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MB Trading Futures - Introduction

  • #7,781
  • Jul 20, 2011 10:56am Jul 20, 2011 10:56am
Quoting fxking
btw r u working for MBT?
LOL. This is why I left the forums. You can't say anything positive without being accused of working for them. Let me go find something negative to say just to even it out. I'll reply to another post. Hang on.
FXChant Singing the World of Forex
  • #7,782
  • Jul 20, 2011 10:59am Jul 20, 2011 10:59am
Quoting Astroman
Wait, what??? Desktop and the trade desk were fully operational? Not a problem!

So it was an MT4 issue. When are people going to learn?
Yesterday's issue was not an MT4 issue, FX trading was halted completely. While it is true that the Trade Desk can always place a trade over the phone for you, the reality is that when MB goes down, the phone wait times can be 30-60 minutes. Since their outages are always resolved before then, saying that the Trade Desk is available during a complete system-wide outage when so many people are trying to call in is sort of useless.

There...I did it! Happy FXKing?

Still doesn't change anything, I love MBT.
FXChant Singing the World of Forex
  • #7,783
  • Jul 20, 2011 11:03am Jul 20, 2011 11:03am
Quoting fxchant
LOL. This is why I left the forums. You can't say anything positive without being accused of working for them. Let me go find something negative to say just to even it out. I'll reply to another post. Hang on.
i guess u r missing the points here.I still like MBT's execution speed but there is some issues that MBT REALLY need to address and solve it,thus i raised the problems that i am facing,i am NOT defaming MBT nor saying that they trade against us,or some sort of that.I personally feel that MBT has slacken but this may be my opinion only!?
  • #7,784
  • Jul 20, 2011 11:10am Jul 20, 2011 11:10am
@IndyTrader-
The sequence of the topic is-
ForexQuant :
Hi jleblang,
I just started to play around with a MT4 demo account yesterday. However, I noticed that all buy limit orders can be matched at ask price instead of bid price, and I didnt get paid with all these limit orders too. Why?
ForexQuant :
Ok for example, I place a buy limit order at 1.6070(edited) when the current price was 1.6075/77. However, the buy limit order is not executed even if the price dropped to 1.6069/71. I thought my order should be executed before the bid price touched 1.6069. Please look at the screenshot of order modification window, obviously my order is still pending until the ask price hit 1.6070(edited).

As you can see at the bottom part of the screen, I paid commission instead of gettting paid when the order is executed.

Milan:
you can only buy on ask, only sell on bid, mate.

IndyTrader:
Incorrect in Live. I get hit on the bid all of the time.


Milan:
You should be a press agent of MBT... Why you think we have an ask price?

------This is the point where I joined the discussion.

By any language, Milan’s interpretation is absolutely correct. As per ForexQuant’s example his order did not execute because the ask price did not cross 1.6070, it was still at 1.6071 and hence still pending.

Your statement of getting filled all the time at the bid price does not in any way answer the original poster’s question. (and is a gross exaggeration.I repeat that you might be filled at better prices than "ask price" often, but definitely not the "bid price" that often)

In any case, I think ForexQuant’s question has been answered by jleblang and I guess that’s all really matters.

Regards,
Scalper
  • #7,785
  • Jul 20, 2011 11:18am Jul 20, 2011 11:18am
Quoting Scalperforex
Your statement of getting filled all the time at the bid price does not in any way answer the original poster’s question. (and is a gross exaggeration.I repeat that you might be filled at better prices than "ask price" often, but definitely not the "bid price" that often)
Actually, this statement you just made is the more problematic one for me. In fact, you are more likely to get filled buying on the bid or selling on the ask than you are getting filled in the middle.

Let's be clear about the possibilities.

1) Bid is 3, ask is 6. You put in an order to buy at 4. You BECOME THE BID at 4, so any customer sell order that comes in at market hits you at 4. You are the bid, so you buy at the bid. Same is true for limit sells.

2) What you said is that it is easier to get filled between the spread. How is that possible? A market order will hit the bid or ask, you don't just get filled at a price that doesn't exist.

The idea that getting filled BETWEEN the spread is easier than getting filled at your posted bid or ask makes no sense and is incorrect.
  • #7,786
  • Jul 20, 2011 11:21am Jul 20, 2011 11:21am
Quoting fxchant
Yesterday's issue was not an MT4 issue, FX trading was halted completely.
O.K.

Occording to the poster that I responded to it was he that stated, " where execution on Desktop and over the phone was still working fine".

