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MB Trading Futures - Introduction

  • #4,921
  • Feb 15, 2010 11:19pm Feb 15, 2010 11:19pm
Quoting jdwbryan
PH,

If you read through the thread a bit I think you'll find this a common occurrence on the DEMO...and non-existent on their live platform, at least in my experience (I'm assuming you are talking about MT4?). I used their demo for weeks before going live and had frequent "off quotes" and "no connection" etc...but since going live have had not a single hiccup. Not the first time I've said this but, I highly recommend MBT. After a few weeks live trading you will forget what that nasty "off quotes" error sounds like!
Thanks allot for the info jdwbryan

I did also read later through the thread that this was a common thing

Then this morning I see that my account have been completely deleted. So I decided that that was the end of my MBT experience. Luckily I did decide to come and read this thread again where I read the post of "Wannatradefx" saying that everyone's Demo accounts will be deleted.

So I will give it another try.

I think a person should also just be careful in rendering a service like a demo account without it running 100%, for at the end of the day even though it is an added service, it may almost do more harm than it helps. I mean it just shows something about a company if they have products that work so badly. I know it is not the things that you spend your time and money on, but then it may be profitable for MBT just to clearly state that there are some known problems with there DEMO server, but that this is completely isolated and does not happen on there live accounts....

Anyway, lets hope the demo server will be better now.

Regards
PH
Live happens 5 minutes at a time...
  • #4,922
  • Feb 16, 2010 3:07am Feb 16, 2010 3:07am
Quoting aaceofspades
Not only is the margin call in question, but why liquidate the whole position instead of a partial amount?
That's just their MT4 policy, seems to be a system-related constraint.

The question remains why it was triggered in the first place, which ties back to the ambiguity of their margin call policy:

" MB Trading Futures, Inc (MBTF) margin policies dictate that at any time a trader has an open position he/she must maintain a minimum of 1% equity. MBTF will make every effort to contact you in regard to risk position(s), however in some instances if your account declines too quickly, the order desk will liquidate partial or entire open position(s) at risk to bring your margin equity percentage to 0.50%"

The second stance "MBTF...will bring your margin equity percentage to 0.50%" runs directly counter to the very first clause "a trader must maintain a minimum of 1% equity". Why would they liquidate to achieve merely 0.50% when the preceding sentence makes it clear that 1% is the minimum equity level?

What's even more interesting, is they state later in an example:

"you may want to set a conservative rule of if your account equity drops to 0.65%, then you are going to wire more funds to your account to sustain the open account risk"

What's the point of MBTF even suggesting that, given they can liquidate a position at their discretion at any point below 1% equity? Clearly, that company-suggested "conservative rule" is woefully inaccurate as this particular trader was north of 0.80% when the margin call hit..

Justin, perhaps your firm should consider clarifying the margin call policy. Either a hard maintenance 1%, or 0.5%, rather than ambiguity (made worse by the aforementioned 0.65% suggestion). If anything, at least consider removing the 0.65% suggestion, it's clearly inaccurate advice, as this trader's unfortunate circumstance shows.
  • #4,923
  • Feb 16, 2010 3:15am Feb 16, 2010 3:15am
Liger86 It's not right or wrong it's simply a function of what time they open and close. Check the different times for different brokers.

Personally I would like to see an answer to aaceofspades question about margin calls. But I am confused.
aace, does this mean you risked an amount that had 50% of your account at risk after a 17 pip move ? Or am I missing the point ?
  • #4,924
  • Feb 16, 2010 5:50pm Feb 16, 2010 5:50pm
Justin, no need to answer but I hope you guys are paying attention to what FXDD just did in Malta. I'd really hate to leave you guys if leverage max is changed to 10:1 and go with a broker I wouldn't trust as much as I've come to trust MBTrading.
  • #4,925
  • Feb 16, 2010 6:49pm Feb 16, 2010 6:49pm
Quoting bapxyz
Liger86 It's not right or wrong it's simply a function of what time they open and close. Check the different times for different brokers.
Actually it is right/wrong because it effects the way candles look if you are using non standard open/close.

So for example when everyone is looking at a doji on 4hr you might be looking at something completely different and not take that into account.

