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MB Trading Futures - Introduction

  • #2,621
  • Oct 16, 2008 12:09am Oct 16, 2008 12:09am
[quote=fiberangel;2283433]Out of curiosity, did you not notice the volatility lately? Spreads have widened across all instruments, not just FX.[/quote

I have and I understand that, but how can a non ECN broker that is making money of spreads have a better spread than a ECN that dosent even widen spreads to make money? I think its a valid questions, and I asked why? Did they loose some liquitity providers.

-Sterling
Founder of Day Trading Forex Live
  • #2,622
  • Oct 16, 2008 12:11am Oct 16, 2008 12:11am
This broker is not what one thinks it is and there is no difference between them and other retail brokers. Indeed, they are much more expensive when you add up all the costs and lately the platform freezes regularly. This morning, one could not place an order when the Euro dropped and when it was at the bottom, one could not even get a fill for one standard lot although it was hovering at this price for several minutes. No liquidity for 100K??? That was just about 75 minutes before London open. Yes, i know, one could call the trading desk and place the order there but i doubt that the guy on the phone would have made a difference getting a fill. Basically MB Trading has been capitalizing on a perceived deficit of other brokers which is the alleged stop hunting which i think is nothing but a ghost in the minds of a lot of people. No matter what broker i was with before, i never got the impression that someone was deliberately taking out my stops. So for me MB Trading was definitely a step back but that is just my personal opinion of course.
  • #2,623
  • Oct 16, 2008 12:20am Oct 16, 2008 12:20am
Quoting Yaad
Is anyone having platform troubles at the moment?
I had a data outage via QT for about 30 mins, not sure what happened, as soon as I logged into the Nav everything was fine, could've been QT.. What was your issue?
  • #2,624
  • Oct 16, 2008 3:55am Oct 16, 2008 3:55am
Quoting onlinefx
This broker is not what one thinks it is and there is no difference between them and other retail brokers. Indeed, they are much more expensive when you add up all the costs and lately the platform freezes regularly. This morning, one could not place an order when the Euro dropped and when it was at the bottom, one could not even get a fill for one standard lot although it was hovering at this price for several minutes. No liquidity for 100K??? That was just about 75 minutes before London open. Yes, i know, one could call the trading desk and place the order there but i doubt that the guy on the phone would have made a difference getting a fill. Basically MB Trading has been capitalizing on a perceived deficit of other brokers which is the alleged stop hunting which i think is nothing but a ghost in the minds of a lot of people. No matter what broker i was with before, i never got the impression that someone was deliberately taking out my stops. So for me MB Trading was definitely a step back but that is just my personal opinion of course.
Remember when FF admins would trounce trolls for commenting on brokers or services with less than 100 posts? Ahh the good old days.

If you trade with a deal desk for any reason other than that you make heavy use of swap (which is a good reason), and if you don't also keep your p/l activity 100% on your end, you are a twit IMO.
  • #2,625
  • Oct 16, 2008 3:56am Oct 16, 2008 3:56am
Quoting Trader KGB
...or java.
With all due respect the only Java I can tolerate is the kind you pour in a mug.
  • #2,626
  • Oct 16, 2008 4:05am Oct 16, 2008 4:05am
Quoting Pip Hunter E
With all due respect the only Java I can tolerate is the kind you pour in a mug.
Agreed. I'll still take it over .Net though.
  • #2,627
  • Oct 16, 2008 4:36am Oct 16, 2008 4:36am
Quoting Pip Hunter E
Remember when FF admins would trounce trolls for commenting on brokers or services with less than 100 posts? Ahh the good old days.