Going by that I did not see any problem whatsoever.

When exactly did that happen?
  • #7,787
  • Jul 20, 2011 11:25am Jul 20, 2011 11:25am
Quoting Astroman
O.K.

Occording to the poster that I responded to it was he that stated, " where execution on Desktop and over the phone was still working fine".

Going by that I did not see any problem whatsoever.

When exactly did that happen?
If you read my post, I gave examples where just MT4 was down (an MT4 server/bridge problem) and when Desktop went down. Yesterday, FX Trading over all software was halted completely for almost an hour, a very rare event. When trading is down completely, the idea that hundreds or thousands of clients can get to the Trade Desk by phone is a joke, hold times are lengthy, usually past when the problem is resolved. I was mostly pointing that out as a joke to the other guy's post, trying to say something negative about MBT. It doesn't really matter to me, downtimes are extremely rare.
FXChant Singing the World of Forex
  • #7,788
  • Jul 20, 2011 11:31am Jul 20, 2011 11:31am
Quoting fxking
i guess u r missing the points here.I still like MBT's execution speed but there is some issues that MBT REALLY need to address and solve it,thus i raised the problems that i am facing,i am NOT defaming MBT nor saying that they trade against us,or some sort of that.I personally feel that MBT has slacken but this may be my opinion only!?
I’m sorry, but it is hard to take this seriously when you reply to everyone’s post but mine asking for details.
  • #7,789
  • Jul 20, 2011 11:31am Jul 20, 2011 11:31am
Quoting Scalperforex
@IndyTrader-
The sequence of the topic is-
ForexQuant :
Hi jleblang,
I just started to play around with a MT4 demo account yesterday. However, I noticed that all buy limit orders can be matched at ask price instead of bid price, and I didnt get paid with all these limit orders too. Why?
ForexQuant :
Ok for example, I place a buy limit order at 1.6070(edited) when the current price was 1.6075/77. However, the buy limit order is not executed even if the price dropped to 1.6069/71. I thought my order should be executed before...
Scalperforex,

Sorry, I have to agree with Indy on this one. Milan’s statement “You can only buy on the ask, only sell on the bid” is incorrect.

Indy is also correct with this… Since your bids and asks are posted to be hit, you are statistically more likely to get filled buying on your bid or selling on your ask than getting a magically improved fill in between the spread.
  • #7,790
  • Edited 11:48am Jul 20, 2011 11:47am | Edited 11:48am
Again taking ForexQuant's example-

Ok for example, I place a buy limit order at 1.6070(edited) when the current price was 1.6075/77. However, the buy limit order is not executed even if the price dropped to 1.6069/71. I thought my order should be executed before the bid price touched 1.6069.

Your pending order to buy is at 1.6070.
The price moves from 1.60702/1.60711 to 1.60689/1,6070 and then 1.60687/1.60698.
When the prices crosses over- it might be filled fully or partially at 1.6070 (ask price) or often even 1.60699 or 1.60698. (better prices).
But it is not too often that it would jump all the way to the bid price 1.60689 and get filled. (and definitely not all the time).
This was what ForexQuant had asked and Milan answered.

@Jleblang- The above is exactly what i was talking about. I never spoke about getting filled between the spread, that was an interpretation that Indy made.
Please let me know which part of my answer was wrong with reference to the above example. (It's never too late for me to learn).
  • #7,791
  • Jul 20, 2011 11:53am Jul 20, 2011 11:53am
Quoting jleblang
Fxking,

I don’t understand what 99.9% uptime has to do with the question you are asking. Uptime has to do with execution. Quotes and execution are apples and oranges. Banks have quotes whether or not I can get an execution out of them.

MetaTrader servers and Desktop servers are totally different. Quotes are built into Desktop servers. MetaTrader pulls the quotes from our API. They are the same quotes, but they definitely route differently. To ask me that question is to basically wonder why two of the same items traveling over completely different...
justin,while i agree that 99.9% UP time is crucial for execution,what exactly i meant is the DIFFERENT prices quoted by MT4 & Desktop Pro platform.U have given some possible explanation abt the DIFFERENCES,but to be fair i need time to assess again,so now its too early to say,NO?
  • #7,792
  • Jul 20, 2011 12:33pm Jul 20, 2011 12:33pm
Quoting Scalperforex
Again taking ForexQuant's example-

Ok for example, I place a buy limit order at 1.6070(edited) when the current price was 1.6075/77. However, the buy limit order is not executed even if the price dropped to 1.6069/71. I thought my order should be executed before the bid price touched 1.6069.

