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MB Trading Futures - Introduction

  • #5,841
  • Sep 19, 2010 2:20am Sep 19, 2010 2:20am
Probably you have heard that if your are win-
ning regularly in forex, you may be barred from
trading. Is this true? Yes it is. The fact that
is true is just another proof that when you
trade forex you are trading at a bucket shop.
In the book, "Reminiscnces of a Stock Operator,
" we are told that Jesse Livermore was banned
from trading a certain stock brokers because
they couldn't stand him beating the housel. The
same thing is true with many forex brokers.
Since they are the ones guaranteeing you a fill
they in effect the buyer and seller of last re-
sort. The truth is that most forex brokers have
precious little liquidity at their firms. In
order to give you the impression that there is
liquidity, it is the broker who gives you your
fill. It is the broker who does the stop run-
ning that supposedly doesn't exist in forex.
But if you are regularly beating the socks off
the broker, he will ban you from trading at his
firm.
Now you know the truth about forex. I challenge
any and all forex brokers to prove that I am
wrong.
  • #5,842
  • Sep 19, 2010 7:26am Sep 19, 2010 7:26am
Gee , lets see here.

O.k. Anyone that has been "barred" from trading at MBT because you were winning too much please step up to the microphone......

waiting......waiting..... .... .... .....
  • #5,843
  • Sep 19, 2010 7:38am Sep 19, 2010 7:38am
None of 5% trader are at ff lol.
/taps fingers in anticipation
making green pips large and red pips small this is my goal.
  • #5,844
  • Sep 19, 2010 11:25am Sep 19, 2010 11:25am
Quoting sg_trader
Why is mbtrading's overnight swap rate so high? Other ecn brokers are offering positive swap rate while mbtrading's swap rate is super negative. Why is this so? Is there anyway to reduce the swap rate?
sg,

Would you provide me with a list of other ECN brokers and the rates you are seeing, so we can take it back and negotiate better rates from our prime brokers?
  • #5,845
  • Sep 19, 2010 1:11pm Sep 19, 2010 1:11pm
After performing exhaustive 15+ broker reviews, MB Trading is definitely is at the top of the list at #1 as the most expensive with SWAP rates. If you ever trade with possibility of overlapping the trading day(s), do not choose MB Trading as your broker. Their demo is also the worst, because if you ever need to reset an account, you will also have to wait til the new trading day so the system can be reset. There are no other brokers with these last two issues I discuss. If other MT based brokers do not have these issues, why does MB Trading?
  • #5,846
  • Sep 19, 2010 1:15pm Sep 19, 2010 1:15pm
Quoting pinoyboy
After performing exhaustive 15+ broker reviews, MB Trading is definitely is at the top of the list at #1 as the most expensive with SWAP rates. If you ever trade with possibility of overlapping the trading day(s), do not choose MB Trading as your broker. Their demo is also the worst, because if you ever need to reset an account, you will also have to wait til the new trading day so the system can be reset. There are no other brokers with these last two issues I discuss. If other MT based brokers do not have these issues, why does MB Trading?
Post your results so he can see please.

Then he can do something about it.

That is what he asked for.
making green pips large and red pips small this is my goal.
  • #5,847
  • Sep 19, 2010 1:42pm Sep 19, 2010 1:42pm
I posted my results, if the broker wish to see it themself, then open up their own demo and see for themself. I am simply pointing it out, not wanting to be Quality Assurance rep for them.

1 - To replicate this, open a trade 10 minutes before rollover for MB Trading and leave it open. You will eventually see it if it passes rollover time. As of last week, this was noted in previous threads.

2 - Open the demo and try to reset the account at anytime, you will see that you cannot log in any more until the rollover or new trading day. The support people also atest to this fact as a "normal" fuction; that you have to wait until rollover to have the new account working. Again, only broker I know on MT4 with this limitation.

These are very easy to see and identify.
  • #5,848
  • Sep 19, 2010 1:52pm Sep 19, 2010 1:52pm
Quoting pinoyboy
I posted my results, if the broker wish to see it themself, then open up their own demo and see for themself. I am simply pointing it out, not wanting to be Quality Assurance rep for them.

1 - To replicate this, open a trade 10 minutes before rollover for MB Trading and leave it open. You will eventually see it if it passes rollver time.

2 - Open the demo and try to reset the account at anytime, you will see that you cannot log in any more until the rollver or new trading day.

These are very easy to see and identify.
He asked for a list of the brokers and there rates no point complaining if you can't simply post your exhaustive research .
You have done all the work just post it please.
then he may be able to do something about it.
And it will benefit all.
I would like to see how they compare, thankyou.
making green pips large and red pips small this is my goal.
  • #5,849
  • Sep 19, 2010 1:57pm Sep 19, 2010 1:57pm
I did my "exhaustive" search myself for my benefit and it was not meant to be formal; before I opened an account, I wanted to make sure I chose the right one for ME. However, my point is still factual and true based on the brokers I have reviewed on my thread about 10 Brokers on the Brokers section. I do not plan to make this formal for anyone, but rather to point out the items that individuals should consider in their own review. I've never had traded for MB Trading (LIVE) so I am not at all familiar with their LIVE platform, but these two items of concern are reasons enough I would not choose them from their DEMO (Demo is closely representative of the LIVE isn't it - technically and functionally). Not complaining, but stating facts.

