

Greetings from Greece
Freewheelin
Hi Freewhellin,

Thank you for the suggestion, I will forward this on to our programmers who happen to be hard at work on many other order types and see if they have any comments about this.

Have a great weekend.
  • #723
  • May 25, 2007 3:58pm May 25, 2007 3:58pm
the most cumbersome thing I found on the platform is trying to mange targets and stops

you have to cancel the order and enter a new order (unless I missed something)

every other platform I have used allows me to click and modify the order quickly

yes, I realize this cancels the order and puts the new one in, however, it is one click away when doing a modify vs you having to manually do it all yourself

not to mention the other platforms that have a chart you can actually just drag your stop or target line on the chart and it modifies it for you

just some suggestions...
  • #724
  • May 25, 2007 8:58pm May 25, 2007 8:58pm
Hey Subq,

Justin does a good job of addressing this in his basic webinar--just look it up on their site. It's actually quite easy to do while in an order--I like to get into an order, then set my stops and limits. First, make sure in your positions window that you have the TTO marked under your template--right click, template, TTO. Click on the order you want to modify, set your upper trigger and lower trigger then cover or sell based on which direction you are going. Because EFX does not let you hedge, when you put a short in, you cover at your target, etc. Also notice that you can put in several different TTO's for the same order just by changing the lot size (Order Volume). If you have an order for 100 lots, you can put a TTO for 50 of those lots, then another TTO at greater distance for another 25, then you can also set a trailing stop for the remaining 25 lots. The only thing I lament is the ability to put a trailing stop with a TTO, hopefully that option will be available in the new software they are coming out with. Again, Justin goes through all this in the basic webinar. If you are having a problem setting your page to view TTO, just email Justin and he will send you his trading template...

Hope this helps--pkchilly
  • #725
  • May 25, 2007 9:05pm May 25, 2007 9:05pm
I just opened my live account with EFX. I am using MT4 for charting for now until they get the chart package set up.

I will keep posting here to let others know how my live account is working out.

Happy trading
Tom
Could it be Man is trying to be something without knowing they're complete?
  • #726
  • May 25, 2007 9:22pm May 25, 2007 9:22pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting Freewheelin
Hi Justin,

first of all: I am very satisfied with EFX. No better broker so far.

I would like to make a suggestion for the navigator platform:

it will be more comfortable to do limit orders in an automatical way. Let's say we want to trade the news with a limit entry 15 pips above or below the current price, or better: the pre-release price.
As price don't freeze before news we always have to change the distance of the limit. This is a little tricky...
I would appreciate an additional function where one can set a limit order like : 15pip distance. Similar to the TTOs.

Do you think it can be made?

Greetings from Greece
Freewheelin
If you're straddling news, perhaps you'd be interested in the spiffy new EFX Straddle Master. I coded it to place a straddle based on current pricing. It checks to insure that pricing isn't delayed or "blacked out" (like can happen during some NFP releases) and that the spread is within user defined limits prior to submitting the orders. It typically takes about a tenth of a second to check pricing, check market conditions and submit the orders.

What you can't see (because I took this screenshot after market hours) is that you have access to the position, order entry and order book controls so once a position is open, you can monitor or kill them manually or via the added "Kill Orders" and "Kill Positions" buttons.

Note: Screenshot taken when market closed
http://img84.imageshack.us/img84/508...emasterai8.jpg

If you want to be the first on your block to have superb control over your EFX news straddling, send me a PM, maybe we can work something out.
  • #727
  • May 27, 2007 10:10pm May 27, 2007 10:10pm
Hey, I am having trouble with + orders

Either limit + Stop or market +tto

When I enter the order, the order shows up in open positions, then disapears as it is filled and placed in my positions. But the stops and TP's are not showing up. THe price has moved to where action should be taken, but it is not happening. This is on a demo account I just opened up. Is this a common problem with the demo, because these + orders are very important to me in using a live account.
  • #728
  • May 27, 2007 11:59pm May 27, 2007 11:59pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting roycetrade
Hey, I am having trouble with + orders

Either limit + Stop or market +tto

When I enter the order, the order shows up in open positions, then disapears as it is filled and placed in my positions. But the stops and TP's are not showing up. THe price has moved to where action should be taken, but it is not happening. This is on a demo account I just opened up. Is this a common problem with the demo, because these + orders are very important to me in using a live account.
It's rare, but I do occasionally see this type of issue on the demo server. As of right now, I'm unable to cancel orders or close positions on demo. My understanding is that the demo server also acts as the development server, so you can occasionally see these types of anomalies.

I've never experienced any such issues on the live server.
  • #729
  • May 28, 2007 1:38am May 28, 2007 1:38am
tesla, thanks for the reply. The server went down for 15 minutes, then when it came up all was working properly. That is good to know
  • #730
  • Edited 1:54am May 29, 2007 12:44am | Edited 1:54am
I am considering opening an account, but I really need to know more about EFX and ECN pricing in general. Can any current users offer some advice? How often are wider spreads encountered? Do they extend past 15 pips or more? I heard about a story of it widening 250 points during a news release because as the spread increased no one wanted to buy or sell. I see that theoretical situation, but is that really likely? Thanks for your input in advance.

