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MB Trading Futures - Introduction

  • #541
  • Mar 22, 2007 10:07am Mar 22, 2007 10:07am
neoticker+efx=automatic trading +grid optimizer(perfect solution)
reliable solid backtesting with efx tick data no data feed needed.....
90/month ...http://www.forexfactory.com/images/icons/icon10.gif
  • #542
  • Mar 22, 2007 10:57am Mar 22, 2007 10:57am
Yes that works to some point, but whenever you close/restart NT or connect NT to another broker, there will be holes in the tickdata, because neither efx nor NT provide tick backfill. But for people whos NT/computer is online 24/7 it works.
I have set it up so that NT periodicaly gets the last day of ticks from esignal and saves it to diskcache.

Quoting profdr
neoticker+efx=automatic trading +grid optimizer(perfect solution)
reliable solid backtesting with efx tick data no data feed needed.....
90/month ...http://www.forexfactory.com/images/icons/icon10.gif
  • #543
  • Mar 22, 2007 4:18pm Mar 22, 2007 4:18pm
jleblang, whats the difference between EFX and MBT? Why should I go with EFX and not MBT? any difference in services or spread or commissions?
  • #544
  • Mar 23, 2007 4:26am Mar 23, 2007 4:26am
I was just wondering, Is order rejects common with EFX?
  • #545
  • Mar 23, 2007 9:08am Mar 23, 2007 9:08am
Quoting KillerKhan
jleblang, whats the difference between EFX and MBT? Why should I go with EFX and not MBT? any difference in services or spread or commissions?
EFX is the arm of MB that specializes in Forex. MB Trading offers all asset classes (stocks, options, futures, Forex) and thus offers software solutions that suit traders for all markets. EFX is set up to train people that are largely Forex-only traders.

• MB and EFX both use the same execution technology and pricing.

• Both have the same Help Desk for off-hours support.

• Both EFX and MB have the Navigator software as a front-end option.

• Only EFX has the Forex Pro software as a front-end option.

• Only EFX offers charting solutions through IntelliCharts with a 50% for live account holders.

• EFX’s daytime help desk and on-line tutorials are designed to help you learn how to use our platforms. We’ll spend as much time as possible walking you through how to trade on the system.

• Any upgrades to the overall execution platform that MB implements will also apply to EFX.

• EFX may add software upgrades, new front-end, or even advanced Forex-only order routing via our front ends that MB may never offer.

• It's been rumored we offer pretty great customer service as well

That’s pretty much the way to look at it.
  • #546
  • Mar 23, 2007 9:09am Mar 23, 2007 9:09am
Quoting Don4
I was just wondering, Is order rejects common with EFX?
Order rejects are actually very uncommon with EFX Group. We do not have the capability to requote an order; the only time you would receive a message rejecting an order would be outside of certain trading hours.

Regards,
  • #547
  • Mar 23, 2007 1:53pm Mar 23, 2007 1:53pm
Quoting jleblang
EFX is the arm of MB that specializes in Forex. MB Trading offers all asset classes (stocks, options, futures, Forex) and thus offers software solutions that suit traders for all markets. EFX is set up to train people that are largely Forex-only traders.

• MB and EFX both use the same execution technology and pricing.

• Both have the same Help Desk for off-hours support.

• Both EFX and MB have the Navigator software as a front-end option.

• Only EFX has the Forex Pro software as a front-end option.

• Only EFX offers charting solutions through IntelliCharts with a 50% for live account holders.

• EFX’s daytime help desk and on-line tutorials are designed to help you learn how to use our platforms. We’ll spend as much time as possible walking you through how to trade on the system.

• Any upgrades to the overall execution platform that MB implements will also apply to EFX.

• EFX may add software upgrades, new front-end, or even advanced Forex-only order routing via our front ends that MB may never offer.

