Would it be too much trouble to pay me back my $20,000, my sexy darling? | Page 25 | Forex Factory

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Would it be too much trouble to pay me back my $20,000, my sexy darling?

  • #481
  • Feb 16, 2011 3:27am Feb 16, 2011 3:27am
I managed to snag tonights breakout which brought my account back into profit after a stinging 2% loss on tuesday. I was tempted to cut out early after a mediocre start to the session. I gave back profits on wednesday hoping for the bigger target and I didnt want that to happen again. Fortunately I maintained discipline and hung on as price broke and went straight to my predicted target
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BTC Return This Year: na
  • #482
  • Edited 5:41pm Feb 16, 2011 5:25pm | Edited 5:41pm
Oanda has widened their spread so I decided to have a look at MBT. Its ECN with a commision and I like that. I am happy to pay comission and get the real price to trade. Oanda's .9 pip fixed spread was an unbeatable deal but lately the best I have been getting is 1.1 - 1.3 pips. As a scalper with a four pip stop that makes a big difference. They run mt4 which is great for charting but lame for fast ordering. They have another platform which seems to meet my needs for fast ordering with set stop and tp. I was very impressed with these prices 0.1 and 0.3 pips 1 hour after NY close!
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BTC Return This Year: na
  • #483
  • Feb 19, 2011 1:29am Feb 19, 2011 1:29am
just popped in to post a 1.3% return for the week. I was a little disappointed when I first calculated the result. It is my worst week so far this year. Then I put it into perspective. Compounded weekly this return every week would produce 95% return per annum! That is awesome. How many traders are getting that? Not to shabby considering a 2% drawdown on tuesday and I did not trade friday as I was demoing the MBT platform.
BTC Return This Year: na
  • #484
  • Edited 3:34am Feb 21, 2011 3:20am | Edited 3:34am
Quoting M.A.C.Doug
Oanda has widened their spread so I decided to have a look at MBT.....
I have been with Oanda for nearly two years. I wasnt profitable with any other broker. I love the platform, its second nature to me. You can understand I am reluctant to change.

Until today that is.

I just saw Oanda widened there spread to 10 pips twice in 10 minutes while MBT remained under a pip the whole time. I was in a trade both times and was stopped out on one of the trades.

Oanda spread has been sitting at 3pips for the last 10 mins and yet I am able to deal at MBT for 1/10th of that

Oanda who I say
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  • #485
  • Mar 2, 2011 5:39am Mar 2, 2011 5:39am
A grade set up on the daily chart. First a down trendline break(distribution or resitance) provides a bullish bias for my intra day trading. Then a pullback to support, the very common broken trendline backside retest. Although I was prepared to battle it out should price have moved lower to my back up support levels, it turned out to be a clean single entry 80pip reward from a 10 pip risk
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  • #486
  • Mar 31, 2011 5:42am Mar 31, 2011 5:42am
Ive been trying to get my head around MBT's desktop pro platform this last month. Its finally coming together. The ordering capability is nothing short of astounding with 20 order types. Confusing at first but once you get a handle on it there is virtually nothing you cant do.

The most amazing part is the "pay for limit orders" where MBT actually pay you to add liquidity to the platform via limit orders. At first my scalp profits were being seriously eaten away by commission but I have adjusted my strategy to take advantage of this "pay me" plan. It is truly the most exciting thing I have ever come across since I started trading. Tight spread and no commission would be awesome. Tight spread plus commission paid back to me - priceless.

This is my configuration for the platform. Some windows such as positions and open orders are usually open during trading but are not shown here. You can clearly see MBT paid me to trade with them. Check it out - cool or what?
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BTC Return This Year: na
  • #487
  • Mar 31, 2011 6:10am Mar 31, 2011 6:10am
Quoting M.A.C.Doug
Ive been trying to get my head around MBT's desktop pro platform this last month. Its finally coming together. The ordering capability is nothing short of astounding with 20 order types. Confusing at first but once you get a handle on it there is virtually nothing you cant do.

