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MB Trading Futures - Introduction

  • #2,161
  • Jun 19, 2008 5:10pm Jun 19, 2008 5:10pm
Justin LeBlang,

A slight tutorial request fo MBTrading platform, if possible:

EURUSD is trading around 1.0000. I would like to place an order to buy (go long) at the market when/if it goes to 1.2000 and set a profit target at 1.5000 and a stop loss at 1.0000. Is this possible using a single order entry? and if so how would I go about placing the order?

In MT4 one would select Pending Order... Buy Stop and fill in the Price (in this case 1.2000) the Take Profit (1.5000 in this case) and the Stop Loss (1.0000 in this case) in the Order entry window. All three parameters would be sent to the broker with one order.

Hopefully I've posed the question in clear concise English.

Thanks,
lucidlamp
  • #2,162
  • Jun 19, 2008 5:31pm Jun 19, 2008 5:31pm
Quoting jleblang
LOL - When MT4 works properly with a true ECN platform, MB will be more than happy to offer it.
Can't this be bridged? Make an EA working on a demo acct and send the orders through the ECN via FIX...
  • #2,163
  • Jun 19, 2008 5:42pm Jun 19, 2008 5:42pm
Quoting lucidlamp
Justin LeBlang,

A slight tutorial request fo MBTrading platform, if possible:

EURUSD is trading around 1.0000. I would like to place an order to buy (go long) at the market when/if it goes to 1.2000 and set a profit target at 1.5000 and a stop loss at 1.0000. Is this possible using a single order entry? and if so how would I go about placing the order?

In MT4 one would select Pending Order... Buy Stop and fill in the Price (in this case 1.2000) the Take Profit (1.5000 in this case) and the Stop Loss (1.0000 in this case) in the Order entry window. All three parameters would be sent to the broker with one order.

Hopefully I've posed the question in clear concise English.

Thanks,
lucidlamp
Hi lucidlamp ~

The order type you are looking for is stop+tto.

Since the market is trading around 1.0000 and you want to go long at a future price, we are going to use a buy stop order.

Step 1: Select stop + tto. (entry + exit)

Step 2: adjust entry price or in this case 'stop or stop price' to 1.2000

Step 3: hit Buy EUR/USD since we want to go long at a future price

TTO window appears and displays upper and lower trigger. Since we are going long, the upper trigger is our target price and the lower is our stop price.

Step 4: adjust upper trigger to 1.5000 (target price)

Step 5: adjust lower trigger to 1.0000 (stop price)

review trade and hit submit.

How's that look?
Attached Image (click to enlarge)
Click to Enlarge Name: Stop+TT Screen Shott.png Size: 68 KB
  • #2,164
  • Jun 19, 2008 5:46pm Jun 19, 2008 5:46pm
Quoting charlinks
Can't this be bridged? Make an EA working on a demo acct and send the orders through the ECN via FIX...
I don't think its that easy.
  • #2,165
  • Jun 19, 2008 7:58pm Jun 19, 2008 7:58pm
Quoting jleblang
I don't think its that easy.
Well make it easy then. Give us easy way to connect using FIX through DLL calls.

We'll find a way to route the orders from an EA in MT4 demo acct to MBT...
  • #2,166
  • Jun 20, 2008 4:17am Jun 20, 2008 4:17am
Quoting charlinks
Give us easy way to connect using FIX through DLL calls.
They already did. See http://mbtrading.com/MbtFIX.asp
I'm not insane; my mother had me tested.
  • #2,167
  • Jun 20, 2008 5:54am Jun 20, 2008 5:54am
Quoting RoBiK
They already did. See http://mbtrading.com/MbtFIX.asp
RoBik
So does this mean we can use MT4 with MBT?!
  • #2,168
  • Jun 20, 2008 6:16am Jun 20, 2008 6:16am
Quoting RoBiK
They already did. See http://mbtrading.com/MbtFIX.asp
What I mean is make wrappers so we can call it from an MT4 script.
  • #2,169
  • Jun 20, 2008 6:34am Jun 20, 2008 6:34am
Quoting charlinks
What I mean is make wrappers so we can call it from an MT4 script.
why should they build an extra wrapper with some custom API around an industry standard protocol?

anyway, if you need a fix client implementation then search the net... there are plenty out there. For example http://www.quickfixengine.org/
I'm not insane; my mother had me tested.
  • #2,170
  • Jun 20, 2008 7:58am Jun 20, 2008 7:58am
Hi Justin,

