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How to: Connect MCDT to MB Trading
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Created: by Jura Attachments:6

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How to: Connect MCDT to MB Trading

  #1 (permalink)
 Vendor: tradingcode.net 
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How to: Connect MCDT to MB Trading

Yesterday I’ve had quite some trouble trying to connect MCDT to MB Trading, yet today I’ve succeeded in establishing a connection. So I thought I should share this with you guys, and perhaps it will save someone else some headaches.

1. Create a new ‘Broker Profile’ in MCDT for MB Trading (File -> Broker Profiles -> Manager Broker Profiles -> New -> MB Trading).
[See screenshot 1]

2. Connect to MB Trading without having an MB Trading application (such as MB Desktop, MB Desktop Pro, or MB Navigator) active. If you have such an application running in the background, the connection “signal” for the MB Trading connection will remain yellow.

3. Manually add the forex symbols. MCDT doesn’t support (with the Version 7.0 Beta 3 (Build 46) version) automatically adding these symbols, so you have to do this for yourself. Go to the Quote Manager (File -> New -> Quote Manager), choose in the Quote Manager for Instrument -> Add Symbol -> Manually. Here type in the currency pair you’d like to add (for example EUR/USD).
[See screenshot 2]

In the ‘Edit Symbol’ screen [see screenshot 3], you can give an description to the symbol. The other options, can be left untouched.

4. Open a new chart (File -> New -> Chart Window) and choose a forex pair symbol you’ve added. When opening for the first time a chart from MB Trading, MCDT asked again for my login credentials, but after supplying these the chart will begin to load.

At that point, it should work like a charm.

Regards,

Attached Thumbnails
How to: Connect MCDT to MB Trading-brokerprofile.png   How to: Connect MCDT to MB Trading-addsymbol.png   How to: Connect MCDT to MB Trading-editsymbol.png   How to: Connect MCDT to MB Trading-done.png  

Last edited by Jura; May 11th, 2011 at 04:08 AM. Reason: typo's
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  #2 (permalink)
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Forex symbol setup

In the quote manager edit symbol screen, does the "use exchange / ECN settings" option work correctly? I setup a few Forex instruments but noticed MC is reporting the P&L wrong (showing like stock was traded). It is also sending the orders with incorrect lot size in my demo account. A sale of 1 lot is 1 unit and not 10K units for Forex trades.

Using the latest beta of MC DT.

Just wondering if i did something wrong...

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  #3 (permalink)
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Hi Mediaboy,

mediaboy View Post
In the quote manager edit symbol screen, does the "use exchange / ECN settings" option work correctly? I setup a few Forex instruments but noticed MC is reporting the P&L wrong (showing like stock was traded).

As far as I can tell, this is a know issue with MB Trading: MultiCharts Project Management - Issue MC-318 - Wrong P&L amount indicated for the trade


mediaboy View Post
It is also sending the orders with incorrect lot size in my demo account. A sale of 1 lot is 1 unit and not 10K units for Forex trades.

The default lot size with MB Trading is 10.000 units, while the default order size is 0.1 lot (so, 1000 units). Perhaps changing this in the Edit Symbol section could solve your incorrect lot size problem.

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  #4 (permalink)
Trading Apprentice
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Thanks for the info. Still works for MC 7 beta.

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  #5 (permalink)
Trading for Fun
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I cloned the Forex Exchange/ECN settings and created a new one which I called MBTFX.

I then changed the price scale to 1/100000 because MB trading uses fractional pips.

I haven't worked out how to set the unit sizes though.

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  #6 (permalink)
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kamicrazy View Post
I haven't worked out how to set the unit sizes though.

Buying 1000 units in MCDT equals a 0.1 lot and entering a order in MCDT for 10.000 units equals 1 MB Trading lot. The minimum order in MCDT for trading with MB Trading is thus not 1, but 1000 since 1000 units equals one MB Trading mini-lot.

Or do you mean something else with units sizes?

Regards,

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  #7 (permalink)
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Jura View Post
Buying 1000 units in MCDT equals a 0.1 lot and entering a order in MCDT for 10.000 units equals 1 MB Trading lot. The minimum order in MCDT for trading with MB Trading is thus not 1, but 1000 since 1000 units equals one MB Trading mini-lot.

Or do you mean something else with units sizes?

Regards,

So how do you fix this in MCDT if you trade the standard 10,000

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  #8 (permalink)
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torroray View Post
So how do you fix this in MCDT if you trade the standard 10,000

As far as I know - that can't be done. You can make a feature request for it here (http://www.multicharts.com/pm/), because with the current settings the "+1" buttons behind the calculator-thing in the DOM don't work since these add 1 and not the minimum 1K.

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  #9 (permalink)
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Jura View Post
As far as I know - that can't be done. You can make a feature request for it here (MultiCharts Project Management), because with the current settings the "+1" buttons behind the calculator-thing in the DOM don't work since these add 1 and not the minimum 1K.

You have to manually key in 10,000 every time.

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  #10 (permalink)
Trading for Fun
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Jura View Post
Buying 1000 units in MCDT equals a 0.1 lot and entering a order in MCDT for 10.000 units equals 1 MB Trading lot. The minimum order in MCDT for trading with MB Trading is thus not 1, but 1000 since 1000 units equals one MB Trading mini-lot.

Or do you mean something else with units sizes?

Regards,

i worked out through getting rejected order messages that the minimum number to enter is 1000 which is equal to 1 micro-lot.

what i would like is a setting definable in the ECN settings to so that typing 1 = 1000 or 10000 or 100000 units depending on trader preferences.

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