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MB Trading Futures - Introduction

  • #2,341
  • Jul 30, 2008 9:29pm Jul 30, 2008 9:29pm
Hi Justin:
First of all want to thank you for your quick responses to people's questions on the forum, you always do a great job. My question is on the most recent NFA spreadsheet I saw, it says your net capital is at 8.6 million and the new 10 million dollar minimum is going into effect as of Oct. 31, 2008. Do I have this wrong, and if I'm correct, what are you guys doing to increase capitalization, because eventually it will have to be over 20 million. Thanks again for your patience.

Jim
  • #2,342
  • Edited 10:16pm Jul 30, 2008 10:15pm | Edited 10:16pm
Quoting yorygog
I haven't had any problems with that.
That's interesting, I'm looking at my screen as I type this

"last tick" on my level2 tab (through ninja trader) is behind the ticker, though not by much. Less than a full minute and usually 1 or 2 pips.

I need to check on navigator when using that alone........
  • #2,343
  • Edited 11:02pm Jul 30, 2008 10:47pm | Edited 11:02pm
justin,

I have 2 questions...

look at the picture

a) on the time and sales what does (A) and (B) represents?

b) I'm unable to get the bid/ask price side by side for easy viewing...is it possible to do so?

do you have any manuals for the MBT navigator on Ninja Trader,I have emailed NT and they say they do no have one...

can you give any time frame that MBT FX have backfilled data?

also can the hotkeys for the navigator be use on NT's MBTnavigator...but all the settings I have to set it up on the navigator itself not through NT's?

many thanks...
Attached Image
  • #2,344
  • Jul 30, 2008 11:33pm Jul 30, 2008 11:33pm
Quoting hanz
justin,

I have 2 questions...

look at the picture

a) on the time and sales what does (A) and (B) represents?

b) I'm unable to get the bid/ask price side by side for easy viewing...is it possible to do so?

do you have any manuals for the MBT navigator on Ninja Trader,I have emailed NT and they say they do no have one...

can you give any time frame that MBT FX have backfilled data?

also can the hotkeys for the navigator be use on NT's MBTnavigator...but all the settings I have to set it up on the navigator itself not through NT's?

many thanks...
solution is to purchase ninjatrader....dun use the simulated version. lol

for data, i think u gotta contact e-signal, i've given up on waiting for mbt. so much for their marketing...always hangs the fish above ur head, never delivers.
  • #2,345
  • Jul 31, 2008 12:35am Jul 31, 2008 12:35am
Quoting jest1081
solution is to purchase ninjatrader....dun use the simulated version. lol

for data, i think u gotta contact e-signal, i've given up on waiting for mbt. so much for their marketing...always hangs the fish above ur head, never delivers.
no you can execute trades on NT without having to pay for the license...that is you can't use the DOM or trading for the chart... I dont need it anyway..

there's a MBT Navigator on file-> new -> mbt navigator which is identically the same as the navigator software itself...

esignal? i rather go with barcharts...or opentick
  • #2,346
  • Jul 31, 2008 2:19am Jul 31, 2008 2:19am
Not to be rude or anything, but I have tried the so callled Ninja - Trader....no big deal. Just an out let for people who are losing to give them yet another false hope that they can be winners.

It's all in the mind, and that it was makes the difference. mental and spiritual awareness.
  • #2,347
  • Jul 31, 2008 3:11am Jul 31, 2008 3:11am
Quoting hanz
no you can execute trades on NT without having to pay for the license...that is you can't use the DOM or trading for the chart... I dont need it anyway..

there's a MBT Navigator on file-> new -> mbt navigator which is identically the same as the navigator software itself...

esignal? i rather go with barcharts...or opentick
you dun wanna go to barcharts for fx data...trust me. anyway barcharts dun carry tick data
opentick is cheapo, and carries alot of bad ticks too.

e-sig is tdfx, same data mbt is running. you dun have much choice if it comes to backfills buddy.
  • #2,348
  • Jul 31, 2008 4:00am Jul 31, 2008 4:00am
I'll just wait what justin has to say...

p.s: I dont really need backfilled data...just a want...
  • #2,349
  • Jul 31, 2008 4:03am Jul 31, 2008 4:03am
Quoting yorygog
Not to be rude or anything, but I have tried the so callled Ninja - Trader....no big deal. Just an out let for people who are losing to give them yet another false hope that they can be winners.

It's all in the mind, and that it was makes the difference. mental and spiritual awareness.
i assume you never traded equities before...

p.s: neither do I,but from what I know...stock traders loves MBT navigator and they don't trade little lot like most of us here...

never tried but big account trader uses neoticker + mbt = mbt on steroid...
  • #2,350
  • Jul 31, 2008 4:16am Jul 31, 2008 4:16am
Quoting yorygog
Not to be rude or anything, but I have tried the so callled Ninja - Trader....no big deal. Just an out let for people who are losing to give them yet another false hope that they can be winners.

