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MB Trading Futures - Introduction

  • #10,121
  • Feb 21, 2013 1:57pm Feb 21, 2013 1:57pm
Hey Guys - I'm still around. If there is any specific questions you would like me to answer, please ask with "Attn: Justin" so I don't miss them, or send me a link to a past question.

Hope everyone is doing well! Special thanks to everyone who has been assisting FF members with their MB related questions, it is really great to see.
  • #10,122
  • Feb 21, 2013 2:25pm Feb 21, 2013 2:25pm
Quoting jleblang
Hey Guys - I'm still around. If there is any specific questions you would like me to answer, please ask with "Attn: Justin" so I don't miss them, or send me a link to a past question.

Hope everyone is doing well! Special thanks to everyone who has been assisting FF members with their MB related questions, it is really great to see.
Welcome Back
Was asking about you before some posts , Nice to see you around
  • #10,123
  • Feb 22, 2013 12:37pm Feb 22, 2013 12:37pm
Same problem here.

Quoting smittens4212
Is anyone using the mobile platform?

For the past few days I haven't been able to access the orderbook. It either times out telling me "Operation Could Not Be Completed" or it claims I don't have any open orders, although if I am at home I can see on my PC that I do in fact have open orders. Very frustrating when I want to modify/cancel open orders and don't have access to a PC, I have to call the helpdesk to have them do anything I need.
  • #10,124
  • Feb 23, 2013 12:55pm Feb 23, 2013 12:55pm
Is MBT Desktop Pro order confirmations as fast as Oanda's FxTrades's?
  • #10,125
  • Feb 23, 2013 1:05pm Feb 23, 2013 1:05pm
Quoting dforant1
Is MBT Desktop Pro order confirmations as fast as Oanda's FxTrades's?
it's almost instant.....hwvr...the platform is somewhat a "memory hog"...u can reload with "clear cache" once or twice a day and no problemo....what charting sftw ru going to use? u also may like the pay for limits..it helps reducing comission costs...use at Ur discretion....
  • #10,126
  • Feb 23, 2013 1:13pm Feb 23, 2013 1:13pm
Quoting dforant1
Is MBT Desktop Pro order confirmations as fast as Oanda's FxTrades's?
No.

Oanda as a market maker is taking the other side of every trade you make, so the only thing that needs to happen is for them to receive your message, and send back a confirmation.

After MB receives your message, it has to route the order, then send you a confirmation (fill etc) message. That extra routing step can be very fast, if it matches against another MB customer, or truthfully it can be painfully slow as a match against the lowest price algorithm runs its course.

In the worst of all scenario's, during a fast moving market, that algorithm can have your order bouncing around looking for the lowest price. (market order) This is what leads to slippage.

You'll have to search back through the thread to find Justin's periodic detailed explanation of what the algorithm does exactly to fully understand its ins and outs. In short it has to do what it does in order to ensure that you are getting the best available price in the market. In fast conditions it can lead to slippage as the market moves while your order is still seeking the best available price.

At Oanda what would happen during the same conditions is they would widen the spread.. maybe ten pips... but you would get instant fill... just off the market price by some portion of the width of the artificially widened spread. (kinda like slippage, eh?)

Trade small and get a feel for it in various market conditions.

Both Oanda and MB have their merits as far as trade execution goes and drawbacks in different market environments, and trader requirements. Which one is best depends on the trader and his requirements...

except for the fact that with Oanda, there is always that troubling conflict of interest.

Customer service, ease (and free) ability to move money in and out of MB is far superior to Oanda, IMHO.
  • #10,127
  • Feb 23, 2013 1:18pm Feb 23, 2013 1:18pm
Quoting Crassius
No.

Oanda as a market maker is taking the other side of every trade you make, so the only thing that needs to happen is for them to receive your message, and send back a confirmation.

After MB receives your message, it has to route the order, then send you a confirmation (fill etc) message. That extra routing step can be very fast, if it matches against another MB customer, or truthfully it can be painfully slow as a match against the lowest price algorithm runs its course.

In the worst of all scenario's, during a fast moving market, that...
Good analysis...does anybody have experience with citi?
  • #10,128
  • Feb 23, 2013 2:15pm Feb 23, 2013 2:15pm
[quote=Crassius;6468757]No.

Oanda as a market maker is taking the other side of every trade you make, so the only thing that needs to happen is for them to receive your message, and send back a confirmation.

After MB receives your message, it has to route the order, then send you a confirmation (fill etc) message. That extra routing step can be very fast, if it matches against another MB customer, or truthfully it can be painfully slow as a match against the lowest price algorithm runs its course.