As far as i know, and from experience, candle patterns are important. It's also important that everyone is looking at the same ones.

If someone doesnt agree, thats fine, but why is MB feed closing at midnight every day. It's clear that there are 5 perfectly good end to end cycles starting at 5pm eastern sunday and ending 5pm friday.

Anyway, it would be nice to be able to customize the charts so they use whatever open/close you want.
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #4,926
  • Feb 16, 2010 7:01pm Feb 16, 2010 7:01pm
Quoting Max Thrax
Justin, no need to answer but I hope you guys are paying attention to what FXDD just did in Malta. I'd really hate to leave you guys if leverage max is changed to 10:1 and go with a broker I wouldn't trust as much as I've come to trust MBTrading.
Are you saying that FXDD is basing out of Malta now? And you'd send your money there? Is this the same FXDD that was down for over an hour today when the JPY got out of control?
  • #4,927
  • Feb 16, 2010 7:02pm Feb 16, 2010 7:02pm
Quoting Liger86
Actually it is right/wrong because it effects the way candles look if you are using non standard open/close.

So for example when everyone is looking at a doji on 4hr you might be looking at something completely different and not take that into account.

As far as i know, and from experience, candle patterns are important. It's also important that everyone is looking at the same ones.

If someone doesnt agree, thats fine, but why is MB feed closing at midnight every day. It's clear that there are 5 perfectly good end to end cycles starting at 5pm...
I believe that the issue was discussed before. Their execution occurs on the ECN which is strictly EST based. I think they said there was no way in Meta to separate the chart times from the execution times.
  • #4,928
  • Feb 16, 2010 8:50pm Feb 16, 2010 8:50pm
Hi All,

I know many of you got excited about our announcement about Meta Demo getting fixed the other day. Unfortunately, we slightly underestimated the demand people had. While we assumed that a lot of people would sign up over the next couple of weeks to check out the Demo environment again, the reality ended up being different. We ended up with several thousand demo accounts registering in less than 24 hours since we flushed the accounts and updated the system. That would be fine, except that there is a manual step for each of those accounts because they are linked to an underlying Nav Demo account and universal login. Because of a lot of changes that have occurred in the last few months, this process of flushing accounts will help guarantee that there aren’t discrepancies between Nav and Meta accounts. As we have said on these boards many times, Demo accounts are not activated after you create them until the next server shutdown/rollover at 5 pm EST. We had hoped to easily have everyone ready at today’s rollover, but due to the number of accounts, this just wasn’t possible. Therefore, we anticipate having everyone in the system properly (if you didn’t make today’s cut) by tomorrow’s rollover. At that point, everyone should be good to go.

Please note that if you try to trade repeatedly or attach an EA before your account is active, it results in rejected orders. If our support staff sees repeated rejects in an account, they will then deactivate the account for server pinging, which only delays your ability to get started. So we apologize for the delay and extra day of waiting on this for those whose accounts didn’t begin working after 5 pm EST today. We should have everything working by tomorrow, and then we look forward to hearing your feedback. Our Live environment remains stable, but we understand fully the importance that many of you place on a demo environment for testing purposes.
  • #4,929
  • Feb 17, 2010 9:23am Feb 17, 2010 9:23am
Quoting jleblang
Hi All,...
Justin...why does it take so loooong for my MT4 to start up. Even if I switch profiles or flip from my demo to my live account it seems like it takes forever to load up. It takes a long time even if there are not a lot of charts too. What gives with this?
  • #4,930
  • Feb 17, 2010 6:44pm Feb 17, 2010 6:44pm
liger86

