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MB Trading Futures - Introduction

  • #1,601
  • Jan 28, 2008 12:54am Jan 28, 2008 12:54am
Jjustin you wrote that today all real client can access at new platform........completely false........how long for this joke ????
  • #1,602
  • Jan 28, 2008 1:48am Jan 28, 2008 1:48am
Hi Justin, or anybody,

can you please tell me where I can find guidebook or manual to write trading robot for EFX platform?

to Pip Hunter, I already join the mbtsdk forum in Yahoo! Result: I got even more confuse since I cannot find post for beginners.

Please, anyone.

Thank you.
  • #1,603
  • Jan 28, 2008 2:02am Jan 28, 2008 2:02am
Quoting jleblang
Doug ~

Thanks for the comments. It isn’t that people didn’t contact us…we received over 400 e-mails alone, and that doesn’t even count phone calls and live chat session, during the event last week. We replied to all of those e-mails with an explanation of what occurred in the morning, and the overwhelming majority of people that replied to our e-mail said that they understood and appreciated the explanation. Only a handful pursued the conversation or were tech-savvy enough to want to discuss it in more depth. My point was that I didn’t understand why someone who did have that knowledge wouldn’t call in to ask the questions first instead of asking them on this board. You would get a more direct answer immediately. The reality is that if our response had been about tech-speak and generators and DC power and UPS systems, I can guarantee you that a lot of people would have felt like we were talking down to them or over their heads intentionally, and I don’t like to do that. I appreciate your comments, but my only point is that public boards tend to overwhelming give a more negative view of things on any topics than the reality of the situation because the people that are unhappy talk the most. But if I’m unhappy with someone that provides me a service, I’m getting on the phone with them to get answers. That’s just me.

In regard to your second point…let me first reiterate what I have said. The event last week is being reviewed, and we are analyzing every aspect of what went wrong. Based on our past examples, anyone that knows us should know that we take this business very seriously and have no interest in just letting things remain the same if we feel that they could have worked out better. It is our job, since we are the ones with full information, to assess and make a determination of what occurred and any changes that could be made. Off the top of my head, looking at your idea, it sounds logical. Now, let me ask you a question. We send out this message at some interval. You mentioned that on a 10 minute UPS backup, if the generators are down after 1 minute, we send out a message. So a bunch of people close their positions. And then we get the generators working over the next nine minutes. What do we say to people that didn’t want those positions closed and only closed them because of a message that we sent? So I can assume that the next logical step would be, “OK, so send out the message with two minutes of UPS left.” And it still leaves open the possibility that we fix the systems, or we’re open to the possibility that two minutes isn’t enough for customers to see the message and react. So let’s say that ten times in a year, we are forced to go to UPS due to a power problem in LA. Let’s say that one time, it resulted in this. Do we make an adjustment that could hurt our customers at the time over 1 out of 10? Or do we assess whether this should have ever happened, knowing that we have a full system in place, and make sure that the 1 out of 10 doesn’t even occur by making changes.

The only issue that I have with “I do still feel that MB was not as prepared as they should have been” is that you’re making that comment without really knowing whether we were actually fully prepared, and this issue just happened beyond that. I don’t think it is correct to say “Well obviously you weren’t fully prepared because look what happened.” Maybe we were and maybe we weren’t, but the one time something does go badly, you definitely have to analyze it. We could be fully prepared and have a system that has worked great under these circumstances in the past, and then something new occurred here. As you said in the post “nothing can be 100% fool proof.” There is sort of this underlying tone on some of these posts that we weren’t prepared. I don’t think I can agree with that. I think something went wrong here this one time, and knowing what we know, I think we can work to make sure it doesn’t happen again. But any other time that something like this has occurred, our system has worked fine, but of course, no one would know that because it worked. So we aren’t going to implement a bunch of policies that could adversely affect our customers 9 times out of 10 unless we know that it is the best route. All things are being discussed and considered at this time.
"We replied to all of those e-mails with an explanation of what occurred in the morning",this statement of yours is not true as i did not receive mine and i am having a live acct.I do agree that such a event(outage) does not happen frequently but it will just take one event to destroy all the confidence MBT has gathered all these yrs,isnt it justin?
  • #1,604
  • Jan 28, 2008 2:13am Jan 28, 2008 2:13am
Quoting fxking
"We replied to all of those e-mails with an explanation of what occurred in the morning",this statement of yours is not true as i did not receive mine and i am having a live acct.I do agree that such a event(outage) does not happen frequently but it will just take one event to destroy all the confidence MBT has gathered all these yrs,isnt it justin?
"We replied to all of those e-mails" - meaning all of the emails sent to us requesting an explanation of what happen. Did you send us an email inquiring to what had happen when we went down?
  • #1,605
  • Jan 28, 2008 2:17am Jan 28, 2008 2:17am
Quoting jleblang
"We replied to all of those e-mails" - meaning all of the emails sent to us requesting an explanation of what happen. Did you send us an email inquiring to what had happen when we went down?
yes i did,and by the way shouldnt u guys be sending out emails to explain to clients automatically instead of clients requesting for one??
  • #1,606
  • Jan 28, 2008 3:04am Jan 28, 2008 3:04am
justin ,thanks because you always don't answer to my questions.......you are very professional........
  • #1,607
  • Jan 28, 2008 7:06am Jan 28, 2008 7:06am
Hi Justin !

