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MB Trading Futures - Introduction

  • #7,021
  • Mar 20, 2011 8:19pm Mar 20, 2011 8:19pm
Yes the issue is resting limit orders that have been placed well in advance. So the market doesn't have to give me anything, but if they decide to bid above my sell limit, my sell limit should fill otherwise I have a broker problem.

Quoting RealPips
Another explanation is that maybe nobody wanted to give him the price he wants when he wants it. Happens to me frequently. I'm not familiar with all the internals of everything, but if somebody had asked me to sell them UJ before the meeting, I would have not desired to sell them any. Maybe there is no liquidity for a reason. I could be way off base, but this is my understanding. The market doesn't HAVE to give you dick(please excuse my French).
  • #7,022
  • Mar 20, 2011 8:45pm Mar 20, 2011 8:45pm
Quoting blueJ
It's not my explanation, it's official. Justin has confirmed it.
Well then, this topic is kinda done for me until Justin comes back and tells us that MBT is dedicated to making their system work 100% for all of their clients, ultra-high-frequency-scalpers included and a fix is on the way. Or he could say that they are generally happy with the way it is. The latter would be my guess at this time.

I suppose I could say I'm happy that I am not one of the high frequency traders that is affected too heavily by this issue.
  • #7,023
  • Edited 9:48pm Mar 20, 2011 9:33pm | Edited 9:48pm
Granted some of this has to do with NinjaTraders designed in automatic deletion of data from the local database when you request more data from the server than exists on the server, even if you already have some of that data stored in the local database, but damn it every other broker provides downloadable files to patch historical data.... for just such inevitable glitches.

Here's what happens. Lately there has been 40 days worth of tick data for EU on MB's Server. I have my chart set to load 30 days worth. But sometimes, for whatever reason the length of the data available on the MB Servers varies. There is no way for me to know that it has changed from 40 days before I attempt to load a chart. Today at around 10 PM EST there is only two weeks worth of EU tick data.

So when I try to load a tick chart of 30 days EU tick data... which is a standard chart on my working desktop, Ninjatrader goes out to MB's Servers, and requests 30 days worth... since there is only 14 days worth, it loads that, and then stupidly deletes the balance of the 30 days I already had in the local database.

It gives me 30 days of whatever is on the server.... in this case it gets the 14 days that exist and then overwrites with nothing (deleting) the balance of the requested days.

Now I have a gap in my local database, which I can only repair from a backup file since it is no longer on the MB Server. I know I know, I should religiously make my own backup files every day and store them for just such occassions, but damned if I didn't this time... Why should every user have to make their own backups rather than have a central location for them?

Maybe that data will appear later in the week on MB's serber... maybe not.

Yet once again I request that MB make available to its customers tick data (from which minute can be built) as downloadable files just like every other broker in this industry already does.

If the data doesn't re appear on MB's servers later this week, I'll go over to Dukascopy and download their data, and patch my MB data with it.... but I would much rather have my own brokers data.
  • #7,024
  • Mar 21, 2011 12:06am Mar 21, 2011 12:06am
My first attempt at a live account failed back in 2008. I didn't loose a whole lot before I realized I didn't know what I was doing and got out and went to practice accounts for the past two years. Now I am confident I have developed my style that works for me and I am ready to give it a go again. I have improved much in the past couple years. I was with Interbank FX back in 2008 and I thought I would just go with them again... until I started spending hours and hours of research on brokers in the past month. I learned a lot about brokers and how they work. I learned all about ECN's, MM's, STP, etc. from reading threads and reviews here and talking to different people I have concluded that i do not want to go with any kind of MM, especially Interbank FX from what I hear about them. I thought about FXCM and came to conclusion that the only way I would maybe go with them is if I was starting a 50k Active Trader account, which I'm not. I have heard that MM brokers most of the time are the counterparty to your trades and that they will sometimes move their price a little to stop you out (if you have a stop). Well I don't want that. Not sure how much something like that would affect me though because my strategy is not exactly a day trade or pip scalp one. My trades last a day or two or sometimes even up to a few weeks and I give the market room for any volatility and adjust my volume accordingly in the beginning as well. So I don't think any MM broker would be able to move their prices enough to mess with me anyway but I don't want a broker that is against me in any way. So an ECN broker that has STP execution is what I am looking for. I have now narrowed it down to two brokers.. MB Trading or ATC Brokers as these are the ones that I am hearing are true transparent brokers that are based here in the US and do not require a large start-up sum to get a live account. My question to some of you veterans out there is.. Is my line of thinking right?? Am I on the right track to picking a good broker? And.. Does anybody know the pros and cons of the MB and ATC??

