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MB Trading Futures - Introduction

  • #7,061
  • Mar 24, 2011 7:12pm Mar 24, 2011 7:12pm
Quoting surewin888
+1.

Now I move my account with Dukascopy. I don't experience any HALT trading every day from 4:48pm est to 5:10pm est. The filled are instantly as I see past my limits. Unlike MBT it fills me 2 or 3 minutes later..

For me, I think Halt trading every day for 10-20 minutes which is BIG risk for traders since SL won't kick in even you have SL in place. And don't filled the limit order instantly which is big problem as well..

[color=red][b]OH well, I think I made right decision moving to Dukascopy after being with MBT for about 2 years....
Enjoy your deal desk...right up until they decide to enjoy your account for lunch. Curious, what did you lose 1000 pips on in 10 minutes? Ah, screw it, what do I care...I just wonder why I have to hear about it on this thread.
  • #7,062
  • Mar 24, 2011 8:06pm Mar 24, 2011 8:06pm
Quoting wannatradefx
Enjoy your deal desk...right up until they decide to enjoy your account for lunch. Curious, what did you lose 1000 pips on in 10 minutes? Ah, screw it, what do I care...I just wonder why I have to hear about it on this thread.
You hear about it on this thread because it has to do with MBTradings daily closure. The yen soared in a 12 minute span on March 16. Basically, all the liquidity dried up at once and price on the Yen pairs fell rapidly. And the drop came just while MBTrading was offline. So people with stops in place did not even have those stops go to market until after MBTrading came back online. For people who were long in those pairs, when they came back on, their relatively small stops came into the market when price had already blown by them, perhaps as much as 300 pips.

If a broker was on at that point, there might have been severe slippage. But I don't think there is any denying that the outage made things worse for some traders. So far I haven't heard anyone complaining that they had Take Profit orders that didn't get filled during that outage, and as a result, they got an extra 2-300 pips on the trade.

Anyway, I think this is an issue that people should at least be aware of, and it's fair game for this thread. MBTrading did exactly what they ordinarily do. There is a risk attached to it going offline for 10 minutes. March 16 showed how extreme that risk can be. Now, people can decide for themselves whether they can live with that risk, or whether they would prefer a different set of risks.
  • #7,063
  • Mar 24, 2011 9:57pm Mar 24, 2011 9:57pm
Quoting wannatradefx
Enjoy your deal desk...right up until they decide to enjoy your account for lunch. Curious, what did you lose 1000 pips on in 10 minutes? Ah, screw it, what do I care...I just wonder why I have to hear about it on this thread.
I had position on usdjpy and audjpy, eurjpy and gbpjpy with SL 25, 35, 45, 45 pips. During the JPY pairs crashed, MBT halt their trading EVERY DAY in MT4 from 4:48pm to 5:10(20)pm EST. So all my SL didn't kick in until their system came back, all the jpy pairs drop like rocket...

You could check you MT4 during the time I specified. I learned in the HARD way...

I called their help desk, they told me it is THE RISK to trade with them. So I have take the loss. It never happened to me with them in the past 2 years. But this BIG LESSON really teaches me any SH*T can happened during the MBT HALT their trading time.

Now, I move my account with Dukascopy and ATCBroker. So far so good with them
  • #7,064
  • Mar 24, 2011 10:29pm Mar 24, 2011 10:29pm
Quoting surewin888
I had position on usdjpy and audjpy, eurjpy and gbpjpy with SL 25, 35, 45, 45 pips. During the JPY pairs crashed, MBT halt their trading EVERY DAY in MT4 from 4:48pm to 5:10(20)pm EST. So all my SL didn't kick in until their system came back, all the jpy pairs drop like rocket...

You could check you MT4 during the time I specified. I learned in the HARD way...

[b]I called their help desk, they told me it is THE RISK to trade with them. So I have take the loss. It never happened to me with them in the past 2...
Let me be clear about what I was saying so that there isn't any confusion. You said something about getting slipped or missing a S/L by 1000 pips. My point is that no pair, even on that day at that time, moved 1000 pips. Now you have clarified that you had stops on several JPY-based pairs that blew past the stops, maybe saying that it added up to 1000 pips or something, when really, it was all the same move on several pairs. That clarifies it a little better than implying that the broker slipped you 1000 pips on a pair when a 1000 pip moved never happened.

The rest of what you are saying, I agree with. There is a risk of trading with brokers like MB and IB that close at global rollover because you can't execute while they are down, just like you can't execute in the futures market for a small window every day, etc. 99.99% of the time, it doesn't really matter. But, you know what, 0.01% of the time still comes around one day every few years, and this was it for those that were trading the JPY-based stuff and on the wrong side of the trend.

I trade with them and I know that that risk exists, but I also know that on the move, even the desks that were up, people got slippage of 100 pips and more, you can see the complaining on a lot of threads. When you say "It never happened to me with them in the past 2 years," what you're saying is that a crazy move like that never happened exactly during global rollover, or at least while you had a position. Frankly, I don't remember one like that happening at that moment of the day either.