• It's been rumored we offer pretty great customer service as well

That’s pretty much the way to look at it.
jleblang, thank you very much for quick and detailed response. I understand you guys donot allow hedging, I also understand orders can be any increment lots. Meaning your normal lot is 10K or 1Lot, but I can trade 0.1 or 0.01 or 0.23 etc.

Here is what I was wondering, would it be possible to use the API to auto trade with EFX?
Also can I open 2 accounts? 1 used for sells and other used for buys and use the API to keep track of both accounts at once?
Also if I wanted to shift funds from 1 account to the other can I do that with ease?
how long does it take to move funds within EFX accounts?
Whats the highest Leverage allowed? (sorry if this question has been asked already)
Whats the minimum capital required to open account wtih EFX? (sorry if this question has been asked already)
What is the commission you guys charge?

thanks again,
  • #548
  • Mar 24, 2007 5:14pm Mar 24, 2007 5:14pm
Just noticing that a couple of complaints regarding rollover interest being paid from brokers. It would make sense that a dealing desk broker, uses in house funds, would not take kindly to paying out interest.
So with EFXgroup cause you're the middle man to banks, that there should not be a problem with banks paying out the interest to those in a position to collect and likewise charge those who are long the currency's with the lower interest rate. Any observations that the above is correct?
  • #549
  • Edited 2:43pm Mar 25, 2007 2:33pm | Edited 2:43pm
I've been having a problem with the Demo account and was wondering if anybody else has experienced the same, but more importantly on the "live" account. Here's what's happening ...

Whenever I have open positions and the 15 minute server downtime happens (it doesn't seem to happen on the 5 minute scheduled downtimes, only the 15 minute ones that MBT schedules every day at 12:00 a.m. EST and when the server goes offline for the weekend), when the server goes back online, my positions' Basis changes.

Here's my screenshots ...

This following was taken from my .csv file found in the "C:\Program Files\EFX Group\Navigator\Logs" folder. It shows the original Basis price of positions bought/sold (I also mark my charts to indicate my Basis, thus was how I first noticed the discrepency):

http://leighswishingwell.com/efx/EFX_Original_Basis.jpg

This following was taken from my Positions window in EFX Navigator:

http://leighswishingwell.com/efx/EFX...ons_Window.jpg

As you can see, my Basis went from:

USD/JPY: 117.89 to 118.00 (11 pip difference)
EUR/USD: 1.3296 to 1.3318 (22 pip difference)

This has happened to me EVERYTIME I have open positions during this 15 minute/weekend server downtime.

I've opened a "live" account a week ago, however I have been really hesitant to fund it due to this glitch, because if it's the software, how am I to know it won't happen when I'm trading live?

I guess I need some peace-of-mind before funding my account that this hasn't/isn't happening to anybody else (especially, those trading "live").

Thanks for any feedback anybody can give.

Justin - I've already emailed you about this last week, but haven't heard yet heard of any fix for it. If it's not the software but rather the Demo server itself, would you be able to give me a new username/login to a different Demo server, in case there's some glitch with just the particular one I'm currently on? The whole reason for the Demo account, for me, is to test strategies, etc. before trading them with real money, but how can I test them when I can't get an accurate reading due to the data being changed? Please let me know what I need to do. Thanks!

On another note ... I love the Navigator, the ease of use of it, your customer service so far, so as soon as this little glitch is solved, I'll be a totally happy camper and will look forward to trading live
  • #550
  • Mar 25, 2007 2:55pm Mar 25, 2007 2:55pm
AFAIK this is because your open P/L is "marked to market" every night. Common practice in futures-trading when you hold overnight positions. Your position basically gets closed and reopened the next day, so you realize your open P/L and your new position basis is where the market is at that time. This doesnt have any negative impact to my knowing, but it is kinda redundant in FX-trading.
  • #551
  • Mar 25, 2007 3:47pm Mar 25, 2007 3:47pm
Quoting shrike
Your position basically gets closed and reopened the next day, so you realize your open P/L and your new position basis is where the market is at that time. This doesnt have any negative impact to my knowing, but it is kinda redundant in FX-trading.
I'm trading the FX (and a beginner at that ) but hmmmm, this still doesn't make sense to me, because here's my screenshot of the EUR/USD chart as of a few minutes ago:

http://leighswishingwell.com/efx/Chart.jpg

The yellow arrow shows where I got into the trade. The magenta line is the new Basis (1.3318) that got changed from my original one (1.3296). The red line is my stop loss. The timezone is not my timezone, but what the chart defaults for its timezone.

