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MB Trading Futures - Introduction

  • #2,721
  • Dec 1, 2008 12:00pm Dec 1, 2008 12:00pm
"Trade between the spreads".

LOL

I tried many times and rarely got filled.

Also MBT don't show every price movement.
It's nothing different than a Deal Desk.

You can run MBT and ATC Brokers simultaniously.
Then you can figure out which broker comes closer to real ECN prices.
ForexFactory SUCKS.
  • #2,722
  • Dec 1, 2008 12:07pm Dec 1, 2008 12:07pm
Quoting fiberangel
Quote by paradoxical on Nov 27, 2007 9:48pm:

http://www.forexfactory.com/showpost...7&postcount=76

"Being only inthe forex arena for several months, when someone that has the respect and admiration of others (tkimble) that have been in forex far longer than I, I would be a fool not to pay attention. I think it was J.Paul Getty that once said he got rich by hiring guys that were much smarter than he was. So, I'm applying that philosophy to forex. I plan on getting rich by paying attention to to people that are much smarter...
DOH!

You guys crack me up. Justin, I swear, I don't know how you put up with the nonsense on these boards. I try to ignore the tools, but I do find it amusing when someone blasts them like fiberangel just did here. It seems like all of traders that "stop using MB Trading" but then spend every waking hour here on the MB Trading board ends up getting caught in a web of lies eventually. It's easier just to ignore them and laugh. Keep up the great work, obviously a lot of us appreciate it.

Indy
  • #2,723
  • Dec 1, 2008 12:12pm Dec 1, 2008 12:12pm
Quoting htbreaker
"Trade between the spreads".

LOL

I tried many times and rarely got filled.

Also MBT don't show every price movement.
It's nothing different than a Deal Desk.

You can run MBT and ATC Brokers simultaniously.
Then you can figure out which broker comes closer to real ECN prices.
What does "also MBT don't show every price movement" mean? Let's start with you expanding on that. In the charts? You saying they don't show their quotes in the charts? Or are you saying that customer limit orders aren't reflected in the quotes? I've placed about a million limit orders on the MBT system and I'd say prolly 100% have reflected immediately on the screen. So what are you talking about? There is no such thing as "ECN prices" either. ECN is a function of how execution works more than a pricing issue, or maybe Justin can correct me if I'm wrong. I had an account with Hotspot, and it certainly wasn't liquid or impressive, and this was before the last couple of months.
  • #2,724
  • Dec 1, 2008 12:19pm Dec 1, 2008 12:19pm
Quoting IndyTrader
What does "also MBT don't show every price movement" mean? Let's start with you expanding on that. In the charts? You saying they don't show their quotes in the charts? Or are you saying that customer limit orders aren't reflected in the quotes? I've placed about a million limit orders on the MBT system and I'd say prolly 100% have reflected immediately on the screen. So what are you talking about? There is no such thing as "ECN prices" either. ECN is a function of how execution works more than a pricing issue, or maybe Justin can correct me...
Indy ~

You are correct. The term “ECN pricing” makes no sense. An ECN platform lets your orders interact directly with the rest of the banks equally for all to see. That’s it. But I don’t bother replying when someone’s signature line has another broker in it. Obviously, he works for them or has a relationship with them. I don’t go on competitor’s threads, but they come on ours all of time. Maybe that says it all, really. We must have something if they feel the need to come here and spend time doing nothing but bad-mouthing us. If I thought another broker was really competition, then maybe I’d go there too.
  • #2,725
  • Dec 1, 2008 1:12pm Dec 1, 2008 1:12pm
Lots of kool aid drinkers in this room, I see. Of course, no mention is made of the lousy and complicated trading platform, lack of charts, lack of tools. One person says his limit orders are hardly ever filled, and, of course, that comment gets ignored. If I place a limit order on IBFX, and it doesn't get filled, so be it. So, you want to say I MIGHT get filled quicker on MBT. However, one of your customers says this isn't the case. In any event, if I set limit orders far away from the current price, and I don't worry about getting filled a few seconds earlier than you claim MBT would fill me. In any event, am very happy with current broker, and would never go back to a bare bones trading platform such as MB
  • #2,726
  • Dec 1, 2008 1:31pm Dec 1, 2008 1:31pm
Quoting paradoxical
Lots of kool aid drinkers in this room, I see. Of course, no mention is made of the lousy and complicated trading platform, lack of charts, lack of tools. One person says his limit orders are hardly ever filled, and, of course, that comment gets ignored. If I place a limit order on IBFX, and it doesn't get filled, so be it. So, you want to say I MIGHT get filled quicker on MBT. However, one of your customers says this isn't the case. In any event, if I set limit orders far away from the current price, and I don't worry about getting filled a few...
There is no benefit to doing charting and actual trading on the same broker. If I am ready to place a trade, what difference does it make if I call up my trade window from the same broker, or a different one? Either way, I am going to move my mouse and make one click to call up the window. The amount of time it takes is unchanged. Many SERIOUS traders, perhaps even the majority, do charting and actual trade execution on separate platforms,at least in the spot market.