So to be clear--yes, there is risk during that 10 minute window every day with MB and any broker that settles at global rollover. It goes from 4:58 pm EST until around 5:10 or so. If you aren't comfortable with that risk, you should use a different broker. It's declared by them on their site. We saw last week an example of what can happen. I personally don't do most of my trading during rollover, I'm usually trading during the European and US sessions, and I'm typically out of trades by noon. If I leave a trade on, it's only if I'm in the money and really feel like it, but 90% of the time, I don't deal with swaps and carrys and holding over through illiquid times. I also don't hold anything over a weekend because it is the only time that the market can leap for the same reasons. To me, playing a leveraged market, that ain't worth it.

What I think most forex traders have a hard time accepting is that any SH*T can happen at any time, and if you are on the wrong side of the trade, with any broker, you can get hit hard by the market. Keep your leverage down and be aware of when the riskier times of day are.

By the way, side note, people talk about the desks playing games and sweeping stops and all of that junk. That's one thing you can't see on a system like MB, but clearly, that move on the JPY last week was a coordinated effort by some major banks to break the lows on the USDJPY to shake out some stops, and I'm quite sure that they picked that exact time to do it for a reason (not because MB was in maintenance but because most banks are showing little to no liquidity at that time and are busy dealing with end of day). And then, as someone on this thread predicted, the next day the banks came in and shoved the JPY back 400 pips the other way at a later hour--but after they were long from shaking out the shorts in the move that squashed you. In the bigger picture, this stuff is all easily manipulated by players way bigger than all of us added up, and they know when to make their moves.
  • #7,065
  • Mar 24, 2011 11:00pm Mar 24, 2011 11:00pm
Quoting wannatradefx
Let me be clear about what I was saying so that there isn't any confusion. You said something about getting slipped or missing a S/L by 1000 pips. My point is that no pair, even on that day at that time, moved 1000 pips. Now you have clarified that you had stops on several JPY-based pairs that blew past the stops, maybe saying that it added up to 1000 pips or something, when really, it was all the same move on several pairs. That clarifies it a little better than implying that the broker slipped you 1000 pips on a pair when a 1000 pip moved never...

Agreed...I rather to choose not taking this kind of risk since I normally close all my position on every FRIDAY 1:00pm est. But i don't close all the position for each day since I'm more a swing trader for the week.

In general, MBT is good broker. But with this kind of RISK, once you learned it in real account, you will feel a lot of pains...

So far, with Dukascopy and ATCBroker I have no worry about those problem and they are WELL Reputation like MBT. So why taking this kind of risk which can be avoided...
  • #7,066
  • Mar 25, 2011 12:32am Mar 25, 2011 12:32am
Quoting surewin888
Agreed...I rather to choose not taking this kind of risk since I normally close all my position on every FRIDAY 1:00pm est. But i don't close all the position for each day since I'm more a swing trader for the week.

In general, MBT is good broker. But with this kind of RISK, once you learned it in real account, you will feel a lot of pains...

So far, with Dukascopy and ATCBroker I have no worry about those problem and they are WELL Reputation like MBT. So why taking this kind of risk which can be avoided...
how long have u been using ATC broker? which is bigger,ATC broker or MBT?
  • #7,067
  • Edited 6:22am Mar 25, 2011 5:57am | Edited 6:22am
Quoting fxking
how long have u been using ATC broker? which is bigger,ATC broker or MBT?
I was using ATCBroker about 2 year when I have MBT account same time. At that time ATCBroker was my backup broker.

I think MBT is bigger broker than ATCBroker.

Now it is still my backup broker, I like Dukascopy better.
  • #7,068
  • Mar 27, 2011 9:03pm Mar 27, 2011 9:03pm
Is Dukascopy using MT4? How about their commision compared to MBT? I am considering it if it is comparable but no connection disruption.

I have put up too much of no connection problems and the final straw is about the break. Today another no connection.

I had taken some loss due to not being able to close trade because of connection issues.

It is especially a no no if you using EA to trade with MBT, due to outage.

Whatever the cause, I definitely think they are not eager into fixing this. some time made me wondering if they did this just to take your loss. You never know.



I have put up too much no connection problems not and finally
Quoting surewin888
Agreed...I rather to choose not taking this kind of risk since I normally close all my position on every FRIDAY 1:00pm est. But i don't close all the position for each day since I'm more a swing trader for the week.

In general, MBT is good broker. But with this kind of RISK, once you learned it in real account, you will feel a lot of pains...

So far, with Dukascopy and ATCBroker I have no worry about those problem and they are WELL Reputation like MBT. So why taking this kind of risk which can be avoided...
  • #7,069
  • Mar 28, 2011 8:25am Mar 28, 2011 8:25am
Quoting neomn
Is Dukascopy using MT4?...

Nope...Dukascopy is not MT4. I spent some money and ask developer to convert my trade management script into Jforex. Now it is working like chart.

