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MB Trading Futures - Introduction

  • #9,661
  • Jun 27, 2012 5:46pm Jun 27, 2012 5:46pm
ok. will load up Ninja this week....z hw it goes. ty.
  • #9,662
  • Jun 27, 2012 6:09pm Jun 27, 2012 6:09pm
Quoting TraderPablo
TYVM for the info....do u have issues with OCO orders placed on Ninja going through MBT? I believe I read some line on Ninja about this issue...could be another sticking problem.....

NinjaTrader isnt perfect... It does not support some order types and has problems with some order management issues. This has kept me from spending the $1000 to buy a lifetime license. Overall I am pleased with it, but I'll just continue to use the Free version and manually enter orders into Desktop... which makes these incompatibility issues moot.

Here is a screen shot of all NinjaTrader incompatibility issues.... these apply only to paid license versions that enter and manage their orders through NinjaTrader itself. Click on the picture to make the text readable.
Attached Image (click to enlarge)
Click to Enlarge Name: MB Trading Ninja Incompatabilities.png Size: 16 KB
  • #9,663
  • Jun 27, 2012 9:30pm Jun 27, 2012 9:30pm
TYVM for the response. That is what I came across as well. Do u have experience with tradestation? p
  • #9,664
  • Jun 28, 2012 1:36am Jun 28, 2012 1:36am
Quoting TraderPablo
TYVM for the response. That is what I came across as well. Do u have experience with tradestation? p
Yes I bought it in 1995 and used it for years... until they screwed all of us who bought lifetime licenses and put all further upgrades on a lease only basis. I won't do business with those guys because they screwed us so hard on that deal.

You have to either pay through the nose per month for the software lease, or do a minimum amount of business with a less than desirable broker of FX. .... you'd be trading at IBFX through TradeStation.... to build credit toward the lease payment. Or you can feed it subscription based data and trade at MB.

Tradestation was a great platform though.... there was nothing else like it available to the retail customer in 1995.... now there are many competing packages... NinjaTrader being among the best.

But if you are OK with paying for a lease and subscription data to feed a software package, I think there are better, more modern packages. Have a look at Wave59 for a state of the art package.... you can lease that 21st century technology for about the same as 27 year old Tradestation....

http://www.wave59.com/
  • #9,665
  • Jun 28, 2012 11:28am Jun 28, 2012 11:28am
I understand...bad (Feng Shui) ...Sort of like GM....declaring Bankruptcy...screw the stock holder get tax money and ... well U know the rest of the story.....will shy away from GM product as a principal.... if I can help it... ..When I was trading on cbot (now CME) some brokers offered direct line to floor. We got e-signal or DBN d-feeds amongst a few others, combined it with, maybe trade station, CQG or Ensign as sftw. Very stable D-feeds and X-trader dom started to make its way in...Easy to use.....no outages hardly ever .....Now I知 dealing with FX brokers and their feeds which are all over the place and not very reliable yet... I知 trying to duplicate what I had once...maybe independent D-feed again with sftw. down the road. Just try to do it on the cheap right now until I have more experience/money in the accounts. What concerns me abt. MBT痴 DT is, having to learn a new order entry PF and later it will become obsolete...and go the Dom way...I知 not opposed to learn nevertheless. Do u know of a good instructional source/video for the DT. I知 going to download Ninja this weekend....probably need to change from 64-bit to 32 bit to make it work. BTW U are a huge help, and it is highly appreciated... I値l x wave59 ....
  • #9,666
  • Jun 28, 2012 10:26pm Jun 28, 2012 10:26pm
I have to say the quotes have held up quite well in the last hour given the abnormal volume for the Asian session.

Oh, and it's Friday...where's the iOS app update?
  • #9,667
  • Jun 29, 2012 5:35am Jun 29, 2012 5:35am
Quoting Crassius
Yes I bought it in 1995 and used it for years... until they screwed all of us who bought lifetime licenses and put all further upgrades on a lease only basis. I won't do business with those guys because they screwed us so hard on that deal.

You have to either pay through the nose per month for the software lease, or do a minimum amount of business with a less than desirable broker of FX. .... you'd be trading at IBFX through TradeStation.... to build credit toward the lease payment. Or you can feed it subscription based data and trade at MB.

Tradestation...
I heard TS really pissed off a lot of people back then. It helped spawn what is now MultiCharts. Did you ever use it?

A lot of people, while they may not agree with TS's business practices, still appreciate one of their main selling points: long historical tick and minute data for a ton of symbols. Not sure if you can still export the datafeed; I only imagine you can as MultiCharts still have TS listed as a supported datafeed. What people would do is "lease" the TS platform by opening a futures or forex (or stocks or whatever), then trading the minimum round-turn trades required to get the platform fee waived. I think it was 10 round turn trades for futures and 10 Standard forex account or 100 mini forex account trades. A strict "this-for-that" relationship.
Measure trends automatically with zero lag
  • #9,668
  • Jun 29, 2012 6:20am Jun 29, 2012 6:20am
Quoting ybfjax
I heard TS really pissed off a lot of people back then. It helped spawn what is now MultiCharts. Did you ever use it?

A lot of people, while they may not agree with TS's business practices, still appreciate one of their main selling points: long historical tick and minute data for a ton of symbols. Not sure if you can still export the datafeed; I only imagine you can as MultiCharts still have TS listed as a supported datafeed. What people would do is "lease" the TS platform by opening a futures or forex (or stocks or whatever), then trading...
I paid $3500 for a lifetime license that only lasted 5 yrs.... then they wanted recurring monthly payments or you could pay for that with a minimum number of trades....

I'm not giving them any ongoing business after they just screwed me out of my paid license... ever.... its been 12 years and I'm still pissed.

MultiCharts is an MB parter and will take MB's data feed.

