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MB Trading Futures - Introduction

  • #3,421
  • Apr 22, 2009 5:20pm Apr 22, 2009 5:20pm
Should you be trading at work? ...hmm. It's OK I won't tell your boss...I used to do the same.


Quoting smittens4212
That's fine, good to hear progress is being made. I was devastated when I couldn't trade on the EFX web navigator anymore, as that was the only way I could trade during my full-time work hours
  • #3,422
  • Apr 22, 2009 5:33pm Apr 22, 2009 5:33pm
Quoting Trader KGB
GAIN Capital is STP, not ECN, but their spreads are somewhat comparable.

Still a valid point about commissions, specifically vs InteractiveBrokers (arguably MBT's primary competitor now that Hotspot was bought out).
Correct, Gain will take the other side of your trade when they don't have the liquidity from one of their providers to pass the order off to.
  • #3,423
  • Apr 22, 2009 6:48pm Apr 22, 2009 6:48pm
Justin, when you make MetaTrader available for live trading will Navigator still be available? It works better for me as far as trade entry but I love MT's charting package. Sorry if this is redundant, there's a lot to wade through.
  • #3,424
  • Apr 22, 2009 6:54pm Apr 22, 2009 6:54pm
Quoting Max Thrax
Justin, when you make MetaTrader available for live trading will Navigator still be available? It works better for me as far as trade entry but I love MT's charting package. Sorry if this is redundant, there's a lot to wade through.
If I understand correctly Navigator will still be available when MT4 goes live (Also MT4 is still in Beta for an undisclosed further time period)
  • #3,425
  • Apr 22, 2009 7:53pm Apr 22, 2009 7:53pm
Justin, any ETA of Navigator Pro to the other live users?
  • #3,426
  • Apr 23, 2009 5:29am Apr 23, 2009 5:29am
Justin,

Very interesting development to Navigator Pro. How do I download it. I'm trading live and getting tired using other people chart.

What is the smallest time frame on the chart? Does Navigator Pro have tick chart?
  • #3,427
  • Apr 23, 2009 11:25am Apr 23, 2009 11:25am
Quoting Fulltime247
If I understand correctly Navigator will still be available when MT4 goes live (Also MT4 is still in Beta for an undisclosed further time period)
Correct, the MBT Navigator will remain as our proprietary trading platform for Stocks, Futures, Options and Forex.
  • #3,428
  • Apr 24, 2009 10:32pm Apr 24, 2009 10:32pm
Hi Justin, I'm thinking of opening a micro account for strategy testing.

You said earlier that it's possible to trade 0.1 lots, effectively making it a micro, what's the smallest lot size possible? I'm asking because to the best of my knowledge, for some pairs like USDCHF, 1 pip = $10.

I was hoping to be able to trade in lot sizes such that 1 pip = $0.1, regardless of the pair.

Thanks
  • #3,429
  • Apr 25, 2009 12:15am Apr 25, 2009 12:15am
Quoting pricey
Hi Justin, I'm thinking of opening a micro account for strategy testing.

You said earlier that it's possible to trade 0.1 lots, effectively making it a micro, what's the smallest lot size possible? I'm asking because to the best of my knowledge, for some pairs like USDCHF, 1 pip = $10.

I was hoping to be able to trade in lot sizes such that 1 pip = $0.1, regardless of the pair.

Thanks
Hi pricey,

Since the smallest unit size is 1k regardless of the pair, you can trade 1 pip = $0.1.
  • #3,430
  • Edited 2:50pm Apr 25, 2009 12:28am | Edited 2:50pm
Hi Justin,

Is it possible to add a "start trailing stop @" order to navigator for the next version.

Like

Go short in EUR/USD at 1.33. Deciding to take profit @ 1.31 , 200pips.

But instead of putting a "limit buy" order @ 1.31 , I'd like to put a trailing stop, +0.20 (or other) pips, when the market price hits 1.31.

If the price goes lower than 1.31, my traling stop follows it like a shadow.
The worst case, price goes higher after hitting 1.31 and I'll take profit @1.3120

Thanks in advance.
  • #3,431
  • Apr 25, 2009 12:18pm Apr 25, 2009 12:18pm
Justin,

I'm considering opening an account at MB, and have a few questions. I'll post them here, since they may benefit others.

Volume (tick) data... Is this data based on MBT clients only, or is it from a larger source?

Ninjatrader, MT4, and Navigator... I prefer to use NT for order entry, and MT4 for charting. Could I do this? I noticed that on the application for a new account it asks me whether I'll be using Navigator, or MT4, and warns me that I will not be able to change my mind? What is this about?

Is there an order desk that I could call in an emergency?

Rebate Programs... Do you still participate in programs such as CashBackForex? I've heard about problems with this, and wondered if you have discontinued your participation.

Esignal... Do Mb Trading clients receive any discounts from esignal?


Thanks in advance.
  • #3,432
  • Apr 26, 2009 1:45pm Apr 26, 2009 1:45pm
To jleblang:

When will MB Trading accept accounts in EUR?

thanks
  • #3,433
  • Apr 27, 2009 10:22am Apr 27, 2009 10:22am
Quoting Eclipse
To jleblang:

When will MB Trading accept accounts in EUR?

thanks
This is what I am dying to know...I am quite satisfied with MBT overall, but am on the verge of transferring my funds elsewhere since I am extremely uncomfortable having dollars. It cannot be that hard to implement...I dont care what currency my profit and loss etc. is displayed in on the navigator, I'm fine with that being in dollars... no need to reprogram anything like that. I would just like my actual funds to be held in something other than dollars.
  • #3,434
  • Apr 27, 2009 10:50am Apr 27, 2009 10:50am
Quoting babatot
Justin,

I'm considering opening an account at MB, and have a few questions.

