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MB Trading Futures - Introduction

  • #6,381
  • Jan 31, 2011 12:54pm Jan 31, 2011 12:54pm
Quoting jleblang
roldreth,

Market Depth shows 10K.
I thought so too, but wasn't sure.
thx!
"hey hey what can I do"
  • #6,382
  • Jan 31, 2011 5:06pm Jan 31, 2011 5:06pm
Big ice storm and heavy snow expected for Indy area. See loss of power heading our way.

Have cell phones charge up.

Trade Desk: 1-866-628-3003.
  • #6,383
  • Jan 31, 2011 5:30pm Jan 31, 2011 5:30pm
Quoting roughtrader
Hello Justin, I was considering you but you only offer 50:1 I can't do 50:1! I need minimum 100:1, some of your competitors are offering 100:1 so the choise is easy, if you can give me 100:1 I will take your offer
Roughtrader,

As you should know, US brokers are not allowed to offer 100:1 leverage.
  • #6,384
  • Jan 31, 2011 5:31pm Jan 31, 2011 5:31pm
Quoting roughtrader
and at the same time you have no dealing desk? :O can you please tell me how that add up!?
Roughtrader,

Not sure what you mean. A deal desk is a group of guys sitting around creating pricing for you to trade against, and they take the other side of your trade and spend their day trying to profit on the trading. We do not create our own pricing, as we have shown in the MT4 videos on the YouTube page of our site. However, that is not the same as an Order Desk, which means customer support personnel who stand ready 24/6 to take your orders over the phone in case you aren’t at a location where you can place them or change them (or if you have tech issues and need them). We also have a 24/6 support group that can teach you our software products.
  • #6,385
  • Jan 31, 2011 5:51pm Jan 31, 2011 5:51pm
Quoting roughtrader
Hello Justin, I was considering you but you only offer 50:1 I can't do 50:1! I need minimum 100:1, some of your competitors are offering 100:1 so the choise is easy, if you can give me 100:1 I will take your offer
Surely you know you can get the same 'effect' by doubling your intented position size., ie., instead of risking 2% on 100:1, risk 4% on 50:1.

The real problem is the inability to be long and short in the same pair. Banks, hedge funds and speculators can do it, but the NFA has deemed it "bad" for retailers. If one can learn to trade properly, it should be quite acceptable to be up 500+ pips on a pair (ie., EURUSD from 1.29/130), and catch a 30-50 pip smaller lot retracement in off-hours, end-of-day, news, etc. The inability to do so is a major profitability cramp and illegitimate IMO. Exiting your position as the solution is sacrilegious, and is guaranteed to minimize profitability, while solely benefiting the broker.

But it's forces beyond MB involved here. Ultimately, they will open a European office, so perhaps that will offer respite to some.
  • #6,386
  • Jan 31, 2011 7:51pm Jan 31, 2011 7:51pm
Quoting Beljevina
Surely you know you can get the same 'effect' by doubling your intented position size., ie., instead of risking 2% on 100:1, risk 4% on 50:1.

The real problem is the inability to be long and short in the same pair. Banks, hedge funds and speculators can do it, but the NFA has deemed it "bad" for retailers. If one can learn to trade properly, it should be quite acceptable to be up 500+ pips on a pair (ie., EURUSD from 1.29/130), and catch a 30-50 pip smaller lot retracement in off-hours, end-of-day, news, etc. The inability to do so is a major...
I have to disagree about the hedging thing. If I'm long the EURUSD and in the money 500 pips (as your example), there's no difference if I close the position, go short, get a 30 pip pullback, and close and go long, then eventually get to a final exit place and get out. The only reason that hedging existed (and correctly was nixed by the NFA) is because it simply allows a broker to charge double swaps if you hold these positions over. The accounting doesn't change. If I buy at 1.3000, sell at 1.3500, buy at 1.3470, and sell at 1.3600, it doesn't matter if you put the first two and last two together or the first one with the last one and the middle two together. Net account balance and profitability are the same. Hedging is a scam for the brokers and for people that want to believe that they are more profitable than they are.
  • #6,387
  • Feb 1, 2011 12:38am Feb 1, 2011 12:38am
Quoting roughtrader
Hello Justin, I was considering you but you only offer 50:1 I can't do 50:1! I need minimum 100:1, some of your competitors are offering 100:1 so the choise is easy, if you can give me 100:1 I will take your offer
Double your account size.
  • #6,388
  • Feb 1, 2011 2:42am Feb 1, 2011 2:42am
Quoting jleblang
Roughtrader,

