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MB Trading Futures - Introduction

  • #621
  • Apr 16, 2007 5:39pm Apr 16, 2007 5:39pm
Quoting Don4
Did anyone else notice any unusual large spikes yesterday around 2:30 pm eastern time with EFX IntelliCharts.
don, can u please describe the spikes...
  • #622
  • Apr 17, 2007 10:46am Apr 17, 2007 10:46am
do most of u that use limit orders on efx feel "safe" in case of catastrophes?
  • #623
  • Apr 17, 2007 12:11pm Apr 17, 2007 12:11pm
Quoting sp123
do most of u that use limit orders on efx feel "safe" in case of catastrophes?
For a protective stop-loss order you would use a stop order and NOT a limit order. In case of a catastrophic event the execution of a stop-order can be anywhere, as they are subject to slippage..
I suggest you read their FAQ/docs about ordertypes..
  • #624
  • Apr 17, 2007 12:23pm Apr 17, 2007 12:23pm
Quoting shrike
For a protective stop-loss order you would use a stop order and NOT a limit order. In case of a catastrophic event the execution of a stop-order can be anywhere, as they are subject to slippage..
I suggest you read their FAQ/docs about ordertypes..
yeah but the spread could be huge and and the stop loss executed 200 pips away form u'r market stop loss..... if the spreads widen a lot, and u have a stop limit order, u won't get burned bec only spreads moved, but price didn't move to u'r stop limit order...only if price move through u get in trouble... that's my concern....
  • #625
  • Apr 17, 2007 12:50pm Apr 17, 2007 12:50pm
Quoting sp123
yeah but the spread could be huge and and the stop loss executed 200 pips away form u'r market stop loss..... if the spreads widen a lot, and u have a stop limit order, u won't get burned bec only spreads moved, but price didn't move to u'r stop limit order...only if price move through u get in trouble... that's my concern....
There is a bid-price and an ask-price, ask-price minus bid-price constitutes the spread. There is no other price that would trigger an order of any kind.

'fraid the risk of slippage for protecive orders during an catastophic event is something you(and any other trader in any other instrument) will have to live with. If you use a stop-limit order, it might not take you out of your position at all if you dont get filled at your specified limit-price or better, while your position continues to run against you.
  • #626
  • Apr 17, 2007 12:53pm Apr 17, 2007 12:53pm
Quoting shrike
There is a bid-price and an ask-price, ask-price minus bid-price constitutes the spread. There is no other price that would trigger an order of any kind.

'fraid the risk of slippage for protecive orders during an catastophic event is something you(and any other trader in any other instrument) will have to live with. If you use a stop-limit order, it might not take you out of your position at all if you dont get filled at your specified limit-price or better, while your position continues to run against you.
i really just want to know if there is more of a risk of catastrophic failure using ecns...
  • #627
  • Apr 18, 2007 12:31pm Apr 18, 2007 12:31pm
Does anyone have any unusual problems on demo today?
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #628
  • Apr 18, 2007 4:40pm Apr 18, 2007 4:40pm
Quoting shrike
Justin: why do unfilled, pending Limit-Orders use up margin? When i am in a position, i usually have a stop-loss order (this doesnt seem to use up margin) and a limit-order as target in (when i am in a long position, a limit-sell). This margin-policy basically cuts my buying power in half.

Its not a big problem, since i dont use that much leverage, it just doesnt make much sense to me, since such a target order doesnt add any risk to the account.
Hi Shrike,
Sorry I over looked this post the last two days.

Unfilled pending orders (in general), this does not include Stop Loss and Target prices will use up margin so that the money in your account is reserved for when that price is hit and your pending order goes live.

Think about it this way....you have a $5000 account and have used $3500 for your current position. Now you place an order to go long 30 lots at a future price on the EUR, once the target price is hit you'll need at minimum $3000 dollars to place that trade, but you only have $1500 available, how will the trade fill?

Can't fill a pending order if the funds aren't there.

Again this does not pretain to pending stop losses and target price as that is simply to offset your current long or short position not open a new trade.
  • #629
  • Apr 18, 2007 7:56pm Apr 18, 2007 7:56pm
Hi Justin,

Calculating margin on pending orders is an issue if you have an entry to buy on stop and another entry to sell on stop for the same currency.

This doubles the margin required in your account. Although it is impossible to be long and short at the same time.

