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anyone trade Forex with MB Trading ?
- Thread starter bltoby
- Start date
Quote from bigmrfrank:
OK, I've got a few more comments. Yesterday, during the Bernacke (sp) breakout (60+ pips in about 90 seconds) I entered 2 quite substantial positions in both the euro and the cable. I bought the bottom at 0 pips on the euro and +4 pips already in my favor on the cable. Fills were instant. I exited both positions in full at the peak. Again the fills were instant and at 1 pip each respectively. No server outages, no platform freezes, no wide pip spreads like I saw someone mention in another thread and no BS.
Shill
MB sux, period.
Quote from bigmrfrank:
OK, I've got a few more comments. Yesterday, during the Bernacke (sp) breakout (60+ pips in about 90 seconds) I entered 2 quite substantial positions in both the euro and the cable. I bought the bottom at 0 pips on the euro and +4 pips already in my favor on the cable. Fills were instant. I exited both positions in full at the peak. Again the fills were instant and at 1 pip each respectively. No server outages, no platform freezes, no wide pip spreads like I saw someone mention in another thread and no BS. BTW, concerning the extra wide spread during big breakouts ... what bullsh!t that is. Isn't that just another form of price shading?! If the spread gets manipulated then it can be manipulated at will. I'd be spooked by that. If anything the Bid/Ask should *invert* during fast markets not widen. Widening the spread screws you out of YOUR money. So? Did I make what ... 5 pips, 7 pips, 10 pips more per lot than you?
Another thing ... concerning the "commish". To those who can't wrap their heads around the concept ... here ya go ... lets take USD/JPY. The spread at MB is 1 pip (sometimes 2 during low volume). So that's either $1 on a mini or $10 on a standard lot. The vig is .50 per side on a mini and $5 per side on a standard lot. Let's do the math ... Hmmmmmm ... comes out to 2 pips. That's the same if not cheaper than the bucket shops. So the buckets build the vig into the spread, trade against you, shade the feed and basically bend you over and that sits well with some of you folks? Personally, even if it came out more I'd still gladly pay for the piece of mind know I'm not getting screwed over.
To the dense folks who keep talking about how cheap such and such is on equity trades ... consider your BIG savings compensation for all the time you have to spend messing with buggy software, front ends, log in problems and various other crap. I don't know about you but my time is money. I also must have confidence in my platform, my feed from MB (WHICH IS FREE for FX, CBOT and CME) and my broker. To date I have confidence in all three.
Also, I have absolutely no interest or association with MB other than being one of their many happy customers. That said, if they ever IPO I'd definitely want a taste because that dog will hunt once everyone else figures out what I already know. If you're happy with your broker and have no problems that is a good thing but if you're not happy there are alternatives to pissing and moaning. As always YMMV (Your mileage My Vary)
Interesting... I have heard from chart vendors such as Tickquest/Neoticker that MB has an excellent data feed. This is something I am interested in. Using eSignal just for its data feed is expensive. I am a happy IB user and will be testing their data feed but I am seeking another option if the IB feed is unacceptable.
Reviewing the web site it seems that separate accounts are required to trade the stock index e-minis and forex. That is a hassle if you trade both the eminis and forex. bigmrfrank....is that true?
Quote from bigmrfrank:
OK, I've got a few more comments. Yesterday, during the Bernacke (sp) breakout (60+ pips in about 90 seconds) I entered 2 quite substantial positions in both the euro and the cable. I bought the bottom at 0 pips on the euro and +4 pips already in my favor on the cable. Fills were instant. I exited both positions in full at the peak. Again the fills were instant and at 1 pip each respectively. No server outages, no platform freezes, no wide pip spreads like I saw someone mention in another thread and no BS. BTW, concerning the extra wide spread during big breakouts ... what bullsh!t that is. Isn't that just another form of price shading?! If the spread gets manipulated then it can be manipulated at will. I'd be spooked by that. If anything the Bid/Ask should *invert* during fast markets not widen. Widening the spread screws you out of YOUR money. So? Did I make what ... 5 pips, 7 pips, 10 pips more per lot than you?
Ok, on the next news release @ 8:30:00 - 8:30:05 EST post the time & sales or EUR/USD with bid/ask. First chance will be this coming Thursday, 7/27. I have a hard time believing the bid/ask spread doesn't widen on MB trading considering that even on the best platforms it does during these times. Even FX futures do.
