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MB Trading Futures - Introduction

  • #3,881
  • Aug 13, 2009 10:38pm Aug 13, 2009 10:38pm
Quoting jleblang
Is the price moving through your order? If so, there is no reason you shouldn't be filled. Is this on the MBT Navigator or MT4? I'd really need to explore this first hand with your account information, order information including price, type and time. Probably best to email me directly at [email protected] with all the details including your live account number.
Or is he just making it up. I always get filled if price goes through my order.
  • #3,882
  • Aug 14, 2009 1:10am Aug 14, 2009 1:10am
Can you define what you mean by moving through your order?

Obviously, if the market (ie, the spread) moves through your order you will get filled.

My question is regarding posting orders inside the spread. I find that even though I have the most competitive bid/ask, my order does not seem to get filled all that quickly, while it appears (from what I can see) that orders outside the market I have made are getting filled.
  • #3,883
  • Aug 14, 2009 6:43am Aug 14, 2009 6:43am
Hi,
i'm currently client of MBT forex, and have some questions:

1) I was told by professional traders, that no matter the broker, one should not place live stop loss orders, because broker could see it, and hit it intentionally. Is this something borkers, and specifically MBT forex can do ? Should we avoid posting live stop orders ?

2) When I place a forex order with mbt, do I need to pay a commission + the spread ? Or just the spread ?

3) Do you plan to offer trading from chart trough your application (place and move stop orders visually... all things we can do with ninjatrader) ?

4) Do you plan to release a 64 bit version of your forex navigator ? Ninjatrader 7 64 bit is coming, and i'm thinking of going 100% 64 bits.
  • #3,884
  • Aug 14, 2009 10:46am Aug 14, 2009 10:46am
Quoting brakkar
Hi,
i'm currently client of MBT forex, and have some questions:

1) I was told by professional traders, that no matter the broker, one should not place live stop loss orders, because broker could see it, and hit it intentionally. Is this something borkers, and specifically MBT forex can do ? Should we avoid posting live stop orders ?
That is a bad idea. No SL is a sure fire way to get run over. Brokers make money from keeping their clients in business, not the other way around.

Quote
2) When I place a forex order with mbt, do I need to pay a commission + the spread ? Or just the spread ?

Both. And the spread is much better at MBT than a deal desk. I get sub 1 pip on EU a lot. Right ow it is exactly 1 pip - on a friday afternoon.. One way or another, you will pay the man for his service. Some people hate commission, but like I said, the man must be paid to provide the service. You get to choose how.

Quote
3) Do you plan to offer trading from chart trough your application (place and move stop orders visually... all things we can do with ninjatrader) ?

Ninja Trader integrates with MBT - as does NeoTicker. Enjoy.

Quote
4) Do you plan to release a 64 bit version of your forex navigator ? Ninjatrader 7 64 bit is coming, and i'm thinking of going 100% 64 bits.


I am a computer guy, and I hear this a lot. So - what does this give you? Hint: Nothing except playground bragging rights.
I'm pretty much done with all this ...
  • #3,885
  • Aug 14, 2009 12:16pm Aug 14, 2009 12:16pm
Are there any plans currently to add historical data to MBT's interaction with NinjaTrader? Right now Ninja Trader can access the streaming quotes but it cannot download any historical data, although the data is clearly there because there are intra-day charts available in the Navigator itself...

Thanks in advance...
  • #3,886
  • Aug 15, 2009 12:50am Aug 15, 2009 12:50am
Thanks for your answer. Still would like to hear justin.

Quote
Ninja Trader integrates with MBT - as does NeoTicker. Enjoy.
Ninja does't support (yet) mbt historical data, and neo doesn't support trade on chart.
To answer to guy question above: ninja 7 will support mbt historical.

Quote
I am a computer guy, and I hear this a lot. So - what does this give you? Hint: Nothing except playground bragging rights.
Please let ME answer the question.
You don't know about my trading setup. My trading setup is very heavy and memory hungry, and now I must limit myself to the 2-3 gigs of 32 bit systems. I could use well over 6 gig per computer. And for this I would certainly make use of 64bit os.
So certainly a system with Ninjatrader 7 64 bit, and MBT navigator 64 bit would be neat.


