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MB Trading Futures - Introduction

  • #9,141
  • Mar 14, 2012 1:34pm Mar 14, 2012 1:34pm
Quoting cts022
I didn't for the reasons you indicated. The damage was minimal as it only cost me a couple of pips. The only reason I was annoyed is because my physical connection has been somewhat buggy as of late, so I've become more dependent on their stop products in such a volatile environment. The erroneous execution just didn't inspire a lot of confidence.

That said, I think you're right in that if the consequences were of significance, they would make the effort to make the trade whole. Guess shit happens.
CTS,
I deleted my post as it was horribly written and unclear. Glad the spike did not hurt you too bad. I too am implementing more stops and the spikes do un-nerve me a bit, although I also trust MBT above most others to make it right. In the end, it's all part of doing business, but for us as individuals trusting MBT and others to do right, and for MBT who trusts their partners to do right. There may always be a weak link, but with hard work, documentation, and strong support from all members, it should be solvable/resolvable.
I personally screen-record every session, not only to see how well/poorly I trade and how the market moves, but also for instances just like this where real-time something happens, but upon reloading a chart, that event is gone. I must say that is the most un-nerving aspect I've seen today (with respect to this spike).

Cheers and happy pips,
BroncoCap
  • #9,142
  • Mar 14, 2012 1:36pm Mar 14, 2012 1:36pm
Quoting Traderji
Yup same here on my computer. Looks like they have retroactively cleaned out any evidence so obviously they must know the timestamps of the spike events. And yet Justin here is telling us that it happened during rollover...
Yeah, not good, and I was done trading for the day so I don't have a screen-recording, but trust me, I'm recording 100% of the session when I have trades on. No way I'll fall for that too. I also record each tick to file. I suspect the burden of proof will always be on us when such events occur. Just my suspicious two cents.
  • #9,143
  • Mar 14, 2012 1:41pm Mar 14, 2012 1:41pm
Quoting BroncoCap
Yeah, not good, and I was done trading for the day so I don't have a screen-recording, but trust me, I'm recording 100% of the session when I have trades on. No way I'll fall for that too. I also record each tick to file. I suspect the burden of proof will always be on us when such events occur. Just my suspicious two cents.
Here is the other spike pointed out by Traderji
Attached Image (click to enlarge)
Click to Enlarge Name: EUR.jpg Size: 241 KB
  • #9,144
  • Mar 14, 2012 3:30pm Mar 14, 2012 3:30pm
I was dinged more than I thought; sent an email to the order desk asking them to look in to it.
  • #9,145
  • Mar 14, 2012 3:36pm Mar 14, 2012 3:36pm
I am sure Justin isn't telling you bad ticks occur at rollover to deceive you... its a question that gets asked here almost every week, and it is very rare to have a bad tick occur during trading hours, I am sure he just issued the answer that he has to repeat over and over again almost weekly.

I record every tick on the BID side of EUR/USD to a database and we did have what appears to be two bad ticks at 11:13:01 AM EST one at 1.3110, and one at 1.3000. One way to judge these as bad ticks is the small size quoted. The tick at 1.3008 is 10,000 and may be legitimate, caused by someone trading in response to the fist bad tick at 1.3110. I choose to exclude it from my database, because the 6E has a low today of 3011. I only want representative data as I use this database for system development back testing.

Bad ticks are a fact of life. They occur in every data feed on every instrument, even expensive data feeds like eSignal.

One solution if this unnerves you is to get a good platform. A good platform allows you to apply you own last stage filter to catch any ticks that are beyond a percentage of the last tick that you decide on and set in the software. In NinjaTrader, you can also hold your stop locally and only trigger it based on your own filtered data.

If you decide to do that though you open up another can of worms... what if you lose internet connection while the stop is held on your machine locally and the market moves through the stop? Your stop doesn't fire and you lose $.

I know it sucks to lose money, but its just a fact of electronic trading that malfunctions can and do occur. Its part of the risk we take every time we have money working in the market. No matter what you, MB or nyone else does, there is no way to completely eliminate technology failure from trading. Entire exchanges can and do fail in the middle of the trading day from time to time, for example.