I dumped some forex level 2 data with the checkLevelTwo sample code in MBT SDK. Here are some of the data rows:

EUR/USD TDFX:15453000 1 1.5453 10000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 1.5452 18000000 23:30:39 FALSE
EUR/USD TDFX:15403000 1 1.5403 3000 22:04:11 FALSE
EUR/USD TDFX:15453000 1 1.5453 15000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 1.5452 13000000 23:30:39 FALSE
EUR/USD TDFX:15457000 2 1.5457 8000000 23:30:11 FALSE
EUR/USD TDFX:15458000 2 1.5458 6000000 23:30:20 FALSE
EUR/USD TDFX:15453000 1 1.5453 18000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 1.5452 10000000 23:30:39 FALSE
EUR/USD TDFX:15455000 2 0 0 23:30:39 TRUE
EUR/USD TDFX:15456000 2 1.5456 21000000 23:30:41 FALSE
EUR/USD TDFX:15490000 2 1.549 60000 21:06:10 FALSE
EUR/USD TDFX:15453000 1 1.5453 28000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 0 0 23:30:39 TRUE
EUR/USD TDFX:15395000 1 1.5395 2000 21:56:42 FALSE
EUR/USD TDFX:15457000 2 1.5457 6000000 23:30:48 FALSE
EUR/USD TDFX:15454000 1 1.5454 1000000 23:30:48 FALSE
EUR/USD TDFX:15453000 1 1.5453 27000000 23:30:20 FALSE
EUR/USD TDFX:15395000 1 0 0 21:56:42 TRUE
EUR/USD TDFX:15454000 1 1.5454 4000000 23:30:48 FALSE
EUR/USD TDFX:15453000 1 1.5453 24000000 23:30:20 FALSE

The rows were ordered by the sequence they were received from IMbtQuotesNotify.OnLevel2Data event. The second rightmost column is UTCTime. I notice the values of UTCTime are not in a time sequence as I assumed. Can you tell me what the values are?

Thanks
  • #2,171
  • Jun 20, 2008 1:24pm Jun 20, 2008 1:24pm
If I'm not mistaken, this is the time that the bid/offer was put into the system. You can test it out yourself. Just throw a bid somewhere and look at the timestamp.



Quoting wymontreal
Hi Justin,

I dumped some forex level 2 data with the checkLevelTwo sample code in MBT SDK. Here are some of the data rows:

EUR/USD TDFX:15453000 1 1.5453 10000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 1.5452 18000000 23:30:39 FALSE
EUR/USD TDFX:15403000 1 1.5403 3000 22:04:11 FALSE
EUR/USD TDFX:15453000 1 1.5453 15000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 1.5452 13000000 23:30:39 FALSE
EUR/USD TDFX:15457000 2 1.5457 8000000 23:30:11 FALSE
EUR/USD TDFX:15458000 2 1.5458 6000000 23:30:20 FALSE
EUR/USD TDFX:15453000 1 1.5453 18000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 1.5452 10000000 23:30:39 FALSE
EUR/USD TDFX:15455000 2 0 0 23:30:39 TRUE
EUR/USD TDFX:15456000 2 1.5456 21000000 23:30:41 FALSE
EUR/USD TDFX:15490000 2 1.549 60000 21:06:10 FALSE
EUR/USD TDFX:15453000 1 1.5453 28000000 23:30:20 FALSE
EUR/USD TDFX:15452000 1 0 0 23:30:39 TRUE
EUR/USD TDFX:15395000 1 1.5395 2000 21:56:42 FALSE
EUR/USD TDFX:15457000 2 1.5457 6000000 23:30:48 FALSE
EUR/USD TDFX:15454000 1 1.5454 1000000 23:30:48 FALSE
EUR/USD TDFX:15453000 1 1.5453 27000000 23:30:20 FALSE
EUR/USD TDFX:15395000 1 0 0 21:56:42 TRUE
EUR/USD TDFX:15454000 1 1.5454 4000000 23:30:48 FALSE
EUR/USD TDFX:15453000 1 1.5453 24000000 23:30:20 FALSE

The rows were ordered by the sequence they were received from IMbtQuotesNotify.OnLevel2Data event. The second rightmost column is UTCTime. I notice the values of UTCTime are not in a time sequence as I assumed. Can you tell me what the values are?

