IMO a simple trailing stop of the type available on most SB platforms is often of limited use. As Simon says, the usual result is lots of small losses and no big wins. At best, it will only really slow down the rate of loss for a trader who is going to lose, anyway.
Best Thread Capital Spreads
Well Ross, you could be right, but if you're speaking of opinion only, a) I currently don't have one as I've never been in a position to try them out and b) you could be wrong. Either way, as CS have been so helpful as to put the feature up I'm happy to try it and learn from the experience. Of course, it's the exits which are always the more difficult and interesting problem in trading - a log here would possibly bring in help and feedback on how they could be refined.
Ha ha, yes Simon will have a real challenge to get it to work properly without any funny games going on.Just wait until they introduce a 1pt Dow!
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capitalspreads
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tomorton is quite right on one important point. It is the exits from losing positions that cost clients the most money (or more truthfully, the inability to exit from a losing position!).
It is the one really important item that seminars etc try to drill into clients trading strategy but... seldom succeeds in imprinting on the brain.
We have had so many clients build up impressive winning accounts and then they start to believe that they are right rather than the market! They then.... trade in too large size/fall in love with a position/continually move stops further away/all of the above... and blow the lot on one deal.
Trailing stops (religiously applied) should at least avoid this
Simon
It is the one really important item that seminars etc try to drill into clients trading strategy but... seldom succeeds in imprinting on the brain.
We have had so many clients build up impressive winning accounts and then they start to believe that they are right rather than the market! They then.... trade in too large size/fall in love with a position/continually move stops further away/all of the above... and blow the lot on one deal.
Trailing stops (religiously applied) should at least avoid this
Simon
I was just about to update on my Capital Spreads ongoing experiences following the issues I had and reported a few Months back.
But to save going into an essay, your quote pretty much matches my ultimate conclusion.
Once thing I will still say, I still don't like the charts, find it difficult to get a clear picture from them, and in these modern times where some impressive charting technology is being offered elsewhere, I think if Caps really worked on getting their charts top notch, they would reap reward from it because this is one area where IG have gone down hill with their recent new basic package, but IG do still offer free Advanced Charts (2 trades per Month to qualify) whereas Capital Spreads don't.
IG is one of the companies I haven't traded with so far. Capitalspreads is to be frank no. 1 for me right now. It seems I have got less problem with them compared to others I am and have been trading with. The charts is not the most important feature for me, execution is, and in this area they are among the best. I am looking forward to when they introduce 1 point spread on the Dow, I hope the waiting will not drag on too long. A not so good thing however, is the distance for the stop loss on the Dow, 12 points, is too much for my liking.
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Is it really 12pt? That counts me out, even if they do introduce 1pt spread. If City can offer a 1pt spread Dow and have no minimum stop distance, then why not CS?
This is the thing, traders in general do not complain about CS. Nothing really negatively for a long time on this thread except for some problems with the demo platform. I have myself given them positive reviews over the years, some think little bit too much. I do not trade the Dow with CS at the moment, but the point mentioned in my post, is an area where they need to improve. I find it OK to bring this to Simon's attention, just like I have done with other CS platform issues over the years.
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I could settle for 6 points.
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fxwinner22
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wait till you start winning with them. then they'll slip you.
i took 50k from cap spreads a few years ago over about three months and they then started slipping me daily - spoke to them and they more or less said take your business elsewhere. i did.
i took 50k from cap spreads a few years ago over about three months and they then started slipping me daily - spoke to them and they more or less said take your business elsewhere. i did.
Yes it could very well be the case if you make a lot of money short term trading. But there hasn't been any reports the last year about slippage problems or referral to a dealer for that matter. You say a few years ago, that is quite a long time ago, taking in account the progress of the industry in this past years.
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Was this from trading short-term indices and FX?
capitalspreads
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slight slip of truth here.
we do not 'slip trades' we sometimes slip orders but usually only over data releases. If someone is over trading they may be put to dealer acceptance. But they are never slipped on a trade.
