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MB Trading Futures - Introduction

  • #3,901
  • Aug 19, 2009 8:05am Aug 19, 2009 8:05am
Quoting DrainBamage
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
I think it just isn't displaying some of the feeds properly. Doesn't seem to be affecting execution.
  • #3,902
  • Aug 19, 2009 8:14am Aug 19, 2009 8:14am
Quoting IndyTrader
I think it just isn't displaying some of the feeds properly. Doesn't seem to be affecting execution.
There is a difference between execution and quotes. The quote display might be undergoing an issue, but that doesn't mean that the liquidity isn't there. I saw one day last week where the quote data looked "light" but my executions were filled on the pip for bigger size than was showing, and I would still get separate fills, so the system was hitting both a provider that was displaying and one that wasn't. The next day, the display was back to normal. I called and asked and was told that one has nothing to do with the other. Evidently, they are adding more liquidity providers and it can cause quote issues, but all it means is that there can be plenty of liquidity there that ain't showing.
  • #3,903
  • Aug 19, 2009 8:32am Aug 19, 2009 8:32am
Quoting InfinitySL
MBT does not provide historical data for NT (not sure why)....
Thank you, I will try Forex.com.
  • #3,904
  • Edited 10:01am Aug 19, 2009 9:10am | Edited 10:01am
Quoting InfinitySL
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).

Hope that helps.
This is correct. Ninja is adding historical data from MB Trading, but not until the release of their next version. I have sent my own inquiry to Ninja to check on the status and will let you know what I hear back.

More Info: Ninja has replied to me

We have a new expected beta release date for NinjaTrader version 7 to be at the end of September. We expect the MB historical data to be included.

More information on version 7 can be found here: http://www.ninjatrader.com/webnew/NT7/NinjaTrader7.html
  • #3,905
  • Aug 19, 2009 8:50pm Aug 19, 2009 8:50pm
Quoting jleblang
This is correct. Ninja is adding historical data from MB Trading, but not until the release of their next version. I have sent my own inquiry to Ninja to check on the status and will let you know what I hear back.

More Info: Ninja has replied to me

We have a new expected beta release date for NinjaTrader version 7 to be at the end of September. We expect the MB historical data to be included....
Thank you for the reply.
  • #3,906
  • Aug 21, 2009 12:43pm Aug 21, 2009 12:43pm
Hi Justin,

I am interesed in how to partially exit a multi-lot position in MT4. I like to be able to have a first exit, move my Stop Loss to break even, and hold the balance. In particular I want to be able to close my first partial on a Limit order. The second exit may be Limit or Market depending on what happens.

As far as I can see, Take Profits is only for the whole position.

I tried placing an opposite Limit order but that wasn't accepted with "Too many orders". I assume that this is something to do with no hedging, but I want to partial close, not hedge. And this works on Navigator.

I did manage to exit a first partial on a "Close (original order details) by Market". At the time it was 6 lots out of my original position of 12. I didn't get a confirmation, but rather "Off trades", I think - or something similar. However, my outstanding position did drop to 6 lots. I had a look in Account History and found that 6 lots had indeed closed. What was weird though was that the profit calculation was wrong, appearing to only be based on 2 lots rather than 6, but with commission for 6 lots. All the same things happened when I closed the balance in the same way - including the profit on 2 lots.

I would much prefer to exit with a Limit order at my target to minimize slippage.

One solution would be to place 2 orders to enter. Then I could have two separate Take Profit orders. The issue here is when entering on a Market order, if the price is moving in the direction of my trade, the delay on placing the second order will cost extra slippage. I then have to place 2 initial Stop Loss orders rather than 1, which takes more time when faced with the possibility of a quick reversal after entry.

A question here too. Is a Take Profit order actually a Limit order in the market (that can be filled at the top of the Bid or the Ask without having to be be hit by the opposite Ask or Bid - as in Navigator), or just a Market order that is triggered when the price is hit?

And a non-related final question. The commission showing in my MT4 is half that in Navigator or on your website. Is that correct?

A possible related issue if this has been addressed in any way, is that LiveUpdate won't connect to the server. I am on V4 Build 221, and the software is trying to update to V4 Build 225 but times out

Thanks and regards,

Tim
  • #3,907
  • Aug 22, 2009 5:50am Aug 22, 2009 5:50am
your asking for to much, MT4 has it limits, try using there mb platform.
  • #3,908
  • Aug 22, 2009 10:05am Aug 22, 2009 10:05am
Quoting tgilligan
Hi Justin,

I am interesed in how to partially exit a multi-lot position in MT4. I like to be able to have a first exit, move my Stop Loss to break even, and hold the balance. In particular I want to be able to close my first partial on a Limit order. The second exit may be Limit or Market depending on what happens.

As far as I can see, Take Profits is only for the whole position.

I tried placing an opposite Limit order but that wasn't accepted with "Too many orders". I assume that this is something to do with no hedging, but I want to partial...
I agree with TraderFX...MT4 doesn't work like this, you should use Nav for it, much easier.
  • #3,909
  • Aug 24, 2009 1:37am Aug 24, 2009 1:37am
Agree Nav is much better for managing trades.

Wondering why am even trying the demo on mt4 LOL
Been able to shift stop before but today even that function is not working.