You have to decide for yourself if the data you are trading against is so full of errors you can't incur the risk. Although the roll over spikes occur they are just an annoyance. My experience with MB is that actual trading session bad ticks are very very rare. For myself I find MB's data so clean, I don't even employ the automatic last filter NinjaTrader is capable of. It's just something so rare I risk it.
Attached Image
  • #9,146
  • Mar 14, 2012 3:48pm Mar 14, 2012 3:48pm
Crassius,
Those ticks are relevant to my interests...the 200@34 and the 25 trades are mine. Not sure what happened...
  • #9,147
  • Mar 14, 2012 3:53pm Mar 14, 2012 3:53pm
Quoting Crassius
I am sure Justin isn't telling you bad ticks occur at rollover to deceive you...
Crassius, bang on as usual...the voice of reason and experience, if people have not noticed. The issue today, imho, is that the tick flow did cause erroneous trade(s) and that the bad ticks disappeared from the MBT historical data. For me, I am most curious about how MBT responds to CTS' trouble ticket. Dang do I miss Ninjatrader, used it when in Futures, but testing my current methodology at 1 microlot, paying the monthly fee for MBT trading on NT7 is not cost beneficial...I know you use Navigator still for orders and Ninja for charting/indicators/etc...nice!

CTS--please keep us up to date on how the trade reconciliation goes. I would surmise it will take more than an email. A phone call, member's area trouble ticket, email, and post here may all be necessary. Attack it from all angles. Good luck.

Cheers all!
  • #9,148
  • Mar 14, 2012 3:58pm Mar 14, 2012 3:58pm
Quoting cts022
Crassius,
Those ticks are relevant to my interests...the 200@34 and the 25 trades are mine. Not sure what happened...
Remember that the ticks of Crassius' and the MBT Nav charts are all just price changes at the bid. True sales data is not provided. Nonetheless, how ever those low, bad bids entered the system, they still caused stop triggering...

In reality, this is a grand learning experience for all, and, not that I wish data errors on myself or anyone, it is likely beneficial to experience such instances (while trading small--like I am now) such that you know what to expect in the future (when trading large--like we all hope to do). So, I hope you don't mind CTS, but I am learning vicariously through your experience. Beer is in the mail!
  • #9,149
  • Mar 14, 2012 4:23pm Mar 14, 2012 4:23pm
Quoting BroncoCap
So, I hope you don't mind CTS, but I am learning vicariously through your experience. Beer is in the mail!
Nah, I don't mind. My experience has generally been pretty positive with MBT so I'm certainly not fuming about it. Shit happens, and like Crassius said, it's rare.

I'll let you know how it goes!
  • #9,150
  • Mar 14, 2012 6:30pm Mar 14, 2012 6:30pm
I recently tried to place an order for GBP/NZD using Desktop and it gave me the message Order Rejected for Reason: Security is Restricted.

Are you not allowed to trade this pair? Why have quotes for it if you cannot trade it?

Is anyone else able to place orders for GBP/NZD?
  • #9,151
  • Mar 14, 2012 8:38pm Mar 14, 2012 8:38pm
  •  ilove
  • | Joined Dec 2011 | Status: because he first loved us. | 52 Posts
Horrible spike happened a few hours ago. over 150 pips I believe.

This is ......

Inserted Code
 Dear XXXXX,
 Erroneous quoting for EUR/USD pairs between 17:59:55 and 18:00:02 may have  resulted in unwarranted executions. All executions at or above 1.30467 are in  the process of being busted and any open trades returned to their proper state.  Please manage your positions accordingly. 
 We apologize for the issue if you were affected. We are looking into the  cause with our liquidity providers.
 Best Regards, 

MB Trading UK
3 Beeston Place
London SW1W  0JJ
www.mbtrading.co.uk 

44-20-3519-0603 - Customer Support and Trade  Desk
44-20-7197-8131 - Fax
If you can't tell, just wait. The market will.
  • #9,152
  • Mar 15, 2012 1:12am Mar 15, 2012 1:12am
Quoting ilove
Horrible spike happened a few hours ago. over 150 pips I believe.

This is ......


>>>>>snip>>>>snip>>>>> All executions at or above 1.30467 are in the process of being busted and any open trades returned to their proper state. >>>>snip >>>>>>snip>>>>>>>
MB Trading UK
No bad tick on my server, but http://www.cool-smileys.com/images/65.gif
  • #9,153
  • Mar 15, 2012 1:56am Mar 15, 2012 1:56am
Quoting ilove
Horrible spike happened a few hours ago. over 150 pips I believe.

This is ......

