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MB Trading Futures - Introduction

  • #8,981
  • Feb 10, 2012 10:25am Feb 10, 2012 10:25am
Feb 8, 2012 11:15am:
Quoting IndyTrader
And he knows this on his second post. :-)

By the way, Justin, I have to say that my PFL account, the speeds of execution have been flying the last few days. My guess would be that you guys made some changes that caused those non-crossed quote issues a week or two ago, then you fixed that, and now your executions are vastly improved. I haven't had a single slow fill this week. Anything you can confirm?
Even better execution than Januari?

Jan 21, 2012 3:37pm:
Quoting IndyTrader
Things have been much faster and more stable since Wednesday, nice work guys.
You are a great cheerleader..
  • #8,982
  • Feb 10, 2012 1:55pm Feb 10, 2012 1:55pm
Quoting Zupra
Feb 8, 2012 11:15am:


Even better execution than Januari?

Jan 21, 2012 3:37pm:


You are a great cheerleader..
Thanks for your second post promoting some random broker on the MB thread. Ops?
  • #8,983
  • Feb 10, 2012 4:46pm Feb 10, 2012 4:46pm
Quoting IndyTrader
Thanks for your second post promoting some random broker on the MB thread. Ops?
You have created more than 400 promote posts on this forum.
Seriously, are you employed by MBT?

http://www.forexfactory.com/search.php?searchid=1378584
  • #8,984
  • Feb 10, 2012 5:02pm Feb 10, 2012 5:02pm
Quoting Zupra
You have created more than 400 promote posts on this forum.
Seriously, are you employed by MBT?

http://www.forexfactory.com/search.php?searchid=1378584
If IndyTrader really has 400 promote posts then I guess he should be given Promoter of the Year title. Although he probably also gets some bonus points to his MBT trading account, which he'll never be able to collect.

Is MBT a good firm, what's their spread for EURUSD, are there connectivity issues, are there requotes? Could somebody who doesn't work there (promote them) give an honest response. Thanks!
  • #8,985
  • Feb 11, 2012 4:39am Feb 11, 2012 4:39am
Quoting Pommegranate
Is MBT a good firm, what's their spread for EURUSD, are there connectivity issues, are there requotes? Could somebody who doesn't work there (promote them) give an honest response. Thanks!
And how can a man answer in a positive way without being labeled as MBT promoter or employee?

Yes, MBT is a good firm. Within some 5 years I am with them I did not met any requotes or other "foul dealings" problems. Once you get accustomed to issuing only limit and stop-limit orders, you will never be aware of any problems. And using these type of orders with mbt navigator is incomparably easy and comfortable. Without any limits, any minimum distances from the price etc.

I would say that MBT doesn't have more problems with connectivity than any other broker. From the forum I see there are perhaps some issues with meta trader implementation. This, however, is quite comprehensible since mt4 was certainly not intended for use with ECN broker. And, honestly, why should anyone use mt4, with its limited unpleasant way of issuing limit orders, when there is mbt navigator?
  • #8,986
  • Feb 11, 2012 5:07am Feb 11, 2012 5:07am
Thanks Jan, that's fair enough. I've been unfairly labeled myself, so I know what you mean. I'm currently with Peppersone and ArmadaMarkets, and thinking maybe I should add MB as my 3rd br.ker. I am very cautious.
  • #8,987
  • Feb 11, 2012 5:21am Feb 11, 2012 5:21am
Quoting Pommegranate
Thanks Jan, that's fair enough. I've been unfairly labeled myself, so I know what you mean. I'm currently with Peppersone and ArmadaMarkets, and thinking maybe I should add MB as my 3rd br.ker. I am very cautious.
I think you won't be sorry for that. Main advantages from my viewpoint: no limits on scalping, no limits on price distances (you know, those 10pips or so from price to SL) and extremely ease use of limit orders.

After some experience with forex I would never ever use a market order. Under no circumstances! Always limit order for purchase - and stop-limit for TP or SL. Now, the new rule of putting some charge on excess orders could seem to have some effect, since I rarely even use trailing stops (market order, you know) and use manual shifting of my stop-limit SL orders but since there is a threshold of 100 orders I think that even this won't be any problem.
  • #8,988
  • Feb 11, 2012 8:25am Feb 11, 2012 8:25am
Quoting JanPoko
And how can a man answer in a positive way without being labeled as MBT promoter or employee?

Yes, MBT is a good firm. Within some 5 years I am with them I did not met any requotes or other "foul dealings" problems. Once you get accustomed to issuing only limit and stop-limit orders, you will never be aware of any problems. And using these type of orders with mbt navigator is incomparably easy and comfortable. Without any limits, any minimum distances from the price etc.

I would say that MBT doesn't have more problems with connectivity than...
I have been trading with them since January 2009 and concur with the above thoughts.