You could try out ATCBroker which is mt4
  • #7,070
  • Mar 28, 2011 9:18am Mar 28, 2011 9:18am
Quoting wannatradefx
What I think most forex traders have a hard time accepting is that any SH*T can happen at any time, and if you are on the wrong side of the trade, with any broker, you can get hit hard by the market. Keep your leverage down and be aware of when the riskier times of day are.
This is the name of the game if you want to be more than "lucky" at Forex.
  • #7,071
  • Mar 28, 2011 9:21am Mar 28, 2011 9:21am
Quoting wwwin
By the way, look at the bold text you quoted, I gave you a 400 pip trade 4 hours before the intervention and you are so dumb you complained about it here LOL.
This statement tells me just how lost you are. Congratulations, you're my first "ignore." :-)
  • #7,072
  • Mar 28, 2011 9:29am Mar 28, 2011 9:29am
Looks like MBT has rolled out the new Client Area as default(or maybe I had set it to default!). It is a major improvement in layout, useability and speed. Very nicely done Justin(& Ross & Dev Team of course!)

Certain things are not ready yet. For instance, I tried to make a check request and apparently that is not functional on the new site, but the "Classic" site handled that request just like it always has.
  • #7,073
  • Mar 28, 2011 9:32am Mar 28, 2011 9:32am
Quoting neomn
Is Dukascopy using MT4?...
I like duckas myself alot! but i dont have 50k budgeted for my trading......i tried ATC way back when they first claimed to be the first ECN mt4 however they are not ECN they ARE only STP.....mbt is the only true ECN broker using mt4.......interactive brokers is a good ecn but they do not use mt4.
  • #7,074
  • Edited 10:24am Mar 28, 2011 9:55am | Edited 10:24am
for all you guys complaining that you cant close a trade or cant get service.......your heads must be stuffed in the sand or elswhere lol......

i had a day a couple weeks ago the mt4 server was not acting right......limit orders seemed as if they weren't registering in mbt mt4 etc etc.......so that day i wound up charting on desktop pro.....unable to actually trade desktop pro directly because i had an MT4 account

....I CALLED MY ORDERS IN TO THE TRADE DESK! i didn't waste time trying to chat online or bitch on a forum blah blah blah......I called in entered and exited with a breeze there was little or no wait time to get the trade desk on the phone and it was a very pleasant experience..........

no im not a cheerleader MBT is simply the best broker experience I have ever had......I have been with FXSol, FXCM, FXDD, IBFX, AMP Global, Oanda, GFT, Interactive Brokers none has cared more about me and keeping me happy as much as MBT has.
  • #7,075
  • Edited 11:34am Mar 28, 2011 10:33am | Edited 11:34am
Quoting SnapCracklePip
for all you guys complaining that you cant close a trade or can get service.......your heads must be stuffed in the sand or elswhere lol......

....I CALLED MY ORDERS IN TO THE TRADE DESK! i didn't waste time trying to chat online or bitch on a forum blah blah blah......I called in entered and exited with a breeze there was little or no wait time to get the trade desk on the phone and it was a very pleasant experience..........
To be fair, these guys are high frequency traders, and calling the desk to execute trades (except in emergency conditions) is not acceptable for them. There is a blurry line between a real, persistent issue and an intermittent issue that causes some people problems because it's less than perfect for them.

But I agree with you, if you're stuck in a trade, call the desk immediately and get out. As long as it's not rollover or a big news event there shouldn't be any problem with that(and if you are in the market at those times, it is your risk).

MB Trade Desk is the first auto dial entry on all of my phones, just in case!
  • #7,076
  • Mar 28, 2011 1:01pm Mar 28, 2011 1:01pm
Quoting neomn
How about their commision compared to MBT?
Dukascopy don't even come close to MBT, not many are,
if I put it this way, MBT is a 8 on a 10 scale, Dukascopy is a maybe a 3 at most
Bulls are stupid Animals!especially when Im short!
  • #7,077
  • Mar 28, 2011 1:47pm Mar 28, 2011 1:47pm
Quoting roughtrader
Dukascopy don't even come close to MBT, not many are,
if I put it this way, MBT is a 8 on a 10 scale, Dukascopy is a maybe a 3 at most
I don't think I'd even give Dukas a 3.
  • #7,078
  • Mar 28, 2011 2:02pm Mar 28, 2011 2:02pm
Quoting neomn
Is Dukascopy using MT4?...
Noemn,

I’d be happy to look into this for you. Can you be more specific about what you mean by “No connection”? Other than daily rollover, you shouldn’t be getting that message at all. Or are you referring to the minutes around 5 pm EST during rollover?
  • #7,079
  • Edited 10:01pm Mar 28, 2011 7:14pm | Edited 10:01pm
Quoting RealPips
This statement tells me just how lost you are. Congratulations, you're my first "ignore." :-)
http://www.forexfactory.com/showpost...postcount=6973
LOL...http://independentgirls.com/indiboar...0Eyelashes.gif
  • #7,080
  • Mar 29, 2011 8:18am Mar 29, 2011 8:18am
wwwin,
Everyone on the street knew about this coming. This isn't your original insight, you are just re-posting rumors/news that were circulating between traders of all HF and banks.
Please stop taking credit for it.

Have a good day.

Quoting wwwin
http://www.forexfactory.com/showpost...postcount=6973
LOL...http://independentgirls.com/indiboar...0Eyelashes.gif
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