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MB Trading Futures - Introduction

  • #5,401
  • Jun 16, 2010 8:17am Jun 16, 2010 8:17am
I'm guessing they had to restore from a backup or something, thus the mysterious open trades....both are trades I made and closed in the last day or so...

I still have no connection though...
  • #5,402
  • Jun 16, 2010 8:40am Jun 16, 2010 8:40am
Did anybody get back up yet? I'm still down...
  • #5,403
  • Jun 16, 2010 8:42am Jun 16, 2010 8:42am
no change in status....

connection still down,

2 open positions , long G/U, placed how I don't know.... Like you jdwbryan I had closed out 2 long G/U trades yesterday and the false trades are a replication so to speak..

This happened while I was asleep, I can't say this builds confidence in my trust factor with MBT..
  • #5,404
  • Jun 16, 2010 8:45am Jun 16, 2010 8:45am
Just spoke to MBT rep on the chat and he says they are working on it but so far no ETA...for those who are wondering...
  • #5,405
  • Jun 16, 2010 8:46am Jun 16, 2010 8:46am
Quoting MikeX
can anyone from MB tell us at least what is happening on the metatrader live server? I have a friend who has a live navigator account and he never encountered any disconnection. . .

is it safer to just switch to a navigator account?
Always better to be on Navigator...it's their own platform and rarely has issues, plus...many more order types.
  • #5,406
  • Jun 16, 2010 8:58am Jun 16, 2010 8:58am
Quoting IndyTrader
Always better to be on Navigator...it's their own platform and rarely has issues, plus...many more order types.
I like to use their mt4 platform, otherwise I think Thinkorswim is best broker I used so far...
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  • #5,407
  • Jun 16, 2010 9:05am Jun 16, 2010 9:05am
lol, mbt meltdown at its worst
  • #5,408
  • Jun 16, 2010 9:14am Jun 16, 2010 9:14am
I have some nice positions too lol, wonder if they will let me keep them
  • #5,409
  • Jun 16, 2010 9:24am Jun 16, 2010 9:24am
Group:

I am not ignoring your post, but I don't have all the answer yet. Please know we are working deligently to correct the issues including fixing your balances, positions and connections and once I know more I'll provide eveyone with a full report.
  • #5,410
  • Jun 16, 2010 9:25am Jun 16, 2010 9:25am
Quoting jleblang
Group:

I am not ignoring your post, but I don't have all the answer yet. Please know we are working deligently to correct the issue including fixing your balances, positions and connections and once I know more I'll provide eveyone with a full report.
nono, dont fix mine
  • #5,411
  • Jun 16, 2010 9:25am Jun 16, 2010 9:25am
working again, but with a 4 hour gap!

was alittle to quick, cut of again!
  • #5,412
  • Jun 16, 2010 9:36am Jun 16, 2010 9:36am
whats most funny, is that MBT didnt forgot to take comission for these positions

ROFL
  • #5,413
  • Jun 16, 2010 9:53am Jun 16, 2010 9:53am
Group-

Please be aware of the following while we work to correct the issue.

If you have T/P ONLY (no S/L) on a trade, those limit orders are sitting on the ECN, so if that price hit, you are filled even if Meta isn’t showing it. You can check this by logging into our website and viewing your account statements on-line in real time.

If you have S/L ONLY or S/L with T/P, the order is held in Meta and would not have executed if the price hit because of the disconnect.

If you have a PENDING LIMIT ORDER to enter a trade, it would also be sitting on the ECN just like a T/P.

Make sure that you check your account on-line. What you see there in terms of positions is accurate. If you see a position in Meta that you don’t believe is correct, please do not close it.

You can also log into our Desktop/Nav software to see your positions.
  • #5,414
  • Jun 16, 2010 9:55am Jun 16, 2010 9:55am
No Connection with MT4 , Well no broker is perfect but the difference how fast it takes to fixing it
  • #5,415
  • Jun 16, 2010 9:58am Jun 16, 2010 9:58am
My understanding from others brokers was that SL was held in the broker, and only TSL trailing stop loss required that the platform was running. Now you are saying that a regular hard SL needs MT4 running too? Makes no sense.

