Block trading. This is good. We need to get MB trading here as a sponsor. General Correspondence and Tech Support: support@elitetrader.com Advertising Information and Business Development: Baron Robertson baron@elitetrader.com (407) 230-9956
Trading multiple accounts is a manual thing, even with a LPOA. One click block trading and the interest earning capability with MB is a plus. I use a complicated scaling approach with multiple entries and use a compounded/hedged approach to "corner" the trade. (they cannot beat me, sorry for the bragging, just had to get that dig in) My style of trading requires larger balances to use Currenex and MB, but surely in the future I would consider either of them. My current purposes is to establish a back up dealer. Here is the progression as I see it. Open up an account for under 1k at Oanda. Trade...lose...put more money in...repeat this until you get it, this can take several years. Build your balance in Oanda to 50K or 100K Open up a secondary dealer (this very well could be MB) when you get over 50K or 100K in Oanda, its according to you. And maintain these two accounts simultaneously. Trade in Oanda because of the one unit trade increments and that tremendous convenience for scaling and hedging on the fly. No need to use 10K or 100k unit rounding in the spreadsheet. When you get 2.4 million switch to Currenex with Mann. I do not know why yet, until I further understand what is wrong with MB. (I am having trouble finding anything wrong with MB, now if they had one unit trade increments this would be very challenging indeed) Why would I change from Oanda? I do not need more leverage. I do not trade OPM...I just need a back up dealer. Also... Folks our sponsor, Interactive Brokers, has a true Universal account and if you trade Equities, Options, Futures or Spot Forex, IB may be the most convenient with a good price that pulls it all together. If you specialize in one product, well of course you can always search out a better deal...there is never, THE BEST.
O my god ... I thought when I just looked at the post count of ES Please do not tell us you actually trade... Are you planning a special curtain raiser event for your 10000 post ????
ES - I thought you were leaving? I guess you are not a man of your word. Too bad for us. http://www.elitetrader.com/vb/showthread.php?s=&threadid=73299&perpage=6&pagenumber=4
Couple thoughts here; First, the two web sites look almost exactly the same. The layout, similar drop downs and even the software looks the same. Who's the middle man? Something's fishy... Next, I doubt they are ECN's. ECN-Like maybe (they receive streaming quotes from banks), but these banks prob do not have to honor those quotes all the time. At best, this is probably liken to IB's IdealPro.. (not a bad system) at worst some white label ad-hoc system.
mbt and efx are owned by the same person, they are not an ecn if they were they wouldn't be able to do minis.
Sem: Yes, i wondered the same, about the minis. Then again, you can trade at 25k increments at IB if i am not mistaken? BTW, whats the difference between a real ECN and something like IB offers? Regards, pippi
If it was a "real" ECN then you'd have a large number of diverse market participants competing for orders. If they put a limit order up and you hit it then you get it if you were first. In the IB case you have a large number of retail traders and a small number of backend organisation that seem to be banks. It seems that the banks are not always held in their behavior with the limits they leave at bid or ask given the occasional complaints.