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MB Trading Futures - Introduction

  • #4,501
  • Dec 31, 2009 2:57am Dec 31, 2009 2:57am
Quoting wannatradefx
Why do you care about FIFO?
attached image may illustrate how my hedge trade works in one pair, that 1 cause why i care and agree with maria.

that only 2 trades sample, actually on that chart it have multiples stoploss hit, multiple breakeven hit, multiple profit floats. As price continue flows if there is a trend(up/down) the oldest floats will generates the biggest profit, and when its sideways or choppy it will always have multiple stoploss hit & multiple breakevens & few profit floats

if someone thinks this way is stupid way its ok i accept that, but that how my brain works, and no hedge is disabling me.
Attached Image
  • #4,502
  • Dec 31, 2009 10:20am Dec 31, 2009 10:20am
Quoting forexpipmaster
Justin: This is my first time posting on this thread, with maybe some hope that things will improve, but I very much doubt it...
poor guy and another "victim" of MBTF's crappy demo environment.

Yes, I agree with your points, they seems endlessly testing or upgrading something in demo environment, that's how they opererate their business as they explain. I guess they just don't care those demo users feelings.

Although live is quite stable, any improvement of demo will attract more potential clients for sure, at least this kind of comments will decrease.

Happy new Year and Good trading to all !
  • #4,503
  • Dec 31, 2009 11:39am Dec 31, 2009 11:39am
Quoting forexboom
Dear Justin,

do you have in the near future plan to open an european operation (mainly UK) like many of your competitor (fxcm, forex.com, GFT etc) to allow your customer hedging and no FIFO rules?

Why your spreads on GBP pairs are no good as spread on other pairs?

Maria
Forexboom,

Thank you for your first post on FF. Welcome aboard!

To answer your questions:

 

  1. We have no plans to open a UK operation to bypass the NFA rules that we feel are going to be replicated around the globe shortly.
  2. We are not interested in hedging as it provides no benefit to the trader and only serves to increase what a broker can make on a customer.
  3. I have no idea why FIFO rules would affect your trading as those are accounting and statement reporting rules only. It does not limit what you can do.
  4. What do you mean about the GBPUSD? I was watching it a few minutes ago and it was an 1.2 pip spread during the Holiday week. Even with commissions, that seems very competitive.

  • #4,504
  • Dec 31, 2009 4:19pm Dec 31, 2009 4:19pm
How come e/u 1.4400 While all others brokers i use 1.4325!! Maybe because midnight and new year
Happy new year 2010
  • #4,505
  • Jan 1, 2010 8:16am Jan 1, 2010 8:16am
Dear Justin,

thank you for your reply. On GBP pairs I mean mainly GBP/JPY, is always higher than your direct competitors.
  • #4,506
  • Jan 1, 2010 12:02pm Jan 1, 2010 12:02pm
Quoting jleblang
Forexboom,...

Justin, when you announced MBT was decreasing their comissions you said you guys had a bigger announcement comming... I don't think you have said it yet.

Any ideas when the announcement is or what could it be? thanks
  • #4,507
  • Edited 10:18pm Jan 1, 2010 12:24pm | Edited 10:18pm
Hi Justin,
Since MB is an ECN broker, why do we still get "Off Quotes" error on Market orders as others have alo reported? Thanks.
  • #4,508
  • Jan 1, 2010 1:17pm Jan 1, 2010 1:17pm
Justin,

I am not aware of any UK rules or regulations that are likely to follow NFA rules as you suppose! This is just calculated 'hearsay' on your part.

Probably there is more chance that Margin will next be greatly affected by NFA rules in the US - basically stuffing US only based forex brokers and all their clients!

Perhaps the reason that your competitors have opened overseas offices away from the overzealous NFA etc is becuase they know something that you don't!?, (or you do but are not willing to accept)!! - I am sure that they did not come to the UK for the 'fine' weather and a nice view of Tower Bridge!

I say this as a fan of MBT trading - I believe that you are a good honest broker that genuinely has it's the clients interest at heart.

I would hate to see it all wasted by Rules, Rules and more Rules - unless of course you do follow the UK route!

Hope it all works out fine in the end.

Quoting jleblang
Forexboom,

Thank you for your first post on FF. Welcome aboard!

To answer your questions:

[list][*]We have no plans to open a UK operation to bypass the NFA rules that we feel are going to be replicated around the globe shortly.[*]We are not interested in hedging as it provides no benefit to the trader and only serves to increase what a broker can make on a customer.[*]I have no idea why FIFO rules would affect your trading as those are accounting and statement reporting rules only. It does not limit what you can do.[*]What do you mean...
  • #4,509
  • Jan 1, 2010 8:11pm Jan 1, 2010 8:11pm
Quoting salvador_
Justin, when you announced MBT was decreasing their comissions you said you guys had a bigger announcement comming... I don't think you have said it yet.