Could you give us a hint when the new remote trader platform will
be going live ?

I've opened an account with EFX and before funding I want to test
if I have access to it from my office computer at work.

Thanks in advance

Bernhard
  • #1,608
  • Edited Jan 29, 2008 7:46am Jan 28, 2008 8:02am | Edited Jan 29, 2008 7:46am
Quoting Pip Hunter E
Hi Justin, or anyone who knows...

Could you please explain the Price vs. Speed slider in Navigator preferences?

In my mind, the fastest execution from when I choose to send an order based on your quoted prices... ought to also result in the best price. Having to choose between one or the other doesn't make sense to me in an ECN environment.

Please advise on what literal technical effect (in all detail) this slider has on any market order I decide to place at any given time. This could greatly affect any number of my trading strategies depending on what this slider is actually doing to my orders.

Thank you.

I have found that hope it answer your question


The Price vs. Speed increments of zero to ten equate to percentages of the entry price vs best price. A value of three (3), for instance, means no price OUTSIDE 30% of the DIFFERENCE between your entry price and best price will hit you. Upon each partial execution (assuming the order fills in partials), a re-evaluation is done for the rest of the order.


http://sdk.mbtrading.com/SDKKB.php
  • #1,609
  • Jan 28, 2008 10:24am Jan 28, 2008 10:24am
Quoting fxking
yes i did,and by the way shouldnt u guys be sending out emails to explain to clients automatically instead of clients requesting for one??
I apologize you did not receive an email back...do you know who you sent it to or which email address?
  • #1,610
  • Jan 28, 2008 10:28am Jan 28, 2008 10:28am
Quoting mrgreen
Hi Justin: I am wondering if you could put together a FAQ and post it here w/ a link to it in your sig. This thread is now at 100+ pages and growing. Many may not wish to read through it all just to get some basic facts about EFX Group
Thanks.
mrgreen ~

I've been wondering recently about this....I'm sure there are a lot of traders who have just some basic questions to ask and this thread can certainly take a long time to read. Of course you can always post any question on here and either I'll respond or another forum member will with the answer.

The best thing to do probably is just email me directly at [email protected] or call our offices at 877.212.1112.
  • #1,611
  • Jan 28, 2008 10:29am Jan 28, 2008 10:29am
Quoting gioviforex
Jjustin you wrote that today all real client can access at new platform........completely false........how long for this joke ????
gioviforex ~

You can have access right now, as can any EFX customer. Simply email me at [email protected].

Regards,
  • #1,612
  • Jan 28, 2008 10:30am Jan 28, 2008 10:30am
Quoting behof
Hi Justin !

Could you give us a hint when the new remote trader platform will
be going live ?

I've opened an account with EFX and before funding I want to test
if I have access to it from my office computer at work.

Thanks in advance

Bernhard
Bernhard ~

You can use it live right now....just email me at [email protected].

Please send your username and contact number.