The most amazing part is the "pay for limit orders" where MBT actually pay you to add liquidity to the platform via limit orders. At first my scalp profits were being seriously eaten away by commission but I have adjusted my strategy to take advantage of this "pay me"...
Hi M.A.C.Doug

You cought my attention in smexy trades thread,so I checked out your thread.
Your story is amaizing,truly inspirational! http://www.forexfactory.com/images/icons/icon14.gif

You made me think about the MTB...my main account is with Oanda now...but lately i am having trubles with spread widening and platform itself.
I am going to check their site to see what they offer,but in the meantime,can you tell me if they have like 5 or 10 second chart?
This is very important for me,since I use them most of the time.

Thanks & good luck

regards
  • #488
  • Mar 31, 2011 8:37am Mar 31, 2011 8:37am
These are the time frames they offer

Quoting Tilt
Hi M.A.C.Doug


I am going to check their site to see what they offer,but in the meantime,can you tell me if they have like 5 or 10 second chart?
This is very important for me,since I use them most of the time.

Thanks & good luck

regards
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  • #489
  • Apr 1, 2011 5:19am Apr 1, 2011 5:19am
Quoting dbeach777
These are the time frames they offer
Thanks man...I like it already

good trading!
  • #490
  • Edited 6:05am Apr 1, 2011 5:50am | Edited 6:05am
Quoting Tilt
Hi M.A.C.Doug

You cought my attention in smexy trades thread,so I checked out your thread.
Your story is amaizing,truly inspirational! http://www.forexfactory.com/images/icons/icon14.gif

You made me think about the MTB...my main account is with Oanda now...but lately i am having trubles with spread widening and platform itself.
I am going to check their site to see what they offer,but in the meantime,can you tell me if they have like 5 or 10 second chart?
This is very important for me,since I use them most of the time.

Thanks &...
Hi Tilt, Im glad you enjoyed my thread. Thanks for posting and thank you dbeach for answering. I hadnt even realised myself that all those timeframes plus tick charts were available

Oanda with a fixed 0.9 pip spread is impossible to beat and that is why I went with them. As the saying goes "If it sounds to good to be true then it probably is". My last days with Oanda were 1.2 pip spread minimum + regular 3-10 pip widening. I used to accept the widening as part of normal market fluctuation but I was just in denial about my beloved broker. They were stacking the odds in their own favor and lining their pockets with our money. Platform freezing is another technique they use to separate more traders from their money. Platypus, an institutional trader here on FF, says the platform is programmed to do this and I believe him.

Its to early to tell if MBT will be any better but I am glad I took the time to learn to use the platform. I will be voting against Oanda's practices with my money just like I did against CMC, Alpari, and I.G markets for their bs re-quotes and Go Markets for pretending to have no conflict of interest with their bs STP/ECN claims.

The only downfall I have come across so far is the charting - you can have as many charts as you want but only one time frame at a time. They do offer MT4 but it does not compare with MBT desktop pro for trading. Unless you are a programmer, the new "no hedging" and "fifo" rules render it useless for my trading style so I just use it for charting like I always did. At least my price charts are from the same broker as my trading platform.

Years ago there was a true ecn called hotspot fx. They still exist today but no longer accept retail clients. Trading with them was awesome - instant execution, tiny spreads and low commission and although their platform was only rudimentary, I have been searching for that same experience ever since. I think I may have found it and more with MBT.
BTC Return This Year: na
  • #491
  • Apr 1, 2011 6:36am Apr 1, 2011 6:36am
Quoting M.A.C.Doug
Hi Tilt, Im glad you enjoyed my thread. Thanks for posting and thank you dbeach for answering. I hadnt even realised myself that all those timeframes plus tick charts were available

Oanda with a fixed 0.9 pip spread is impossible to beat and that is why I went with them. As the saying goes "If it sounds to good to be true then it probably is"....
Thank you,I realy appreciate you extended review.
Althogh I avoid trading around news I sometimes still have a position from before and spread widening is realy starting to get on my nerves. Besides I never took time to look for something better. I know all about the funny business brokers are doing,but I've been able to avoid most of it so far. I am starting to feel the effect of this, lets humpty dump the retailers thing.
And I am having enough problems of my own...LOL!
Miss mkt ows me to! Not nearly as much as it did you at some point but enough for causing me pain.