Please see my "non-formal" personal review of the ten brokers in the Brokers Section. http://www.forexfactory.com/showthread.php?t=235595 - As you shall see if you read the one page thread, the purpose is one person's review of the top brokers out there to help someone - to get a newbie started. Don't try to make this a formal issue - just read the mentioned thread.
  • #5,850
  • Sep 20, 2010 7:34am Sep 20, 2010 7:34am
Quoting pinoyboy
After performing exhaustive 15+ broker reviews, MB Trading is definitely is at the top of the list at #1 as the most expensive with SWAP rates....
Because they are an actual STP/ECN platform and no one else you are looking at is. Thanks for coming by.
  • #5,851
  • Sep 20, 2010 8:34am Sep 20, 2010 8:34am
On the list I had, what about ATC Brokers and Amifx? ATC Brokers is ECN/STP aren't they with feeds from FXCM? AmiFx calls theirs DMA, but essentially it is ECN/STP (this is even listed on the pdf provided by jleblang talking about MB Trading's platform - it included Amifx). Thanks.
  • #5,852
  • Sep 20, 2010 4:37pm Sep 20, 2010 4:37pm
Quoting jleblang
In addition, several other currencies as base accounts are about to be available.
[FINALLY!].

Looking forward to Kangaroo Bucks being offered.
  • #5,853
  • Sep 21, 2010 1:53pm Sep 21, 2010 1:53pm
Data was lagged during FOMC again. There was even a bad tick or stale pricing (bid@~1.3110) 2 minutes after the announcement, resulting in a 50 pip spread for a few seconds. Doubt it was a tradeable price tho, no other feed had that. Theres much room for improvement, to put it mildly. Dont trust mb data during the first few minutes after figures, because chances are the market is somewhere else than what you see. This needs more/better hardware and/or bandwith.
  • #5,854
  • Sep 21, 2010 2:06pm Sep 21, 2010 2:06pm
Quoting shrike
Data was lagged during FOMC again. There was even a bad tick or stale pricing (bid@~1.3110) 2 minutes after the announcement, resulting in a 50 pip spread for a few seconds. Doubt it was a tradeable price tho, no other feed had that. Theres much room for improvement, to put it mildly. Dont trust mb data during the first few minutes after figures, because chances are the market is somewhere else than what you see. This needs more/better hardware and/or bandwith.
Agree Bro
Hope to see improvement about this.
  • #5,855
  • Sep 21, 2010 6:23pm Sep 21, 2010 6:23pm
Hi Justin,

Sometime in the last couple of months Desktop Pro started to use midnight EST to calculate daily pivots instead of rollover at 5pm EST. This obviously skews the data. Any idea when this will be corrected? Thx.
  • #5,856
  • Sep 22, 2010 4:57am Sep 22, 2010 4:57am
I went to both of your metatrader trainings this week, they were really good. I never knew ECN mattered so much to the trader. Last night was great too because he taught me a few things about metatrader I didn't know. This is a great service you guys provide, thanks!

- Jerry
  • #5,857
  • Sep 22, 2010 5:21am Sep 22, 2010 5:21am
any chance to see the webinar being recorded? I can't attend the webinar coz it's my sleeping time.
  • #5,858
  • Sep 23, 2010 9:23am Sep 23, 2010 9:23am
Quoting shrike
Data was lagged during FOMC again. There was even a bad tick or stale pricing (bid@~1.3110) 2 minutes after the announcement, resulting in a 50 pip spread for a few seconds. Doubt it was a tradeable price tho, no other feed had that. Theres much room for improvement, to put it mildly. Dont trust mb data during the first few minutes after figures, because chances are the market is somewhere else than what you see. This needs more/better hardware and/or bandwith.

Attached is a screen shot from the Zenfire datafeed charting the 6E EU Futures contract at the FOMC announcement. You can see that the market traded at least one contract below 3110.

EDIT (Actually at least two, at least one on the red candle and at least one on the green candle)

That is a tick chart where each tick represents one trade. A real, actual changing of ownership of a contract.

The market really did get that low.

You need to get over the fact that prices fluctuate wildly for a few seconds around a major news announcement. It just the way FX markets work, being heavily news driven.

Because you are looking at real marketplace on the ECN, you are seeing every bid/offer....

A deal desk broker might not show the wild fluctuations... they requote you, requote, requote, requote etc.

Just adjust your trading for it.
Attached Image (click to enlarge)
Click to Enlarge Name: FOMC_Price_Action.png Size: 32 KB
  • #5,859
  • Sep 23, 2010 11:20am Sep 23, 2010 11:20am
I'm well over the fact that markets get busy over FOMC and that there are big spreads and potential slippage involved. That's why i dont click into such a mess. What i do expect however is accurate marketdata, even if i wont trade immediately after such an announcement.

Marketdata servers and the severs that do the actual execution are two different things. What im saying is that their marketdata is laggy/faulty during the first ~3 minutes after big figures. Execution would probably be the same like everywhere else, but the displayed marketdata is off. I saw that time and time again (the last 2 NFPs were the same). Price on mbt-nav would do the same like everywhere else, just 20 seconds or so late. Its obvious that the marketdata server cant handle the workload.

And if you are going to compare MB data to the future, do it right. I attached a 10-second chart of 6E and mbt below. MB-data is the lower chart. See i.e. the vertical blue line - the future closed that candle at 50, the mb candle at 75. On MB 50 occured 2 bars later (=20 seconds late).
Attached Image (click to enlarge)
Click to Enlarge Name: MBT-FOMC.jpg Size: 146 KB
  • #5,860
  • Sep 23, 2010 11:28am Sep 23, 2010 11:28am
Quoting hamlet
I went to both of your metatrader trainings this week, they were really good. I never knew ECN mattered so much to the trader. Last night was great too because he taught me a few things about metatrader I didn't know. This is a great service you guys provide, thanks!

- Jerry
Thank you Hamlet!
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