Any ideas when the announcement is or what could it be? thanks
I believe he said around the first of the year but I doubt they are working on a Holiday.
  • #4,510
  • Jan 1, 2010 8:12pm Jan 1, 2010 8:12pm
Quoting yesbee1
Hi Justin,
Since MB is an ECN broker, why do we still get "Off Quotes" error as others have alo reported? Thanks.
You mean right now, while the market is closed? Or you mean at other times? I've never had an OffQuotes error message in my Live account during market hours.
  • #4,511
  • Jan 1, 2010 8:15pm Jan 1, 2010 8:15pm
Quoting Bazuka77
Justin,

I am not aware of any UK rules or regulations that are likely to follow NFA rules as you suppose! This is just calculated 'hearsay' on your part.

Probably there is more chance that Margin will next be greatly affected by NFA rules in the US - basically stuffing US only based forex brokers and all their clients!

Perhaps the reason that your competitors have opened overseas offices away from the overzealous NFA etc is becuase they know something that you don't!?, (or you do but are not willing to accept)!! - I am sure that they did not...
Here's my bet...within two years, FX will be regulated the same in all major countries. Separate from that, the US rules haven't affected me at all. Hedging was always a joke and people shouldn't even be trading 100 to 1, much less higher than that. What else has the NFA done except force brokers to have more capital to protect their client base? I would bet that most of the people that whine about the regulation have never made a dime trading forex and are just using it as an excuse. I'd love to see an account statement from someone trading more than 100 to 1 for three months that was profitable and wouldn't have been without hedging. I've asked around. Still waiting for ONE example...
  • #4,512
  • Edited 9:26pm Jan 1, 2010 9:06pm | Edited 9:26pm
Quoting wannatradefx
Here's my bet...within two years, FX will be regulated the same in all major countries. Separate from that, the US rules haven't affected me at all. Hedging was always a joke and people shouldn't even be trading 100 to 1, much less higher than that. What else has the NFA done except force brokers to have more capital to protect their client base? I would bet that most of the people that whine about the regulation have never made a dime trading forex and are just using it as an excuse. I'd love to see an account statement from someone trading more...
Ummm... You're dead wrong!! - I've seen plenty of profitable long-term hedging systems. (not posting links to seem spammy. Google It. Easy to find long term LIVE Real-Money Statements) and the true interbank simply processes contracts. The banks dont care if you BUY a contract while you're holding a SELL contract. Why would they? Its YOUR money! - FXCM-UK and Dukascopy allow MT4 hedging but their backoffice nets the position automatically (when you login to the user backoffice you only see the net position). The MT4 hedging interface is an illusion but allows the trader to buy/sell positions as they wish. I dont understand why USA brokers cant let their backoffice do the same. I doubt that the rest of the world is rushing to emulate the NFA (Not a single country has done it yet!) - Also I SERIOUSLY doubt that that banks (which thats all FX is. Multi-Country currency conversion) all over the world are gonna allow themselves to be dictated to by a central authority. Sheeesh the US banks wont even allow the US government to stop them from charging US citizens usury (30%+) credit cards rates. They dont want to be dictated to by anyone so I reject even the thought that banks worldwide are suddenly going to allow themselves to fall under central regulations. (from WHO!? The Broke, Busted, Debt-Ridden USA!? The same country who's banking regulations almost bankrupt the WORLD!! Whatta Joke!!) - No big bank is gonna allow some central authority to restrict what they can do (not voluntarily. they'll fight it tooth and nail). Not gonna happen!!
  • #4,513
  • Jan 1, 2010 10:22pm Jan 1, 2010 10:22pm
I was referring to this post #4500 in this thread (http://www.forexfactory.com/showpost...postcount=4500). So far I have traded demo and seen this message. But it seems this trader is seeing it on live account as well.

Thanks.

Quoting wannatradefx
You mean right now, while the market is closed? Or you mean at other times? I've never had an OffQuotes error message in my Live account during market hours.
  • #4,514
  • Jan 2, 2010 12:22am Jan 2, 2010 12:22am
Quoting Aja
Ummm... You're dead wrong!! - I've seen plenty of profitable long-term hedging systems. (not posting links to seem spammy. Google It. Easy to find long term LIVE Real-Money Statements) and the true interbank simply processes contracts. The banks dont care if you BUY a contract while you're holding a SELL contract. Why would they? Its YOUR money! - FXCM-UK and Dukascopy allow MT4 hedging but their backoffice nets the position automatically (when you login to the user backoffice you only see the net position). The MT4 hedging interface is an illusion...