Any advice is greatly appreciated!
  • #7,025
  • Mar 21, 2011 2:08am Mar 21, 2011 2:08am
Quoting Crassius
Granted some of this has to do with NinjaTraders designed in automatic deletion of data from the local database when you request more data from the server than exists on the server, even if you already have some of that data stored in the local database, but damn it every other broker provides downloadable files to patch historical data.... for just such inevitable glitches.

Here's what happens. Lately there has been 40 days worth of tick data for EU on MB's Server. I have my chart set to load 30 days worth. But sometimes, for whatever reason...
All broker's data should be within a few pips for backtesting purposes, does it really matter?
  • #7,026
  • Mar 21, 2011 9:38am Mar 21, 2011 9:38am
bluej,

Please contact me in private at [email protected] with details of the trade so we can look into it.
  • #7,027
  • Mar 21, 2011 9:46am Mar 21, 2011 9:46am
Quoting Crassius
G
Yet once again I request that MB make available to its customers tick data (from which minute can be built) as downloadable files just like every other broker in this industry already does.

If the data doesn't re appear on MB's servers later this week, I'll go over to Dukascopy and download their data, and patch my MB data with it.... but I would much rather have my own brokers data.
I second this. The history servers need some work

They also need to change the setting in Desktop Pro that caps the number of ticks that is loaded into any tick based chart to 500 ticks. I would imagine most traders need much more than this, I do.
  • #7,028
  • Mar 21, 2011 9:51am Mar 21, 2011 9:51am
Quoting blueJ
Yes the issue is resting limit orders that have been placed well in advance. So the market doesn't have to give me anything, but if they decide to bid above my sell limit, my sell limit should fill otherwise I have a broker problem.
Agreed.
  • #7,029
  • Mar 21, 2011 10:09am Mar 21, 2011 10:09am
Quoting blueJ
RealPips,
Really though, my price was passed by on STP but because there is no liquidity on the ECN, they had to reroute and during reroute time, the STP quote crosses back below my order.
I see your point. This is a problem. I guess when it happens to me, I just close at market and wait for the next trade.

Approximately what lot sizes are you trading? I suppose in my case there is plenty of liquidity on the ECN for my orders, so its not an issue for me, but when I start trading larger size, I wonder if I will see this affect me more.

I can also see their point. Why would they want to take the other side of your trade? They aren't traders, they are commission makers(at least that's what the marketing says...)

And I also wonder if this has something to do with the fact that the chart data that MB feeds is different than the actual price data, so maybe you saw a price on a Chart/L2 that was not actually traded at. I don't know, there are several technology issues at play here. I'm just spitballin'
  • #7,030
  • Mar 21, 2011 10:21am Mar 21, 2011 10:21am
Quoting RealPips

Approximately what lot sizes are you trading? I suppose in my case there is plenty of liquidity on the ECN for my orders, so its not an issue for me, but when I start trading larger size, I wonder if I will see this affect me more.
Realpips may I ask what is your typical trade size? And you are full time trader?

Thanks in advance!
  • #7,031
  • Mar 21, 2011 11:27am Mar 21, 2011 11:27am
Quoting RealPips
I second this. The history servers need some work

They also need to change the setting in Desktop Pro that caps the number of ticks that is loaded into any tick based chart to 500 ticks. I would imagine most traders need much more than this, I do.
All of this is being worked on per a conversation in this thread around Feb 15th.
  • #7,032
  • Mar 21, 2011 11:55am Mar 21, 2011 11:55am
Quoting jleblang
All of this is being worked on per a conversation in this thread around Feb 15th.