Thank you,
  • #1,613
  • Jan 29, 2008 12:58am Jan 29, 2008 12:58am
Quoting phil90
I have found that hope it answer your question


The Price vs. Speed increments of zero to ten equate to percentages of the entry price vs best price. A value of three (3), for instance, means no price OUTSIDE 30% of the DIFFERENCE between your entry price and best price will hit you. Upon each partial execution (assuming the order fills in partials), a re-evaluation is done for the rest of the order.
That is incredibly good to know Phil. Thanks much man. I figured it had to do something!
  • #1,614
  • Edited 7:57am Jan 29, 2008 7:45am | Edited 7:57am
Quoting Pip Hunter E
That is incredibly good to know Phil. Thanks much man. I figured it had to do something!

I would also like to mention something. You said in earlier post that this function would not have it's place in an ECN. I know Dukascopy has a similar option for slippage control. You can decide how far from the desire price you can get filled.

It's pretty much the same. With Mbtrading price vs speed let you decide how far from the desired price you can get filled. You decide if you prefer speed over price
  • #1,615
  • Jan 29, 2008 7:58am Jan 29, 2008 7:58am
Yeah but MB is still going to fill you at SOME price. Are you saying Dukas would not?
  • #1,616
  • Jan 29, 2008 8:13am Jan 29, 2008 8:13am
hi justin i asked a page or 2 ago but ill ask again can you advise any real timescale of when GBP accounts will be available? I'm ready to fund a new account and right now it's between you guys and traderview ( they offer gbp )
  • #1,617
  • Jan 29, 2008 8:28am Jan 29, 2008 8:28am
Quoting Pip Hunter E
Yeah but MB is still going to fill you at SOME price. Are you saying Dukas would not?

I am not sure about the dukas system. It takes 50 000 to open an account I am far from being ready for this level. I will probably give a try on the demo someday.
  • #1,618
  • Jan 29, 2008 8:42am Jan 29, 2008 8:42am
Understood, thanks bud.
  • #1,619
  • Jan 29, 2008 11:38am Jan 29, 2008 11:38am
Quoting cryten
hi justin i asked a page or 2 ago but ill ask again can you advise any real timescale of when GBP accounts will be available? I'm ready to fund a new account and right now it's between you guys and traderview ( they offer gbp )
Hi cryten-

I was given this post from our VP in regard to the issue of foreign currency deposits.

“The process of accepting foreign deposits took a turn that was unexpected in December. We made all of the arrangements easily with our primary bank to accept foreign deposits, which required that an additional deposit be held with them. To expedite the process, we were allowing wired funds only, no foreign checks, as part of the risk of foreign deposits is that other countries allow funds to clear for trading the minute that the check arrives, and that can obviously put us at risk if the funds don’t ultimately clear. So we were ready to go.

From a programming perspective, it is actually quite simple to allow Navigator to become based in another currency. That part is quite easy, and the trading would function properly.

We ran into a different issue. At the end of the day, you have PnL and commissions that have to be paid to us. Let’s say that your account is GBP-based. While the system can obviously convert the commission rate at the time of the transaction to equate to your standard account commissions (let’s call it $5 per $100,000 US, which is the basic commission for retail customers), we don’t actually receive that in USD until we convert. It is not feasible to convert on a constant basis throughout the day, and yet, the exchange rate will fluctuate by the point of settlement. That means that between the time that the trade is run and the time that we would choose to convert the currency back and forth, it might not be $5 per $100,000 (could be higher, could be lower, but it becomes a variable). At the same time, PnL has to end up in customer accounts based on transactions that occurred at the bank level through us in USD. Again, based on the change in the exchange rate, this puts MB at substantial potential risk and leaves a lot of uncertainty. Obviously, when anything becomes variable in business, even if it could fall into your favor potentially on any given day, it has to be analyzed differently.

Since coming to this realization, we are having various discussions with parties to see what we can do, and we will make an ultimate decision once we have explored all options thoroughly and believe that we have the best solution, most importantly for our global customer base. Obviously, we will then let the public know. I will not give an ETA on this process. We pride ourselves on doing what we say that we can do, and this one definitely caught us off-guard just as we thought we were ready to go. For that, we definitely apologize.

Chris”

That’s all I can give you guys on this one for now.
  • #1,620
  • Jan 29, 2008 11:44am Jan 29, 2008 11:44am
Hi Justin,

Do you have a link of a previous webinar about Remote Trader? I did not catch it the first time.

Thanks
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