Anyway I think I'll get MBT or someone similar in the next few months.
I'll stop by sometimes to see if you still feel good about them...

Good luck and happy pipin!

Regards

Tilt
  • #492
  • May 7, 2011 1:42am May 7, 2011 1:42am
How are you doing M.A.C Doug ?
  • #493
  • May 9, 2011 6:01am May 9, 2011 6:01am
Im going ok. I went to close out my oanda account after a couple of months testing MBT but when I opened up the platform I saw a 0.8 fixed spread. Add to that they have MT4. They are also getting credit card deposits up and running so no more costly and slow wire transfers. I am live trading with the Oanda account. I will keep an eye on there spread for a while before I make my final decision
BTC Return This Year: na
  • #494
  • Jun 17, 2011 8:49pm Jun 17, 2011 8:49pm
Quoting M.A.C.Doug
I plan to come back when I have enough funds to make it worthwhile and then trade daily charts mostly.
Its been a long hard wait but I have saved up 10K, the largest single deposit since I first opened an account six years ago. My demos with Go Markets and MBT have done very well and my live micro account is up over 300% since december last year.

I have unfinished business with my sexy darling

I am ready

My MBT demo account achieved a 30% return in two months. They are an excellent broker but I wont be going with them mainly because of the international transfer and they dont have AUD accounts. Maybe sometime in the future

I am going with Go markets. Although they are a market maker, I think they are playing fair.They are based in my home town of Melbourne and have offered to see me in person to address my concerns. They have the MyFX console which is very similar to the Oanda platform I am used to. There is no FIFO and you can trade both directions simultaneously (hedge) which is most suitable for me. One false move from them though and I will close the account and hedge my Aussie dollars in an MBT ecn account for sure.

I plan to start as of 1st of July. I wont be posting every trade like I used to, its not conducive to clear, focused trading but I will post my results regularly. Wish me luck

Here is a couple of charts of my last trade. Its the same old tricks but you do have to be very patient for these
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  • #495
  • Jun 17, 2011 9:27pm Jun 17, 2011 9:27pm
Good luck with your trading and Go Markets. I live in Sydney and came to the same conclusion as you. I opened an account with a thousand dollars with Go Markets.

I lost half my account when the spread went to 100 pips. I was using an ea with a 50 pip stop loss. I am still licking my wounds.

The picture shows an HOURLY chart. This is what it looks like when a trade gets stopped out by 100 pip spread.
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  • #496
  • Edited 12:52am Jun 18, 2011 12:31am | Edited 12:52am
Quoting waltini1
Good luck with your trading and Go Markets. I live in Sydney and came to the same conclusion as you. I opened an account with a thousand dollars with Go Markets.

I lost half my account when the spread went to 100 pips. I was using an ea with a 50 pip stop loss. I am still licking my wounds.

The picture shows an HOURLY chart. This is what it looks like when a trade gets stopped out by 100 pip spread.
WTF!!
did you contact them about this? this cant be a real spike. They seem to be happy to correct any irregularities. If your platform is set at GMT or close to it then that was not the best time of day to be trading. If you were using a 50 pip stop and lost half of your account with 100 pips then you were risking 25% of your account per trade anyway. I think you have to take some responsibility for this loss. You were going to be licking wounds sooner or later trading this way. Still, not good to have it stolen from you by your broker on a false quote

My stops are usually under 20 pips and around 1% of my balance at risk. A spike like that would cost me 5-10%. I would be mega pissed if that ever happened and would be threatening legal action if they didnt reverse the trade.