I have another question for MBT justin:
I spoke with a professional trader who was saying that at the size of 100 standards lots (pip = 10$), equivalent of 1000 mbtf lots, it becomes hard to get instant fills and trade correctly. Is it true ?
What's biggest lot size one can realistically trade with MTFX ? What lot size are your biggest clients using ?
  • #3,887
  • Aug 15, 2009 3:13am Aug 15, 2009 3:13am
Quoting StoragePro
Both. And the spread is much better at MBT than a deal desk. I get sub 1 pip on EU a lot. Right ow it is exactly 1 pip - on a friday afternoon.. One way or another, you will pay the man for his service. Some people hate commission, but like I said, the man must be paid to provide the service. You get to choose how.
And this is perfect example how MBT marketing works StoragePro, have you ever add up how much are commissions ? With EURUSD you have 1 pip spread + 1.4 pip commission = 2.4 pips. That's more than 90% brokers offer !!! The diffrence doesn't seem huge. But it's huge for scalpers. Hmm, but I've thought MBT was mainly for daytraders, because of extremly high swap rates ?
MBT have some quirks, but overall I'm pleased with MBT now.
  • #3,888
  • Aug 15, 2009 6:04am Aug 15, 2009 6:04am
Am I missing something here? 2.4 on EU? And that's better than 90% of the brokers? IBFX has 2 on EUR/USD & has had for years.
Quoting pavikogm
And this is perfect example how MBT marketing works StoragePro, have you ever add up how much are commissions ? With EURUSD you have 1 pip spread + 1.4 pip commission = 2.4 pips. That's more than 90% brokers offer !!! The diffrence doesn't seem huge. But it's huge for scalpers. Hmm, but I've thought MBT was mainly for daytraders, because of extremly high swap rates ?
MBT have some quirks, but overall I'm pleased with MBT now.
  • #3,889
  • Aug 15, 2009 6:37am Aug 15, 2009 6:37am
Something i don't understand: sometime i exit a position a pip over my entry price, sometime even half a pip away, and im still able to generate a (small) profit. How is this possible with their commission + spread?
i certainly do not need price to move 2.4 pips to start generate profit.
I speak of eurusd of course.
  • #3,890
  • Aug 15, 2009 8:48am Aug 15, 2009 8:48am
Quoting pavikogm
And this is perfect example how MBT marketing works StoragePro, have you ever add up how much are commissions ? With EURUSD you have 1 pip spread + 1.4 pip commission = 2.4 pips. That's more than 90% brokers offer !!! The diffrence doesn't seem huge. But it's huge for scalpers. Hmm, but I've thought MBT was mainly for daytraders, because of extremly high swap rates ?
MBT have some quirks, but overall I'm pleased with MBT now.
Never understand when people say this, especially scalpers. If you are trading fast, you are likely using Limit orders to get out of a position soon after you enter. So let's take the EURUSD, where IBFX is a 2-pip deal desk. Let's say it is 1.3100 by 1.3102. You buy at market (1.3102). So the market needs to actually move three pips for you to be profitable by 1 pip, and I'm not saying that people are only trying to make just 1 pip anyway. And of course, all of this assumes that your account isn't set for slippage through the deal desk.

Meanwhile on MB, you can buy at market and put your limit where you want out, and you'll get filled along the way, and you don't necessarily have to wait for the bid to get there. They show your trade right in the quote, so no games.

It is true that the mathematical difference is very small and depends a little on HOW you are trading. But I think that any scalper would recognize that they have a lot more control with MB and no games are played. I seriously doubt that an active scalper is paying more with MB when you consider the execution and the costs. And this is of course on the EURUSD, where it is all pretty close. Things get much better with MB when you trade something like GBPUSD or especially GBPJPY, etc. I trade GBPJPY a lot with about a 3 pip spread, plus the fee, and I can be the bid or offer. Try that with IBFX...no chance.
  • #3,891
  • Aug 15, 2009 1:42pm Aug 15, 2009 1:42pm
Quoting brakkar
Ninja does't support (yet) mbt historical data, and neo doesn't support trade on chart.
Better have a closer look:

http://www.tickquest.com/NeoTicker/mbtrading.html

Or of course you could actually USE it. But it is easier to have an opinion I guess.

...
I'm pretty much done with all this ...
  • #3,892
  • Aug 15, 2009 1:52pm Aug 15, 2009 1:52pm
Quoting pavikogm
And this is perfect example how MBT marketing works StoragePro, have you ever add up how much are commissions ? With EURUSD you have 1 pip spread + 1.4 pip commission = 2.4 pips. That's more than 90% brokers offer !!! The diffrence doesn't seem huge. But it's huge for scalpers. Hmm, but I've thought MBT was mainly for daytraders, because of extremly high swap rates ?
MBT have some quirks, but overall I'm pleased with MBT now.
Isn't it 1 + .6? Making it inline, or on the high end
  • #3,893
  • Aug 15, 2009 1:54pm Aug 15, 2009 1:54pm
Quoting wannatradefx
Never understand when people say this, especially scalpers. If you are trading fast, you are likely using Limit orders to get out of a position soon after you enter. So let's take the EURUSD, where IBFX is a 2-pip deal desk. Let's say it is 1.3100 by 1.3102. You buy at market (1.3102). So the market needs to actually move three pips for you to be profitable by 1 pip, and I'm not saying that people are only trying to make just 1 pip anyway. And of course, all of this assumes that your account isn't set for slippage through the deal desk.

