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MB Trading Futures - Introduction

  • #2,641
  • Oct 17, 2008 1:26pm Oct 17, 2008 1:26pm
Quoting 24HourTrader
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 not possible - why not just go long at 100.05 with a Stop or Stop Limit order?

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...no we dont. Stop+Limit says - go long/short at future price, once filled then set a target price. you can set a stop area of 99.90 plus a limit at 99.95...so 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
See in RED
  • #2,642
  • Edited 2:33pm Oct 17, 2008 2:08pm | Edited 2:33pm
Hey Justin, thanks again, but I think you are thinking of something else. Maybe you are confusing "stop limit" with "limit+ stop market."

If price is at 150.00 and I set a "limit" order at 150.20..price needs first to go up 20 pips and then I will be filled. Simple.

However, a "stop limit" order needs two things to happen before even filling the trade in the first place. If I set a "stop limit" with the limit at 150.20 and the stop at 149.80...price first needs to go down to 149.80 to hit the stop and then if that happens the limit becomes active, to be potentially filled on an eventual rise to 150.20. So it needs to go first down 20 pips, then up 40 pips. Again, this has nothing to do with take profits or stop losses..this is just to open the trade in the first place.

Try for yourself. Set a "stop limit" and set the stop somewhere that will not get hit any time soon...for a short trade of course set the stop lower and the limit higher and for a long trade set the limit lower and the stop higher ...when it hits your limit price it will not fill you since the first criteria has not been met.

And if you are thinking of the "stop" part of the "stop limit" order as a stoploss, that is not the case, as you will see if you try placing it above the market price for a short or below the market price for a long. It will not stop you out at that level,...becuase it is not a stop loss. It is a stop order.

So what I want to know is why we can have the first criteria be a stop order hit, and then activate a limit, but cannot have the first criteria be a limit, and then a stop order. If I have a precise level I want price to bounce off of, I may want to only enter after it has turned back in the desired direction a bit, even if it is a bit less favorable of a price.
  • #2,643
  • Oct 17, 2008 2:31pm Oct 17, 2008 2:31pm
24HourTrader,

What you are describing here is possible but not with standard order types. You would have to have some sort of custom app do that order management for you.
MBT's order types are very extensive and cover a lot of scenarios, but certainly cannot address every single one.

The way I look at a Stop+Limit order is Stop part of it will trigger the market order and Limit part of will limit your slippage. Imagine straddling news events. You can throw two Stop+Limit orders in opposing directions 30 pips away from current price (please note that I do not advocate this type of strategy nor do I ever employ it). If you only used Stop orders, you would be exposed to risks associated with market orders and news events (basically you are guaranteeing you will be filled, but not guaranteeing the price). But by using Stop+Limit orders at least you can specify how much you are willing to be slipped in the fast market.

Regards.
  • #2,644
  • Oct 17, 2008 3:03pm Oct 17, 2008 3:03pm
Hi fiberangel,

The thing is, you can do the reverse. You can set a stop order that will trigger a limit order if hit...but you cannot set a limit order that will trigger a stop order if hit. So the 2 part open criteria is something included, but only in one way. That's why I am thinking there may be something I'm overlooking..I don't see why they would go one way but not the other.
  • #2,645
  • Oct 17, 2008 4:26pm Oct 17, 2008 4:26pm
Too bad MB Trading can't have an easy trading platform like the MT4
  • #2,646
  • Oct 20, 2008 1:06am Oct 20, 2008 1:06am
Hi, can anyone explain to me how BUY STOP LIMIT and SELL STOP LIMIT work? With an example maybe? Thanks.
  • #2,647
  • Oct 20, 2008 4:59am Oct 20, 2008 4:59am
I'm seeing negative spreads today, especially on eur/usd and usd/jpy.
This is happening quite often.
Also eur/usd spread is 0 3-5 times per minute.
  • #2,648
  • Oct 20, 2008 7:34am Oct 20, 2008 7:34am
Quoting jagui
I'm seeing negative spreads today, especially on eur/usd and usd/jpy.
This is happening quite often.
Also eur/usd spread is 0 3-5 times per minute.

