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hawaiiantrader
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Hi to all

Postby hawaiiantrader » Mon Jun 11, 2007 2:17 pm

Hi all,
I am returning to the board after about 5 months absence.
I have a new handle - hawaiiantrader - that is easier to type than my former handle - makaha_waverider.
I just jumped in before, without introducing myself, so will be more proactive and sociable this time. Thanks, by the way, to eudomania (ed), and Michael for past replies.

I have made the leap, and have purchased NeoTicker permanent license, and have spent the weekend glued to screen trying to learn.
I have made my way about halfway thru the tutorial - up to the pattern scanner. It's really no good unless you have a data feed. I just ordered IQFeed, have my login info - but have not yet booted up. My brokerage will be MBTrading - I finally kicked TadeStation - and that was a great move. So far NeoTicker is impressing by comparison - obviously my feedback is of limited (no) quality at this time.

I hope I can contribute to the forum as time goes on.

Happy Trading :) ,

Makaha

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Postby TheRumpledOne » Mon Jun 11, 2007 10:03 pm

Welcome back aboard the pirate ship!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby hawaiiantrader » Tue Jun 12, 2007 7:42 pm

Thanks TRO,
I've got a question for you - or others - My application is pending with MBTrading - but I'm thinking the InteractiveBrokers Universal account may be better - I also am thinking I should concentrate on Forex, and developing a consistent system, rather than be distracted by all the myriad possibilities in the stock market.
What does the board think of this? Also, it seems from my MBT demo, that you can't hedge positions (buy and sell at same time); can that be done with IB account? Do people just open 2 accounts and do it that way?
Thanks in advance.

oh - one last question: Neoticker doesn't seem to accept the MBTrading demo data feed. And it's also not accepting my IQFeed (trial), even though the account rep said he set it up for Forex. Is there a special way i'm supposed to enter the forex symbol pair - eg gbp/usd ?

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michal.kreslik
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Postby michal.kreslik » Tue Jun 12, 2007 8:13 pm

hawaiiantrader wrote:Thanks TRO,
I've got a question for you - or others - My application is pending with MBTrading - but I'm thinking the InteractiveBrokers Universal account may be better - I also am thinking I should concentrate on Forex, and developing a consistent system, rather than be distracted by all the myriad possibilities in the stock market.
What does the board think of this? Also, it seems from my MBT demo, that you can't hedge positions (buy and sell at same time); can that be done with IB account? Do people just open 2 accounts and do it that way?
Thanks in advance.

oh - one last question: Neoticker doesn't seem to accept the MBTrading demo data feed. And it's also not accepting my IQFeed (trial), even though the account rep said he set it up for Forex. Is there a special way i'm supposed to enter the forex symbol pair - eg gbp/usd ?


IB offers lower commissions than EFX.

You have to use the GBP/USD notation for entering the forex symbol with EFX/MBT in NeoTicker (the same goes for entering the symbol within EFX/MBT Navigator itself).

Michal

hawaiiantrader
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Postby hawaiiantrader » Tue Jun 12, 2007 10:40 pm

Thanks Michal for the notation information - my problem is that the demo feed from MBT doesn't connect at all - i have to wait for the live account.
I haven't been able to resolve the lack of data issue with IQFeed; I fear it is just a lousy feed.

Regarding commissions:
It looks like MBT has a pretty low rate 5$ per 100,000 currency, which i think translates roughly to 1/2 pip. It is confusing to me, even though I can do the math, because they are calling a lot 10,000 currency when the metatrader platforms, and I think the Forex community at large, has 1 lot = 100,000 currency.

It's hard to understand IB's fee schedule - it looks like it is cheaper, for bigger tickets: 1,000,000 currency is $20.00, compared to MBT which would be $50.00. But IB has a minimum Ticket order of $2.50. So if you are trading only 1 "lot" of 10,000 currency (a minilot I supppose for the general community), which moves at a rate of 1$ per pip, for IB you have to pay $2.50 commission, plus the spread, but with MBT it's only $.50.

In general I was drawn to IB by all that they offer - but all their lists of fees, and minimums, and contingencies is hard to follow - MBT seems much more user friendly to me, at this time.

Do I have that correct? So unless I'm ready to be placing 100 minilot trades at a time, I should stay with MB Trading (or EFX - i think their rate is the same).

Makaha

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Postby michal.kreslik » Wed Jun 13, 2007 8:43 am

hawaiiantrader wrote:Thanks Michal for the notation information - my problem is that the demo feed from MBT doesn't connect at all - i have to wait for the live account.
I haven't been able to resolve the lack of data issue with IQFeed; I fear it is just a lousy feed.

Regarding commissions:
It looks like MBT has a pretty low rate 5$ per 100,000 currency, which i think translates roughly to 1/2 pip. It is confusing to me, even though I can do the math, because they are calling a lot 10,000 currency when the metatrader platforms, and I think the Forex community at large, has 1 lot = 100,000 currency.

It's hard to understand IB's fee schedule - it looks like it is cheaper, for bigger tickets: 1,000,000 currency is $20.00, compared to MBT which would be $50.00. But IB has a minimum Ticket order of $2.50. So if you are trading only 1 "lot" of 10,000 currency (a minilot I supppose for the general community), which moves at a rate of 1$ per pip, for IB you have to pay $2.50 commission, plus the spread, but with MBT it's only $.50.

In general I was drawn to IB by all that they offer - but all their lists of fees, and minimums, and contingencies is hard to follow - MBT seems much more user friendly to me, at this time.

Do I have that correct? So unless I'm ready to be placing 100 minilot trades at a time, I should stay with MB Trading (or EFX - i think their rate is the same).

Makaha


Makaha,

yes, you're right, Interactive Brokers pays off only if you're trading bigger positions. But then it pays off big time.

But then, I'm almost sure EFX would agree to charge lower commissions, too, if one would trade bigger positions consistently and make a deal with them.

EFX demo feed works fine with my NeoTicker. You should check your settings.

By the way, as you're from Hawaii - one of my friends whom I met in Miami is living in Hawaii and running a forex training business. Have you heard about him by any chance? His name is Derek Ching.

Michal

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