It's all in the mind, and that it was makes the difference. mental and spiritual awareness.
actually ur right that NT is no bid deal, i cant be bothered abt the rest of ur comments tho. qoutetracker is almost as good and is plenty of times lighter.

but i needed backfills and im a cheapskate so i had to use NT and backfill my data from gain cap. if the mbt people decides to offer backfills, id go back to quotetracker.
  • #2,351
  • Jul 31, 2008 11:40am Jul 31, 2008 11:40am
Quoting bigjim1958
Hi Justin:
First of all want to thank you for your quick responses to people's questions on the forum, you always do a great job. My question is on the most recent NFA spreadsheet I saw, it says your net capital is at 8.6 million and the new 10 million dollar minimum is going into effect as of Oct. 31, 2008. Do I have this wrong, and if I'm correct, what are you guys doing to increase capitalization, because eventually it will have to be over 20 million. Thanks again for your patience.

Jim
Jim ~

First, thanks for the comments. Sorry this one took me 12 hours to get to overnight. ;-)

Second, in regard to the net capital issue, you can probably hop back about a year on these boards and see the same conversation related to when the NFA was going to bump net cap to $5 million. At the time, we were showing/had assigned funds to exceed the $1.5 million requirement by about 50% because we felt that was comfortable. We stated from the start that MBTF (MB Trading Futures) was just a single branch of our company, and we would move the capital into place when the $5 million requirement kicked in. It did and we did, showing about $7-8 million (which was again about 50% more than the requirement). Keep in mind that money set aside for this purpose is essentially “dead” funds to us that can’t be used in other areas, so our approach has been that there is no need to show excessively more funds. We exceed the criteria by a comfortable margin and recognize that most of our customers know that we are also members to several other regulatory entities (not the least of which is FINRA) since we trade stocks, options, futures, forex, and are attached to many, many exchanges which all require net capital requirements (along with our stock and futures clearing firms, etc.).

Our approach this year with the new requirement remains the same. By the time that the $10 million requirement is in place, we will have allocated appropriate funds to meet this requirement.

In terms of the actual NFA/CFTC reports, keep in mind that they trail by a month, meaning the most recent report that was posted around July 7 is actually for end of month of May. I’m not saying that would matter a ton, since we will simply be moving funds to meet the criteria when needed, but it does mean that the actual NFA/CFTC showing our net cap for October 31 won’t be public until around December 7. Either way, MB Trading is a large house, and we’ve been around for over a decade meeting all of the regulatory requirements of the various entities that we are attached to. We take all of these matters very seriously and have a full Compliance Department that stays in daily contact with all of the agencies to let them know how we are meeting any requirements.

Here’s a final sidenote for you to consider, however. Most “forex brokers” are just that. What you see in their net cap report is everything because they only have the one entity to show their assets, and that’s what makes this a legitimate concern for people opening accounts with the broker. In our case, and in the case of some of our competition, the forex / futures arm is just a branch of a much bigger picture that is very well capitalized overall.
  • #2,352
  • Jul 31, 2008 3:24pm Jul 31, 2008 3:24pm
Sounds dirty, don't it? Actually I was wondering if you can do an UNMANAGED straddle trade on the mbt platform. For instance, right before I go to bed place two limit trades, 50 pips on either side of the current price and then when one hits it will cancel the other trade. Is this possible or would I have to cancel the other trade manually? I know gft has a "OCO" (one cancels the other) option.
  • #2,353
  • Jul 31, 2008 6:13pm Jul 31, 2008 6:13pm
Quoting hanz
justin,

I have 2 questions...

look at the picture

a) on the time and sales what does (A) and (B) represents?

b) I'm unable to get the bid/ask price side by side for easy viewing...is it possible to do so?

do you have any manuals for the MBT navigator on Ninja Trader,I have emailed NT and they say they do no have one...

can you give any time frame that MBT FX have backfilled data?

also can the hotkeys for the navigator be use on NT's MBTnavigator...but all the settings I have to set it up on the navigator itself not through NT's?

many thanks...
justin? no? ok i just want to know what the A and B means....
  • #2,354
  • Jul 31, 2008 6:17pm Jul 31, 2008 6:17pm
Quoting hanz
justin? no? ok i just want to know what the A and B means....
I believe ask and bid
  • #2,355
  • Aug 1, 2008 2:11am Aug 1, 2008 2:11am
Quoting hanz
justin? no? ok i just want to know what the A and B means....
I would assume "Bid" and "Ask" but we can wait for Justin.
  • #2,356
  • Aug 1, 2008 7:47am Aug 1, 2008 7:47am
Great execution LOL.The biggest joke around this forum.Even 12 minutes after the NFP release the navigator couldnt cancel an order.Pick up the phone you say?F...
Besides its only money.Of course i was filled and stopped out
  • #2,357
  • Aug 1, 2008 7:57am Aug 1, 2008 7:57am
What was the error message when you tried to cancel the order?
  • #2,358
  • Aug 1, 2008 8:11am Aug 1, 2008 8:11am
Cancel rejected:no such order
  • #2,359
  • Aug 1, 2008 8:26am Aug 1, 2008 8:26am
Quoting jleblang
Jason,


It's still called commissions and you should be able to find it by right clicking on the column row under Positions and selecting add/remove columns.
They are aware of the problem and the developers are fixing it...

Just thought it interesting, that's all.

Thanks anyway.

Jason
  • #2,360
  • Aug 1, 2008 8:32am Aug 1, 2008 8:32am
Quoting panos69
Cancel rejected:no such order
was the order filled?
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