The market was never at 1.3318 since closing on Friday nor opening today. Am I still missing something? Again, I'm new at this, so I'm trying to understand what you're saying in relation to what the data is saying.
  • #552
  • Mar 25, 2007 6:12pm Mar 25, 2007 6:12pm
Premium Rates

USD/JPY Sell -8.66% Buy 2.73%
EUR/USD Sell 0.87% Buy -2.90%

Quote
Rollover involves exchanging the expiring position for a position expiring the following settlement date.The positions being exchanged are not valued at the same price. If a trader is long the currency bearing the higher interest rate, the position being "sold" is worth more than the position being acquired.
The reverse is also true; if a trader is short the currency bearing the higher interest rate, the trader is acquiring a position worth more than the one being "sold." The amount of the difference varies based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day.
  • #553
  • Mar 25, 2007 6:29pm Mar 25, 2007 6:29pm
Hi leighsww,

I guess you are using data feed from a MT4 broker.
This data feed is different from EFX/MBT, so you may see different price levels.

Quoting leighsww
I'm trading the FX (and a beginner at that ) but hmmmm, this still doesn't make sense to me, because here's my screenshot of the EUR/USD chart as of a few minutes ago:

http://leighswishingwell.com/efx/Chart.jpg

The yellow arrow shows where I got into the trade. The magenta line is the new Basis (1.3318) that got changed from my original one (1.3296). The red line is my stop loss. The timezone is not my timezone, but what the chart defaults for its timezone.

The market was never at 1.3318 since closing on Friday nor opening today. Am I still missing something? Again, I'm new at this, so I'm trying to understand what you're saying in relation to what the data is saying.
Forex is my business
  • #554
  • Mar 26, 2007 1:31am Mar 26, 2007 1:31am
Quoting KillerKhan
jleblang, thank you very much for quick and detailed response. I understand you guys donot allow hedging, I also understand orders can be any increment lots. Meaning your normal lot is 10K or 1Lot, but I can trade 0.1 or 0.01 or 0.23 etc.

Here is what I was wondering, would it be possible to use the API to auto trade with EFX?
Also can I open 2 accounts? 1 used for sells and other used for buys and use the API to keep track of both accounts at once?
Also if I wanted to shift funds from 1 account to the other can I do that with ease?
how long does it take to move funds within EFX accounts?
Whats the highest Leverage allowed? (sorry if this question has been asked already)
Whats the minimum capital required to open account wtih EFX? (sorry if this question has been asked already)
What is the commission you guys charge?

thanks again,
read it here www.efxgroup.com
  • #555
  • Mar 26, 2007 8:05am Mar 26, 2007 8:05am
I have a live acc. with MB forex, and have downloaded the EFX navigator, which is the same except for the name.. I downloaded the Forex Pro client to try the interface, but the Box is compressed and I am not able to adjust the size to read all of its content. I use wide screens set at 1680x1050. How do I make the box readable .
Thank you
  • #556
  • Edited 1:18pm Mar 26, 2007 1:04pm | Edited 1:18pm
Quoting incomeideas
Hi leighsww,

I guess you are using data feed from a MT4 broker.
This data feed is different from EFX/MBT, so you may see different price levels.
Hi incomeideas,

I just use MT4 for the charting (marking trendlines, support and resistance, indicators, etc.), but I realize that the feeds will be slightly off, however I've been Demo trading for a couple weeks now and the difference in the MT4 chart and EFX Navigator data feeds aren't normally off by more than only 2 - 4 pips, so I wouldn't imagine that the feeds are what's affecting the 11 - 22 pip difference. Also, I had looked at the Navigator Level II data and the "High:" for that day hadn't reached that 1.33 level yet (it was still at the 1.32 level).