Your pending order to buy is at 1.6070.
The price moves from 1.60702/1.60711 to 1.60689/1,6070 and then 1.60687/1.60698.
When the prices crosses over- it might be filled fully or partially at 1.6070 (ask price) or often even 1.60699 or 1.60698....
Scalperforex,

For that post, ForexQuant was referring to a Demo environment. In the live environment, his Bid would be reflected in the post and the behavior would be different.
  • #7,793
  • Jul 20, 2011 4:48pm Jul 20, 2011 4:48pm
Quoting fxchant
I have been with them for years as well (more than 7, to be exact), and here is what you should know.

1) If your entire year's trading strategy could be destroyed if your broker went down for 30 minutes once a year, pick a new strategy. Every single broker and exchange at some point in a year has tech issues. CME has been down. NASDAQ had massive quote issues for an hour on two occasions this year. Oanda has been down. All FX brokers have issues from time to time, no matter how complex their systems (OK, let's be honest, when a "deal desk"...
Thank you for your (and astroman too!) advise.

I understand that no broker is going to be perfect and meet all our requirements. That is why it is important to know their strength and weakness and adapt us to them, not them to us, we are just nobody.

BTW how about the slippage for your non-marketable limit order? What is your common expected slippage? Does the slippage always slip against you?
  • #7,794
  • Jul 20, 2011 8:21pm Jul 20, 2011 8:21pm
FX Trading is temporarily halted due to a system problem. We are working on the issue and should have it resolved shortly. We apologize for the inconvenience.

Best Regards,

MB Trading Futures, Inc.

That is not what I want to hear when I have 300,000 worth of trades at $30. a pip on. I could lose a fortune waiting. It is a heck of a lot more than an "inconvenience"!!!!! It is unforgivable.
  • #7,795
  • Jul 20, 2011 8:42pm Jul 20, 2011 8:42pm
Quoting rcbarlow
FX Trading is temporarily halted due to a system problem. We are working on the issue and should have it resolved shortly. We apologize for the inconvenience.

Best Regards,

MB Trading Futures, Inc.

That is not what I want to hear when I have 300,000 worth of trades at $30. a pip on. I could lose a fortune waiting. It is a heck of a lot more than an "inconvenience"!!!!! It is unforgivable.
I think you should probably read the last three pages of this thread. That was also from yesterday, not something new.
  • #7,796
  • Jul 20, 2011 9:01pm Jul 20, 2011 9:01pm
I have read all the posts. What has that got to do with anything?

Even though I use an emergency stop, it is close to 200 pips.

This would give me a heart attack and would be unforgivable.
  • #7,797
  • Jul 21, 2011 1:43am Jul 21, 2011 1:43am
Quoting rcbarlow
I have read all the posts. What has that got to do with anything?

Even though I use an emergency stop, it is close to 200 pips.

This would give me a heart attack and would be unforgivable.
They had one execution outage for under an hour. In the last year. That was my point. The thing you were quoting was not from today it was from Tuesday. It isn't something that happens all of the time.
  • #7,798
  • Jul 21, 2011 10:01am Jul 21, 2011 10:01am
Quoting IndyTrader
They had one execution outage for under an hour. In the last year. That was my point. The thing you were quoting was not from today it was from Tuesday. It isn't something that happens all of the time.
Not true at all, they had a complete MT4 meltdown, 5 hours offline in March 2011 live account. That is this year not last year.
http://www.forexfactory.com/showthre...65#post4470365
  • #7,799
  • Jul 21, 2011 11:48am Jul 21, 2011 11:48am
Quoting wwwin
Not true at all, they had a complete MT4 meltdown, 5 hours offline in March 2011 live account. That is this year not last year.
http://www.forexfactory.com/showthre...65#post4470365
As I specified, that is not an execution systems problem. That was MT4 only. You could execute through Desktop and Trade Desk on that incident. There was no execution outage.
  • #7,800
  • Jul 21, 2011 9:47pm Jul 21, 2011 9:47pm
Hi Justin,

I found this interesting info on MBT world. The screenshot was taken around 2220EST. Could you please tell me that whether the volume on the most active list refers to total lots transacted at MBT, or something else? BTW I have tried to counter check the volume with the tick volume on MT4 live but it does not match.

It is quite surprise that EURUSD is not the most active and guess what? GBPUSD is out of top 20!
Attached Image (click to enlarge)
Click to Enlarge Name: MostActive.PNG Size: 34 KB
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