Glad to hear it.
  • #7,033
  • Mar 21, 2011 2:57pm Mar 21, 2011 2:57pm
Quoting jleblang
All of this is being worked on per a conversation in this thread around Feb 15th.
Nice.
  • #7,034
  • Mar 21, 2011 4:31pm Mar 21, 2011 4:31pm
Quoting signorx
Realpips may I ask what is your typical trade size? And you are full time trader?

Thanks in advance!
I would say I'm a 1/2 time trader. I've usually got my platform up and eye on the charts from the beginning of the overlap to the end of US session and take trades when I can, but I have other things that keep me out of the market. I'm transitioning out of another career and in 3-4 months I will be free to trade full time.

In the last couple months, I have typically been trading from 10-30K but have traded larger positions. When I do go full time, I will be sizing larger, probably more like 100-200k to start with so we'll see if that changes anything.
  • #7,035
  • Mar 22, 2011 1:38am Mar 22, 2011 1:38am
I don't know if this has come up before, but I ran into another exception for getting paid for limit orders. I put a sell limit on the AUDUSD last night, about 20 pips above where it was then trading. It got filled today at 5:12 PM EDT. But I didn't get a credit for the limit order.

Here was the explanation. The order was still a limit order before they went down for rollovers. When they came back up, the order was marketable. Therefore, it did not get filled as a limit order and so the regular commission structure applies.

I'm not upset about this, but I do think it's a pretty bad policy to have in place. They are trying to encourage people to place limit orders, and the limit orders increase some risk to the trader. The reason the limit order doesn't get filled as a limit is entirely out of control of the trader. It's not like I tried to scalp the limit and price moved to a marketable position before the order got placed. Instead, I was in way ahead of any price move, and the commission structure switched based on something that is completely in MBTrading's control.

On balance, I think they should change this policy, but in any event, I think traders should at least know another of the ramifications of the daily down time.
  • #7,036
  • Mar 22, 2011 2:59am Mar 22, 2011 2:59am
Quoting RealPips
I would say I'm a 1/2 time trader....
Thank you realpips, me too I trade in range 10-50k and I have not any type of problem up to now, I'm concerned to know if anything change if I'll trade larger, i would like to increase my position by the end of the year, so please let me know your sentiment when you will increase your lot size!

Thanks!
  • #7,037
  • Mar 22, 2011 10:09am Mar 22, 2011 10:09am
Justin, may I ask what is the time slot with more MBT customers connected, in particularly customers operating on EUR / USD?

thanks
  • #7,038
  • Mar 22, 2011 10:41am Mar 22, 2011 10:41am
Quoting duffypratt
I don't know if this has come up before, but I ran into another exception for getting paid for limit orders....
Duffy,

Interesting and unique situation. Can you email me your account number ([email protected]) so I can have a closer look and open a ticket to change the code, so this doesn't happen in the future.
  • #7,039
  • Mar 22, 2011 11:48am Mar 22, 2011 11:48am
Quoting jleblang
Duffy,

Interesting and unique situation. Can you email me your account number ([email protected]) so I can have a closer look and open a ticket to change the code, so this doesn't happen in the future.
Done
  • #7,040
  • Mar 23, 2011 4:25am Mar 23, 2011 4:25am
Hello I live in Australia and I would really like to join up with MB Trading but I've had issues getting information from MBT.
I've emailed on three separate occassions and haven't received a reply. I would love to use the "chat" option and talk to a real representative but unfortunately due to the time difference between U.S and AUS it makes it difficult to chat with a live person

I've filled in the form on MBT website asking general questions such as fund deposits, withdrawals etc... but haven't heard back for a week. I wonder if I'm contacting the wrong department or inbox. Could someone tell me what is a good email address to reach the FOREX part of MBT?

Thank you so much if you're able to help out. I really want to join up with MBT but I'm considering other brokers if it's just bad customer service. But I've read in so many reviews that MBT has fantastic customer service so it doesn't make sense. I'm assuming its an email issue. Thanks for helping out.
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