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MB Trading Futures - Introduction

  • #5,201
  • Apr 30, 2010 12:52pm Apr 30, 2010 12:52pm
Today two operations in demo. In one it did not get the target and with the second it did not get the stop loss!!!


Does it also happen with real accounts?
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  • #5,202
  • Apr 30, 2010 2:44pm Apr 30, 2010 2:44pm
Quoting jleblang
Skyhook,

I assume that you called the desk to report the trade and got it fixed? If not, can you contact me via private or email with your account info so I can research the trade? Send order ID too please.


[email protected]
PM Sent
  • #5,203
  • Apr 30, 2010 11:49pm Apr 30, 2010 11:49pm
Quoting Dibanos
Today two operations in demo. In one it did not get the target and with the second it did not get the stop loss!!!


Does it also happen with real accounts?
YES it IS. Beware - StopLosses and Limit fills are Client based AFAI noticed!
  • #5,204
  • May 1, 2010 2:21am May 1, 2010 2:21am
Quoting Ulterior
YES it IS. Beware - StopLosses and Limit fills are Client based AFAI noticed!
What is AFAI? I call BS on this.
  • #5,205
  • May 1, 2010 2:30am May 1, 2010 2:30am
Quoting wannatradefx
What is AFAI? I call BS on this.
AFAI = As Far as I...(know)

He forgot the K to make it as far as I know
  • #5,206
  • May 1, 2010 3:15am May 1, 2010 3:15am
Quoting Skyhook
AFAI = As Far as I...(know)

He forgot the K to make it as far as I know
Correct
  • #5,207
  • May 1, 2010 3:16am May 1, 2010 3:16am
Quoting wannatradefx
What is AFAI? I call BS on this.
I call DS on this
  • #5,208
  • May 1, 2010 7:12am May 1, 2010 7:12am
Quoting Ulterior
StopLosses and Limit fills are Client based AFAI noticed!
Is this true Justin??? If I close Metatrader SLs stop working???
  • #5,209
  • May 1, 2010 11:25am May 1, 2010 11:25am
Quoting Trad3r
Is this true Justin??? If I close Metatrader SLs stop working???
Trailing stops will stop working. If you have set a hard stop, that goes to their server and will function regardless.
  • #5,210
  • May 1, 2010 3:29pm May 1, 2010 3:29pm
Hi guys,

Stops are definitely located on the broker's server. I run my EA's off a VPS and if I log into my account concurrently from my PC, I can see the stops. This would not be the case if my stops were located on the trade terminal on the VPS.

The question we need to ask Justin, is what if a trade goes past my server based stop and this stop is not honored........it has the potential to damage my account quite considerably. What is the MB Trading take on this matter since the nature of a stoploss is set and forget. If the stops at MB Trading are unreliable, surely this is a problem? It does not matter to me that the fault was not with MB Trading but the fact is, a stop that is honoured randomly is far more dangerous than trading without a stoploss.
  • #5,211
  • May 2, 2010 12:40am May 2, 2010 12:40am
Quoting wannatradefx
What is AFAI? I call BS on this.
I second that...and agree with Skyhook and KennyH. The only stops that are client side are trailing stops...or those "hidden" stops that some EA's use to hide your stop from bucketshops. I also run my account on a VPS, plus two computers at home, and my stops always show on all terminals. So either you are talking about a trailing stop, using an EA with a "hidden" stop, or don't know what you are talking about.

As far as a stop not getting triggered, I believe that can happen with any (and every) broker out there...at least by a few pips. Also I believe if price gaps badly (on the weekend for example) you might get stopped out with a much bigger loss than you wanted...but AFAIK, that will happen with any broker.

Please correct me if I'm wrong.

Jack
  • #5,212
  • May 2, 2010 1:21am May 2, 2010 1:21am
Hi Jack,

Quote
As far as a stop not getting triggered, I believe that can happen with any (and every) broker out there...at least by a few pips. Also I believe if price gaps badly (on the weekend for example) you might get stopped out with a much bigger loss than you wanted...but AFAIK, that will happen with any broker.

Please correct me if I'm wrong.

Nope this is not correct.....we are not talking about a simple bad fill here and some slippage. We are talking about their systems not coming back from rollover and your open trades being locked out of the system. The stops are completely ignored and the ONLY way out of the trade is to phone in when you eventually see the problem.

In theory you are correct about it being possible at all brokers, however, I am not experiencing this at my other brokers but I have experienced it several times at MB Trading.

I think the message here is pretty clear. MB Trading is not doing this on purpose and they are doing their best but you should not leave your EA's(or stops) unattended .
  • #5,213
  • May 2, 2010 1:38am May 2, 2010 1:38am
Quoting kennyhubbard
Hi Jack,



Nope this is not correct.....we are not talking about a simple bad fill here and some slippage. We are talking about their systems not coming back from rollover and your open trades being locked out of the system. The stops are completely ignored and the ONLY way out of the trade is to phone in when you eventually see the problem.

