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MB Trading Futures - Introduction

  • #1,661
  • Feb 23, 2008 8:18pm Feb 23, 2008 8:18pm
Im not sure if this is already mentioned in this thread but nonetheless, its worth reposting after being buried in tons of posts.

EFXgroup just came out with a WEB BASED platform for MBT/EFX clients. Visit www.efxgroup.com and look at the upper-right corner for the platform.

Here is the link to their webinar also: http://www.efxgroup.com/rtpres1b/index.htm

VERY VERY good stuffs! They would even offer "Automated Trading" (mentioned at the 25th minute of this webinar) SWEET!

I sincerely hoped MBT/EFX had come out with Automated Trading (scripting) on the MBT Navigator a long time ago though.
  • #1,662
  • Feb 24, 2008 8:18am Feb 24, 2008 8:18am
Wow, now this could be useful.
  • #1,663
  • Feb 24, 2008 4:10pm Feb 24, 2008 4:10pm
When can we start using ACH?
  • #1,664
  • Feb 24, 2008 10:12pm Feb 24, 2008 10:12pm
Quoting jleblang
Dahlia ~

Here’s the bullet list of what happened last year:

Around 12 months ago, maybe 14, we stated that we thought the NFA might raise the minimum from $1.5 million to $5 million, etc... etc.. etc....
Thanks Justin for the very thorough answer. A few more if you don't mind...

I'd like to be able to trade from an aircard. Is the speed on an aircard fast enough to accomodate the Remote Trader? Is it fast enough to scalp on a 5 minute chart? A 100 tick chart? (I'd appreciate any comments from any aircard users on this question as well...)

Also, if I'm still demo-ing on the Navigator, what are my options for free charting? If any?

Thanks! The fact that you guys have someone here to answer our questions say something about your customer service commitments.

Dahlia
Money missed is better than money lost
  • #1,665
  • Feb 25, 2008 3:08am Feb 25, 2008 3:08am
I figured out this might be the right place to post this, here's one I came across today on a demo account, there was this CAD/JPY I sold on market, and set the TTO order to it something like 12 hours ago, and this happens after 12 hours.

http://img522.imageshack.us/img522/6325/mbtresetus5.png

I think you know what I meant Mr Leblang, I'm just wondering since there is this system reset period during midnight US time, does it mean you have to reset your order everyday? Thank you in advance.
  • #1,666
  • Feb 25, 2008 4:59am Feb 25, 2008 4:59am
hehe,

well... just noticed that in my demo one short-trade that went wrong on EURJPY was closed with PROFITS!

Meaning:

sold eurjpy.. my stop loss was activated... but before that the platform crashed... and when i got it working again... my "losing" trade was closed 5k USD up... hahaha

i am DEFINITELY opening an account with u guys!

LOL! yOU Guys are my new EDGE! LOL!

iiivb
  • #1,667
  • Feb 25, 2008 1:05pm Feb 25, 2008 1:05pm
Quoting speeddurango
I figured out this might be the right place to post this, here's one I came across today on a demo account, there was this CAD/JPY I sold on market, and set the TTO order to it something like 12 hours ago, and this happens after 12 hours.

http://img522.imageshack.us/img522/6325/mbtresetus5.png

I think you know what I meant Mr Leblang, I'm just wondering since there is this system reset period during midnight US time, does it mean you have to reset your order everyday? Thank you in advance.
Demos are currently down for most users - we should have it working properly soon.

Thank you.
  • #1,668
  • Feb 25, 2008 2:17pm Feb 25, 2008 2:17pm
How to set a limit order (take profit) and a stop loss order of a position,

if one of them get filled, the other one will be cancelled automatically.

Thanks!
  • #1,669
  • Feb 25, 2008 2:19pm Feb 25, 2008 2:19pm
Quoting iamyiyuan
How to set a limit order (take profit) and a stop loss order of a position,

if one of them get filled, the other one will be cancelled automatically.

Thanks!
To add a stop & limit it is best to use the TTO orders. TTO allows you to place a stop loss and target price on your trade, were one will cancel the other. You can either enter a trade using a combo order (market + tto) or you can add a TTO after you have already entered the trade, which I’ll describe below.

To simplify adding TTO orders to existing trades, I personally have a TTO screen up always on the bottom of my 'Positions Window'. To do this, please follow the next steps.

a. In the position windows 'right click' in the blank area (typically this is black where no positions are showing). You'll see an option to "show order entry", left click here.

b. Now an order entry screen should be showing similar to the one attached to the bottom of the FX Board.

c. Right click now in the 'order entry' window attached to the bottom of the 'positions window' and select "Template". Choose TTO.

d. Once you have completed this, go to file and save your layout.

Now that you have added the TTO screen, you’ll notice you have an upper trigger and a lower trigger.

For long Positions:

Upper Trigger = Target Price
Basis Price
Lower Trigger = Stop Price

For Short Positions:

Upper Trigger = Stop Price
Basis Price
Lower Trigger = Target Price

Reference: http://efxgroup.com/efxgrouporderentry.pdf

Once you have set your triggers, press Cover or Sell depending on if you’re long or short. The TTO will become a pending order and remain in your Open Orders window until either price his hit, or you choose to cancel the pending order.

I hope this makes sense.

If you have any other questions, please feel free to ask. Don't forget, you can call in anytime to ask questions as well.

(877) 212-1112 for help.

