Kreslik.com - traders community since 2006

Hi,

I understand MB is popular with Tro and others here and wondered if someone can assist with what i am trying to do.

I want to set up a 5 pip stop loss, and a take profit of 5 pips. But also have a trailing stop loss in place to catch big movements.

Is this possible on MB navigator and how do i set it up?

Would anyone have any recommendations with using trailing stop losses? I was also thinking of using a 5 pip trailing stop but may move this to 10.

Thanks in advance,
Sidney

Sidney,

You can use the TTO order and preset it for a stop loss and a take profit. You could also set the default order type to e.g. market + TTO or another combination order (limit + TTO, etc.). I don't know if you can do what you want havig a trailing stop loss and a trailing stop loss. You can have market + trail (or limit + trail, stop limit + trail though. In other words: it is either to be a TTO or a trailing stop.

Go to navigate - preferences - order entry. You can (pre)set the order type the way you want it.

Note that there is a thread on ForexFactory re. MB Trading where Justin LeBlan answers a lot of questions. You may be able to get more info there.

Hope this helps. Good luck with the snow )

Hi PTG,

Thanks for your comments, can i ask about the trailing? Say it was just set at 5 pips on a buy trade, the market moved up, it would have to move at least 10 pips for the trailing stop to move up?

Then it came crashing down and took out the stop loss, i would come out with zero? Do you know what kind of movement is needed for trailing stops to work?

does this make sense? lol

snow isnt too bad

Ah, good. Snow sucks

I don't use trailing stops so I'm afraid I can't be of help. You may be correct in your assumption. Just try it on demo and you will know.

Also, have a look here, this may be of use:

http://www.mbtrading.com/vote/story.php ... activation

That is under development.

And there's more:

http://www.mbtrading.com/vote/index.php ... evelopment

thanks for your help

i've had a little play around on demo but need to wait again until monday, so thought i'd ask around on here.

hope your trading is going well

One cannot do the suggested thing under MBT Nav
(or at least I don't know, how to do this).

The best way to do - is ask MBTrading directly.

And also submit a suggestion for future MBT Nav
development here
http://www.mbtrading.com/vote/

They have a long way to go in their development,
untill they will match at least 30% of functionality
of NinjaTrader SuperDOM or Tradestation Matrix.

Once MBT Nav would have a proper DOM
(graphical interface for order entry and management
with mouse clicks only, when no keyboard keys
are required), they could deserve the glory of best
trading platform.

I always wonder, why people are creating everuthing
from scratch without looking at first step, what
competitors have done.

Have you already tried Nav Pro ?

Charting/order entry packages and broker characteristics are not as obvious as it seems. It depends on individual preferences (like instruments traded, if you're a scalper or not).

For me, the most important issue is to have a reliable broker with good customer service. So far, MB Trading works fine for me. You can use NinjaTrader with them. I also like the fact that they do futures.

Not easy all this. Takes time to find out what works and what doesn't.

I agree - I know a lot of people here use MB Trading, but their platform is years behind others - no DOM - no bracket trading - and those items are nowhere in site (I know - I've asked). Also, their hotkey functionality is unstable.

noone22 wrote:One cannot do the suggested thing under MBT Nav
(or at least I don't know, how to do this).

The best way to do - is ask MBTrading directly.

And also submit a suggestion for future MBT Nav
development here
http://www.mbtrading.com/vote/

They have a long way to go in their development,
untill they will match at least 30% of functionality
of NinjaTrader SuperDOM or Tradestation Matrix.

Once MBT Nav would have a proper DOM
(graphical interface for order entry and management
with mouse clicks only, when no keyboard keys
are required), they could deserve the glory of best
trading platform.

I always wonder, why people are creating everuthing
from scratch without looking at first step, what
competitors have done.

On the other hand, they support quite a few 3rd party software packages, like NinjaTrader, or IntelliChart at 50% discount (http://mbt.tradesecuring.com/Misc/MBT.asp)

And MT4 (ECN).

As for their Navigator platform, you can use TTO as a one-bracket order, if you need more, there are several ways of solving it, like multiple TTO's. Heck, you could even have more brackets than TradeStation has !

Interesting also to see how many complaints have been filed against brokers with the regulatory body. See how they compare against others.

I suppose it's always the same, the glass is either half full or half empty. In order to make a balanced judgement you would have to define your requirements and check them against what is available in the market.

Reminds me of most electronic gadgets, one having even more than the other. Do you use all of their features ? I never do.. but it sure is a nice subject to chat about.

You can do all this and a lot more with NinjaTrader. It works v well with MBT.

Metatrader, as we all know (or bloody well should know by now), is a scam, so I'd keep well clear of it....