Meanwhile...
Nice post, Wanna.

I have found that the majority of folks do not understand - at all - what an ECN does and how. Just as most folks do not understand what a STP like IBFX does. Or a dealing desk. Each has its ups and downs. It depends on what you want or find acceptable. ECN's are not for everyone. A dealing desk is best - believe it or not - for most - especially a beginner.

The only think I don't like about MBT are the Swaps. But I knew about them going in and why they are the way they are. And I have found it to be worth it. If I ever swing a big enough line to where the swaps are no longer worth it to me, then maybe I will move on. But these folks are pretty darn good. And they do Futures and Options too - so I like that one stop shop.

But then again, a person would have to actually use them to know what I am talking about. Or read this thread to see Justin explain it. But people are just too lazy to do their homework - and why the vast majority lose.
I'm pretty much done with all this ...
  • #3,894
  • Aug 15, 2009 2:53pm Aug 15, 2009 2:53pm
Quoting StoragePro
Better have a closer look:

http://www.tickquest.com/NeoTicker/mbtrading.html

Or of course you could actually USE it. But it is easier to have an opinion I guess.

...
Do you really use neoticker ? I do.
Now tell me how I can see my stop orders on the chart, and drag drop them as market evolves, as I do with ninja ?
  • #3,895
  • Aug 15, 2009 3:10pm Aug 15, 2009 3:10pm
Quoting brakkar
Do you really use neoticker ? I do.
Now tell me how I can see my stop orders on the chart, and drag drop them as market evolves, as I do with ninja ?
Yes I do ... you want everything... ;-)

OK - I see what you mean now.

You want it like Open eCry does it. OEC Trader. Nice stuff - but not quite there yet. Now reason Tick Quest could not do this. Just need to spin some cycles.
I'm pretty much done with all this ...
  • #3,896
  • Aug 18, 2009 8:52am Aug 18, 2009 8:52am
Justin,
Saw in this thread that forex margins will be changing 100:1 on majors and 25:1 on crosses. I usually trade e/u and cable on the navigator platform so these won't affect me but I also trade gbp/jpy and it looks like it would be 40k per contract which would be out of my league right now.
Any idea on when this will happen?
Thanks
  • #3,897
  • Aug 18, 2009 12:53pm Aug 18, 2009 12:53pm
Quoting Seatrade
Justin,
Saw in this thread that forex margins will be changing 100:1 on majors and 25:1 on crosses. I usually trade e/u and cable on the navigator platform so these won't affect me but I also trade gbp/jpy and it looks like it would be 40k per contract which would be out of my league right now.
Any idea on when this will happen?
Thanks
Seatrade,

100:1 (1%) is permitted for : British pound, the Swiss franc, the Canadian dollar, the Japanese yen, the Euro, the Australian dollar, the New Zealand dollar, the Swedish krona, the Norwegian krone, and the Danish krone;

25:1 (4%) is permitted for all other currencies not specified above.
  • #3,898
  • Aug 18, 2009 9:47pm Aug 18, 2009 9:47pm
Justin:

I just download a Ninjatrade and linked it to my MBT demo account. However, I can see only data from when I open Ninja trade on the specific day (for emaple, I open the Ninja trade on 2 pm, and the chart begine to show the bar from 2 pm for one pair, and then i switch to another pair on 2:30 pm, then the chart will show this pair's bar from 2:30 pm.

Any suggestion on how to see previous bars (or historical data)?

Thank you in advance,
  • #3,899
  • Aug 19, 2009 6:56am Aug 19, 2009 6:56am
What happened to liquidity on MBT? I see only 2-3 big orders from liquidity providers on Bid/Ask lately. All other orders on level 2 are small ones of 1-10 lots from traders. And thats on Eur/Usd. Spread is bigger as well on average. I am talking about Frankfurt/London opening times.
Used to be a lot better
  • #3,900
  • Aug 19, 2009 7:25am Aug 19, 2009 7:25am
Quoting st-watcher
Justin:

I just download a Ninjatrade and linked it to my MBT demo account. However, I can see only data from when I open Ninja trade on the specific day (for emaple, I open the Ninja trade on 2 pm, and the chart begine to show the bar from 2 pm for one pair, and then i switch to another pair on 2:30 pm, then the chart will show this pair's bar from 2:30 pm.

Any suggestion on how to see previous bars (or historical data)?

Thank you in advance,
MBT does not provide historical data for NT (not sure why). According to a poster earlier in the thread, this will change with the release of NT7, but the launch of that is TBD and has been pushed back a number of times (I'm hearing 4th quarter 2009, but that's just an estimate and subject to change/revision).

In the mean time, if you want to do back-testing/charting on "major" pairs you can just use the forex.com demo-feed that comes with NT for historical data.

TO see what different brokers provide to NT, click here: http://www.ninjatrader-support.com/H...HistoricalData

Hope that helps.
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