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MB Trading Futures - Introduction

  • #7,921
  • Aug 14, 2011 12:50am Aug 14, 2011 12:50am
Quoting ForexQuant
MBT is going to introduce a new commission structure. Are they going to remove the get paid for limit orders? Please dont do that because my strategy that take advantage of limit orders payment is in the final stage of testing! http://www.mbtrading.com/images2/forex/fxhero.jpg
Their press releases state that Pay for Limits is permanent, so I would hope it doesn't change unless we get something better. Would they announce something worse?
  • #7,922
  • Aug 14, 2011 3:40am Aug 14, 2011 3:40am
Quoting IndyTrader
Their press releases state that Pay for Limits is permanent, so I would hope it doesn't change unless we get something better. Would they announce something worse?
Yup I have read that statement in their press release too. However they may remove it if it is counter productive. who knows?
  • #7,923
  • Aug 15, 2011 10:06am Aug 15, 2011 10:06am
FYI - www.mbtrading.co.uk is now active.
  • #7,924
  • Aug 15, 2011 10:14am Aug 15, 2011 10:14am
Just wondering why MB Trading has a $400 minimum starting balance amount when I see many other brokers that have no minimum or very small amounts.
  • #7,925
  • Aug 15, 2011 11:15am Aug 15, 2011 11:15am
I have a live account using Desk Top Pro that I am still trying to learn. I have watched the videos in the MBT World training area and tried to figure this out, but I think there must be an easier way to do what I want.

I would like to take advantage of the positive commission Limit Orders whenever possible. I like entering a Limit order from the chart by being able to move the limit order line to where I like it rather than putting in a price or using the Level II price picking. The problem I have is how to set a stop loss AND a take profit (both using limits). If I try to use the combination Limit+TTO, the adjustable Order Entry Limit line does not appear on the chart like when entering using just a Limit order. If I use a Limit order to initiate an order, then I can use the TTO order and it works nice in allowing me to move the TTO lines around, but it will still result in getting out of the trade using a Market order rather than a Limit order. Is there any way to place concurrent stop orders and take profit orders using Limit orders?

I apologize if this is a long-winded question about something that must be pretty basic or obvious. I just haven't figured it out yet.

Thanks for any help.
  • #7,926
  • Aug 15, 2011 1:04pm Aug 15, 2011 1:04pm
Quoting vbmark
Just wondering why MB Trading has a $400 minimum starting balance amount when I see many other brokers that have no minimum or very small amounts.
vbmark,

Every broker has different requirements, there is no standard rule.
  • #7,927
  • Aug 15, 2011 1:37pm Aug 15, 2011 1:37pm
Greetings to all

I like ECN trading environment but im frustrated because I cant get my favorite EA to work with my new ECN broker (MB Trading). Keep getting this message:

EURUSD,M5: Error opening BUY order : no error

Can Any one help me code it so that it will work

Thanks so Much.
Attached File(s)
File Type: mq4 Universalmacrossea_www.forex-instruments.info.mq4   19 KB | 199 downloads
File Type: ex4 Universalmacrossea_www.forex-instruments.info.ex4   15 KB | 205 downloads
  • #7,928
  • Aug 15, 2011 2:11pm Aug 15, 2011 2:11pm
Quoting jleblang
...there is no standard rule.
I didn't ask why everyone was different.

I would really like to start with $200. My friends have already opened accounts with IBFX because they allow you to start with a small amount. We want to get a feel for a live account without the risk of loosing a lot by doing something like accidentally forgetting to set a stop loss or whatever.

I would prefer MB Trading but it is tempting to just open a small account with IBFX and start trading instead of having to start with $400.

Is there someone I can email to request starting with a smaller amount?
  • #7,929
  • Aug 15, 2011 2:48pm Aug 15, 2011 2:48pm
I was able to text chat with a MBT support person who answered my question and a couple others. Thanks for the help.

Toad
  • #7,930
  • Aug 15, 2011 6:21pm Aug 15, 2011 6:21pm
Quoting vbmark
I didn't ask why everyone was different.

I would really like to start with $200. My friends have already opened accounts with IBFX because they allow you to start with a small amount. We want to get a feel for a live account without the risk of loosing a lot by doing something like accidentally forgetting to set a stop loss or whatever.

I would prefer MB Trading but it is tempting to just open a small account with IBFX and start trading instead of having to start with $400.