If you trade with a deal desk for any reason other than that you make heavy use of swap (which is a good reason), and if you don't also keep your p/l activity 100% on your end, you are a twit IMO.
Anyone who believes in a broker conspiracy is a twit IMO.
  • #2,628
  • Oct 16, 2008 4:38am Oct 16, 2008 4:38am
Quoting onlinefx
Anyone who believes in a broker conspiracy is a twit IMO.
Pay no attention to the broker conspiracy behind the curtain...
  • #2,629
  • Oct 16, 2008 6:53am Oct 16, 2008 6:53am
Quoting Yaad
Is anyone having platform troubles at the moment?
I had the same problem. My MBTrader quotes were frozen at aprox 12:23 EST +/- 2-3 minutes. I was short EURUSD and my 1.3391 TP was hit on other data feeds, it was hit about 2-4 minutes after the freeze happened. I didn't know what to do so I put in a Market order to cover and got filled at the frozen quote, 1.3431, instead of the market price as shown on every other data feed I have checked which was easily in the neighborhood of 1.3391. So I closed my account.

The platform is actually showing a message "EUR/USD potential bad fill prices, Use caution, will advise", message time 1:49:51 EST. Easily an hour after the problem began. Followed by another message "All FX erroneous filled trades will be cancelled", message time 2:18:08 EST.

At least they acknowlege the problem.

lucidlamp
  • #2,630
  • Oct 16, 2008 10:21am Oct 16, 2008 10:21am
Wonder how they will handle that, its always problematic if the cancel/correction is not made in a timely fashion.

For example, i enter long on the erroneous price and then some time later i exit the trade on a 'good' price. When they cancel the bad trade, i suddenly have a short-position out of nowhere. If i would have made more trades between the bad fill and the correction, all trades would be the wrong direction and there would be an open position.

Amending the price of the bad fill would be much better than just cancel it.

lucidlamp: when you think you traded on a stale price or somehow got a wrong fill, you have to immediately call the tradedesk, ask if the fill is ok and if not, what to do. If you try to fix it and place trades yourself without talking to the broker, most of the time the 'good' trades afterwards will stand and the bad one will be canceled, resulting in unwanted trades/positions. I dont know how MB handles it, but many people have been burnt in simmilar situations (on IB for example). Always call and ask what to do, this way there will be less room for arbitrary broker decisions afterwards.
  • #2,631
  • Oct 16, 2008 2:30pm Oct 16, 2008 2:30pm
Do you think this would be a bad fill??????

http://www.forexfactory.com/attachme...1&d=1224185335
Attached Image (click to enlarge)
Click to Enlarge Name: Bad Fill.jpg Size: 108 KB
  • #2,632
  • Oct 16, 2008 2:50pm Oct 16, 2008 2:50pm
Ahhh. the fun of trading spot forex with market orders.
  • #2,633
  • Oct 16, 2008 3:03pm Oct 16, 2008 3:03pm
Quoting FrankTheTank
Ahhh. the fun of trading spot forex with market orders.
Hey u spying on me!!
  • #2,634
  • Oct 16, 2008 3:17pm Oct 16, 2008 3:17pm
this is a portion of the log/trace file:

Chart.ChartControl.OnPaint: Out of memory.
2008-10-15 09:41:36:875 in OnUnhandledApplicationException
2008-10-15 09:41:36:875 ********* exception trapped *********
2008-10-15 09:41:36:875 Attempted to read or write protected memory. This is often an indication that other memory is corrupt.
2008-10-15 09:41:36:875 System.AccessViolationException: Attempted to read or write protected memory. This is often an indication that other memory is corrupt.
at System.Windows.Forms.UnsafeNativeMethods.DispatchMessageW(MSG& msg)


thanks again[/quote]

I apologize if this is not the right thread for this but I just wanted to say that the ninjatrader issue seems to be memory related. It looks like their application is trying to use way too much memory at some point, and then crashes.

They recommended that I remove anything that gets data from navigator, so I removed everything from the watchlist and saved the layout. It still crashes.