As regards the trading execution platform, it is neither lousy nor complicated. Perhaps you see the offering of many different versatile types of trades is a bad thing because of the slight learning curve? It is only as complicated as you want to make it. All of the simple order types are there, but if you want to get more in depth, that option also exists. I see no reason for MBT to screw over advanced users for fear of scaring away amateurs.It also allows a large number of custom default settings, a real benefit if you place many trades.
  • #2,727
  • Dec 1, 2008 1:46pm Dec 1, 2008 1:46pm
Quoting 24HourTrader
Many SERIOUS traders, perhaps even the majority, do charting and actual trade execution on separate platforms,at least in the spot market.
100% agreed.

Never understood the charting argument when selecting a broker, that's not even a checkmark on my list. Two of my trading venues have no charting whatsoever. There are so many free & fee-based charting packages, it makes no sense to rely on your broker for one.
  • #2,728
  • Dec 1, 2008 3:48pm Dec 1, 2008 3:48pm
Quoting paradoxical
Lots of kool aid drinkers in this room, I see. Of course, no mention is made of the lousy and complicated trading platform, lack of charts, lack of tools. One person says his limit orders are hardly ever filled, and, of course, that comment gets ignored. If I place a limit order on IBFX, and it doesn't get filled, so be it. So, you want to say I MIGHT get filled quicker on MBT. However, one of your customers says this isn't the case. In any event, if I set limit orders far away from the current price, and I don't worry about getting filled a few...
What I never get about the people that come around bashing MB on these boards is that they can never say "the platform just wasn't for me." When you realize that MB plugs into tons of third party apps (I love NinjaTrader!), the idea that someone needs everyone else to hate the platform because they couldn't somehow get it to suit their exact preferences is bizarre to me and really discredits them. Don't tell me I'm drinking the Kool-Aid just because I do get filled enough between the spreads to offset my concerns about the current market environment. And the idea that the software is bad is just silly, as someone already pointed out. You can make it is easy to use or as complicated as you want depending on what type of trader that you are. Considering how easy it is to snap it into so many third party apps, or, as Trader KGB said, to run any other app separate from your broker, that whole conversation is moot. Now can we ignore the idiots and will someone get back to showing me the size on Oanda? I still haven't seen a reply to my earlier post. I just want to compare what they show at each price on a Level 2 versus MB.
  • #2,729
  • Dec 1, 2008 4:29pm Dec 1, 2008 4:29pm
Quoting jleblang
...But I don’t bother replying when someone’s signature line has another broker in it. Obviously, he works for them or has a relationship with them...
I don't work for them and i have no relationship with them.

I'm just telling the truth about your ridiculous spreads,commission and rollover rates.

Even the most deal desk and market makers are more attractive than MBT.
ForexFactory SUCKS.
  • #2,730
  • Dec 1, 2008 5:11pm Dec 1, 2008 5:11pm
Quoting htbreaker
I don't work for them and i have no relationship with them.

I'm just telling the truth about your ridiculous spreads,commission and rollover rates.

Even the most deal desk and market makers are more attractive than MBT.
No-one is being held to ransom here. If you are not satisfied then move on. Some will hold certain criteria to be more important than others might do so differences in opinion are inevitable. No need to make it personal.

Commissions are high and the spreads have been volatile lately. On the other hand my trades get executed rapidly and I personally find the platform to be excellent since I actually learned how to get the most out of it. Even so, MBT is not my only broker so if the negatives do outweigh the positives than I can use another one until conditions become favourable again.

Persistent trolling in this forum does seem suspicious to me, any serious trader has better things to do with their time.
  • #2,731
  • Dec 1, 2008 5:23pm Dec 1, 2008 5:23pm
Indy,

Sorry for the delay.

I'm just capturing what I see and post it here. I didnt have Level II window open for MBT and as many trader knows Oanda as a MM dont have Level II afaik.

It happen to me last week as well. MBT quote board froze. So I open Live Chat and ask what is going on with the quote. I didnt have a chance to record the event. So I have no proof to show the support guys at Live Chat.