[code] Dear XXXXX,
Erroneous quoting for EUR/USD pairs between 17:59:55 and 18:00:02 may have resulted in unwarranted executions. All executions at or above 1.30467 are in the process of being busted and any open trades returned to their proper state. Please manage your positions accordingly.
We apologize for the issue if you were affected. We are looking into the cause with our liquidity providers.
Best Regards,

MB Trading UK
3 Beeston Place
London...
They busted all of the trades that were out of range and fixed completely. Nice job MB.
  • #9,154
  • Mar 15, 2012 5:50am Mar 15, 2012 5:50am
Quoting jleblang
JB3,

As our website states, Account Balance Corrections occur when you are flat at rollover and there is a difference at that time between the balance showing in your MT4 software and the true balance of your account (which is shown at the MBT Desktop/Pro level, which you can be logged into at any time to view, or view from our site). MT4 is not FIFO based, and we have to provide you with FIFO accounting. What this means is that as you carry positions, your cost basis in MT4 can stray from FIFO cost basis. Then, swaps that are being charged or...
Hei man
Is that right......?
EURUSD Bid 1.3005 Ask 1.37 when you make your oll over and make a hint over 7000 Points.
I have only one word for this practice: Piss-Take!
Now matter how you argument, I'm out! Curious practice! Taken away -5% of the deposits when you are making your flimsy roll over.
Piss-Take! ...and in this way is moreover your support service!
FXcube
Attached Image (click to enlarge)
Click to Enlarge Name: Error, 2012 March 14, 23h30CET, Extremely Strange.jpg Size: 471 KB
  • #9,155
  • Mar 15, 2012 6:20am Mar 15, 2012 6:20am
guys these kind of brokers are really piss takers and this is not the first time I've witnessed this .Please try to stick with 1 or 2 very reliable brokers ,I know no commisision is good but hey there is always a catch,and when you're caught you're burned.
If you can get Alpari or LMAX, that is all you need even intertrader is good.
  • #9,156
  • Mar 15, 2012 6:21am Mar 15, 2012 6:21am
Quoting magicpips
guys these kind of brokers are really piss takers and this is not the first time I've witnessed this .Please try to stick with 1 or 2 very reliable brokers ,I know no commisision is good but hey there is always a catch,and when you're caught you're burned.
If you can get Alpari or LMAX, that is all you need even intertrader is good.
never had any problems with MBT, I'm surprised to see this stuff here. I would highly recommend them, and my 2nd place would be Dukascopy, but they dont sign US traders.
  • #9,157
  • Mar 15, 2012 6:25am Mar 15, 2012 6:25am
Quoting Forexcube
Hei man
Is that right......?
EURUSD Bid 1.3005 Ask 1.37 when you make your oll over and make a hint over 7000 Points.
I have only one word for this practice: Piss-Take!
Now matter how you argument, I'm out! Curious practice! Taken away -5% of the deposits when you are making your flimsy roll over.
Piss-Take! ...and in this way is moreover your support service!
FXcube

Thats what I'm saying here all the time and people bash me and FF delete my posts.

MB is a company spiting products that should be in beta test. If they have a solid platform why rely on metatrader and stick on their costumers that kind of surprises?

The other option is to say that they are counting on this kind of things to compensate for their small spread.
  • #9,158
  • Mar 15, 2012 8:09am Mar 15, 2012 8:09am
Quoting QuadrupleX

...If they have a solid platform why rely on metatrader and stick on their costumers that kind of surprises?
Seems to me the issue is Metatrader, not MBT. Crassius uses NinjaTrader and is content w/ MBT (not to put words in his mouth). I use Navigator Pro and am content w/ MBT. MBT may have sold themselves to the devil offering MT4, but at least you have the choice to go to the dark side or not. Me personally, nope. There needs to be a poll to see the correlation between customer satisfaction and platform. My guess is at least r=0.800...

Anyways, as I said before, if you don't like a broker, test out others and leave. Not many fair and honest reviews on here, just whiners and criers. If I ever have an issue w/ MBT, I will post a complete review of the situation AND what MBT did or did not do to fix the problem. Without that info, posters just look trivial.

Thanks MBT for my Pay-For-Limits rebate today. Done for the day. C yas!
  • #9,159
  • Mar 15, 2012 8:34am Mar 15, 2012 8:34am
Quoting BroncoCap

Thanks MBT for my Pay-For-Limits rebate today. Done for the day. C yas!
I have no intention to offend you but you seem to value too much the Sh**t money they pay for your limit order.

If a couple bucks they spare makes you happy you should be at the traffic signs asking for money. You will definately make more than what MB is paying you.
  • #9,160
  • Mar 15, 2012 9:58am Mar 15, 2012 9:58am
Quoting Forexcube
Hei man
Is that right......?
EURUSD Bid 1.3005 Ask 1.37 when you make your oll over and make a hint over 7000 Points.
I have only one word for this practice: Piss-Take!
Now matter how you argument, I'm out! Curious practice! Taken away -5% of the deposits when you are making your flimsy roll over.
Piss-Take! ...and in this way is moreover your support service!
FXcube
Do you even read? This was covered in a prior post by others. There was a bad quote. They busted any trades from the spike. No one lost any money, including you.
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