Tenapenny
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Was on DD platform and lost that too.
Best Thread Capital Spreads
Was on DD platform and lost that too.
capitalspreads
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mEmmerr
if you have bought £2 a point you just sell £1 from the main platform (not from the open position page). the systems will automatically adjust your stop order (and any limit orders) to £1, to reflect the fact that you will now only have £1 open. Margin requirement is also automatically adjusted and the Profit(or loss) from the closed £1 is added to your account.
i.e you just do the opposite action to your original opening bet but in the size that you want to close.
Simon
if you have bought £2 a point you just sell £1 from the main platform (not from the open position page). the systems will automatically adjust your stop order (and any limit orders) to £1, to reflect the fact that you will now only have £1 open. Margin requirement is also automatically adjusted and the Profit(or loss) from the closed £1 is added to your account.
i.e you just do the opposite action to your original opening bet but in the size that you want to close.
Simon
You mentioned in an earlier response that CS were possibly looking to upgrade their platform around the end of May. Is there any further info on this ?
Outa my gourd
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I need a little help getting my head around something. Forgive me if this has been answered before - it's a big ol' thread to be trawling through!
I've just been in a trade on CS: Sell EUR/USD for 1.3599. My stop loss was 1.3614. Can anyone tell me why it was closed at 1.3612?
It's not the first time this has happened and when I called CS on the first occasion (this'll be the third), I was told "It's the spread". I thought the spread was priced into the trade? As it happens, on this occasion the candle turned around and went on to cross my profit line. So, has CS been over-eager in closing, or am I not getting how thing works? I've watched the candle on other occasions, and the trade hasn't closed until the line has been crossed.
I've just been in a trade on CS: Sell EUR/USD for 1.3599. My stop loss was 1.3614. Can anyone tell me why it was closed at 1.3612?
It's not the first time this has happened and when I called CS on the first occasion (this'll be the third), I was told "It's the spread". I thought the spread was priced into the trade? As it happens, on this occasion the candle turned around and went on to cross my profit line. So, has CS been over-eager in closing, or am I not getting how thing works? I've watched the candle on other occasions, and the trade hasn't closed until the line has been crossed.
Jbat001
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All stops are non-guaranteed. CS don't (as yet) offer guaranteed stops, and may never do so. IG index do, but you end up paying a wider spread as a result.
It looks like the market may have gapped below your stop level, and in which case, the stop would have been filled at the next available level. It's harsh, but that's the market, unfortunately. CS's charts are on a bid basis, so if you were short, the price on the chart should be the price your orders are filled at. Simon would say that all chart prices are indicative, which is true, but the basic logic applies.
It makes life harder if you're a short term trader. If you position trade, its not such an issue.
It looks like the market may have gapped below your stop level, and in which case, the stop would have been filled at the next available level. It's harsh, but that's the market, unfortunately. CS's charts are on a bid basis, so if you were short, the price on the chart should be the price your orders are filled at. Simon would say that all chart prices are indicative, which is true, but the basic logic applies.
It makes life harder if you're a short term trader. If you position trade, its not such an issue.
Were you closed at 1.3612, or do you mean this was the price on the chart when your stop was hit.
When you say you are watching the candle, are you looking at the bid price on the chart at the time your stop is hit, if so 1.3612 is correct because you are buying back at the offer to cover your trade at 1.3614.
Apologies if you were actually closed at 1.3612.
Outa my gourd
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No apology necessary - I'm grateful for the replies
Ok, the candle in question (it was the 10:00 EUR/USD) reached 1.3612 (at this point, my trade was closed at a loss). It then did an about-turn and a subsequent candle went on to cross my profit line. My stop loss was 1.3614.
The original trade at 09:55 was sell @ 1.3599 with a 15pt stop.
No apology necessary - I'm grateful for the replies
Ok, the candle in question (it was the 10:00 EUR/USD) reached 1.3612 (at this point, my trade was closed at a loss). It then did an about-turn and a subsequent candle went on to cross my profit line. My stop loss was 1.3614.