Im moving from Oanda because they widen there spreads only 3 - 10 pips during liquid times. They claim it is to reflect market conditions but I have seen it happen plenty of times without a corresponding rise in the interbank market. That is the broker stealing money from their clients period. Like I said, one false move from Go and I am outa there making as much noise as I can about it
BTC Return This Year: na
  • #497
  • Jun 18, 2011 1:25am Jun 18, 2011 1:25am
Quoting M.A.C.Doug
WTF!!
did you contact them about this? this cant be a real spike. They seem to be happy to correct any irregularities. If your platform is set at GMT or close to it then that was not the best time of day to be trading. If you were using a 50 pip stop and lost half of your account with 100 pips then you were risking 25% of your account per trade anyway. I think you have to take some responsibility for this loss. You were going to be licking wounds sooner or later trading this way. Still, not good to have it stolen from you by your broker on a false...
Of course I contacted them straight away and they looked into it and rang me back. This was during the Japan meltdown and they said "Bad luck!" and thanks for your donation. They didn't really say thanks for the donation but their attitude was tough titties.

I didn't risk it all on the one trade, what happened was my ea was a stop and reverse type and always in the market and as the spread widened it just continued opening and closing trades instantaneously.
  • #498
  • Jun 19, 2011 2:16am Jun 19, 2011 2:16am
[quote=M.A.C.Doug;4703670]Its been a long hard wait but I have saved up 10K, the largest single deposit since I first opened an account six years ago. My demos with Go Markets and MBT have done very well and my live micro account is up over 300% since december last year.

I have unfinished business with my sexy darling

I am ready

My MBT demo account achieved a 30% return in two months. They are an excellent broker but I wont be going with them mainly because of the international transfer and they dont have AUD accounts. Maybe sometime in the future

I am going with Go markets. Although they are a market maker, I think they are playing fair.They are based in my home town of Melbourne and have offered to see me in person to address my concerns. They have the MyFX console which is very similar to the Oanda platform I am used to. There is no FIFO and you can trade both directions simultaneously (hedge) which is most suitable for me. One false move from them though and I will close the account and hedge my Aussie dollars in an MBT ecn account for sure.

I plan to start as of 1st of July. I wont be posting every trade like I used to, its not conducive to clear, focused trading but I will post my results regularly. Wish me luck


Hi MAC Doug!

I am a newbie and have been doing a lot of reading, am still learning about forex trading but am determined to give it a red hot go I would love to set up a demo account soon so that I can start practicing, but it has been sooo hard to decide which one to go with, esp because I wold prefer to open an account in AUD! Every single broker I've been reading about has had negative comments at some point from traders in different forums, so I thought it would be worthwhile to ask your opinion as I came upon your thread today. For a total newbie, do you think Oanda is good, or would you recommend Go Markets? I would love to try an ECN but all the good ones seem to have really high minimum capital requirements and they seem quite hard to get the hang of.. so I think I'll stick with a non-ECN broker for now. As an Aussie, what is your experience/opinion?

Greatly appreciate any advice!
  • #499
  • Jun 20, 2011 5:19am Jun 20, 2011 5:19am
Quoting Pip per Pip

Hi MAC Doug!

I am a newbie and have been doing a lot of reading, am still learning about forex trading but am determined to give it a red hot go
If by "red hot go" you mean 5 years 24/7 with nothing but losses to show for it then welcome to the vampire den. You are wasting your time if you think you can do this with anything less than everything youve got and some more you didnt even know you had

Quoting Pip per Pip
Greatly appreciate any advice!
Dont seek advice from a non profitable trader in an internet forum

Seriously, forget you ever saw forex trading. Look for opportunities in life to give love instead of take profit. That is my advice
BTC Return This Year: na
  • #500
  • Jun 20, 2011 7:25am Jun 20, 2011 7:25am
Quoting M.A.C.Doug
I plan to start as of 1st of July. I wont be posting every trade like I used to, its not conducive to clear, focused trading but I will post my results regularly. Wish me luck
Indeed. Luck is something I never underestimate in this game. It definitely played a role in my survival, especially in my early days.

So I will wish you luck and all the best.
Nothing worth having is easy.
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