They either get the trade or not.
It also depends how somebody makes money. If they made a large sum trading 200 times a day taking pips off price latency then I am really sorry but i do not see the problem of CS putting them to dealer acceptance. Why is the SB company considered to be the evil man in these instances when it is (in fact) the client who is trading dubiously?
If CS only ever accepted trades that immediately went against clients but rejected all those that went for them we would be slaughtered by both the threads and the regulators. But a client who does exactly that seems to be treated as some kind of hero.
This is exactly the kind of thinking that got Europe into the problems they currently have. I remember Greece electing a member of parliament whose main claim seemed to be that he had defrauded the EU out of a million Euros or so. The Greeks presumably thought 'Wow well done him, just the kind of Robin Hood guy that we want in parliament' In fact that kind of thinking has ended them up where they are now.
Scalpers are not "the traders friends" because they divert providers energy and resource from providing a service to trying to prevent a tiny proportion of clients from ripping us off. I do like it when we offer these traders access to our Currenex 'professional' FX platform. Huge liquidity from 16 quoting FX providers, variable spreads (down to zero on occassion) blah blah blah .. (but Spot FX so not a regulated product so clients cannot be segregated)... funnily enough not one of them makes money (not one) showing that, in reality, it is only the latency that makes them 'good traders'.
Monday rant over
Simon
we do not 'slip trades' we sometimes slip orders but usually only over data releases. If someone is over trading they may be put to dealer acceptance. But they are never slipped on a trade.
They either get the trade or not.
It also depends how somebody makes money. If they made a large sum trading 200 times a day taking pips off price latency then I am really sorry but i do not see the problem of CS putting them to dealer acceptance. Why is the SB company considered to be the evil man in these instances when it is (in fact) the client who is trading dubiously?
If CS only ever accepted trades that immediately went against clients but rejected all those that went for them we would be slaughtered by both the threads and the regulators. But a client who does exactly that seems to be treated as some kind of hero.
This is exactly the kind of thinking that got Europe into the problems they currently have. I remember Greece electing a member of parliament whose main claim seemed to be that he had defrauded the EU out of a million Euros or so. The Greeks presumably thought 'Wow well done him, just the kind of Robin Hood guy that we want in parliament' In fact that kind of thinking has ended them up where they are now.
Scalpers are not "the traders friends" because they divert providers energy and resource from providing a service to trying to prevent a tiny proportion of clients from ripping us off. I do like it when we offer these traders access to our Currenex 'professional' FX platform. Huge liquidity from 16 quoting FX providers, variable spreads (down to zero on occassion) blah blah blah .. (but Spot FX so not a regulated product so clients cannot be segregated)... funnily enough not one of them makes money (not one) showing that, in reality, it is only the latency that makes them 'good traders'.
Monday rant over
Simon
Yes what a rant Simon, worse than the anti SB agenda rants we read about on this part of the forum.
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Although I basically agree, or at least sympathise, with most of your posts, that one loses me! Are there really droves of punters out there with a mission to trade 'dubiously'. Even if this latency theory is true, surely it's then up to the SBs to speed up their systems?
And how does putting some clients on dealer referral square with MiFID? Why not just ring them up and explain the situation, rather than try to make them lose by choosing whether to accept bets on a delayed basis, when we (the punters) have no option to reject your offer unless it puts us in a losing position?
Anyway, what this has to do with Europe's deep-seated problems I have absolutely no idea.
Agree, that is an underhand tactics. You should give a notice to these traders that you are going to do that.
tar
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same discussions over and over again , CS will put you on a dealer for many reasons , one of them if you are a very active short term trader , there is no relation between scalping and "latency trading" , every latency trader is a short term trader but not every scalper is a "latency abuser" , however if you don't like it go elsewhere or change your way of trading , really 99% you will not make money anyway if you SB dozens of times every day looking for a point or 2 ...
Who are you addressing, every shot term trader or?
However, you do got a point about scalping profitability.____________
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