You have a valid point.
I am not a big candle trader with just a few exceptions and I keep two different broker platforms open so I am not affected. On very rare occasions the closing time frame differences can affect trend lines but it has not been a real problem for me.
In a perfect world it would be convenient if we had a world wide standard for chart times. Yea if you start that campaign I will chime in with you.
  • #4,931
  • Feb 18, 2010 1:00am Feb 18, 2010 1:00am
Quoting Pip Dawg
Justin...why does it take so loooong for my MT4 to start up. Even if I switch profiles or flip from my demo to my live account it seems like it takes forever to load up. It takes a long time even if there are not a lot of charts too. What gives with this?
Mine comes up fast. I'd like to say thank you to Justin and the MBT team for a definitely improved Meta Demo environment. No crashes this week as promised and everything looking smooth so far!
  • #4,932
  • Edited 3:35am Feb 18, 2010 3:06am | Edited 3:35am
Justine
With MT4 I have been getting OFF Quotes with my live account!!
I have open position, can you help
  • #4,933
  • Feb 18, 2010 4:40am Feb 18, 2010 4:40am
Quoting wannatradefx
Mine comes up fast. I'd like to say thank you to Justin and the MBT team for a definitely improved Meta Demo environment. No crashes this week as promised and everything looking smooth so far!
Mine takes an amazingly long time. I have a 3G processer with 4G of ram. It shouldn't take this long.
  • #4,934
  • Feb 18, 2010 9:26am Feb 18, 2010 9:26am
Quoting egkid
Justine
With MT4 I have been getting OFF Quotes with my live account!!
I have open position, can you help
egkid,

Hopefully you have contacted support - if not, please visit: MBT Support and select MT4 LIVE CHAT or email [email protected].
  • #4,935
  • Feb 18, 2010 10:06am Feb 18, 2010 10:06am
Hey Justin,

I sent you a private message last week. Just seeing if you got it?
Cap
  • #4,936
  • Edited 12:00pm Feb 18, 2010 11:38am | Edited 12:00pm
Now, at this very moment, 10 seconds to see my orders in the MBT book !!!! Problems?
Edit: now (18:00GMT) 12 seconds. So today I can not trade.
  • #4,937
  • Feb 18, 2010 3:00pm Feb 18, 2010 3:00pm
[quote=aaceofspades;3461734]
Quoting aaceofspades
How does MB Trading handle margin calls in their system? If a position becomes slightly negative, will the system liquidate all or just the required part of the position to maintain margin? It's been a while since I've had a margin call, but I think I remember Navigator liquidating a portion of a position instead of completely closing it out?


I never did get an answer on this forum from jleblang or anyone else. Perhaps it was a stupid question or maybe nobody knew, so I made some calls and wrote emails...

After...
MetaTrader works the same way with all brokers and is an automated system. If your account dips under 100 to 1 by a penny, MetaTrader closes the entire trade of your biggest losing position (so if you only had one position, that's it).

With Navigator, MB is a lot more flexible. I've gone through this with them before. They combine a hands on approach until your account gets too far down.

Remember that they only license MT4, they can't change how it works.
  • #4,938
  • Feb 18, 2010 9:14pm Feb 18, 2010 9:14pm
[quote=IndyTrader;3477989]
Quoting aaceofspades

MetaTrader works the same way with all brokers and is an automated system. If your account dips under 100 to 1 by a penny, MetaTrader closes the entire trade of your biggest losing position (so if you only had one position, that's it).

With Navigator, MB is a lot more flexible. I've gone through this with them before. They combine a hands on approach until your account gets too far down.

Remember that they only license MT4, they can't change how it works.
so does that means MBT will for sure close our position if the margin falls below 50% as required or they will let it 'float' ard that level for a while 1st before closing it? is this the same for small acct and big acct balance?
  • #4,939
  • Feb 21, 2010 5:21pm Feb 21, 2010 5:21pm
So is the Demo environment fixed or not? My demo was deleted on the 15th, so I started a new demo account on the 16th. It worked until last Friday (19th), and then it went down again with No Connection. It still has not come back online.

Justin, can you please confirm because it is getting frustrating to start testing on a strategy, and then have it be interrupted and all records deleted.
  • #4,940
  • Feb 22, 2010 11:22am Feb 22, 2010 11:22am
Quoting Jb3
So is the Demo environment fixed or not? My demo was deleted on the 15th, so I started a new demo account on the 16th. It worked until last Friday (19th), and then it went down again with No Connection. It still has not come back online.

Justin, can you please confirm because it is getting frustrating to start testing on a strategy, and then have it be interrupted and all records deleted.
JB,

Please jump on Live Chat with our MT Support and they will help you. From what I can tell, all demos that were washed out and reset are working just fine.
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