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MB Trading Futures - Introduction

  • #3,001
  • Jan 20, 2009 9:39pm Jan 20, 2009 9:39pm
Quoting sunseeker980
I like to hear from thoses who are Beta testering the Mt4. How are things coming alone? Are you using a Demo or real acct? Do you think they will be up and rolling by the end of 1Q?
I'm using a demo account on the charts but have a live account on Navigator. It's nice to have the charts and prices spot on, but there are some price differences, which is to be expected on beta testing. The only real problem I have is that certain charts have price spikes that I don't see on any other charts. And it changes everyday. Today there was a spike on the GBP/USD chart. Yesterday was the AUD/USD chart. This throws off technical indicators and makes the chart useless to me for at least one day. Another issue is that they just stop working sometimes. You stay connected, but the prices just stop. I understand it's beta testing and expected this, so I have other charts to use until it's up and running.
  • #3,002
  • Edited 7:12am Jan 21, 2009 4:09am | Edited 7:12am
Here's a question about MBT and orders on Navigator:

Why is is that TTO orders are aligned by default to trade in the direction of any positions you have in the market, when I assume the main point in utilising a TTO would be set a STOP LOSS and a STOP PROFIT which cancel eachother out?

For example: I have a long on EURUSD, I wish to set a profit target and a stop loss, so I click on TTO, make sure I have the right position size to match my long order, fill in my high and low values. But every time I have to remember to click on the BUY/SELL button to toggle so I am not adding to my position when I want to be exiting it. I have done it a couple of times and rarely has it worked out to my benefit. Yep, it is my fault and I have been using MBT long enough now to routinely change it but if you're taking 5-10 trades a day constantly managing risk etc., you're going to forget to change it every now and then.

My assumption is that TTO's are used primarily for setting STOP LOSS and STOP PROFIT orders (but I stand to be corrected), why doesn't the set-up in Navigator reflect this?
  • #3,003
  • Jan 21, 2009 7:05am Jan 21, 2009 7:05am
Navigator has a few layout features that I question.

The buy button is on the left and the sell button is on the right--this is the opposite of how dealing rates are displayed, with the bid on the left, and the ask on the right.

The FX-Board where the rates are displayed have 6 figures to the right of the decimal point. Where 5 is the new standard , displaying a tenth of a pip. The sixth place is not used and the zero is just sitting there.

The most telling is the fact that they do not display the spread, except for a flashing color bar, but they show the changing spread with a display graph on their home page ..leaving me to drag a drop the compressed graph next to the navagator.

My conclusion is that it was designed this way for people to make mistakes during stressfull trading times.

If not , then not enough thought has gone in to match common sense protacol.
  • #3,004
  • Jan 21, 2009 9:19am Jan 21, 2009 9:19am
I agree Birdt. That's a major pain in the butt. The TTO should know that most traders are setting stop losses and profit targets!



Quoting birdt
Here's a question about MBT and orders on Navigator:

Why is is that TTO orders are aligned by default to trade in the direction of any positions you have in the market, when I assume the main point in utilising a TTO would be set a STOP LOSS and a STOP PROFIT which cancel eachother out?

For example:...
  • #3,005
  • Jan 21, 2009 9:58am Jan 21, 2009 9:58am
Quoting birdt
Here's a question about MBT and orders on Navigator:

Why is is that TTO orders are aligned by default to trade in the direction of any positions you have in the market, when I assume the main point in utilising a TTO would be set a STOP LOSS and a STOP PROFIT which cancel eachother out?

For example:...
The basis of our system is not to place limitations on which direction customers want to trade. While the primary use of the TTO is exactly what you said (having T/P and S/L for an existing position), that isn’t the ONLY possible use. Many traders look to add to positions on pullbacks or breakouts. If the TTO only had a close button (so it always went against the net position direction of your position in that symbol), then traders would not be able to use it at all once they had a position to do something in the same direction. Remember that the basis of an ECN system is that we are “order”-based and not “position”-based. We don’t keep two long positions on the same pair separated. You can place as many orders in any direction as close or far away from the market as you want without limitation, and that requires that the TTO be open to go in either direction.

I hope that helps.
  • #3,006
  • Jan 21, 2009 10:11am Jan 21, 2009 10:11am
Quoting jleblang
The basis of our system is not to place limitations on which direction customers want to trade. While the primary use of the TTO is exactly what you said (having T/P and S/L for an existing position), that isn’t the ONLY possible use. Many traders look to add to positions on pullbacks or breakouts. If the TTO only had a close button (so it always went against the net position direction of your position in that symbol), then traders would not be able to use it at all once they had a position to do something in the same direction. Remember that the...
I feel you, but I reckon, and my reckoning is based on nothing else but pure supposition and thus, quite fallible, that the TTO function is primarily used for stops, so in the interest of saving energy Navigator should incorporate this to be the default setting - all those clicks add up you know. Think of the polar bears.
  • #3,007
  • Jan 22, 2009 12:42am Jan 22, 2009 12:42am
Quoting birdt
I feel you, but I reckon, and my reckoning is based on nothing else but pure supposition and thus, quite fallible, that the TTO function is primarily used for stops, so in the interest of saving energy Navigator should incorporate this to be the default setting - all those clicks add up you know. Think of the polar bears.
birdt,

I appreciate the feedback and I do understand your point of view. No promises of course on changes being made, but I'll write up something for tech and see if I can't at least explore a possible solution.
  • #3,008
  • Jan 22, 2009 6:04am Jan 22, 2009 6:04am
Excellent monsieur leblang, appreciate it. It's all we can ask for, an ear that you can lend us and a shoulder to cry on. Perhaps the majority are happy with the way it is.
  • #3,009
  • Jan 22, 2009 3:18pm Jan 22, 2009 3:18pm
Quoting birdt
Excellent monsieur leblang, appreciate it. It's all we can ask for, an ear that you can lend us and a shoulder to cry on. Perhaps the majority are happy with the way it is.
  • #3,010
  • Jan 22, 2009 8:04pm Jan 22, 2009 8:04pm
I agree...that's all we can ask for.