Quoting jleblang
Group-

Please be aware of the following while we work to correct the issue.

If you have T/P ONLY (no S/L) on a trade, those limit orders are sitting on the ECN, so if that price hit, you are filled even if Meta isn’t showing it. You can check this by logging into our website and viewing your account statements on-line in real time.

If you have S/L ONLY or S/L with T/P, the order is held in Meta and would not have executed if the price hit because of the disconnect.

If you have a PENDING LIMIT ORDER to enter a trade, it would also be sitting...
  • #5,416
  • Jun 16, 2010 10:16am Jun 16, 2010 10:16am
Quoting wwwin
My understanding from others brokers was that SL was held in the broker, and only TSL trailing stop loss required that the platform was running. Now you are saying that a regular hard SL needs MT4 running too? Makes no sense.
thats right

TP - are limits
SL - are market orders

Cruel MBT
  • #5,417
  • Jun 16, 2010 10:29am Jun 16, 2010 10:29am
Quoting jleblang
Group-...
Are you saying we could use Desktop/Nav software to trade even we are MT4 Client???
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  • #5,418
  • Jun 16, 2010 10:31am Jun 16, 2010 10:31am
Quoting wwwin
If that is the case, BS and cruel indeed, and time to get another broker. The issue should whether the order is sitting in the ECN or only on MT4, regardless of whether they are limit or market. Usually and unless there is additional functionality provided by the broker for you to choose otherwise, a limit order (both TP and SL) becomes a market order once the limit price is hit, that is why there is slippage, otherwise there should be no slippage at all. Only a Trailing Stop Loss should require that MT4 be running, as it is MT4 that modifies the...
There's no slippage on a Limit order. Ever.
  • #5,419
  • Jun 16, 2010 10:34am Jun 16, 2010 10:34am
Quoting wwwin
My understanding from others brokers was that SL was held in the broker, and only TSL trailing stop loss required that the platform was running. Now you are saying that a regular hard SL needs MT4 running too? Makes no sense.
Wwwin,

The problem is that the connection between Meta and the ECN is down. An ECN doesn’t hold a stop order. An ECN holds limit orders from banks and customers and other destinations (which creates the market) and accepts market orders to execute against those limits. A stop is held by the software that is monitoring the price and then fires a market order at the ECN once the price hits. The problem is that our Meta is currently disconnected from the ECN itself, so it can’t send those orders to the ECN.

So to be clear based on what you referenced.

 

  1. Trailing stops in MetaTrader are handled by the Client MT4 software. That means that your software needs to be running for the trailing stop to work.

  1. Stops on our MetaTrader are held in our MetaTrader servers and are sent to the ECN for execution when the price hits. The current problem is between the Meta servers and the ECN, so these aren’t working.

  1. Limits on our MetaTrader are sent instantaneously to the ECN. So any Limits (which can be PENDING LIMITS to enter a trade or T/P alone on an existing position) that were already in before we were disconnected are already on the ECN and can execute. However, with the connection down, none of these can be changed and no new orders can be sent from Meta.

  1. Also, please note that the Nav/Desktop accounts are direct connect without an extra layer, which is why the Nav/Desktop accounts are still working. Every Meta account has an underlying Nav account, so if you log into the website or our Nav/Desktop software right now, you can see if any positions closed due to a Limit hitting. Whatever you see in Nav/Desktop is correct.

We are working to resolve the problem on the Meta end and hope to have it fixed shortly.

  • #5,420
  • Jun 16, 2010 10:36am Jun 16, 2010 10:36am
Quoting wwwin
If that is the case, BS and cruel indeed, they slip you on the loss but not on the profit in a fast moving marekt in your favor?, if this is the case, time to get another broker. The issue should whether the order is sitting in the ECN or only on MT4, regardless of whether they are limit or market. Usually and unless there is additional functionality provided by the broker for you to choose otherwise, a limit order (both TP and SL) becomes a market order once the limit price is hit, that is why there is slippage, otherwise there should be no slippage...
Look, SL are just an alert to MBT. When the price reaches that level, MBT opens it quotes and starts a slow and boring search and negotiation session to close you I had SL slips at 10 pips and worse myself
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