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MB Trading Futures - Introduction

  • #2,361
  • Aug 1, 2008 10:57am Aug 1, 2008 10:57am
I was wondering if there would be issues around NFP today. This is getting very upsetting. Anytime there is big news such as NFP or rate decisions the system can not handle it. Grrrrrr.

Next week should be fun.....
  • #2,362
  • Aug 1, 2008 11:39am Aug 1, 2008 11:39am
Quoting FrankTheTank
I was wondering if there would be issues around NFP today. This is getting very upsetting. Anytime there is big news such as NFP or rate decisions the system can not handle it. Grrrrrr.

Next week should be fun.....
Frank, I'll quote you from another thread post this morning you made....

"Sorry my friend. You learned a hard lesson. Never has stop or limit orders in place around news time unless you expect or plan for the worst. This is not a broker issue, its part of trading forex."

In addition...market orders have no guarantees either, but you know that already.
  • #2,363
  • Aug 1, 2008 11:41am Aug 1, 2008 11:41am
Quoting jlowder
They are aware of the problem and the developers are fixing it...

Just thought it interesting, that's all.

Thanks anyway.

Jason
If you haven't re-downloaded the latest version of the Navigator, please do here; http://mbtrading.com/download.asp. Bugs should be fixed.
  • #2,364
  • Aug 1, 2008 11:42am Aug 1, 2008 11:42am
Quoting IndyTrader
I would assume "Bid" and "Ask" but we can wait for Justin.
Sorry...yes, that B & A stand for Bid and Ask.
  • #2,365
  • Aug 1, 2008 1:13pm Aug 1, 2008 1:13pm
Quoting jleblang
Frank, I'll quote you from another thread post this morning you made....

"Sorry my friend. You learned a hard lesson. Never has stop or limit orders in place around news time unless you expect or plan for the worst. This is not a broker issue, its part of trading forex."

In addition...market orders have no guarantees either, but you know that already.
Wow Frank, Justin just purchased you for one penny. How do you feel about that?
  • #2,366
  • Aug 1, 2008 1:48pm Aug 1, 2008 1:48pm
Quoting fxtrader42
Wow Frank, Justin just purchased you for one penny. How do you feel about that?
ROFLMAO.

Nice one Justin, nice one fxtrader42.
  • #2,367
  • Aug 2, 2008 5:40am Aug 2, 2008 5:40am
Quoting jleblang
Frank, I'll quote you from another thread post this morning you made....

"Sorry my friend. You learned a hard lesson. Never has stop or limit orders in place around news time unless you expect or plan for the worst. This is not a broker issue, its part of trading forex."

In addition...market orders have no guarantees either, but you know that already.
Hello Justin, one other thing... I'm in contact with Vincent Pulizzi from MBT about this, but the new navigator, or Your servers, or really, I do not know what have a very big issue with having the qoutations on the fx board in compliance with what is on the fx chart, and propably what the really situation is. This is not BS'ing, I haven't seen such things happen on the old version of Your system, everything was compliant, a tick on the board = a tick on the chart ALWAY.

Here, check the screenshot, look at the chart, look at the fx board, and look at the time. I know it was the aftermath, but 7 minutes AFTER news the quotations weren't flunctuating, the fx board moved 1pips in a direction, the fx chart 1pips in another direction.

now this DID NOT happen before the update.

also I am a bit fed up with the stop market order I had at that time, but lets just say if it was a loss then it was just that BUT as I wrote to Vincent - I've seen the market move graduately downward, and the order had been left hanging until being taken out at the bottom of this movement. excuse me, but You are an ECN and not a market maker goddamnit!

this is also not a something I've seen, since I've traded news a couple of times in my lifetime, and MBT did not have any issues at that time.

please justin, get somebody to fix this mayhem with the new release.
-- just a simple trend follower
  • #2,368
  • Aug 3, 2008 11:40pm Aug 3, 2008 11:40pm
Quoting jleblang
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.
Hi Justin:
Thank you for that well thought out explanation. I was aware that MB Trading was diverse in the markets that they serviced, just wanted to make sure you didn't have capitalization issues. Thanks again for your response.

Jim
  • #2,369
  • Aug 7, 2008 8:44am Aug 7, 2008 8:44am
Justin,

Why doesn't MBT just save everyone time, energy, and anger and announce that you will not be open for business on NFP, ECB, and any other days that you feel your awful system/platform/server can't support. I was not even trying to trade the event risk, but did have a position in USD/JPY on that I had most of the morning and here at 9:39EDT, at least 15 min after Trichet's press conf. is over and i still can't close my position, and it's costing me money. And don't tell me to get on the phone b/c I'm on it and have been on hold for 30 min, and don't tell me either that all platforms go down during times like this(I've heard that excuse from you before) b/c my other broker lost connection for maybe 30 sec.(I'm not even sure it had anything to do with the event risk). Pitiful. I will be looking for another borker for day trades. Right now Hotspot is looking pretty good.
  • #2,370
  • Aug 7, 2008 9:31am Aug 7, 2008 9:31am
It is true that at times MBT (as well as other brokers) have had issues during high volatility times. BUT, today was ok. I wasn't trading manually at that time, but my system was up and running live and I had about 25 transactions around news announcement, so clearly, their systems were ok (at least for me).