Never used MultiCharts, but have loaded it up and looked at it.... both TradeStation and MultiCharts are IMHO old and have been superceded by more modern implementations like NinjaTrader, whose seamless intergration with DotNet is a strong feature.... and Wave59 is just a sweet as hell platform built by a down in the trenches day trader who got fed up with platforms built by computer programmers that don't trade... He wants a pretty penny for it though....
  • #9,669
  • Jun 29, 2012 9:31am Jun 29, 2012 9:31am
Hi,

I have a question about execution priority. Who will have his order executed first between liquidity provider and MBT traders ?
Suppose EUR/USD is at bid 1.2688 for 5M and ask 1.2689 for 5M. So the bid is probably a liquidity provider. I place a buy limit order at 1.2688 for 100K. The new bid is now 1.2688 for 5.1M. Someone places a market order to sell 100K. Will I be filled before the liquidity provider ?
Any idea ? Justin ?
  • #9,670
  • Jun 29, 2012 2:10pm Jun 29, 2012 2:10pm
Quoting Elsejul
Hi,

I have a question about execution priority. Who will have his order executed first between liquidity provider and MBT traders ?
Suppose EUR/USD is at bid 1.2688 for 5M and ask 1.2689 for 5M. So the bid is probably a liquidity provider. I place a buy limit order at 1.2688 for 100K. The new bid is now 1.2688 for 5.1M. Someone places a market order to sell 100K. Will I be filled before the liquidity provider ?
Any idea ? Justin ?
If there are banks and customers on the EXN at the same price, their routing engine will always hit customers first.
  • #9,671
  • Jun 30, 2012 9:36pm Jun 30, 2012 9:36pm
Quoting Crassius
I paid $3500 for a lifetime license that only lasted 5 yrs.... then they wanted recurring monthly payments or you could pay for that with a minimum number of trades....

I'm not giving them any ongoing business after they just screwed me out of my paid license... ever.... its been 12 years and I'm still pissed.

MultiCharts is an MB parter and will take MB's data feed.

Never used MultiCharts, but have loaded it up and looked at it.... both TradeStation and MultiCharts are IMHO old and have been superceded by more modern implementations like...
Just went through initial checking of ninja ...but no go .. could not get price lines with prices on it on hi/lo bars efficiently placed on charts......back to mt4 ..until I値l find something more user friendly . I知 not a programmer just a trader......
  • #9,672
  • Jun 30, 2012 9:48pm Jun 30, 2012 9:48pm
Quoting TraderPablo
Just went through initial checking of ninja ...but no go .. could not get price lines with prices on it on hi/lo bars efficiently placed on charts......back to mt4 ..until I値l find something more user friendly . I知 not a programmer just a trader......

Only you can judge what is best for you to use --

IMHO the learning curve on a package is commensurate with its power and capabilities. It is no doubt an investment in time to master the capabilities of a powerful software package. But it does pay dividends for years to come once that investment is made.
  • #9,673
  • Jun 30, 2012 9:57pm Jun 30, 2012 9:57pm
Quoting Crassius
Only you can judge what is best for you to use --

IMHO the learning curve on a package is commensurate with its power and capabilities. It is no doubt an investment in time to master the capabilities of a powerful software package. But it does pay dividends for years to come once that investment is made.
no time to f...around...been there done that...tyvm for ur input though...tp
  • #9,674
  • Jun 30, 2012 10:00pm Jun 30, 2012 10:00pm
Quoting TraderPablo
no time to f...around...been there done that...tyvm for ur input though...tp

checking CQG....
  • #9,675
  • Jul 2, 2012 3:30am Jul 2, 2012 3:30am
July sure hasn't started well for MB Trading's website. Not sure what is going on, but could not connect to it for much of today.
  • #9,676
  • Jul 2, 2012 3:44am Jul 2, 2012 3:44am
Quoting Jb3
July sure hasn't started well for MB Trading's website. Not sure what is going on, but could not connect to it for much of today.
No issue for me
  • #9,677
  • Jul 2, 2012 12:24pm Jul 2, 2012 12:24pm
Quoting Jb3
July sure hasn't started well for MB Trading's website. Not sure what is going on, but could not connect to it for much of today.
no issues here neither
  • #9,678
  • Edited 2:51pm Jul 2, 2012 2:25pm | Edited 2:51pm
Do we have any progress with making the Free EXN plan available for all accounts? Trading with MT4 is comparable to trading with your eyes closed and now that the Pay for Limits program is reduced from $4 rebates to $1 rebates, it's not nearly as fun.

MB isn't really offering anything too special anymore... My IB account is now more active than my MB account...
  • #9,679
  • Jul 2, 2012 5:26pm Jul 2, 2012 5:26pm
Quoting xpete911
Do we have any progress with making the Free EXN plan available for all accounts? Trading with MT4 is comparable to trading with your eyes closed and now that the Pay for Limits program is reduced from $4 rebates to $1 rebates, it's not nearly as fun.

MB isn't really offering anything too special anymore... My IB account is now more active than my MB account...
How much does IB pay in rebates?
  • #9,680
  • Jul 2, 2012 6:31pm Jul 2, 2012 6:31pm
No rebates from IB. They fix their spread so it's almost always .5pips (eurusd) and $5.00/roundtrip/lot so it's almost a fixed $10 per lot for the round trip for market or limit orders. They have their own issues, but if MB doesn't offer something significant, why should we stay?

All large brokers seem to offer something significant. MB Trading offered $4.00 rebates on limit orders (now they don't) and the worst customer service in the industry. IB offers the cheapest prices, most professional accounts, almost as horrible as MB customer service, and all-in-one accounts. TradeStation offers the broker/platform/data all-in-one, decently low costs (highest of the 3), and good customer service.
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