Yes, I experienced the same thing today. Forgive what may be a simplistic question from someone fairly new to all this. What causes this?
  • #2,649
  • Oct 20, 2008 8:17am Oct 20, 2008 8:17am
http://www.mbtrading.com/fx/orderTypes.asp

Quoting fxinvesta
Hi, can anyone explain to me how BUY STOP LIMIT and SELL STOP LIMIT work? With an example maybe? Thanks.
  • #2,650
  • Oct 22, 2008 5:13am Oct 22, 2008 5:13am
what is minimum deposit which I can still trading? I have heard sometime ago that it is 100$. anyone knows?
  • #2,651
  • Oct 22, 2008 10:26am Oct 22, 2008 10:26am
Justin: there are always bad ticks coming through around midnight maintainance downtime. One tick with zero value as price per pair (those are easy to filter), but also ticks that are 30-100 pips out. That messes up charting every day.
  • #2,652
  • Oct 22, 2008 5:15pm Oct 22, 2008 5:15pm
Quoting Signum
what is minimum deposit which I can still trading? I have heard sometime ago that it is 100$. anyone knows?
Signum ~

Minimum deposit for new accounts is $400, but you must maintain a balance in your account of $100 in order to place a trade on our system.
  • #2,653
  • Oct 22, 2008 5:17pm Oct 22, 2008 5:17pm
Quoting shrike
Justin: there are always bad ticks coming through around midnight maintainance downtime. One tick with zero value as price per pair (those are easy to filter), but also ticks that are 30-100 pips out. That messes up charting every day.
I'll ask ops about it....
  • #2,654
  • Oct 22, 2008 5:24pm Oct 22, 2008 5:24pm
Quoting fxinvesta
Hi, can anyone explain to me how BUY STOP LIMIT and SELL STOP LIMIT work? With an example maybe? Thanks.
see example:
Attached Image (click to enlarge)
Click to Enlarge Name: Buy Stop Limit example.png Size: 113 KB
  • #2,655
  • Oct 22, 2008 6:08pm Oct 22, 2008 6:08pm
Is anyone else having this same issue with MBT? All my quotes are blank and have been for a while now.
  • #2,656
  • Oct 22, 2008 6:22pm Oct 22, 2008 6:22pm
Quoting noblehobo
Is anyone else having this same issue with MBT? All my quotes are blank and have been for a while now.
Cancel that. They have finally returned to a normal working manner. That was frustrating
  • #2,657
  • Oct 22, 2008 6:49pm Oct 22, 2008 6:49pm
Quoting noblehobo
Is anyone else having this same issue with MBT? All my quotes are blank and have been for a while now.
I'm fine, but had a message that said if the quotes were bad to shut down and restart.
  • #2,658
  • Oct 22, 2008 7:08pm Oct 22, 2008 7:08pm
Quoting steve930
I'm fine, but had a message that said if the quotes were bad to shut down and restart.
Thanks Steve. I actually did that 2x's and on the last one I let it run for another few minutes. It finally reset itself and is all up and functional now. Thanks though. Much appreciated.
  • #2,659
  • Oct 22, 2008 7:13pm Oct 22, 2008 7:13pm
Quoting noblehobo
Thanks Steve. I actually did that 2x's and on the last one I let it run for another few minutes. It finally reset itself and is all up and functional now. Thanks though. Much appreciated.
but... there it goes again, and right when the mkt is moving. I understand that it's tough to manage with an over active market but come on... it's kinda bucketshopish to be honest.
  • #2,660
  • Oct 22, 2008 10:21pm Oct 22, 2008 10:21pm
Hi Justin,

I have a live account with MBTF, but I cannot login to the Remote Trader.
What seems to be the problem?
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