CMC VS E-trade

[ketank]

Hello all

I have been trading for 4 years now and have usually lost money in what ever I do. Finally with this lesson learnt I have taken a break and done Paper trading for the last 3 month.... don’t laugh but I still lost money........

Now I’m going back in BUT I have a plan....

I will be SB on FTSE100 companies mostly doing daily rolling bets.

My question is related to SB firms. I have heard good reviews for CMC but I have been using a demo with E-trade. I like E-trade but can I have your opinions on CMC VS E-trade.

Rgds
Ketank

 

[nobrainer]

Sounds like another recipe for disaster....ie. you've been losing and now want to spreadbet.If ,after 4 years you are losing , I'd suggest giving up to be blatant.
If you are going to perserve, I'd suggest daytrading these ftse100stocks and trying to scalp them for a penny or 3 at a time , but learn to cut losers fast and not run them.And for this purpose , there is no need for any other platform than cmc and an L2 provider such as advfn.And , oh yes, if you can conquer this formula, you will have achieved the holy grail in terms of daytrading esp. if you are lucky enough to get banned by them.
Good Luck.

 

[Atilla]

Hello all

I have been trading for 4 years now and have usually lost money in what ever I do. Finally with this lesson learnt I have taken a break and done Paper trading for the last 3 month.... don’t laugh but I still lost money........

Now I’m going back in BUT I have a plan....

I will be SB on FTSE100 companies mostly doing daily rolling bets.

My question is related to SB firms. I have heard good reviews for CMC but I have been using a demo with E-trade. I like E-trade but can I have your opinions on CMC VS E-trade.

Rgds
Ketank

I use CMC and they are not bad. I like their trading platform and software. If you are losing money I'd ask at what rate. Have your losses reduced, the same or increasing. If it is the latter two after four years why not give your money away to charity instead.

I've learnt a lot about

1. Money management (cut your losses and stick with winners and don't over bet your % limits with respect to capital you have)
2. Risk / Reward ratio and expectancy (CYOFs write ups and help have been excellent for me)
3. Technical Analysis ( for direction )

Good luck.




G

 

[ketank]

Belive me I have thought about giving up but I just cant...trading always creeps back. I have learnt my lesson and loose what i can afford to, with sensible losses (if there is such a thing).

I have included all money managent, win-loose ratio etc, but at the end of the day I have way more uncessefull trade than good one. but I will change that ONE day.

I'm playing with small amounts now.

I might give all my money to CMC this year...... Thanks.

 

[Atilla]

Belive me I have thought about giving up but I just cant...trading always creeps back. I have learnt my lesson and loose what i can afford to, with sensible losses (if there is such a thing).

I have included all money managent, win-loose ratio etc, but at the end of the day I have way more uncessefull trade than good one. but I will change that ONE day.

I'm playing with small amounts now.

I might give all my money to CMC this year...... Thanks.

What is the average time period you keep your position?

How many trades and how many instruments to you play per day?

Do you keep stats of your trades so you can look at average bets wins and instruments etc?

I found out that analysing each trade and reviewing why enter, why close the trade and my average stats have helped me a great deal.

Also, find trading systems that work for other people study them and see if you can use them.

Regards,

 

[ketank]

I do keep screen dumps of traded charts and see why i entered etc, I have been able to identify a few "stupid trade" patterns from this analysis and hopefully when i go live again I will cut these trade out.

That's a good point, how do you find trading systems that work for other people as I'm gussing people would keep this info to themselves?

 

[fibonelli]

Hi Ketank

Why don't you enter the T2W share trading competition and see how you do?

I'm using it to test various strategies and different methods of trading.

 

[ZEPPO]

Hello all

I have been trading for 4 years now and have usually lost money in what ever I do. Finally with this lesson learnt I have taken a break and done Paper trading for the last 3 month.... don’t laugh but I still lost money........

Now I’m going back in BUT I have a plan....

I will be SB on FTSE100 companies mostly doing daily rolling bets.

My question is related to SB firms. I have heard good reviews for CMC but I have been using a demo with E-trade. I like E-trade but can I have your opinions on CMC VS E-trade.