As you should know, US brokers are not allowed to offer 100:1 leverage.

Is there any plans to open an Australia division or other non-USA division?
Measure trends automatically with zero lag
  • #6,389
  • Feb 1, 2011 3:18am Feb 1, 2011 3:18am
Quoting jleblang
Roughtrader,...
LOL I was only messing with you I know you don't have a dealing desk, if I thought that I would never even think of signing up with MB, but Im consider signing up with you right now, but I must say I worry it will be hard to make profitable trades with just 50:1, I never traded that low before. Im trying your demo right now too, which I think is 100:1? is it possible you could change it to 50:1? it would be more realistic.
Bulls are stupid Animals!especially when Im short!
  • #6,390
  • Feb 1, 2011 3:37am Feb 1, 2011 3:37am
Quoting roughtrader
LOL I was only messing with you I know you don't have a dealing desk, if I thought that I would never even think of signing up with MB, but Im consider signing up with you right now, but I must say I worry it will be hard to make profitable trades with just 50:1, I never traded that low before. Im trying your demo right now too, which I think is 100:1? is it possible you could change it to 50:1? it would be more realistic.
don't think you need to be trading forex you have a lot to learn
  • #6,391
  • Feb 1, 2011 6:57am Feb 1, 2011 6:57am
Well I must say I'm liking the new 'Pay for Limits' they've introduced today. My Balances page now shows I'm in credit for my Gross Commissions rather than debit. This could make a big difference to traders like me who never take a market price.

Nice one MBT. Makes up somewhat for their lack of liquidity during the opening hour on Sunday.......
He was looking for the card so high and wild hed never need to deal another
  • #6,392
  • Feb 1, 2011 8:38am Feb 1, 2011 8:38am
Quoting dr_who
Well I must say I'm liking the new 'Pay for Limits' they've introduced today. My Balances page now shows I'm in credit for my Gross Commissions rather than debit. This could make a big difference to traders like me who never take a market price.

Nice one MBT. Makes up somewhat for their lack of liquidity during the opening hour on Sunday.......
  • #6,393
  • Feb 1, 2011 10:02am Feb 1, 2011 10:02am
I can't get any hotkeys to work. Any ideas?
  • #6,394
  • Feb 1, 2011 10:26am Feb 1, 2011 10:26am
Quoting janiszew
I can't get any hotkeys to work. Any ideas?
I would email (fxsupport @ mbtrading.com) and explain exactly what the issue is you are experiencing and go from there.
  • #6,395
  • Feb 1, 2011 12:05pm Feb 1, 2011 12:05pm
Quoting IndyTrader
I have to disagree about the hedging thing. If I'm long the EURUSD and in the money 500 pips (as your example), there's no difference if I close the position, go short, get a 30 pip pullback, and close and go long, then eventually get to a final exit place and get out. The only reason that hedging existed (and correctly was nixed by the NFA) is because it simply allows a broker to charge double swaps if you hold these positions over. The accounting doesn't change. If I buy at 1.3000, sell at 1.3500, buy at 1.3470, and sell at 1.3600, it doesn't...
Good discussion. But take this to be the example. If I've built up 12 lots long in EURUSD from say 1.3 and am $25K profit at 1.35, why should I have to dump everything, to go in for 1 lot short of say 30 pips, especially if there's a chance - reasonable or otherwise - of another 200 pips from those 12 lots? The non-retailer community (in the US) can do it, including your broker if they happen to be a market maker (ie., CitiFX, CMC, not to mention MS, JPM, etc.) yet the retailer is prevent from doing so!