In the worst of all scenario's, during a fast moving market, that algorithm can have your order bouncing around looking for the lowest price. (market order) This is what leads to slippage.

You'll have to search back through the thread to find Justin's periodic detailed explanation of what the algorithm does exactly to fully understand its ins and outs. In short it has to do what it does in order to ensure that you are getting the best available price in the market. In fast conditions it can lead to slippage as the market moves while your order is still seeking the best available price.

At Oanda what would happen during the same conditions is they would widen the spread.. maybe ten pips... but you would get instant fill... just off the market price by some portion of the width of the artificially widened spread. (kinda like slippage, eh?)

Trade small and get a feel for it in various market conditions.

Both Oanda and MB have their merits as far as trade execution goes and drawbacks in different market environments, and trader requirements. Which one is best depends on the trader and his requirements...

except for the fact that with Oanda, there is always that troubling conflict of interest.

Customer service, ease (and free) ability to move money in and out of MB is far superior to Oanda, IMHO.[/QUOTe

Using paypal my $$ is in Oanda in under 2 hrs average. Out with paypal 2-3 business days average. It doesn't seem then that an ecn can produce the type order confirmations where scalpers are taking small profits from. So far all I've heard from anti Oanda folks is screen freezes, stop hunting, trading against, floating spreads etc. I have no complaints to date about Oanda. I'm looking at ecn's to avoid future problems. So far if MBT has to hold up my orders I can't survive that. Especially trading with a 5 pip stop loss. I need to see evidence Oanda is problem for making profits. I'm a fairly new trader doing well with a very simple system and platform. I use stop limits and are always on the money. Why I'm looking to complicate things I don't know. I guess this is what Forums do if not carefully sifted. They confuse issues because of disgruntled traders. So they both have problems. Which devil to choose??
  • #10,129
  • Feb 23, 2013 3:05pm Feb 23, 2013 3:05pm
Quoting TraderPablo
Good analysis...does anybody have experience with citi?
i use to have account with citi now ive move on to tradestation because i trade gbp/nzd a lot and find the spreads around 10 to 35 pips now im getting spreads around 5 pips for a 5mill order.
  • #10,130
  • Feb 23, 2013 5:50pm Feb 23, 2013 5:50pm
anyone use the sliding order bars on chart to order? Desktop Pro
  • #10,131
  • Feb 24, 2013 3:24pm Feb 24, 2013 3:24pm
Quoting dforant1
anyone use the sliding order bars on chart to order? Desktop Pro
http://www.pic4ever.com/images/electricf.gif
  • #10,132
  • Feb 24, 2013 4:21pm Feb 24, 2013 4:21pm
Quoting Crassius
No.

Oanda as a market maker is taking the other side of every trade you make, so the only thing that needs to happen is for them to receive your message, and send back a confirmation.

After MB receives your message, it has to route the order, then send you a confirmation (fill etc) message. That extra routing step can be very fast, if it matches against another MB customer, or truthfully it can be painfully slow as a match against the lowest price algorithm runs its course.

In the worst of all scenario's, during a fast moving market, that algorithm...
Good
How the things goes with liquidity providers with MBT?
I ask because i heard some thing but not sure about it
Thanks
  • #10,133
  • Feb 24, 2013 6:28pm Feb 24, 2013 6:28pm
i traded with mb it was the best experience i had in trading some times my orders get filled with positive gains as fast as it appear in my desktop so i really recommend them for any one that want a fast trading environment for news and scalping .the one issue that matters me is there liquidity providers did they increase them or they are still 6 as i remember i am not sure i think this is important in many aspects as you need good fills and more liquidity providers make that easy but so far i had the best trading experience with them just want to say my opinion on them
my best wishes
focus while relaxed to see better
  • #10,134
  • Feb 25, 2013 4:57am Feb 25, 2013 4:57am
Quoting orabi
i traded with mb it was the best experience i had in trading some times my orders get filled with positive gains as fast as it appear in my desktop so i really recommend them for any one that want a fast trading environment for news and scalping .the one issue that matters me is there liquidity providers did they increase them or they are still 6 as i remember i am not sure i think this is important in many aspects as you need good fills and more liquidity providers make that easy but so far i had the best trading experience with them just want...
Oanda beats MBT in my estimation. I'm demo trading MBT and it can't match Oanda's speed for order entries especially like stop limit orders to buy or sell short. Until an ECN can deliver that I'm staying with Oanda and the simplicity of trading off it's charts. Haven't seen any of the complaints posters here have concerning Oanda. Money is easy in and out. Placing orders easy. If you have a decent system and good trading character one can make $. All this stuff about frozen screens, geitting locked out, traded against, stop loss hunting are a part of their imagination and need excuses for being a loser. I am keeping an open mind. When a better Broker comes along for my style of trading I'll make a move.
  • #10,135
  • Feb 25, 2013 8:42am Feb 25, 2013 8:42am
Quoting orabi
i traded with mb it was the best experience i had in trading some times my orders get filled with positive gains as fast as it appear in my desktop so i really recommend them for any one that want a fast trading environment for news and scalping .the one issue that matters me is there liquidity providers did they increase them or they are still 6 as i remember i am not sure i think this is important in many aspects as you need good fills and more liquidity providers make that easy but so far i had the best trading experience with them just want...
What does the 6 mean?
  • #10,136
  • Feb 25, 2013 9:38am Feb 25, 2013 9:38am
Hi all-

