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MB Trading Futures - Introduction

  • #6,321
  • Jan 26, 2011 4:49pm Jan 26, 2011 4:49pm
Quoting Adal
Now if you could only solve your reliability issues

I'm not sure about real, but your demo Quote API disconnected 18 times during the last 30 minutes (think FOMC), after 20 hours of working flawlessly (no disconnect).
Adal,

Our quote API does not have disconnect logic, so if the application your using is disconnecting, we need to explore this further together. Could you please email specific details to [email protected].
  • #6,322
  • Jan 26, 2011 10:16pm Jan 26, 2011 10:16pm
Quoting jleblang
Ybfjax,

Let me clarify.....
Excellent clarification. Makes perfect sense now.....all of it. To give a summary, just placing limit (or stop limit) orders alone does not automatically qualify you for the bonus. At the exact time the limit portion of the order is received at the ECN (ask if buying and bid if selling), the limit price must be below (buy) or above (sell) the current bid/ask price.

Quote
...Regarding your second point, yes, I would agree that given a short period of time (since people will have to program this), we will see exactly this use of the system, and I will have other good news about the points you made soon…very soon…

Look forward to hearing about this. Thanks also for the email (the one sent to all clients). It's communications like this that keep people abreast of what's going on.

Quote
For the third point, the API does not yet have coding to only send non-marketable limits, but when you get a positive commission credit instead of a fee, you know you had one. ....

I'm surprised that the MB Desktop client or API has not been updated to reflect this unique order. Look forward to this update also. Particularly a checkbox or additional order type that will be more of an "non-marketable only" order. This way, if the market moves between the time the order is sent and when the ECN receives the order, the ECN can auto-reject if the market has moved unfavorably (in the sense that the trader would have to pay a commission).
Measure trends automatically with zero lag
  • #6,323
  • Jan 27, 2011 2:55am Jan 27, 2011 2:55am
Now I got a good reason to join MBT and maybe leave O too!

Good work MBT!
  • #6,324
  • Jan 27, 2011 5:05am Jan 27, 2011 5:05am
I'm doing a happy dance on this one too! I've been a long time client of MB Trading (& EFX Group) and have recently found my way to profitability(it's all about MM folks). I have really been enjoying the positive pipflow in my account and this announcement means I'll be pocketing a little more on each trade without any extra effort. MBT FTW!

I had been mainly using market orders (I'm a short term trader), but since the announcement, I have shifted to limit orders and I think it has helped me plan my trade and trade my plan much more. When you are waiting to get in/out at market, it's easy to jump the gun and get out before price reaches s/r. I am finding the limit orders are helping me be patient and get more pips as a result.

As for those questioning the liquidity and fills of MBT, I have found them to be fantastic. It is COMMON, to get fills better than market. Here's an example from tonight at 2:02PM PST. I had a limit order set at 131.72 on GY. On Navigator charts, price never went above 131.715, but I got filled at 131.72. That's not getting a better fill than limit, that's getting a price that never printed!

Another one yesterday(there were several, usually about .5 pip), I had a sell limit on EU at 1.3671 and got filled at 1.36725. Bonus!

I'm stoked that MBT is my broker. Recently I was considering switching to Interactive because of sub-accounts and debit card, but I chose not to, mainly because for years I have been very satisfied with MBT's service and they have earned my trust and business.

Justin, any chance MBT will allow sub accounts in the future? The way IB lets you segregate a single pool and have position sizing/trading perms/etc. handled on the backend is streamlined and convenient, whereas client-side MAT/Multiple Accounts-IMHO is clunky, slow, inconvenient and actually affects my bottom line negatively because of it's speed/difficulty.

But anyway, thanks for the $1.95! Don't worry, I'll still use market and market-able limits too, just so you can make some...
  • #6,325
  • Jan 27, 2011 5:29am Jan 27, 2011 5:29am
I hope MBT will offer multiple sub accounts too because I am running a few strategies, which may trade in different direction with different position sizing.
  • #6,326
  • Jan 27, 2011 5:36am Jan 27, 2011 5:36am
I have a legitimate question here for Justin , if have a limit order already seen to everyone then i want to amend it , at the time i moved my limit ( drag and drop on the order book ) it became marketable-limit order , but it was available to everyone before i moved it , i will get paid or i will pay ?
  • #6,327
  • Edited 8:13am Jan 27, 2011 8:10am | Edited 8:13am
Tar, Justin already answered your question in his answer to me (#6296):

Quote
Just keep in mind that if you keep changing a Limit price, each change is a “new order” in terms of measuring whether you get paid 1.95 per 100,000 or get charged 2.95 per 100,000. If an automated system cancels one limit and goes to replace it with a new price, but in that millisecond, that price is now available in the market, you have sent a marketable order.
So in order to get the credit, your new limit price has to be below the ask (buy) or above the bid (sell) at the moment the ECN receives it. Each time you amend an existing order, the ECN treats it as a cancel of the old order and a placement of a brand new order. You lose your place in line.

To some extent, this is beyond your control, because in the moment between the time that you send your new order, and the time the ECN receives it, someone else could have sent a new sell limit order that lowers the ask and turns your limit order into a marketable limit order. In that case, you pay the 2.95, and they get the 1.95.

But, over the long haul, if you set your new limit price judiciously, it should be possible to receive the 1.95 the vast majority of the time.