Both quote are from Live account. I put it side by side just to compare the accuracy between an ECN and MM.
  • #2,732
  • Dec 1, 2008 5:58pm Dec 1, 2008 5:58pm
Quoting IndyTrader
Now can we ignore the idiots and will someone get back to showing me the size on Oanda?
No displayed size. They claim (as some other MMs do) 10M available per quote, but I really wouldn't want to put that to the test.
  • #2,733
  • Dec 2, 2008 3:10am Dec 2, 2008 3:10am
fine i get the thing abt spreads being high but what is mb trading doing about maintaining the spreads they are really getting out of hand sometime back Gbp/Usd spreads were 5 pips and add to that the commission costs!!!!
Pls reply Justin
  • #2,734
  • Dec 2, 2008 5:08am Dec 2, 2008 5:08am
Quoting htbreaker
MB Trading vs. ATC Brokers (with MT4) and vs. Dukascopy.

For example USD/JPY:

http://img219.imageshack.us/img219/5302/mbtsucksru5.png



You will see it all day long. MBT screw their clients.

A picture tells 1000 words.
OK, I checked it out and I must say your post is somewhat misleading. At times (emphasis on at times) ATC had better spreads, sometimes 1.5, sometimes .5. However, at times MBT had the better spreads by the same margin. It's all relative. ATC does not have better spreads consistently as your post suggests. Their commission is lower, $8 flat rate on one standard lot. However, I like the MBT platform and there are more types of orders available. I guess it's a matter of opinion, but don't try to make it out like MBT is cheating the clients on the spreads. They are not.
  • #2,735
  • Dec 2, 2008 8:21am Dec 2, 2008 8:21am
Quoting htbreaker
Interesting.

ATC offers mostly 1 - 2 pips better spreads even in the major pairs.

Also they show every sub-pip movement. MBT doesn't.
Your post is simply not true. MBT does show sub-pip movement. It seems pretty clear that you haven't seen their platform. Also, I said I checked and sometimes ATC has better spreads, sometimes MBT does. Don't present it as so superior when it's not.
  • #2,736
  • Dec 2, 2008 8:33am Dec 2, 2008 8:33am
HT has obviously got an axe to grind. Every single post he has made is fanatically against MB, never made a comment in any forum other than broker discussion. Either he was abused by someone with the initials MB as a child or he has something to gain from traders taking their money to Hotspot and ATC. Not really doing a great job of it either. It's pathetic really.
  • #2,737
  • Dec 2, 2008 8:38am Dec 2, 2008 8:38am
Quoting birdt
HT has obviously got an axe to grind. Every single post he has made is fanatically against MB, never made a comment in any forum other than broker discussion. Either he was abused by someone with the initials MB as a child or he has something to gain from traders taking their money to Hotspot and ATC. Not really doing a great job of it either. It's pathetic really.
Yeah, I was thinking the same thing. I like MB. I haven't had any problems and found the customer service to be exceptional. I know everyone says the commission is high, but I would rather pay it for a good broker than go with a newer one that may or may not be as good.
  • #2,738
  • Dec 2, 2008 9:42am Dec 2, 2008 9:42am
Quoting birdt
Persistent trolling in this forum does seem suspicious to me, any serious trader has better things to do with their time.
That's the best way I've ever heard that phrased.

Indy
  • #2,739
  • Dec 2, 2008 9:44am Dec 2, 2008 9:44am
Quoting torroray
Indy,

Sorry for the delay.

I'm just capturing what I see and post it here. I didnt have Level II window open for MBT and as many trader knows Oanda as a MM dont have Level II afaik.

It happen to me last week as well. MBT quote board froze. So I open Live Chat and ask what is going on with the quote. I didnt have a chance to record the event. So I have no proof to show the support guys at Live Chat.

Both quote are from Live account. I put it side by side just to compare the accuracy between an ECN and MM.
I didn't realize you were trying to show a frozen board. I get crossed quotes between the banks and zero spreads all the time on MBT, which is what I thought you were showing. So Oanda doesn't show their size, eh? Well, maybe that's why I never looked into them seriously.
  • #2,740
  • Dec 2, 2008 9:47am Dec 2, 2008 9:47am
Quoting htbreaker
Interesting.

ATC offers mostly 1 - 2 pips better spreads even in the major pairs.

Also they show every sub-pip movement. MBT doesn't.
Dude, if you are going to troll-bash a broker, at least try to keep your statements somewhat in reality. MBT shows EXACTLY every sub-pip movement. If the quote is 1.5525 by 1.5527 on GBPUSD and I put in an order to buy at 1.55251, my order reflects immediately. Stop lying and go away. It's getting old.
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