Is there anyplace I can get spread statistics on the ECN? I would really like to compare it to the charts Oanda Provides here: http://fxtrade.oanda.com/spreads/recent_spreads.shtml
  • #731
  • May 29, 2007 3:09am May 29, 2007 3:09am
There are few things I experienced:

1. Never saw such a big spread, but I know this story. This spread can be found in currency futures. Don't think it is possible on spot.

2. Spreads on Oanda are getting nuts during news time, and they stay nuts for a long time.

3. On ECN like EFX or MBT the spreads are widening, too. But not as high as at Oanda. And they are normalizing (=1-2pips on Cable, 1pip on EUR/USD) pretty fast.

4. In my opinion EFX has better fills, though I use always limit orders during news times. Most of the times got filled.

Greetings,
Freewheelin
42
  • #732
  • May 29, 2007 10:33am May 29, 2007 10:33am
Quoting roycetrade
Hey, I am having trouble with + orders

Either limit + Stop or market +tto

When I enter the order, the order shows up in open positions, then disapears as it is filled and placed in my positions. But the stops and TP's are not showing up. THe price has moved to where action should be taken, but it is not happening. This is on a demo account I just opened up. Is this a common problem with the demo, because these + orders are very important to me in using a live account.
Hi Roycetrade -

If you'll please email me at [email protected], I'll reset your demo for you as this seems to be the problem.

EDIT: Please include your username and password and identify yourself as roycetrade.

Thank you,
  • #733
  • May 29, 2007 10:52pm May 29, 2007 10:52pm
Justin, thank you for your posts.

I love the ECN concept, but dont understand why charting is such an issue, as most brokers offer this for free. Even MT4 would be good.

To be honest, paying for something you get free everywhere else is probably the biggest issue I would have with opening an account.

I will be watching to see if/when you add the charts, and I would be willing to open a small account to try you guys out!

Thanks....
  • #734
  • May 30, 2007 4:36am May 30, 2007 4:36am
Quoting clockwork71
Justin, thank you for your posts.

I love the ECN concept, but dont understand why charting is such an issue, as most brokers offer this for free. Even MT4 would be good.

To be honest, paying for something you get free everywhere else is probably the biggest issue I would have with opening an account.

I will be watching to see if/when you add the charts, and I would be willing to open a small account to try you guys out!

Thanks....
Hi clockwork,

if you're only interested in charts to see the price action, not for big analysis issues there is http://www.netdania.com/ChartApplet.asp
Those charts and price are close to the real price action on EFX or MB. That's the main thing andI use them daily and for my style of trading it's enough.

Greetings
Freewheelin
42
  • #735
  • May 30, 2007 10:48am May 30, 2007 10:48am
Quoting clockwork71
Justin, thank you for your posts.

I love the ECN concept, but dont understand why charting is such an issue, as most brokers offer this for free. Even MT4 would be good.

To be honest, paying for something you get free everywhere else is probably the biggest issue I would have with opening an account.

I will be watching to see if/when you add the charts, and I would be willing to open a small account to try you guys out!

Thanks....

 Charting Options:

1. Free java link with our datafeed: http://efx.tradesecuring.com/misc/freeefx.asp

2. IntelliCharts -

a. Online application – EFX Clients $20.00 (non EFX $40.00) a month

b. Desktop Version – EFX Clients $50.00 (non EFX $100.00) a month

Click here for more info: http://efx.tradesecuring.com/Misc/EFX.asp

3. eSignal - special discounts and offers available.

Hope this helps for now.
  • #736
  • Edited 11:31pm Jun 3, 2007 11:14pm | Edited 11:31pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
I had promised to post a screenshot of the EFX Straddle Master while the market was open... so here it is.

And... to understand why this is posted to the EFX thread, read posts 721 and 726.

This screenshot was taken immediately after a straddle was placed two pips from market (in demo, for display purposes only). I've used it on my live account and it's functioning as intended.

There wasn't any news to straddle, this was just for screenshot purposes.
http://img528.imageshack.us/img528/6606/ssoj2.jpg
  • #737
  • Jun 4, 2007 8:52am Jun 4, 2007 8:52am
Testa,

If I am understanding your posts correctly, are you offering something that EFX group does not and have said repeatedly that it can not be done with their platform? Please clarify for me. Also, are you offering this at no charge?

Thank You
Unus pro omnibus, omnes pro uno
  • #738
  • Jun 4, 2007 11:13am Jun 4, 2007 11:13am
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting moneda
Testa,

If I am understanding your posts correctly, are you offering something that EFX group does not and have said repeatedly that it can not be done with their platform? Please clarify for me. Also, are you offering this at no charge?

Thank You
This tool was designed for a single purpose — to check market conditions and to place a precise straddle based on current pricing faster than a human could do it. Noone at EFX said this couldn't be done, but it's a pretty narrowly focused tool to build into a general-purpose trading platform.

I'm not giving it away, and actually hadn't thought there would be much interest until I saw Freewheelin's post. At that point I decided to show a screenshot of my work and share some details. There's been a surprising amount of interest, I'm discussing the utility with interested parties via PM.
  • #739
  • Jun 4, 2007 1:30pm Jun 4, 2007 1:30pm
Please post some screenshots when some actual volitile news is released.

Looks interesting and I'd be curious to see how well it functions with live orders during a volitile news event.
  • #740
  • Jun 4, 2007 2:28pm Jun 4, 2007 2:28pm
Can anybody point me at documentation on the EFX API, I have browsed though their site but can't find anything.
The breaking of a wave cannot explain the whole sea.
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