At least, that's how I'm understanding it. Justin, let me know if I don't have this right ;-)
____________
Look deeper...
  • #6,328
  • Jan 27, 2011 8:20am Jan 27, 2011 8:20am
Quoting LookDeeper
Tar, Justin already answered your question in his answer to me (#6296):

So in order to get the credit, your new limit price has to be below the ask (buy) or above the bid (sell) at the moment the ECN receives it....
Thanks ... my question about ( drag and drop in the level 2 window ) but yeah maybe it is the same like what u explained ...
  • #6,329
  • Jan 27, 2011 8:45am Jan 27, 2011 8:45am
Quoting tar
I have a legitimate question here for Justin , if have a limit order already seen to everyone then i want to amend it , at the time i moved my limit ( drag and drop on the order book ) it became marketable-limit order , but it was available to everyone before i moved it , i will get paid or i will pay ?
If you change your Limit, the order is effectively cancelled and a new one is processed. That means that the change is treated as a new order.
  • #6,330
  • Jan 27, 2011 9:11am Jan 27, 2011 9:11am
Hi Justin

What is the reasoning(thinking)/advantage to MB trading/clients to change from EST(GMT-5) to GMT+2? I'm thinking if it's changed on the Demo platform it is just a matter of time before it is applied to the live platform.

cheers
goldsurfer
  • #6,331
  • Jan 27, 2011 9:49am Jan 27, 2011 9:49am
Quoting Crassius
If you fail to see how this innovation benefits traders perhaps you would be better off betting on horses, and forgetting about FX altogether.

That way, instead of blaming your failure on your broker, your IB, your platform, your internet connection etc. you can blame your losses on the jockeys, the ponies, the groomes, the track surface, anything except where your losses really come from.... your own actions.

Just another kiss-up perk lover.

To each his/her own opinion. However , Your response has nothing to do with my post, you just rambled something about loosing and gambling? Where's the innovation in that
"Look Left Think Right"
  • #6,332
  • Edited 10:29am Jan 27, 2011 10:16am | Edited 10:29am
Quoting CurrencyAnalyst
Just another kiss-up perk lover.

To each his/her own opinion. However , Your response has nothing to do with my post, you just rambled something about loosing and gambling? Where's the innovation in that
Seems obvious you are not fond of MBT, so who is your broker ?

Or better yet, as the Currency Analyst in your opinion who is the best broker, surely not MBT?

cheers all
  • #6,333
  • Jan 27, 2011 10:34am Jan 27, 2011 10:34am
I have MB, IBFX, OANDA, PFG, Think-Or-Swim.

I must say that Ibfx has dramatically improved, fills have been almost too good to believe from an STP.
Oanda excellent fills I dont trade news so have no issue with the wide spread everyone complains of (mostly scavengers and new traders)

PFG Excellent ECN Forex, Decent Futures side as well.

Think Or Swim Very reliable Best for futures. They also show an order book for spot similar to futures price ladder.

MB Well""" I have not been impressed with stalls on filling orders AFTER they were accepted. I had a previous post regarding this and some hecklers here twisted it to imply I had a internet connection issue, No! it looks like something on the inside.

With saying that my next post will be a question for Justin.
"Look Left Think Right"
  • #6,334
  • Jan 27, 2011 10:36am Jan 27, 2011 10:36am
Quoting CurrencyAnalyst
I have MB,...
Ok Thanks for response, I will keep an eye out as I have not seen this problem.

cheers
  • #6,335
  • Jan 27, 2011 10:39am Jan 27, 2011 10:39am
Justin LeBlang: Can you clerify for me that MB trading is not using The Virtual Dealer Plugin Or anything that would create the same type order control aspects, ECN is merely the front side with MT4 being the user access interface, that being said I just want to clear the air
regarding this.


Oanda specifically mention the fact that they DON’T use the MT4 Virtual Dealer plugin is a BREATH OF FRESH AIR. This is the FIRST broker that I know who have explicitly stated this. I even challenged MB Trading on this a few months ago, and they were not able to deny it. In fact, I would go as far as to say, on this basis alone, Oanda’s MT4 is something that should definitely be recommended.

This is link where above text was sourced:

http://forexmagnates.com/oanda-attai...s-metatrader-4
"Look Left Think Right"
  • #6,336
  • Jan 27, 2011 10:42am Jan 27, 2011 10:42am
Quoting CurrencyAnalyst
Justin LeBlang:...
you should take a look at this:

Inserted Video

Inserted Video

Inserted Video
I'm not insane; my mother had me tested.
  • #6,337
  • Jan 27, 2011 10:54am Jan 27, 2011 10:54am
I thought I asked a simple Yes or No question.
What's with the tripple video expose?
"Look Left Think Right"
  • #6,338
  • Jan 27, 2011 11:02am Jan 27, 2011 11:02am
Quoting CurrencyAnalyst
Justin LeBlang:...
Since he answered your question in the link you provided, what clarification are you asking for?

cheers
  • #6,339
  • Jan 27, 2011 11:03am Jan 27, 2011 11:03am
Quoting CurrencyAnalyst
I thought I asked a simple Yes or No question.
What's with the tripple video expose?
those videos are made by MBT and they answer your question and lot of other things...
If you are interested only in a simple yes/no answer than that would be "No", but i am not Justin and it seems you wanted to hear it from him.
I'm not insane; my mother had me tested.
  • #6,340
  • Jan 27, 2011 11:08am Jan 27, 2011 11:08am
Quoting RoBiK
those videos are made by MBT and they answer your question and lot of other things...
If you are interested only in a simple yes/no answer than that would be "No", but i am not Justin and it seems you wanted to hear it from him.
Justin, would that be a Direct answer No from you?
"Look Left Think Right"
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