Like any broker they are not perfect... if you look back through this thread you will find complaints. One thing MB Trading has demonstrated over and over again to me is their willingness to listen to their customers and make changes that are desired or needed.

There is an idea exchange on their website where every idea submitted is read and answered by the CEO, usually within one day. At first I thought this was a nice marketing gimmick, but I now think this is a very wise management practice. The CEO is not insulated from the real world, but is constantly in touch with his customers and shaping his product to deliver what they want.

Sometimes I will complain here as well. A little public shaming is not always a bad thing, and might spur a quicker response. Also, regulars to this thread post problems to see if they are unique to them or system wide. It is hard to tell at first with some problems if it stems from your implementation or MB's. Some of the issues you will see in this thread are the result of the user and his set up or his operation of his set up,not MB's offering.

Of course if they fix something that has been publicly complained about a thanks and public acknowledgement that the problem has been addresses is owed. When a poster makes such acknowledgement he may get jumped on as a promoter by self appointed thread police.

Who are these thread police? This thread has undoubtedly been used in the past by competitors that felt the only way to compete with MB was to try to tear it down in this thread. I'll leave it to anyone smart enough to investigate a broker by reading this thread to make a judgment as to the validity of any one post.

I don't use MT4 and have no idea why anyone would want to use such a dumbed down, simplified platform for anyway. One of MB's strengths is the wide variety of order types that give a trader great flexibility in entering and managing their trades. Among many other reasons not to use MT4, throwing away that flexibility by limiting yourself to Mt4's set of order types just shackles the trader. It would seem from the sheer volume of complaints that MT4 has more problems that any other implementation traders may use with MB.

This leads me to another MB strength that isn't well touted on their website. MB has wide variety of ways to access its quotes and trade them. You can find a list of supported third party software here:

http://www.mbtrading.com/partnerprogram.aspx

I personally use NinjaTrader for charting and enter orders manually through Desktop. When you use one of these third party programs you have to understand that MB will provide support for connectivity only. They don't have the source code for, or any knowledge about the upgrade paths of the software, so you need to get support from the software vendor if you choose to use these tools. By providing connectivity for these tools MB opens up the options traders have, but traders need to be self sufficient if they choose to use these tools.
  • #8,989
  • Feb 11, 2012 8:55am Feb 11, 2012 8:55am
Here, I see, we slightly differ. I use MT4 regularly. But for the charting only. As far as charting is concerned, mt(n) platform is a champion without competition. I have mt4 charts on the screen all the day and above them mbt navigator. The symbiosis is wonderful.
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  • #8,990
  • Feb 11, 2012 9:05am Feb 11, 2012 9:05am
Quoting JanPoko
Here, I see, we slightly differ. I use MT4 regularly. But for the charting only. As far as charting is concerned, mt(n) platform is a champion without competition. I have mt4 charts on the screen all the day and above them mbt navigator. The symbiosis is wonderful.
To each his own I guess... at least you eschew order entry through that dinosaur you insist on using
  • #8,991
  • Feb 11, 2012 10:10am Feb 11, 2012 10:10am
Quoting RoBiK
spoke too soon... around 15:00 GMT the lag got worse (up to 55 seconds) and than the quote server dropped pants... err... i mean the connection
I hade the same problem 2012-02-02, tried to close some GPB-USD orders with market orders, 5-6 pip slippage and 30-60 seconds executing time, closed the rest of the open orders with limit orders.

My EA:s use market orders, so limit orders won´t solve my problems (time to time slow executing) with MBT.
  • #8,992
  • Feb 11, 2012 12:29pm Feb 11, 2012 12:29pm
Quoting JanPoko
...
And, honestly, why should anyone use mt4, with its limited unpleasant way of issuing limit orders, when there is mbt navigator?
I agree, MT4 is an ugly platform. But it is the only way to run most EAs & Signals. So, until that changes, no choice but to live with it (for that use anyway).
  • #8,993
  • Feb 11, 2012 4:06pm Feb 11, 2012 4:06pm
Quoting Crassius