Is there a forum where I can ask for some advice regarding memory issues? Even if it is a ninja software problem maybe loading up on RAM will allow it to function? thanks
  • #2,635
  • Oct 16, 2008 9:43pm Oct 16, 2008 9:43pm
Quoting Don4
Do you think this would be a bad fill??????

http://www.forexfactory.com/attachme...1&d=1224185335
I'd be interested to see what the order book said for this. You could tell exactly how long your order took to fill (and determine if that was or was not the problem). It should still be there in Nav for another couple hours.
  • #2,636
  • Oct 17, 2008 10:20am Oct 17, 2008 10:20am
Quoting Pip Hunter E
I'd be interested to see what the order book said for this. You could tell exactly how long your order took to fill (and determine if that was or was not the problem). It should still be there in Nav for another couple hours.
Here you go!!


http://www.forexfactory.com/attachme...1&d=1224256733
Attached Image (click to enlarge)
Click to Enlarge Name: efx (2).jpg Size: 38 KB
  • #2,637
  • Oct 17, 2008 10:45am Oct 17, 2008 10:45am
I find it odd that MBT allows limit+stop orders, (which means that if you are going short it needs to go down and hit your stop price and then, if it goes back up to your limit price, you will be filled short), but they do not offer the reverse. Why only offer one way?

I want to set a limit price that needs to be hit, and upon being hit, activating a stop order that will fill if hit.

Stoplimit, limit+ stop...these all seem to be the same thing more or less...I've tried them all and none seem to offer the ability to have the limit order be the FIRST part and then activating a stop order AFTER. Am I doing something wrong, or is this feature seen as not needed?
  • #2,638
  • Oct 17, 2008 11:21am Oct 17, 2008 11:21am
Quoting 24HourTrader
I find it odd that MBT allows limit+stop orders, (which means that if you are going short it needs to go down and hit your stop price and then, if it goes back up to your limit price, you will be filled short), but they do not offer the reverse. Why only offer one way?

I want to set a limit price that needs to be hit, and upon being hit, activating a stop order that will fill if hit.

Stoplimit, limit+ stop...these all seem to be the same thing more or less...I've tried them all and none seem to offer the ability to have the limit order be the FIRST part and then activating a stop order AFTER. Am I doing something wrong, or is this feature seen as not needed?
What you are looking for is probably the Limit + TTO order, check it and you will know.

Cheers
凹凸 only
  • #2,639
  • Oct 17, 2008 11:49am Oct 17, 2008 11:49am
Quoting Samuri
What you are looking for is probably the Limit + TTO order, check it and you will know.

Cheers
Remember, anything in front of the '+' sign is your entry price and anything on the back of the '+' sign is your exit.

So and example of Limit + Stop would be;

(Current Market = 1.3450)

Buy Entry Limit at 1.3250 with a Stop of 1.3230.

or

Sell Entry Limit at 1.3520 with a Stop of 1.3550.

Limit + TTO accomplishes the same thing, but adds a Stop & Target price upon being filled.
  • #2,640
  • Oct 17, 2008 1:16pm Oct 17, 2008 1:16pm
Thank a bunch for the replies guys, but these are also not what I am looking for. I am not looking to set a limit order with a stoploss or a take profit, I am looking to set a stop ORDER after a certain limit price has been hit. So...

Current market= 100.00.

For a short...Limit @ 100.10 + Sell stop @100.05.

This means I need price to go up and hit my limit @ 100.10, but does not fill me there. Instead, it activates a stop order @ 100.05, so only if price goes down to 100.05 I get filled down there.

This is unrelated to TTO's or order closing methods..this is about having a 2 part criteria to open the trade in the first place. The odd thing is that you can do the reverse...you can set a stop area of 99.90 plus a limit at 99.95...so again for a short it first needs to go to your stop area of 99.90 and if it does that THEN the limit order of 99.95 becomes active, only to be filled if it goes to 99.95.
So the sequence here is stop activated, then limit potentially activated. Why can't we do the opposite, with the limit activated, then the stop potentially activated? Again, this not related to stoplosses or takeprofits, I mean stop orders. Any help I'd be eternally grateful for
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