I noticed that on the application for a new account it asks me whether I'll be using Navigator, or MT4, and warns me that I will not be able to change my mind? What is this about?

Is there an order desk that I could call in an emergency?

I just opened an account there and I do not recall this question.

Have you received any feedback from mtb on this??

and to answer your question about contacting them by phone in an emergency:

Yes they have a Forex Trade desk you can reach by phone, if you open an account they will provide that number along with other contact info as well.
  • #3,435
  • Apr 27, 2009 11:44am Apr 27, 2009 11:44am
Quoting Eclipse
To jleblang:

When will MB Trading accept accounts in EUR?

thanks
Me too. I went live with MB around three weeks ago and the only thing I wish they had is accounts in Euro.
  • #3,436
  • Edited 12:21pm Apr 27, 2009 11:50am | Edited 12:21pm
This is the answer I got from them today when I asked if I would be able to trade using their MT4 when it was made avalible for live trade.

This is a direct quote from their email response to me.

"Yes. But you will have to open an additional MT4 trading account."

I then asked if you can open a new mt4 account by transferring funds from an existing MBT account to the new mt4 account.

quote:

"You will be able to internally transfer the funds, yes."

Sounds workable to me.

(saying goodbye to the dealing desk brokers.)
  • #3,437
  • Apr 27, 2009 12:10pm Apr 27, 2009 12:10pm
Quoting grandaevus
Hi pricey,

Since the smallest unit size is 1k regardless of the pair, you can trade 1 pip = $0.1.
Correct, you can place trades as low as .1 lot or 1000 currency units. Minimum deposit to open an account is $400.
  • #3,438
  • Apr 27, 2009 12:28pm Apr 27, 2009 12:28pm
Quoting grandaevus
Hi Justin,

Is it possible to add a "start trailing stop @" order to navigator for the next version.

Like

Go short in EUR/USD at 1.33. Deciding to take profit @ 1.31 , 200pips.

But instead of putting a "limit buy" order @ 1.31 , I'd like to put a trailing stop, +0.20 (or other) pips, when the market price hits 1.31.

If the price goes lower than 1.31, my traling stop follows it like a shadow.
The worst case, price goes higher after hitting 1.31 and I'll take profit @1.3120

Thanks in advance.
Hello grandaevus,

We actually have what you are looking for already built into the TTO window in the MBT Navigator. I'm attaching a screen shot below for you.

To place the order you are looking for you, your trade must have already been triggered. Once the trade is active, you can select TTO by changing your template or in the drop down list of order types.

Once the TTO window is up, if you are short you'll select 'cover' and you'll have the option to add a 'Trailing Offset'.

In my example attached, I was short EUR/USD -200k at 1.3055.

 

  1. I set my Stop Loss to 1.3100.
  2. Checked Trailing Offset: .0020 (20 pip trail)
  3. Set Target Price at 1.2900.
  4. Hit Submit


Once (if) the price goes to 1.2900, instead of taking me out of the trade, the trailing stop will kick in and start trailing with 20 pips.

Let me know if you have any questions about this.

Attached Image (click to enlarge)
Click to Enlarge Name: Target with Trail.jpg Size: 91 KB
  • #3,439
  • Edited Apr 28, 2009 9:53am Apr 27, 2009 12:40pm | Edited Apr 28, 2009 9:53am
Quoting babatot
Justin,

Volume (tick) data......
Volume (tick) data... Is this data based on MBT clients only, or is it from a larger source?

Volume (tick) Data: This is from all liquidity and customers on the TDFX system only and represent data that is available for trading.

Ninjatrader, MT4, and Navigator... I prefer to use NT for order entry, and MT4 for charting. Could I do this? I noticed that on the application for a new account it asks me whether I'll be using Navigator, or MT4, and warns me that I will not be able to change my mind? What is this about?

If you prefer to execute through Ninja, that is fine. You can continue to use MT4 for your charting.

You'll still be able to trade on the Navigator or MT4, but the Navigator and MT4 require separate applications. So you would have to have two accounts in order to switch your trading between the platforms.

Is there an order desk that I could call in an emergency?

Yes. You may call 866.558.3342 24 hours a day for FX trade support.

Rebate Programs... Do you still participate in programs such as CashBackForex? I've heard about problems with this, and wondered if you have discontinued your participation.


First of all, let me make it clear that MB Trading does not provide CashBackForex (CBF) subscribers with the rebate. CBF receives compensation for its referral and made the decision to "kick back" a part of its compensation to the client for signing up with MB Trading.

Esignal... Do Mb Trading clients receive any discounts from esignal?

No.

Please let me know if you have any other questions.

EDIT: Babatot and all - I mistakenly confused CashBackForex for another group that we used to work with offering a similar deal. We do in fact have an active relationship with CBF, but as I stated before, we are not the ones providing the rebate to customers. I apologize for any confusion.
  • #3,440
  • Apr 27, 2009 12:42pm Apr 27, 2009 12:42pm
Quoting tommyd
This is the answer I got from them today when I asked if I would be able to trade using their MT4 when it was made avalible for live trade.

This is a direct quote from their email response to me.

[font=Arial][size=2][color=navy][color=navy][font=Arial]"Yes....
This is accurate. Thank you for your post.
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