brasil2000
Member
- Messages
- 99
- Likes
- 12
Hi Dave,
What markets do you trade where you pay an 5-7 spreads,and what percentage of your trades do you pay these spreads.
Hi Dave,
What markets do you trade where you pay an 5-7 spreads,and what percentage of your trades do you pay these spreads.
I trade the Dow, euro and cable and dax and I would guess I pay these wider than advertised spreads in over 70% of cases and get the advertised spread 2% of the time, the other % is slippage of 1 to 2 pips pet trade. I'm talking market orders here not limits, but nowhere on the cmc site does it state the advertised spreads are not applicable for market orders.
Trading the Dow, are you talking about slippage in fraction of a point or whole points?
____________
"Take control with Risk & Money Management"
Whole points.
F##k me this thread still going Like CMC !
I logged in again just to see if there are any good changes and errrr no
I got three screens and still need room to have all my quotes open and charts on CMC.
Give up and use MT4 or go back to the Old Platform which I might add was light years ahead of this Next Gen Crap.
I'm the OP
Wish I had power to close it lol
I logged in again just to see if there are any good changes and errrr no
I got three screens and still need room to have all my quotes open and charts on CMC.
Give up and use MT4 or go back to the Old Platform which I might add was light years ahead of this Next Gen Crap.
I'm the OP
Wish I had power to close it lol
Why use them if the slippage/spread is that bad?
You can still make money if you include the slippage for longer term intraday trades, some sb firms can come out worse on the Dow cause of wider spreads and slippage.
Maybe it's possible to make money on swing trades, but I can't think of any SBs that give worse than 7pt on major FX crosses
and indices nowadays, if that's what you mean.
I said I expect (so plan for) 5-7 pips costing, round trip which means 2.5-3.5 per click of the button. This is not ideal but workable, and are market orders, I suggest you check your current sb firm and cross check what actual price you are being filled at to the price you click on, you will be surprised at the differences. If you use a sb firm that gives you what you click on, please share who they are with advertised spread ad I would be interested.
tar
Legendary member
- Messages
- 10,443
- Likes
- 1,314
Particularly if you're trading US30, City is usually good. FX will always be harder to pin down, but overall, I don't think you'll be losing 2.5-3.5 on each click unless you're using very large stakes.
Yes this is the problem, as said before what we need is some statistics from live trades at CMC, preferably quite many trades, showing the real slippage, and from this calculating the average spread. I think one has to video record the trades in order to find out the actual slippage for each trade, and what spread is specific for each market conditions. If it turns out that the average spread for US30 is over 2 points I see no reason to trade with CMC, when I can have 1 point spread with City, at least not with my type of trading.
____________
"Take control with Risk & Money Management"
Depends what you call large, 50-100pp is my size, not what I would call very large at all.
I am with you. Opened a demo/live acc two weeks ago, and to be honest I hate it!
Wondering how long they will keep the Marketmaker alive, in the meantime I am looking for a new broker.
I've been with CMC for a few years and reluctantly moved to NG. I think I got used to the interface. It was not without difficulty as changing the way one puts in trades is always hard. I think that after a number of months I am happy with the change and can see several advantages, including spreads and execution. Sometimes flash is a little slow to bring up the trade window but it happens rarely. There's been the occasional problem with charts but really nothing major.
I do have one problem with the system though. It's the way pending orders interact with orders on current positions. Differently from MM4 one can put in limit and stops on a current order. However one can obviously also have open orders (with limits and stops) on the same market. The problem is that if both orders get triggered at the same time the open order takes precedence on the active one. This may result in the position being closed without the opposing position being taken.
Example: say you're short on spx with limit to close at 1250 and an open order to go long for the same amount at 1250. The outcome of this is most likely to be that when the market trades at 1250 you'll go flat. The reason is that the open order will trigger first, thereby closing the position, and so the limit on the open position will never be executed.
You may think you could put the two orders close to each other to avoid this. That's not obvious because A) you may really want that level, B) even if they are a little bit away from each other a gap in the market may still trigger the open order before (Happened to me!), and C) the situation above may be the result of two pending orders with preassigned limit and stop and you do not know which one will trigger first (eg in support/resistance trading).
This is a serious problem - I spoke to CMC a couple of times regarding this. They promised to get back to me but no one did.
I do have one problem with the system though. It's the way pending orders interact with orders on current positions. Differently from MM4 one can put in limit and stops on a current order. However one can obviously also have open orders (with limits and stops) on the same market. The problem is that if both orders get triggered at the same time the open order takes precedence on the active one. This may result in the position being closed without the opposing position being taken.
Example: say you're short on spx with limit to close at 1250 and an open order to go long for the same amount at 1250. The outcome of this is most likely to be that when the market trades at 1250 you'll go flat. The reason is that the open order will trigger first, thereby closing the position, and so the limit on the open position will never be executed.
You may think you could put the two orders close to each other to avoid this. That's not obvious because A) you may really want that level, B) even if they are a little bit away from each other a gap in the market may still trigger the open order before (Happened to me!), and C) the situation above may be the result of two pending orders with preassigned limit and stop and you do not know which one will trigger first (eg in support/resistance trading).
This is a serious problem - I spoke to CMC a couple of times regarding this. They promised to get back to me but no one did.