I personally use NinjaTrader for charting and enter orders manually through Desktop. When you use one of these third party programs you have to understand that MB will provide support for connectivity only. They don't have the source code for, or any knowledge about the upgrade paths of the software, so you need to get support from the software vendor if you choose to use these tools. By providing connectivity for these tools MB opens up the options traders have, but traders need to be self sufficient if they choose to use these tools.
Crassius, are you running both ninja and desktop from the same computer? I was under the impression you can not connect to MB through ninja (or any 3rd party charting application) and also connect to desktop for order entry at the same time. This is the setup I would like.
  • #8,994
  • Feb 11, 2012 5:09pm Feb 11, 2012 5:09pm
Quoting JanPoko
And how can a man answer in a positive way without being labeled as MBT promoter or employee?
You can't. This board is constantly attacked by people that create a new username and come bash on MBT and never explain their "issues." There are many of us that stand up for our broker. There are so few quality, trustworthy brokers in the FX arena, people should always at least be given a fair shot at knowing who they are and then make their own decisions. I subscribe to this thread, it is the only thread on FF that I subscribe to, and therefore I see all posts. I do so because it keeps me informed about new things MB is doing and also what people are saying, and when I see something that I consider to be BS (such as a new user who created his ID simply to come bash MB), I take two seconds out of my day to respond and support my broker, who, just like you, I have used for 5 years and experienced no significant issues. Yes, anyone can have a one-off connectivity issue, technology is technology, but MB Trading earns the recognition that they get in the industry. Anyone that has a legit problem (and many have posted charting issues, etc. here and should) should certainly voice those concerns and go to support and get them fixed, but as an overall trading experience, especially once you get used to the Desktop Pro platform and all of the order types, I don't think there is a better one out there, and I've tried just about all of them.
  • #8,995
  • Edited 1:34am Feb 12, 2012 1:08am | Edited 1:34am
Quoting VivaLaTrader
I agree, MT4 is an ugly platform. But it is the only way to run most EAs & Signals. So, until that changes, no choice but to live with it (for that use anyway).
Not to argue with you, but rather to corrrect the record for anyone reading this thread there are other options for automated trading, even for running MT4 code.


NinjaTrader
Neoticker
MultiCharts

all provide a programming language to automate trading.

TradeBullet can take the code from MT4 and many other platforms, including TradeStation and run the code and execute the trades in your MB Trading account.

You also have the MB Trading SDK which allows you to build a custom application.

If you are a trader looking for automation, please understand you are not chained to MT4.
  • #8,996
  • Edited 5:50pm Feb 12, 2012 1:33am | Edited 5:50pm
Quoting mediaboy
Crassius, are you running both ninja and desktop from the same computer? I was under the impression you can not connect to MB through ninja (or any 3rd party charting application) and also connect to desktop for order entry at the same time. This is the setup I would like.
I have run NinjaTrader several different ways, but my current set up is to run the free version of Ninja 7 which gets its feed from Desktop 11.8.0.38 which is run simultaneously with NinjaTrader when launched from within NinjaTrader.

You need to install a special version of Desktop 11.8.0.38 available here before you install NinjaTrader.

http://www.ninjatrader.com/Connectio...tion-Guide.php

Set NinjaTrader to launch Desktop on connection in the connection setup wizard, and connect to MB through the NinjaTrader interface. The instructions in the above linked Connection Guide will show you how to set this up.

When you launch Desktop through NinjaTrader this way, it looks a little different with all the windows stacked with a tabbed interface to page between them. It's all there and works exactly the same way, but you can not change the layout.

You can also launch Desktop through windows and run it by itself. Then it will look exactly like the version you get when you download it from MB, and you can change the layout and settings under preferences. It will save your settings, but your layouts will not display when you launch Desktop through NinjaTrader. You MUST NOT launch Desktop on its own (outside the connection interface of Ninjatrader ) when NinjaTrader is running.

Setup this way you can enter and manage trades through Desktop, while charting with your custom indicators. You can program custom systems that sound alarms and draw entry signals on the chart for you to enter into Desktop manually.

If you want your system to be fully automated then you have to subscribe to NinjaTrader so that orders are entered and managed through it, and not Desktop.
  • #8,997
  • Feb 12, 2012 11:04am Feb 12, 2012 11:04am
I have decided 99% to open an account with MB Trading. I have been using a demo MT4 account and I have a question for anyone with a live account on MT4 - are you able to set an expiration for pending orders? It is greyed out for me.

Thanks everyone.
  • #8,998
  • Feb 12, 2012 11:08pm Feb 12, 2012 11:08pm
Quoting fscrp
I have decided 99% to open an account with MB Trading. I have been using a demo MT4 account and I have a question for anyone with a live account on MT4 - are you able to set an expiration for pending orders? It is greyed out for me.

Thanks everyone.
No, all Forex orders are GTC. You have cancel.
  • #8,999
  • Feb 13, 2012 9:48am Feb 13, 2012 9:48am
I closed one EUR-USD order for about 15 hours ago, 50-60 seconds executing time with market executing.
  • #9,000
  • Feb 13, 2012 10:55am Feb 13, 2012 10:55am
Quoting Zupra
I closed one EUR-USD order for about 15 hours ago, 50-60 seconds executing time with market executing.
Zupra,

I’m not exactly clear what you’re saying, but I’d be happy to take a look at your trade. I see that you are new to the boards, so here’s how we do it. Please private message me your account number and the trade (if MT4, provide Order ID). I will look into it and report back.
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