Time will tell, my friend. Time will tell. I put money on it though. And here's the thing. You can spout off all day about how you should be able to buy and sell and it not matter if you are long or short already. MB already did that and still does on Navigator platform because they don't keep it position-based. That's the mistake that most of these crap desks make is that they set up the accounting so that a customer thinks that if he buys and it drops 30 pips and then buys and it drops 30 pips and then buys more and it drops 30 pips and then buys more and it bounces 5 pips and he closes the last buy entry and then hedges short and it drops 10 pips, HE MADE MONEY!!! ROFLMAO. WHAT A JOKE! Nevermind that he is buried in his positions that are not realized. And then the desks pay "educational" companies to teach people to trade this way! It will be regulated, and then guess what...99% of people won't lose money in FX anymore...but there won't be as many people trading it either because they all want to believe the lie.
  • #4,515
  • Jan 2, 2010 12:25am Jan 2, 2010 12:25am
Quoting yesbee1
I was referring to this post #4500 in this thread (http://www.forexfactory.com/showpost...postcount=4500). So far I have traded demo and seen this message. But it seems this trader is seeing it on live account as well.

Thanks.
You'll never see it on a Live account unless your EA is operating badly. It never ceases to amaze me. I've had a live account with them since Beta in September and never had a glitch, but these people just whine and whine. Forget the demo, open a live account and trade micros (yes, you can get partials on a MINI). Trade micros until you are convinced that your EA is working fine. You'll never look back.
  • #4,516
  • Edited 1:00am Jan 2, 2010 12:48am | Edited 1:00am
Quoting wannatradefx
You'll never see it on a Live account unless your EA is operating badly. It never ceases to amaze me. I've had a live account with them since Beta in September and never had a glitch, but these people just whine and whine. Forget the demo, open a live account and trade micros (yes, you can get partials on a MINI). Trade micros until you are convinced that your EA is working fine. You'll never look back.
complete rubbish. I've seen it live on manual trading a few times. Sadly in one of the cases it was due to the MT4 server going down and for this reason their phone lines where overwhelmed. Took me about 15-20 min to get though, by that time I had lost around 5% of the account due to this MBT fault. I made a claim which they totally ignored. Thankfully it is a small live account I use to test the environment, so I don't care about the money but it's the principle that matters, and the way it was handled by MBT. Needless to say that my proper trading capital goes to another broker.

So yes, the live environment is unstable, and does give off quotes, and will be interesting to know why if that was a true ECN. Also, what I typed above serves as a warning to fellow traders who want to put at risk any serious amount of hard earned cash on this unstable environment.

Plus another thing: I have tried pending orders between the spread that sit there and never get hit for whole minutes on active times. In a true ECN these would have been hit. But in MBT they don't. I leave it to the readers intelligence to guess why.

PS: I would appreciate it if you could stop missinforming readers here about things that are not true, or at the very least it is apparent that you don't have a clue. It is by now dead obvious that you are an MBT fanboy, which is absolutely fine, except that some people will put on the line and risk to lose hard earned money if they listen to your comments, and this is not fine.
  • #4,517
  • Jan 2, 2010 12:50am Jan 2, 2010 12:50am
Quoting wannatradefx
Here's my bet...within two years, FX will be regulated the same in all major countries. Separate from that, the US rules haven't affected me at all. Hedging was always a joke and people shouldn't even be trading 100 to 1, much less higher than that. What else has the NFA done except force brokers to have more capital to protect their client base? I would bet that most of the people that whine about the regulation have never made a dime trading forex and are just using it as an excuse. I'd love to see an account statement from someone trading more...
All banks and hedge funds use... uhmm .. hedge! There is a good reason for that but I won't go into it here. Your thinking is very USA-centered, I seriously doubt any other developed country will follow suit in limiting traders freedom and treating them like dummies.
  • #4,518
  • Jan 2, 2010 1:35am Jan 2, 2010 1:35am
Quoting challenger78
complete rubbish. I've seen it live on manual trading a few times. Sadly in one of the cases it was due to the MT4 server going down and for this reason their phone lines where overwhelmed. Took me about 15-20 min to get though, by that time I had lost around 5% of the account due to this MBT fault. I made a claim which they totally ignored. Thankfully it is a small live account I use to test the environment, so I don't care about the money but it's the principle that matters, and the way it was handled by MBT. Needless to say that my proper trading...
So wait, let me ask this question as a "fanboy" based on what you are saying. I am aware that they were down one day this month for about an hour. I was not affected. It happens. The NYSE and the CME were also both down for about an hour this month. That's part of the world of trading. But that doesn't make the platform unstable, that just means that they experienced a technological glitch, which might or might not have been their fault.

So is that your whole point? That they were down once? Or are you saying that the problem is more systemic? Because I have not experienced the issues that you claim to have experienced.
  • #4,519
  • Jan 2, 2010 1:35am Jan 2, 2010 1:35am
Quoting challenger78
All banks and hedge funds use... uhmm .. hedge! There is a good reason for that but I won't go into it here. Your thinking is very USA-centered, I seriously doubt any other developed country will follow suit in limiting traders freedom and treating them like dummies.
I have bookmarked your quote for future reference. Chat with you later.
  • #4,520
  • Jan 2, 2010 1:42am Jan 2, 2010 1:42am
Do you have any plans on supporting MQL5? When do you think it will go demo/live?
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