In theory you are correct about it being possible at all brokers, however, I am not experiencing this at my other brokers but I have experienced it several times at MB Trading.

I think the message here...
Oh I gotcha...I didn't realize you meant trades getting "locked up".

Jack
  • #5,214
  • May 2, 2010 1:03pm May 2, 2010 1:03pm
Is the Demo server offline? I have been unable to access since Friday.
  • #5,215
  • May 2, 2010 3:03pm May 2, 2010 3:03pm
Quoting Trad3r
Is this true Justin??? If I close Metatrader SLs stop working???
As far as I know MT4 has one crucial limitation. All orders, once they are "triggered" get sent to the market as a market order. That is to say there are no true "at price or better" limit and stop limit orders.

So if you have a stoploss in place it remains on the server, however when the stop price is hit, MT4 then sends an order to close the order. This order that is sent is a market order. so if price is moving quickly enough in the 1/2 sec or so it takes for the stop to trigger and the market order to be sent you could see some slippage.

You have to remember MT4 was designed for a dealdesk environment.....Metaquotes is not in the business of making money for the traders with their free client software. They are in business and get paid to increase the brokers bottom line.

MBT has done a great thing to remove the back end and get MT4 working within their ECN. MT4 was just not designed to be as flexible as something like Nav or Nav Pro. So if your going to trade via MT4 you should be aware of its limitations. I myself trade via MT4, even though I know I would have more control and flexibility using NAV.
  • #5,216
  • May 2, 2010 10:23pm May 2, 2010 10:23pm
I have trouble reading the running P&L balances in the Account Balances window in Nav. It is either a light green for profit or red for loss against a light grey background. There is not enough contrast for me. Perhaps it is the thinness of the numbers. Maybe boldface would be more visible. Whatever the fix, I sure hope there is one. Maybe there is a skin that I don't know about. Anyway, I have not been able to find settings in Preferences that would address this problem in this particular window. Any ideas?

Thanks in advance.
  • #5,217
  • May 3, 2010 12:29am May 3, 2010 12:29am
Quoting Trad3r
Is this true Justin??? If I close Metatrader SLs stop working???
No, only trailing stops, which are client-side based and require you to leave MT4 running. Any other stop, you don't need to run your software.
  • #5,218
  • May 3, 2010 2:29pm May 3, 2010 2:29pm
Thanks for the info. I'm searching for an honest broker but as you know it is a rather unsavoury group we have to work with. I'm giving MB a trial run without applying serious funds. I'm alarmed by these comments. Wannatradefx is certainly spreading the positive propaganda for this brokerage, however, his credibility is severely undermined by his views on world politics, ie foreign financial regulatory bodies bending over and taking orders from the same uncle Sam that brought us the great recession, and secondly from the fact that nobody in the forum has vouched for him. I certainly do hope his comments on this brokerage are truthful, but I will let you all know by the end of this month just what the truth is about the current state of this shop.

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.[/quote]
  • #5,219
  • May 3, 2010 2:36pm May 3, 2010 2:36pm
Actually Challenger, FIFO makes no difference, and hedge funds generally use more sophisticated options strategies to apply hedges to their portfolios, rather than simply opening simulatenous offsetting positions which inevitably leads to more slippage, more potential for user error due to a weak strategy, and you are paying more spread. When you really think about it it's a useless function that does not benefit the trader, moreover it is designed by the retail brokers for the retail brokers. Heads up, it's scam city out here in retail world, wholly unregulated, totally unscrupulous.

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.
  • #5,220
  • May 3, 2010 2:44pm May 3, 2010 2:44pm
Lehmans, Merrill, Bear Stearns, AIG... and this was a regulated US industry. I'm not going to blow my country's own horn but in Canada we didn't have any of these grand criminal acts that lead to the largest wealth transfer in the recent centuries, possibly in all of history. A little regulation can go a long way especially if it is limited to overall transparency. Nobody is saying you need to tie the invisible hands of capitalism, but you need to know what the hell they are doing. I worked as interbank currency options broker, broking all greeks between the banks, their way of sharing the risk and gaming the system. The truth is ugly. Markets only work when they are open and fair, this is basic market efficiency theory, and it does not exist today. I hope they get it right, but then again, my country weathered the storm and now we are relatively a lot richer than we were before due to our neighbours clusterfaks, well, maybe we just do it again, ya, then I'll trade my crummy cabin in the sticks for a Florida Mansion...

Quoting Bazuka77
Just for clarity, when I was referring to the possible future reduction (for some again) of Margin or Leverage I was not referring to 100 to 1 , which for me and others is more than enough!...
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