Quoting birdt
Excellent monsieur leblang, appreciate it. It's all we can ask for, an ear that you can lend us and a shoulder to cry on. Perhaps the majority are happy with the way it is.
  • #3,011
  • Jan 23, 2009 12:36am Jan 23, 2009 12:36am
Quoting jleblang
birdt,

I appreciate the feedback and I do understand your point of view. No promises of course on changes being made, but I'll write up something for tech and see if I can't at least explore a possible solution.
What's wrong with making Limit + TTO your default setting?!
Attached Image
  • #3,012
  • Jan 23, 2009 9:58am Jan 23, 2009 9:58am
Hi Justin

I have been trying out your demo Navigator for the last few days and have looked at the online tutorials as well, but I still have questions concerning using “single-click" type of order entry to enter into and exit from positions during fast moving markets with only a single click.

I can obviously do this by just using market orders to buy and sell, and by having the confirmation window turned off.

However, what I want to determine is if I can use single-click dealing and still have a protective stop entered at the same time without additional clicks. I have been able to use Market + Trailing Stop, with confirmation turned off to enter into and exit from a position on a single-click basis. However, it still leaves the trailing stops in the open orders, and then I have to go and cancel them after I exit from the position. That is about the closest I have gotten to single click dealing with stops in place. I tried the same thing for Market + TTO but the confirmation window still comes up even though I have turned it off in Preferences.

Also, I haven’t found an order combo that lets me place a market order with a simple fixed stop underneath it. Is there combo that will come close to achieving this?

Also, your online tutorials do not address some of the order types, i.e. Reserve Discretionary, Pegged.

On another topic, I had the Price vs Speed bar turned up all the way to maximum speed and unless my eyes deceived me, it looks like I was filled at an adverse market price spike that didn’t even appear on the screen. Is that indeed possible with your system? Could prices be moving so fast that not all the fluctuations appear on the screen, and could fills occur at those unseen prices?

Richard
  • #3,013
  • Jan 23, 2009 10:01am Jan 23, 2009 10:01am
Quoting charlinks
What's wrong with making Limit + TTO your default setting?!
Client might not want to allows have a TTO - my favorite is to keep the TTO window attached to the positions window at all times.
Attached Image (click to enlarge)
Click to Enlarge Name: TTO with Positions Window.jpg Size: 107 KB
  • #3,014
  • Jan 25, 2009 9:20am Jan 25, 2009 9:20am
how will i know when your metatrader demo will be available
  • #3,015
  • Jan 25, 2009 12:19pm Jan 25, 2009 12:19pm
Justin, with the new $20 million capital requirement going into effect in the months ahead.. what are the plans for MB Trading?


MB Trading $14,664,000
lowest draw down possible please.
  • #3,016
  • Jan 25, 2009 12:24pm Jan 25, 2009 12:24pm
Quoting jleblang
Client might not want to allows have a TTO - my favorite is to keep the TTO window attached to the positions window at all times.

And how do you attach the TTO window to the Positions Window?
  • #3,017
  • Jan 25, 2009 3:37pm Jan 25, 2009 3:37pm
Quoting sometospend
how will i know when your metatrader demo will be available
Metatrader 4 is already available in Demo and has been for a couple of weeks. Please contact MBT University to get a username and password.
  • #3,018
  • Jan 25, 2009 3:41pm Jan 25, 2009 3:41pm
Quoting chuchu
And how do you attach the TTO window to the Positions Window?
Right click in the positions window and select "Show Order Entry (O/E)".

A standard O/E screen should appear.

Right click in the O/E screen and select 'Template' and 'TTO'.

I suggest saving your layout this way.
Attached Image (click to enlarge)
Click to Enlarge Name: TTO Right Click.jpg Size: 61 KB
  • #3,019
  • Edited 3:56pm Jan 25, 2009 3:45pm | Edited 3:56pm
Quoting ehrek
Justin, with the new $20 million capital requirement going into effect in the months ahead.. what are the plans for MB Trading?


MB Trading $14,664,000
ehrek,

Same as when they moved the net cap from $1.5 million to $5 million last year. We said we’d show the proper funds when the due date arrived, and then we did. Remember that MB Trading Futures is part of MB Trading, which has several divisions. Showing a larger net capital is just a function of redirecting funds, but we don’t see the purpose of doing it until it is required, as the funds can’t be used for anything once we do. We have always met regulatory net capital requirements and will continue to do so. In addition, keep in mind that since we don’t hold internal positions (because we don’t run a desk), we also don’t have the same type of risk profile that all of the desks show. Your orders are passed directly to banks, and we merely clear the trades. The largest, most capitalized firm out there could still get in trouble if their inventory positions got too heavy against them and then the market spiked. Fortunately for them, most of the time, 50% of customers are going one way and 50% are going the other way. But what happens if 80% of customers go long EURUSD and the firm ends up with a big short position against that and the EURUSD runs up? That’s the risk of a desk, and that’s why the requirements are there.
  • #3,020
  • Jan 25, 2009 3:45pm Jan 25, 2009 3:45pm
Hi Justin,

I could not use Navigotor from my work I think it could be due to corporate firewall settings, is there any thing else I can use other than waiting for MT4 to be released for all?
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