Thanks
  • #2,172
  • Jun 24, 2008 11:13am Jun 24, 2008 11:13am
Quoting fiberangel
If I'm not mistaken, this is the time that the bid/offer was put into the system. You can test it out yourself. Just throw a bid somewhere and look at the timestamp.
Yes, that is correct.
  • #2,173
  • Jun 24, 2008 4:39pm Jun 24, 2008 4:39pm
ok so I have 2 accounts one with MB Trading for stocks, options, futures and one with EFX Group for forex.

How do I make it so I can trade both from the same computer?

Do I install each of the corresponding navigator software in different folders?
  • #2,174
  • Jun 24, 2008 4:42pm Jun 24, 2008 4:42pm
Quoting charlinks
ok so I have 2 accounts one with MB Trading for stocks, options, futures and one with EFX Group for forex.

How do I make it so I can trade both from the same computer?

Do I install each of the corresponding navigator software in different folders?
You can't be logged in simultaneously to both from the same computer, but you should be able to log out and back in with either user name and password.
  • #2,175
  • Jun 24, 2008 4:56pm Jun 24, 2008 4:56pm
Gidday jleblang

I have just signed up to the MBT demo this is my first adventure in to the world of ECN's but so far I have to say I like it. There is only one problem there is hell of a lot to learn about the platform and not enough hours in the day. lol

Are there any charting packages that you could recommend to try.


Cheers


Kiwi
  • #2,176
  • Jun 25, 2008 10:10am Jun 25, 2008 10:10am
What orders are reserve, discretionary reserve, discretionary, and pegged?

I apologize if these have been discussed already. Thanks.
"People sometimes mistake luck with skill"
  • #2,177
  • Jun 25, 2008 1:01pm Jun 25, 2008 1:01pm
Quoting Kiwi06
Gidday jleblang

I have just signed up to the MBT demo this is my first adventure in to the world of ECN's but so far I have to say I like it. There is only one problem there is hell of a lot to learn about the platform and not enough hours in the day. lol

Are there any charting packages that you could recommend to try.


Cheers


Kiwi
Hi Kiwi,

Thank you for your message and interest in MB Trading.

The platform certainly is more robust then most traders are used to in the forex markets, but I feel confident that if you give it time and practice, it will soon become one of your favorites as it does with so many others.

Have you checked out our webinars yet? http://mbtrading.com/fx/Webinars.asp

With regards to charting, you have many options with MB Trading; eSignal, IntelliCharts, NinjaTrader, OmniTrader and many more.

Check Here: http://mbtrading.com/thirdPartyTs.asp and here http://mbtrading.com/integration.asp

Both of those pages have different packages....many people just choose to go with IntelliCharts, for more info visit: http://mbt.tradesecuring.com/Misc/fr...lselection.asp

Let me know if you need anything else.
  • #2,178
  • Jun 25, 2008 1:02pm Jun 25, 2008 1:02pm
Quoting 20pips
What orders are reserve, discretionary reserve, discretionary, and pegged?

I apologize if these have been discussed already. Thanks.
20pips ~

Please visit: http://mbtrading.com/orderTypes.asp.

That should help you.
  • #2,179
  • Jun 25, 2008 5:43pm Jun 25, 2008 5:43pm
Hi Justin,

I have just setup a live account and have a question to ask re ordering - I felt it would be worthwhile asking here as the answer may benefit a few.

Is there any way that you can set MB Navigator to close only half of your position in the profit component (not stoploss) of a TTO order?

Example - Say I wanted to go long with 20 lots on the EUR at 1.0000 with a stoploss of 0.9990. Is there any way I can setup MB Navigator to sell 10 lots at 1.0010 and leave the remaining 10 lots in the market?
Leonardo Follower
  • #2,180
  • Jun 25, 2008 9:27pm Jun 25, 2008 9:27pm
Quoting shodd
Hi Justin,

I have just setup a live account and have a question to ask re ordering - I felt it would be worthwhile asking here as the answer may benefit a few.

Is there any way that you can set MB Navigator to close only half of your position in the profit component (not stoploss) of a TTO order?

Example - Say I wanted to go long with 20 lots on the EUR at 1.0000 with a stoploss of 0.9990. Is there any way I can setup MB Navigator to sell 10 lots at 1.0010 and leave the remaining 10 lots in the market?
Hi shodd ~

This is possible, but it will require that you either enter the TTO separately from the initial order, or that you later cancel and replace the TTO with one that is only 1/2 the size.

For instance;

You could go long 20 lots EUR at 1.0000 at market and then after the order was filled, add a stand alone TTO for 10 lots, thus accomplishing your goal.

Or, as stated above, enter the trade with the TTO and cancel and replace it at a later time.
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