Quoting phil008
Justin,

Why doesn't MBT just save everyone time, energy, and anger and announce that you will not be open for business on NFP, ECB, and any other days that you feel your awful system/platform/server can't support. I was not even trying to trade the event risk, but did have a position in USD/JPY on that I had most of the morning and here at 9:39EDT, at least 15 min after Trichet's press conf. is over and i still can't close my position, and it's costing me money. And don't tell me to get on the phone b/c I'm on it and have been on hold for 30 min, and don't tell me either that all platforms go down during times like this(I've heard that excuse from you before) b/c my other broker lost connection for maybe 30 sec.(I'm not even sure it had anything to do with the event risk). Pitiful. I will be looking for another borker for day trades. Right now Hotspot is looking pretty good.
  • #2,371
  • Aug 7, 2008 9:34am Aug 7, 2008 9:34am
Wow, I am glad I have decided to test something else instead of testing MBT. TKGB, are you on MBT yet, if so have you experienced these issues that traders here are complaining about?
  • #2,372
  • Aug 7, 2008 10:10am Aug 7, 2008 10:10am
That's interesting Fiberangel. Mine was down for 45 min or more. All 3 red lights. And my Oanda platform was wroking and I had the Trichet webcast going so i know my internet connection was good. Anybody else have a prob. today or am I the only one?
  • #2,373
  • Aug 7, 2008 10:31am Aug 7, 2008 10:31am
Quoting phil008
That's interesting Fiberangel. Mine was down for 45 min or more. All 3 red lights. And my Oanda platform was wroking and I had the Trichet webcast going so i know my internet connection was good. Anybody else have a prob. today or am I the only one?
Mine was working fine too.
  • #2,374
  • Edited 10:42am Aug 7, 2008 10:40am | Edited 10:42am
I Am Fine Too.

Long Usd/chf Stopped @1.0528, And Then Enter At 1.0563 Again, Close @ 1.0592 Later.

I wonder Are you still using the older navigator?
  • #2,375
  • Aug 7, 2008 10:45am Aug 7, 2008 10:45am
No problems here lately either, although I did have a couple of issues after the Navigator update but after a restart and smacking my computer upside the head they were resolved.
  • #2,376
  • Aug 7, 2008 10:55am Aug 7, 2008 10:55am
Hi all

in ticker preferences there are check boxes for

"bid" "ask" "trade"

what does this mean? When I only check "trade" my ticker is wiped out and no transactions appear.

can someone help me understand? I thout the "B" and "A" meant that a specific trade transacted at the bid or ask. What exactly are these options?

thanks very much
  • #2,377
  • Aug 7, 2008 11:21am Aug 7, 2008 11:21am
Quoting phil008
Justin,

Why doesn't MBT just save everyone time, energy, and anger and announce that you will not be open for business on NFP, ECB, and any other days that you feel your awful system/platform/server can't support. I was not even trying to trade the event risk, but did have a position in USD/JPY on that I had most of the morning and here at 9:39EDT, at least 15 min after Trichet's press conf. is over and i still can't close my position, and it's costing me money. And don't tell me to get on the phone b/c I'm on it and have been on hold for 30 min, and don't tell me either that all platforms go down during times like this(I've heard that excuse from you before) b/c my other broker lost connection for maybe 30 sec.(I'm not even sure it had anything to do with the event risk). Pitiful. I will be looking for another borker for day trades. Right now Hotspot is looking pretty good.
phil008,

I haven't received any reports of issues this morning, actually it seemed to go very smooth as the testimonials below are saying.

If you want us to look into this for you, I would suggest you please email the details of your event to [email protected] and CC me at [email protected] and I'll make sure someone looks into it for you immediately.
  • #2,378
  • Aug 7, 2008 11:24am Aug 7, 2008 11:24am
Quoting bigjim1958
Hi Justin:
Thank you for that well thought out explanation. I was aware that MB Trading was diverse in the markets that they serviced, just wanted to make sure you didn't have capitalization issues. Thanks again for your response.

Jim
Hey Jim,

Not sure if you saw the latest reports, but current net cap for MB is at $11.2 million. You'll continue to see increases as the we draw closer to future net cap deadlines.
  • #2,379
  • Aug 7, 2008 3:58pm Aug 7, 2008 3:58pm
Quoting PhilipK
Hi all

in ticker preferences there are check boxes for

"bid" "ask" "trade"

what does this mean? When I only check "trade" my ticker is wiped out and no transactions appear.

can someone help me understand? I thout the "B" and "A" meant that a specific trade transacted at the bid or ask. What exactly are these options?

thanks very much

can anyone help, I don't see anything here about the ticker http://mbtrading.com/fx/mbtnavigator.asp


thanks
  • #2,380
  • Aug 7, 2008 5:43pm Aug 7, 2008 5:43pm
Justin,

It seems as though i may owe you and MBT an apology as evidently I am the only one or one of few who had probs. this morning. I am curious however as to what you guys recommend doing when you lose connection? Log out and then try to log back in is all I was doing. Anything else I'm not doing that works?? As yes, I am using the latest version of the Nav. so I'm really at a loss as to why I couldn't get the platform to work for me this morning when the Trichet press conf., other platform was working fine.Thanks for any help.
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