This problem would be solved if margin was calculated on open positions and not pending orders.

Regards

Mark
  • #630
  • Apr 19, 2007 10:27am Apr 19, 2007 10:27am
Quoting BigBadBull
Hi Justin,

Calculating margin on pending orders is an issue if you have an entry to buy on stop and another entry to sell on stop for the same currency.

This doubles the margin required in your account. Although it is impossible to be long and short at the same time.

This problem would be solved if margin was calculated on open positions and not pending orders.

Regards

Mark
Yes, but if the money was never reserved for the trade then you might not get filled on either position at all. Remember, though it is not possible for you to be long and short at the same time, it is possible for both your long and short position to get filled offsetting one another.
  • #631
  • Apr 19, 2007 4:34pm Apr 19, 2007 4:34pm
Justin,
If you guys can, could you please fix something what going on with Demo for the past 3 days. I understand that it is not your first priority, but it will be very nice if Demo will work properly .

Thanks

Andrey
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #632
  • Apr 20, 2007 1:38pm Apr 20, 2007 1:38pm
Quoting Andy12
Justin,
If you guys can, could you please fix something what going on with Demo for the past 3 days. I understand that it is not your first priority, but it will be very nice if Demo will work properly .

Thanks

Andrey
Andrey ~

We're working on it....I'm not exactly sure what the issue is, but I know operations is all over it.

Thank you for your patience in the matter.
  • #633
  • Apr 20, 2007 1:47pm Apr 20, 2007 1:47pm
Quoting jleblang
Andrey ~

We're working on it....I'm not exactly sure what the issue is, but I know operations is all over it.

Thank you for your patience in the matter.
Just as a matter of courtesy, I would like to point out that I was originally attracted to EFX for various reasons but was put off by the unreliability of the demo platform (about 2 months ago) I have now opened an account with another broker. I wonder how many of your potential clients have been put off by this.

Regards
Gone to a better place
  • #634
  • Apr 20, 2007 2:39pm Apr 20, 2007 2:39pm
Quoting smikester
Just as a matter of courtesy, I would like to point out that I was originally attracted to EFX for various reasons but was put off by the unreliability of the demo platform (about 2 months ago) I have now opened an account with another broker. I wonder how many of your potential clients have been put off by this.

Regards
Wait - you didn't open a live account with us because our demo platform (which doesn't make you money) wasn't reliable? I understand a demo is important, but its for learning how to set up the platform and getting comfortable with the use of the different order types and that’s about all.

I've said this many times...traders should never rely on a brokers demo as I know many brokers offer one thing via demo, but not live. Our minimum deposit is $400 for new accounts BTW.

I do understand where your coming from though and if you want to open a live account I will walk you though the steps and personally make sure its reliable for you when trading live.
  • #635
  • Apr 20, 2007 3:05pm Apr 20, 2007 3:05pm
I had posted earlier about a quirkiness in the Demo account, and was given another Demo account which had the same problem (my Basis kept getting changed during the 12:00 midnight server downtime).

Justin had assured me (via email) that this doesn't occur with the live accounts, so I took a chance and funded my live account and crossed my fingers.

Well, I've been trading with my live account for a week now and LOVE it! I am so glad I decided to go with EFX!!!

So, for those skeptical about how the demo accounts compare to the live accounts, the demo accounts DO NOT perform with the dependability of the live accounts, the LIVE accounts are dependable (in my own experience, so far, anyway)

AND in regards to their charting platform ... although EFX now offers a FREE version of the Intellichart, you can't beat the paid desktop version. $50 is a small price to pay for the caliber of this charting software, in my opinion. My husband used to pay way more for his charting system when he was trading Options, and we've spent thousands of dollars on various other trading software, etc. in the past, so to me, $50 is worth the investment (and a small one at that) if one is doing this as a serious business.

I had gotten used to the MetaTrader4 platform when I was demo'ing, and at first was disappointed that EFX couldn't be used with MetaTrader4, however after using the paid version of the Intellicharts, I am LOVING it, as well!!! There are a few things that could be bettered about it, but overall I find the capabilities wonderful (maybe even better than MetaTrader4 - although I hadn't/haven't learned all there is to know about either software, I'm basing it on only what I have/am experiencing so far).