But if it is as you say then MB truly has something special and would definitely be worth considering. Not that they aren't worth considering now.
Starting from 11++ pm EDT, I am not able to connect MB trading Order Server. The Quote is fine but cannot trade for at least 20 mins!. Its daily rollover interest is ridiculously high on USD/JPY short trade -8.66%. And shorting GBP/USD need to pay interest 1.50% everyday??? Other brokers can receive interest instead. Everyone know that USD interest rate is higher than GBP. What a joke.
Quote from ddunbar:
Ok, on the next news release @ 8:30:00 - 8:30:05 EST post the time & sales or EUR/USD with bid/ask. First chance will be this coming Thursday, 7/27. I have a hard time believing the bid/ask spread doesn't widen on MB trading considering that even on the best platforms it does during these times. Even FX futures do.
But if it is as you say then MB truly has something special and would definitely be worth considering. Not that they aren't worth considering now.
I captured this at 8:30.
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Quote from sunvalley:
Interesting... I have heard from chart vendors such as Tickquest/Neoticker that MB has an excellent data feed. This is something I am interested in. Using eSignal just for its data feed is expensive. I am a happy IB user and will be testing their data feed but I am seeking another option if the IB feed is unacceptable.
Reviewing the web site it seems that separate accounts are required to trade the stock index e-minis and forex. That is a hassle if you trade both the eminis and forex. bigmrfrank....is that true?
I use the MB/ Neoticker combo. Works perfectly with MBs free data feed. True, at the moment you can not trade the minis and FX from the same account and Navigator screen because you'll have 2 different log ins and passwords. It's not really a hassle for me. I also have 6 LCDs. I just have 2 Nav screens up and running ... one for FX and one for YM & equitys ... both on 1 screen. I like it that way personally because I use to different layout for each ... 1 FX layout and 1 YM. If you use Neoticker it comes with Nav (free) built in so you can use NT as your front end and trade right off the charts. At first I was leary but I'm using it more and more. Works very well and you can basically code your own order types. I'm just about done with a complex OCO ordering scheme based on Fibs. At this point I can easily just use the NT front end and eliminate the Navs all together.
Quote from bigmrfrank:
I captured this at 8:30.
Awesome as far as the 1 pip spread.
But... (Yep, you guessed it. It's stickler time!)...
Market didn't trade at that level until approx. 08:36:00 EST. Take a peak at any 1 min EUR/USD chart. Even the CME Futures were back to 1 pip spread by that time. IB's spread was 1 to 2 pips at that time.
So I'm not knocking it. Just like to see time & sales from 08:30:00 - 08:30:05. If it went 3 pips wide that's still better than most outlets even Oanda.
I don't know if MB publishes T&S, so I might be asking for something that you don't have access to. Thanks for following up though. Kudos for that.
Quote from bigmrfrank:
I use the MB/ Neoticker combo. Works perfectly with MBs free data feed. True, at the moment you can not trade the minis and FX from the same account and Navigator screen because you'll have 2 different log ins and passwords. It's not really a hassle for me. I also have 6 LCDs. I just have 2 Nav screens up and running ... one for FX and one for YM & equitys ... both on 1 screen. I like it that way personally because I use to different layout for each ... 1 FX layout and 1 YM. If you use Neoticker it comes with Nav (free) built in so you can use NT as your front end and trade right off the charts. At first I was leary but I'm using it more and more. Works very well and you can basically code your own order types. I'm just about done with a complex OCO ordering scheme based on Fibs. At this point I can easily just use the NT front end and eliminate the Navs all together.
I use Neoticker/eSignal and I'm looking an alternate data feed for a 2nd Neoticker license. I may end up replacing the eSignal data feed if this alternative proves itself.
I don't mind separate accounts for trading purposes. My question is how do you get a single stream of data for the eminis and forex if the trading accounts are separate? Will one trading account supply all of the data to one Neoticker instance/license? In other words, I want one data feed/Neoticker instance for all of my charts.
BTW, I also rely on Fibs for my work and was the one who requested all of the Fib tool enhancements to Tickquest. I had to use Qcharts until development was done. Tickquest has one of the best charting platforms in the business!
Thanks