Regards,
  • #1,670
  • Feb 25, 2008 2:38pm Feb 25, 2008 2:38pm
Now, how to set the upper and lower price 30 pips from the current

Bid/Ask automatically?
  • #1,671
  • Feb 25, 2008 2:49pm Feb 25, 2008 2:49pm
Quoting iamyiyuan
Now, how to set the upper and lower price 30 pips from the current

Bid/Ask automatically?
This you can accomplish through the Order Entry preferences window by right clicking in the Order Entry box. You'll be looking for TTO offset prefills.
  • #1,672
  • Feb 25, 2008 8:20pm Feb 25, 2008 8:20pm
Justin,

In case you missed my question before, here it is again... Thanks!

Dahlia

Quoting Dahlia
Thanks Justin for the very thorough answer. A few more if you don't mind...

I'd like to be able to trade from an aircard. Is the speed on an aircard fast enough to accomodate the Remote Trader? Is it fast enough to scalp on a 5 minute chart? A 100 tick chart? (I'd appreciate any comments from any aircard users on this question as well...)

Also, if I'm still demo-ing on the Navigator, what are my options for free charting? If any?

Thanks! The fact that you guys have someone here to answer our questions say something about your customer service commitments.

Dahlia
Money missed is better than money lost
  • #1,673
  • Feb 26, 2008 5:31am Feb 26, 2008 5:31am
Hi Jason,
I'm looking at EFX fees/account type and MB fees/account type and I cannot see any relevance difference between them (min account 400$ , $5 per 100,000$ traded each side, leverage 100:1).
Since I'm interested to open an ECN forex account : what's the advantage for a user to open an account with EFX instead to open with MB ?

Thank You

Regards,
Skyline
  • #1,674
  • Feb 26, 2008 8:07am Feb 26, 2008 8:07am
Quoting skyline
Hi Jason,
I'm looking at EFX fees/account type and MB fees/account type and I cannot see any relevance difference between them (min account 400$ , $5 per 100,000$ traded each side, leverage 100:1).
Since I'm interested to open an ECN forex account : what's the advantage for a user to open an account with EFX instead to open with MB ?

Thank You

Regards,
Skyline

They have the same fees. Efxgroup is basically a forex branch of Mbtrading. Efxgroup is speciallized in Forex. Mbtrading is more speciallized in other assets. Efxgroup offer other services that are not availlable trought MBT like their Remote trader platform , their webinar etc.
The technology is the same , server except for the Remote trader that might have exclusive technology
  • #1,675
  • Feb 26, 2008 8:19am Feb 26, 2008 8:19am
Quoting phil90
They have the same fees. Efxgroup is basically a forex branch of Mbtrading. Efxgroup is speciallized in Forex. Mbtrading is more speciallized in other assets. Efxgroup offer other services that are not availlable trought MBT like their Remote trader platform , their webinar etc.
The technology is the same , server except for the Remote trader that might have exclusive technology
Thx Phil90 for your answer
And is it possible to see this remote trader platform in action ?
  • #1,676
  • Feb 26, 2008 8:56am Feb 26, 2008 8:56am
Quoting skyline
Thx Phil90 for your answer
And is it possible to see this remote trader platform in action ?

Yes It does look good.


http://www.efxgroup.com/rtpres1b/index.htm

Have a good day
  • #1,677
  • Feb 26, 2008 9:16am Feb 26, 2008 9:16am
Quoting skyline
Thx Phil90 for your answer
And is it possible to see this remote trader platform in action ?
If you are an EFX customer, you can log into it live from the home page of their website. There are also Tutorials on their website.
FXChant Singing the World of Forex
  • #1,678
  • Feb 26, 2008 10:35am Feb 26, 2008 10:35am
Quoting Dahlia
Thanks Justin for the very thorough answer. A few more if you don't mind...

I'd like to be able to trade from an aircard. Is the speed on an aircard fast enough to accomodate the Remote Trader? Is it fast enough to scalp on a 5 minute chart? A 100 tick chart? (I'd appreciate any comments from any aircard users on this question as well...)

Also, if I'm still demo-ing on the Navigator, what are my options for free charting? If any?

Thanks! The fact that you guys have someone here to answer our questions say something about your customer service commitments.

Dahlia
Dahlia ~

Sorry I missed this....

Yes, the speed of an aircard (depending on your service) should be plenty fast enough to work with Remote Trader.

The Navigator has free charts built-in, otherwise you'll need to use QuoteTracker, IntelliCharts or another service.
  • #1,679
  • Feb 26, 2008 10:57am Feb 26, 2008 10:57am
Quoting phil90
Yes It does look good.


http://www.efxgroup.com/rtpres1b/index.htm

Have a good day
That's strange , I cannot see anything displayed on the screen, I can only hear a voice. Moreover the demo login is disabled for remote trader platform, so how can I evaluate it before to open a live account ?
  • #1,680
  • Edited 10:38pm Feb 26, 2008 10:28pm | Edited 10:38pm
Justin,

Tonight, I've proceeded to open an account with EFX using the online forms. As I was filling it out, I ran into this statement:

Quote
You may sustain a total loss of initial margin funds and any additional funds deposited with MBTF to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice in order to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit in your account.

I know that many brokers offer margin protection. In otherwords, a client cannot lose more money than he/she deposits in the account. If the market moves against her, she'd get a margin call BEFORE the balance goes to $0. If she doesn't deposit more money into the account, then the broker liquidates her position, saving her balance from going into the negative.

By the quoted statement above, am I correct in reading that EFX does NOT offer margin protection, and that I COULD lose more money than the total amount that's deposited into my account? If I'm reading this correctly, can you tell me why EFX/MBT doesn't offer margin protection when so many of your competitors do? If I'm wrong, can you point me to something in writing about the margin protection for EFX/MBT?

Thanks,
Dahlia
Money missed is better than money lost
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