In your example, you are presuming that exact market tops and bottoms can be called, and no one can do that, especially in today's complex and algo driven market.

If I do it the way the NFA proposes, I am contributing to the broker's commission, but even more importantly, exposing myself to almost certain profit minimization, assuming I cannot call a top and bottom exactly, especially if a news or black swan event comes along; if EU is at 1.35, I may be perfectly OK with a pullback of 100 pips, if I feel confident resumption of the trend will occur and the price level will return. From a smart money opearting perspective, this is how they build up profitability - a 100 pip overshoot isn't always concerning for them, and frequently presents another entry opportunity.

The NFA nixed hedging because of brokers charging swaps? I'd not read that, but that is doublespeak if I ever heard it: I don't give a rat's ass about swap charges, since they are so miniscule compared to my position size! If a trader is profitable, swaps are negligible, and if they are losing and getting stopped out, well, swap charges are hardly the major problem!

The NFA guidelines smack of government intervention in a way and where it's not necessarily needed; for those that can't trade, it may slow the blown accounts, and definitely increase commissions to brokers.

I'll once again add; not looking to thread crap, just trying to offer additional perspective. MB as a broker strikes me as one of the most credible out there - absolutely no one else has gone public with the MT4 dealer plug-in detail the way that they did - that's worth something, NFA aside.
  • #6,396
  • Feb 1, 2011 1:19pm Feb 1, 2011 1:19pm
Quoting Beljevina
Good discussion. But take this to be the example. If I've built up 12 lots long in EURUSD from say 1.3 and am $25K profit at 1.35, why should I have to dump everything, to go in for 1 lot short of say 30 pips, especially if there's a chance - reasonable or otherwise - of another 200 pips from those 12 lots? The non-retailer community (in the US) can do it, including your broker if they happen to be a market maker (ie., CitiFX, CMC, not to mention MS, JPM, etc.) yet the retailer is prevent from doing so!

In your example, you are presuming...

It is possible to have sub accounts to get around this. I like to trade my algorithm on a daily chart and on a 4 Hour chart....

It is possible for the algorithm to be long on one time frame while short on the other.... see DiNapoli's discussion on time frame in Trading with DiNapoli Levels if this sounds ridiculous to you... Averaging the wins and losses on both time frames provides a smoothing effect to my account balance swings, that I like and want, even though, due to compounding, the daily chart earned less percentage return over all of 2010.

All that is required to hold both a long and a short position in the same pair at the same time is a sub account.. MB will be happy to set one up for you.
  • #6,397
  • Feb 1, 2011 3:55pm Feb 1, 2011 3:55pm
I just signed up for the 'Get Paid for Limits' training on Thursday night! Looks like a very informative session, thanks!
  • #6,398
  • Feb 1, 2011 10:24pm Feb 1, 2011 10:24pm
I took the basic forex training tonight with Jason, good stuff! I think its great MB offers these training classes every night, really helps out traders like myself know what we are doing!
  • #6,399
  • Feb 2, 2011 10:42am Feb 2, 2011 10:42am
New Commission Rocks!

Thank you very much MBT, sometimes i hit breakeven trades, and sometimes tries to getout bad entry at breakeven, tight spread is helping me very much. and get much cheaper commission is the real help too. wow i love it soo much
  • #6,400
  • Feb 2, 2011 10:49am Feb 2, 2011 10:49am
Quoting hamlet
I took the basic forex training tonight with Jason, good stuff! I think its great MB offers these training classes every night, really helps out traders like myself know what we are doing!
Hamlet,

Glad to hear it, I'll be sure to let Jason know.
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