Is there someone I can email to request starting with a smaller...
$400 is the minimum. However, you can reduce your risk by trading .1 lot or 1000 currency units. Even if you accidentally forgot a stop loss, at .1 you'll be risking very little.
  • #7,931
  • Aug 16, 2011 12:40am Aug 16, 2011 12:40am
Quoting jleblang
Update: This has been processed for you and the normal wire fees were covered by us, thank you for your patience.

Just wanted to confirm this, after i got Justin involved he had everything done within an hour

Thanks for your help
  • #7,932
  • Edited 6:53am Aug 16, 2011 3:24am | Edited 6:53am
Quoting jleblang
FYI - www.mbtrading.co.uk is now active.
Justin,

Is it possible to hedge in the UK version of Desktop Pro?

thx
"hey hey what can I do"
  • #7,933
  • Aug 16, 2011 4:15am Aug 16, 2011 4:15am
Quoting jleblang
$400 is the minimum. However, you can reduce your risk by trading .1 lot or 1000 currency units. Even if you accidentally forgot a stop loss, at .1 you'll be risking very little.
Is this considered a micro or nano lot? Would this make the pip value a dime or a penny?

Thank you.
  • #7,934
  • Aug 16, 2011 9:41pm Aug 16, 2011 9:41pm
Quoting vbmark
Is this considered a micro or nano lot? Would this make the pip value a dime or a penny?

Thank you.
dime
  • #7,935
  • Aug 16, 2011 10:46pm Aug 16, 2011 10:46pm
Quoting jleblang
$400 is the minimum. However, you can reduce your risk by trading .1 lot or 1000 currency units. Even if you accidentally forgot a stop loss, at .1 you'll be risking very little.
Although risking very little, at that amount I am concern about the fill and slippage
  • #7,936
  • Aug 17, 2011 12:09am Aug 17, 2011 12:09am
Quoting torroray
Although risking very little, at that amount I am concern about the fill and slippage
I think you have just demonstrated the reason why they have a minimum deposit. It's to keep small traders from tying up their support lines concerned that they lost a few cents on slippage of their nano-lot order. If they made their minimum deposit $5,000, they would be way better off.

And stop the crap about worrying about fills and slippage. There is no way you will be trading different lot sizes with $200 vice $400. Go find a different broker.
Cap
  • #7,937
  • Aug 17, 2011 8:07am Aug 17, 2011 8:07am
Quoting vbmark
I didn't ask why everyone was different.

I would really like to start with $200. My friends have already opened accounts with IBFX because they allow you to start with a small amount. We want to get a feel for a live account without the risk of loosing a lot by doing something like accidentally forgetting to set a stop loss or whatever.

I would prefer MB Trading but it is tempting to just open a small account with IBFX and start trading instead of having to start with $400.

Is there someone I can email to request starting with a smaller amount?...

you are making a lot of stories because you want start with just 200 $ investment.......this is ridiculous......change broker .....Oanda dasn't have a minimum......
  • #7,938
  • Aug 17, 2011 8:09am Aug 17, 2011 8:09am
Quoting The Captain
I think you have just demonstrated the reason why they have a minimum deposit. It's to keep small traders from tying up their support lines concerned that they lost a few cents on slippage of their nano-lot order. If they made their minimum deposit $5,000, they would be way better off.

And stop the crap about worrying about fills and slippage. There is no way you will be trading different lot sizes with $200 vice $400. Go find a different broker.

Wow tough crowd.

I feel that those with limited capital be able to get a good fill with minimum slippage to encourage them to grow their small account and prove their effort and time spent is not wasted.

A bad fill and slippage drastically effect a trading system and they have to go back to the drawing board to include this parameters as part of money management of their system.

Quote
There is no way you will be trading different lot sizes with $200 vice $400. Go find a different broker.
You are right but small trader are attracted to MBT because they want to try out an ECN broker. They just can stay with Oanda or open with LMAX
  • #7,939
  • Aug 17, 2011 8:33am Aug 17, 2011 8:33am
Quoting torroray
They just can stay with Oanda or open with LMAX
Yeah, that's a great idea:

http://forexmagnates.com/lmax-takes-...-million-loss/
  • #7,940
  • Aug 17, 2011 12:06pm Aug 17, 2011 12:06pm
Justin,

Is there any chance that MB Trading would consider changing to servers that use an NYC close? What I mean by that is for instance the 4 hour candles close at 9AM, 1PM, 5PM (NYC Time) etc. Why do certain brokers use different close times. It sounds like many institutional traders trade of that specific close. Any insight would be helpful. I currently use the FxPro demo for my charting (because they use this close) and enter orders though MBTrading.... I like MBTrading but would love to be able to use the MT4 charts so thought I would ask.

Thanks
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