----------

I don't believe it's "rollovers" either because according to the EFX website: http://www.efxgroup.com/rollover-premium-rates.html

Quote
Rollover automatically occurs each evening between 4:58 and 5:06 p.m. EST (Monday through Thursday).
Uncannily, that's NOT the downtime that changes my Basis. That particular server downtime (5 minutes offline) leaves my Basis intact (so the rollover can't be the cause unless they are doing another rollover during the 12:00 a.m. midnight (15 minutes offline) downtime and the weekends, but the site clearly states the exact time the rollovers occur. Again, it's only the 12:00 a.m. (midnight EST) or when the server is down for the weekend, that changes my Basis which the rollovers shouldn't affect.

When I signed up for a live account, the welcome letter I received from MBT said this ...

Quote
"our servers are offline starting at 12:00 a.m. EST for approximately 15 minutes"
... so I mentioned "15 minutes" in my first post instead of stating the actual time, so sorry to have not been specific regarding that.

Anyway, last night's 12:00 midnight EST downtime produced another freaky occurrence, so I think at this point I can confidently say that there's a glitch, lol

This time the Basis stayed intact, but a trade was entered into my Positions window that I didn't put there. I hadn't entered any new trades (nor did I have any pending/open orders for EUR/USD), but one appeared when the server went back online.

Last Thursday, I had uninstalled (also deleted all traces of folder/files on my computer, did a Registry clean and reboot) and then reinstalled a fresh copy of the Navigator 12b software, but since the same thing is happening (amongst other things like this new phantom position entry, lol), I'm thinking that maybe I'm just on a Demo server (or some configs attached to my specific login/account settings) that has a major glitch with it or something.

Anyway, thanks for the responses . At this point, since nobody else is having the same problem, it's probably an isolated incident with just me, so I'll wait for Justin to respond as to whether they can assign me a new login/demo server/etc.
  • #557
  • Mar 26, 2007 2:19pm Mar 26, 2007 2:19pm
Quoting seeit
I have a live acc. with MB forex, and have downloaded the EFX navigator, which is the same except for the name.. I downloaded the Forex Pro client to try the interface, but the Box is compressed and I am not able to adjust the size to read all of its content. I use wide screens set at 1680x1050. How do I make the box readable .
Thank you
Hi Seeit,

Try adjusting your DPI settings to 96DPI.

FYI - The Pro was built for EFX clients, and live MBTF clients at this time are unable to use the program.

Regards,
  • #558
  • Mar 26, 2007 3:29pm Mar 26, 2007 3:29pm
Update: I've removed my screenshots on my previous posts, since Justin has sent me a new demo account. Hopefully, that'll take care of it (we shall see after tonight's downtime)

Thanks again for the responses
  • #559
  • Mar 27, 2007 8:01pm Mar 27, 2007 8:01pm
For all those who are thinking of opening up 2 accounts and having them linked together with efx or mbt be sure u check (acct,sym)for all windows before u make a live trade. I am telling you this to make u aware of it so that what happened to me doesnt happen to you.This is not a slam on efx in anyway, I hold myself responsable for not being more educated on their platform before trading live!!
  • #560
  • Mar 28, 2007 6:09am Mar 28, 2007 6:09am
Hi Justin,

I am demoying right now and considering opening live acc with you but I have a question for you

on your orderbook, I have noticed that you do not provide bid, ask, and spread on the tool bar as you do for others such as position, etc. Can you ad those options so when someone places an order with some conditions such as limit, stop, ect., he or she can see what was the bid, ask and spread when the order was executed

Thanks

Doura
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