Effective last Friday, any Free EXN MetaTrader 4 account that is opened can trade using the MT4 Mobile app. You will login to the 216.52.236.97:443 server through the Client and also find the MBT – Pay for Limits server in the Mobile app (even though the account is Free EXN). We are going to be moving all Free EXN accounts to the other server in the coming weeks, and then all accounts will be able to use the MT4 Mobile app (Pay for Limits Live accounts have always had access to the Mobile app). All demo accounts already have access to the MT4 Mobile app.

If there are any questions, please let me know. If you have an existing Free EXN MT4 account, you will be receiving instructions soon on the steps that need to be taken when we move the account to the other server.
  • #10,137
  • Feb 28, 2013 6:09am Feb 28, 2013 6:09am
Anyone else on the Pay For Limits Plan feeling less than enthusiastic about the spreads and commission we are now paying?

2/3rds of your orders have to be limits just to break even with the Free EXN trade costs.... That seems high to me.
Attached Image
  • #10,138
  • Edited 4:33pm Feb 28, 2013 3:50pm | Edited 4:33pm
Quoting Crassius
Anyone else on the Pay For Limits Plan feeling less than enthusiastic about the spreads and commission we are now paying?

2/3rds of your orders have to be limits just to break even with the Free EXN trade costs.... That seems high to me.
Crassius,

It has been a while! I am gearing up to restart trading with MB, but already switched over to Free EXN. The Pay for Limits was great until they adjusted the rates a while back. That was the last draw. I was already peeved they added Free EXN in the first place as I still believe it has to split their customer liquidity. Intu, who was on the boards a while back, also has switched to EXN, I believe. I would much prefer to hit the market when needed rather than save a few pennies.

My humble two cents as always.

Also, anybody know why Desktop Pro is changing my TTO price levels when I submit. I will make a video of it and post a proper question, but it is driving me insane. 50% of the time I hit the submit button to watch both the upper trigger and lower trigger change price. I will also screen-cap my settings.

Dope, I was only changing the 'Stock' Order Entry Preferences. Just update the 'Forex' tab settings, will see if that works. Ah, the details!

Thanks!

Edit--and I forgot to add it peeves me that TTO target levels are market orders, not limit orders as they should be. My guess is their algorithm necessitates market orders on both sides, but it is silly. Just another reason to not bother with Pay-For-Limits.
  • #10,139
  • Feb 28, 2013 7:39pm Feb 28, 2013 7:39pm
Quoting BroncoCap
Crassius,

It has been a while! I am gearing up to restart trading with MB, but already switched over to Free EXN. The Pay for Limits was great until they adjusted the rates a while back. That was the last draw. I was already peeved they added Free EXN in the first place as I still believe it has to split their customer liquidity. Intu, who was on the boards a while back, also has switched to EXN, I believe. I would much prefer to hit the market when needed rather than save a few pennies.

My humble two cents as always.

Also, anybody...
TTO target prices should be accepted as limit orders in pay for limits.......hmmm...i like the pfl idea...but U made a good point.....
  • #10,140
  • Mar 2, 2013 1:56am Mar 2, 2013 1:56am
MBTrading is pretty awesome, rarely had any issues with them.

On a side note, any plans to bring your trading platform to Windows Phone 8?

It shares same kernel as Windows 8 and Windows RT (Surface, etc.) so developing one app would allow you to deploy it everywhere.

WP8 is gaining a massive momentum thanks to a recent update and amazing hardware like Nokia Lumia 920, especially in Europe.

Market Share

UK - 6% (up from 2% last year)
Italy - 14%
Finland - 20%
Russia - 6%
Poland: 16.3%
"Everyone gets what they want out of the market." -- Ed Seykota
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