The original trade at 09:55 was sell @ 1.3599 with a 15pt stop.
The bid did touch 1.3612 (Top of 10:00 Candle) shown on the chart with E-Trade which is the same feed as CS.
So with the 2 pt spread not shown on the chart, on this occasion CS were correct in closing you at your stop of 1.3614.
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Outa my gourd
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Thanks for taking the trouble to double-check that for me, Minch.
Does that mean that I have to expect a trade to be closed whenever it gets within 2pts of the stop loss? Sorry if that sounds like a stupid question, but I'm afraid I only started spread-betting a few weeks ago, so I'm on a steep learning curve
I've only seen it happen in a few of my trades.
Outa my gourd
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capitalspreads
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quite a bit of comment on the protection of client funds.
LCG (capital spreads) has always taken the extreme view of this and considers all clients to be 'retail'. this means that all client funds MUST be held in a segregated account (and all winning positions as well) with a "reputable bank" (and i realise that this may be considered an oxymoron by some).
This means that LCG cannot use client funds as margin against its own positions which have been taken out as hedges against client bets. We must use our own funds.
CFD's clients are generally (but not necesseraly) considered to be 'professional'. This means that their money can be mixed up with the cfd providers own money and used pretty much as they see fit.
This generally means that your funds are not as safe with a cfd provider (a much more respectable product) than with a spread betting account/provider.
Funny old world.
A classic example was the failure of Global Trader at the start of 2008. Because of the losses of one position, which the client could not cover, in an illiquid stock the company could not get out of the hedge. The company was suspended but all the other client funds, because they were not in segregated accounts were at risk.
Simon
LCG (capital spreads) has always taken the extreme view of this and considers all clients to be 'retail'. this means that all client funds MUST be held in a segregated account (and all winning positions as well) with a "reputable bank" (and i realise that this may be considered an oxymoron by some).
This means that LCG cannot use client funds as margin against its own positions which have been taken out as hedges against client bets. We must use our own funds.
CFD's clients are generally (but not necesseraly) considered to be 'professional'. This means that their money can be mixed up with the cfd providers own money and used pretty much as they see fit.
This generally means that your funds are not as safe with a cfd provider (a much more respectable product) than with a spread betting account/provider.
Funny old world.
A classic example was the failure of Global Trader at the start of 2008. Because of the losses of one position, which the client could not cover, in an illiquid stock the company could not get out of the hedge. The company was suspended but all the other client funds, because they were not in segregated accounts were at risk.
Simon
top trader
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opened a new account with worldspreads as fed up with capital (takes much longer time to confirm).
very fast fill, so far, with 1 point spread in ft/dax and 2 points in dow during trading hours.
very fast fill, so far, with 1 point spread in ft/dax and 2 points in dow during trading hours.
tar
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Thanks , i have both account types and i think i can apply for a compensation from the FSCS for my CFD account if my provider goes under , right ?
Home - Consumer home page - Consumer key facts - Limitations of the scheme - Compensation limits
They were also doing a zero spread one day a week on ftse, don't know if they still do.
I once used to trade a lot with WS, They had a chance of becoming a major player, maybe as big as CS, but they blew it along the way. Still to this day, I am not allow to trade live with them, without being referred to a dealer. I wonder why?
The answer is simple. I guess you were making money. You are referred to the dealer whether its Worldspreads or Capital Spreads and surely other spreadbetting companies if you regularly make money and your account grows. They will find a way to slow you down or even grind you to a halt. There are numerous examples of this and although the spreadbet companies would deny it, they do this all the time. Losers always get great execution whereby winners need to wait for the dealer.
B
Black Swan
hmmm....depends on your definition of a "winner", IMHO if you take (win) perhaps 200-300 pips a trading day from a 'reputable' SB company, and do this by not attempting to exploit differences in speed/quote etc, placing relatively modest bets per pip, (perhaps £1-£3), staying in trades for an average time of 1-2 hours minimum and do this on the main currency pairs/indices then you'l fly well under their radar and be left alone....completely.