Is the mt4 getting better or worst ? Jury is still out on this in my case.
Looks like a long drawn out integration .... -))
  • #3,910
  • Aug 25, 2009 5:00am Aug 25, 2009 5:00am
I must be missing something, but for some reason on my MT4 demo, the Profit/Loss column does not add up. It does add up, no problem, on FXDD demo that I just tested...

Even though it's already calculated in (I believe), I calculated the commission ($0.50 per mini lot) charges and also included the swap fees, and it's still not adding up. In total, it's only off by ~$55, but where did it go?? What am I missing?
  • #3,911
  • Aug 25, 2009 8:41am Aug 25, 2009 8:41am
Quoting alyehoud
I must be missing something, but for some reason on my MT4 demo, the Profit/Loss column does not add up. It does add up, no problem, on FXDD demo that I just tested...

Even though it's already calculated in (I believe), I calculated the commission ($0.50 per mini lot) charges and also included the swap fees, and it's still not adding up. In total, it's only off by ~$55, but where did it go?? What am I missing?
Alyehoud,

Please note that closing commissions are not added in real-time as MetaTrader client is not capable of handling this functionality. If you do a Custom History Report, the numbers should all be accurate because it refreshes everything. Note that in the Live version of MetaTrader, reporting will not be available via MetaTrader itself, but instead you will get statements on-line via our Nav FIFO statements.
  • #3,912
  • Aug 25, 2009 9:14am Aug 25, 2009 9:14am
Quoting jleblang
Alyehoud,

Please note that closing commissions are not added in real-time as MetaTrader client is not capable of handling this functionality. If you do a Custom History Report, the numbers should all be accurate because it refreshes everything. Note that in the Live version of MetaTrader, reporting will not be available via MetaTrader itself, but instead you will get statements on-line via our Nav FIFO statements.
Thanks for the clarification... so, when on live, are the Nav Statements available only through the Nav trader platform itself, or it is also available via email or website?
  • #3,913
  • Aug 25, 2009 9:27am Aug 25, 2009 9:27am
Hi Justin,

With all the recent new changes, I was wondering if it's possible to see 5 minute charts from longer than a week ago? I've been looking at the online EFX charts, and the furthest out they go is 1 week. Any other history data options?

Thanks!
Money missed is better than money lost
  • #3,914
  • Aug 25, 2009 9:37am Aug 25, 2009 9:37am
Quoting alyehoud
Thanks for the clarification... so, when on live, are the Nav Statements available only through the Nav trader platform itself, or it is also available via email or website?
You can access client (live) reports through Nav or via the website.
  • #3,915
  • Aug 25, 2009 9:40am Aug 25, 2009 9:40am
Quoting Dahlia
Hi Justin,

With all the recent new changes, I was wondering if it's possible to see 5 minute charts from longer than a week ago? I've been looking at the online EFX charts, and the furthest out they go is 1 week. Any other history data options?

Thanks!
If you have the latest version of the Navigator 11.3.0.4, you can pull up the charting package labeled beta under Navigate, which does offer longer time frames for 5 minute.
  • #3,916
  • Aug 25, 2009 9:48am Aug 25, 2009 9:48am
There is lots of bad data in the nav charts, i.e. 1.000 prints in eur/usd every day during roll-over, usd/jpy has corrupted data as well after a quick glance.

Is MT4 the same or does mb have better quality backfill data for that?
  • #3,917
  • Aug 25, 2009 11:51am Aug 25, 2009 11:51am
Quoting shrike
There is lots of bad data in the nav charts, i.e. 1.000 prints in eur/usd every day during roll-over, usd/jpy has corrupted data as well after a quick glance.

Is MT4 the same or does mb have better quality backfill data for that?
I am a beta user, and I have to say I more bad ticks than I expected. I cannot even fix them, which is odd.
I'm pretty much done with all this ...
  • #3,918
  • Aug 25, 2009 1:44pm Aug 25, 2009 1:44pm
Hi Justin,

4 questions for you:

1- Do execution orders from OpenQuant work well with MB Trading (fills, delays, timing, etc...)
2- Can I use MBT as a reliable data source or should I pay for 3rd party data (esignal for example)
3- It is true that MBT servers go off-line twice a day?
4 - Are MBT executions on ECN much better than your STP?
Thanks,
mustang8888
  • #3,919
  • Aug 26, 2009 3:53am Aug 26, 2009 3:53am
Justin,

Would MBT be affected by this proposal by the FINRA? It sounds like a joke to me, but they are proposing leverage of 1.5:1???


http://www.finra.org/Industry/Regula...s/2009/P118864
  • #3,920
  • Aug 26, 2009 9:09am Aug 26, 2009 9:09am
Quoting mustang8888
Hi Justin,

4 questions for you:

1- Do execution orders from OpenQuant work well with MB Trading (fills, delays, timing, etc...)
2- Can I use MBT as a reliable data source or should I pay for 3rd party data (esignal for example)
3- It is true that MBT servers go off-line twice a day?
4 - Are MBT executions on ECN much better than your STP?
Thanks,
mustang8888
Mustang8888

1)I don't believe MB supports SmartQuant any longer.
2)Not sure what you mean as “reliable data source.” Are you asking about for our own executions (then obviously yes) or for some charting (then it depends if our data is compatible)
3)No. We used to have midnight maintenance, but now there is only one period at 5pm EST where we go offline for a short bit.
4)Again, not sure what you mean. We don’t have separate ECN/STP executions, they all go together.
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