Never Lose Again

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dragon33
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Postby dragon33 » Wed Nov 19, 2008 12:36 pm

BlowFish wrote:You can trade less than 10,000 (a lot) units of a currency with MBT? I wonder how that works I thought the banks that are counter party to your trade have minimum size requirements?

They make no mention of mini's here http://www.mbtrading.com/fx/commissions.asp


How they do it i don't know!
But i know it can. With MB 1 lot is 10,000 units. If you want to play with 100,000 u have to take 10 lots. It's different compared with other brokers.
MB uses 10,000 as standard unitsize.
min margin is $100 and you can start trading with a deposit of $400
http://www.mbtrading.com/fx/margin.asp

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BlowFish
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Postby BlowFish » Wed Nov 19, 2008 1:49 pm

Well I searched the site (I can be a bit short sighted sometimes) and can find no mention of mini lots. All I can see is the 5$ price on full lots. They would have to be the counter party to offer smaller size than is available on the interbank.

BlowFish
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Postby BlowFish » Wed Nov 19, 2008 2:03 pm

Ok found out how it works....there needs to be another MBT customer willing to take the other side of your trade or enough same side traders to make up a full order that can be transmitted to the inter bank network.

Long story short be aware minis are handled differently :)

xmess7
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Postby xmess7 » Wed Nov 19, 2008 3:23 pm

dragon33 wrote:
BlowFish wrote:You can trade less than 10,000 (a lot) units of a currency with MBT? I wonder how that works I thought the banks that are counter party to your trade have minimum size requirements?

They make no mention of mini's here http://www.mbtrading.com/fx/commissions.asp


How they do it i don't know!
But i know it can. With MB 1 lot is 10,000 units. If you want to play with 100,000 u have to take 10 lots. It's different compared with other brokers.
MB uses 10,000 as standard unitsize.
min margin is $100 and you can start trading with a deposit of $400
http://www.mbtrading.com/fx/margin.asp


Dragon:
IS your setup for long and short limit entries similar to the image below?
And yes you can change the lot size down to 1K. I'm on Linux right now and I have not gotten MBT to work yet. When I get over to WindBloze I will take a snapshot to show you were in the configuration you can do that..

Image

xmess7
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Postby xmess7 » Wed Nov 19, 2008 3:26 pm

TRO,
Not only is NEVER LOSE AGAIN still active but there are threads about your return on babypips :). In one thread the admin got fed up and closed it LOL.


Ok here's some horizontal line trading.
Today's total 79pips, Done for the day :)
Image

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dragon33
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Postby dragon33 » Wed Nov 19, 2008 4:28 pm

xmess7 wrote:
dragon33 wrote:
BlowFish wrote:You can trade less than 10,000 (a lot) units of a currency with MBT? I wonder how that works I thought the banks that are counter party to your trade have minimum size requirements?

They make no mention of mini's here http://www.mbtrading.com/fx/commissions.asp


How they do it i don't know!
But i know it can. With MB 1 lot is 10,000 units. If you want to play with 100,000 u have to take 10 lots. It's different compared with other brokers.
MB uses 10,000 as standard unitsize.
min margin is $100 and you can start trading with a deposit of $400
http://www.mbtrading.com/fx/margin.asp


Dragon:
IS your setup for long and short limit entries similar to the image below?
And yes you can change the lot size down to 1K. I'm on Linux right now and I have not gotten MBT to work yet. When I get over to WindBloze I will take a snapshot to show you were in the configuration you can do that..

Image


I don't change it when i'm trading MB. The image you show is same as mine and i do shorts and longs with that.

xmess7
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Postby xmess7 » Wed Nov 19, 2008 7:40 pm

dragon33 wrote:
I don't change it when i'm trading MB. The image you show is same as mine and i do shorts and longs with that.


Ok, so for example you do not make any changes on the entry preferences before entering a limit trade?

This is what I learned:
To place a limit SELL entry I click on "First touch" before I make the trade
To place a limit BUY entry I click on "Trade through" before I make the trade.

Plus, I keep the "MBT Price vs Speed" lever all the way over to the left. Supposedly this makes an order to be filled at best possible price.

Thnx
Jess
Image

xmess7
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Postby xmess7 » Wed Nov 19, 2008 7:57 pm

xmess7 wrote:TRO,
Not only is NEVER LOSE AGAIN still active but there are threads about your return on babypips :). In one thread the admin got fed up and closed it LOL.


Ok here's some horizontal line trading.
Today's total 79pips, Done for the day :)
Image


Guys:
I wanted to point out something. This concerns the idea that TRO has been trying to teach us of FIX SPREAD BANDIT vs true ECN.

In the trade that I displayed earlier I was using FXCM. The spread at that time was 4pips for the GBPJPY. Not bad right?

Check out these numbers:
For each trade I paid the Broker roughly
4pips(spread) x $5(value per pip) = $20
I made 3 successful trades. Total that was paid on commission= 3 x $20 = $60.

Now if I had used MBT this is what would of happened:
Commission for each trade(enter and closing)
$.5 (I am using .1lots) * 4 lots = $2.00
So using my above trade I would have paid 3 x $2.00 = $6.00

WOW... I just gave away ($60 -$6) $54.00
This is not good... it will get worse when I am dealing with larger amounts.

Just something to ponder. MBT HERE I COME LOL.
:)

pierre23
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Postby pierre23 » Thu Nov 20, 2008 4:35 am

They don't actually "take" the $60 from your account though? If you have made $500 with those 3 trades, when you go into your account you'll be able to withdraw $500, not $440 correct??

I'm afraid I don't completely understand.. I thought FXCM was an ECN broker? Although from what I understand true ECN are brokers who charge commission and not earn money from the spread? But the spreads with FXCM are low.. I've seen some pairs go from 0 to even minus numbers in spread, so how does that work in regard to them not being true ECN as we're not paying any commission?

Unless they offer true spreads, and earn money from the shear size of their clientele?

BlowFish
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Postby BlowFish » Thu Nov 20, 2008 9:46 am

Xmess be aware that just because there is no fixed spread on MBT does not mean that there is not a spread to pay. Of course you can enter limits but then you risk not getting filled at all :). You need to try it for a while to get a feel, it's a different animal if you are not used to DMA (direct market access). You do get spreads when the market is particularly quiet or volatile. Price still needs to trade through that spread for you to make pips.

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