AND for those who are thinking "why should I sign up with EFX since I can sign up directly with MBTrading," (I've seen this mentioned in some other thread somewhere) well the difference is ... Justin!! His level of care and customer service is EXCELLENT!! Both my husband and I have emailed him several times with various questions during the last month or two, and he is ALWAYS quick to respond. It is very hard to find this caliber of customer care/service from companies/businesses these days.

In fact, for me, customer service is number one in priority (even before price) and I would rather pay more doing business with a company that I can depend on to give me quality service and customer care, than having to contend with all the stress and headaches of a company that is poor in that regard (and I've had my share of that in the past, so I don't settle for it anymore).

So as a satisfied customer of EFX, I will say ... "sign up with EFX and they will take care of you!"
  • #636
  • Apr 20, 2007 3:53pm Apr 20, 2007 3:53pm
The thing with metatrader is only the automation.
Programed in C, simple, light weight, well foughted.
And have to admit that I don't find other better programed and concepted.
Who programed it, relies on simplicity, as we see in the conception as in the dysplay. Too pity that the .Net and Java entered in fashion, because at my point of view, it's weaker systems, and It's only good for the programers, as with they don't have so much effort as programing in native C.
The navigator, in VB.. VB it's weak, and don't allow to do much.
My recomendation, EFX or Mbtrading should wire natice C programers, with simplicity in mind, and take some simple good examples...
Then me and many subscribe with EFX or Mbtrading.

My opinion.
  • #637
  • Edited 4:18pm Apr 20, 2007 4:06pm | Edited 4:18pm
Ah, you are correct in that the advantage to MetaTrader is that the order placing and the charting are on the same platform, whereas with Intellicharts and EFX Navigator, they are separate from each other, thus the order placing is done separately making automation in trading not possible.

I was mostly referring to the charting portion with the EA's and scripts you can create for alerts/signals/etc. (I'm sure MetaTrader4 can do all the same things, as well, but I was more familiar with the scripting language with Intellicharts than MetaTrader, so found it easier to code).

Hopefully when EFX comes up with their own charting platform, all the best-of-the-best can be incorporate into it, then I'm sure they will have a powerful system
  • #638
  • Apr 21, 2007 7:29am Apr 21, 2007 7:29am
Hi,

I'm sure EFX's charting software will be great. But I depend on a wide variety of custom MT4 indicators... When EFX finally release their software, wouldn't it be great if they also provide a tool to import/convert MT4 indicators to work with their new charting software... I'm sure it's possible, and while it may take a big programming effort to create the conversion tool, it would make the move to EFX much easier for a lot of people... IMHO.

Regards,
Jin

ps. I agree - Justin is extremely helpful, and his webinars are great for people to quickly understand the benefits of the EFX software.
  • #639
  • Apr 26, 2007 1:24pm Apr 26, 2007 1:24pm
Hi Justin,

Thanks in advance for your help.
I recently placed a straddle play on GBPUSD on EFX Navigator Demo.. but the "tight" straddle plays overlaps...ie, Before the 1lot Buy order closes, the 1lot Sell Order was to be triggered.
What happened was that EFX closed my current 1lot Buy order by Selling it.
I would have wanted the straddle 1lot Buy order to carry on a few pips while the 1lot Sell order was already been triggered.
I hope i am not confusing you....so my question is simply ...Does that means EFX doesn't take both Buy and Sell trade of a Forex pair at any one time?

Rgds,
Edcheong
  • #640
  • Apr 26, 2007 1:34pm Apr 26, 2007 1:34pm
Quoting edcheong
Hi Justin,

Thanks in advance for your help.
I recently placed a straddle play on GBPUSD on EFX Navigator Demo.. but the "tight" straddle plays overlaps...ie, Before the 1lot Buy order closes, the 1lot Sell Order was to be triggered.
What happened was that EFX closed my current 1lot Buy order by Selling it.
I would have wanted the straddle 1lot Buy order to carry on a few pips while the 1lot Sell order was already been triggered.
I hope i am not confusing you....so my question is simply ...Does that means EFX doesn't take both Buy and Sell trade of a Forex pair at any one time?

Rgds,
Edcheong
Hi Edcheong,

To sum up the question for all forum members, you’re asking, "Does EFX allow hedging?"

The answer is no, we do not allow you to be long and short the same currency pair at the same time. So you’ll want to make sure your straddle trades including their target prices and stops do not overlap one another.

I hope this helps.
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