Rgds
Ketank

Hello Ketank,
You've got my admiration and respect - I have yet to see a post as honest as yours, to admit that you've lost money for so long, when most tend to boast of the contrary!
If you are going to spreadbet I would suggest that you do not day trade as you won't stand a chance against the SB firm - be it CMC nor anybody else!
Have you considered trading on a longer term, say, holding position from a few days to a few weeks?
There is nothing written on system design, it is hard, frustating, and you need to be creative; because of the ever changing nature of the market, when you finally stumble on a strategy which works, you may find that it'll stop working at some point in time, it is just question of when, not if! There is a reason most indicators do not work, but you will make money if you can find new ways of using them...for a time.
Personally I trade the indices (FTSE and DOW) and the Forex (GBP and EUR dollar crosses) with some success, but I do not daytrade.
I am at present studying a strategy for the FTSE100 components, and want to open a CFD account with CMC; but again, my strategy is based on daily charts, and do not daytrade.
You might try that, for all you know, you may well start making money!
Good luck in you trading.
Eduardo.

 

[Olipro]

Hello Ketank,
You've got my admiration and respect - I have yet to see a post as honest as yours, to admit that you've lost money for so long, when most tend to boast of the contrary!
If you are going to spreadbet I would suggest that you do not day trade as you won't stand a chance against the SB firm - be it CMC nor anybody else!
Have you considered trading on a longer term, say, holding position from a few days to a few weeks?
There is nothing written on system design, it is hard, frustating, and you need to be creative; because of the ever changing nature of the market, when you finally stumble on a strategy which works, you may find that it'll stop working at some point in time, it is just question of when, not if! There is a reason most indicators do not work, but you will make money if you can find new ways of using them...for a time.
Personally I trade the indices (FTSE and DOW) and the Forex (GBP and EUR dollar crosses) with some success, but I do not daytrade.
I am at present studying a strategy for the FTSE100 components, and want to open a CFD account with CMC; but again, my strategy is based on daily charts, and do not daytrade.
You might try that, for all you know, you may well start making money!
Good luck in you trading.
Eduardo.

not true, I trade the US with CMC myself with no problems, but I would suggest to ketank that he finds himself a successful strategy before he starts trading again.

you sound like someone too eager to sprint when it seems you can't even crawl.

the purpose of trading for every individual should be to come out with a profit; if you're losing and instead going into it on the hope and whim that you might achieve this then whilst I can't guarantee you'll lose... I think the odds of it would be pretty good.

Paper trade, get some experience... WIN and then carry that across to the real thing, else you're probably better off giving the money to charity.

 

[ZEPPO]

not true, I trade the US with CMC myself with no problems, but I would suggest to ketank that he finds himself a successful strategy before he starts trading again.

you sound like someone too eager to sprint when it seems you can't even crawl.

the purpose of trading for every individual should be to come out with a profit; if you're losing and instead going into it on the hope and whim that you might achieve this then whilst I can't guarantee you'll lose... I think the odds of it would be pretty good.

Paper trade, get some experience... WIN and then carry that across to the real thing, else you're probably better off giving the money to charity.

What is not true , Olipro? And, keep in mind that I do trade with Finspreads and IG Index.

 

[ch4cb]

ketank

If you are still losing paper money then you may wish to find a stratergy that works before using your real money (i speak from experience)!!!

I used to trade UK shares with Etrade and found their platform very simple and easy to use, however I now use capital spreads which is the same company and platform (just different colours) and the spreads are half as much.

It may not help you pick winners but at least the odds are more in your favour!!

good luck

 

[Olipro]

What is not true , Olipro? And, keep in mind that I do trade with Finspreads and IG Index.

daytrading not being feasible; it is very much feasible my friend.

 

[ZEPPO]

daytrading not being feasible; it is very much feasible my friend.

Using spreadbetting, I mean; congratulations, then, as you must be the only one who can do it!
First, the spreads are too big (on shares, I mean), and then, even if you are succesfull, the firms will start taking longer to fill your orders, re-quote you again and again, and ultimately close your account!
I never opened an account with CMC (fromerly "deal-for-free") because when I downloaded their 14-days trial "MarketMaker" platform (which is outstanding, by the way) it took an eternity to fill my orders - and that was a trial! As for answering the phone, my arm ended up dumb by the time I got a reply.
Hope it will different with CFDs; but if you can day trade within these constraints, then I take off my hat to you - and I probably wouldn't be the only one in this forum.
Therefore, i will ask you to forgive me if I am somewhat sceptical...
Eduardo.

 

[Olipro]

Using spreadbetting, I mean; congratulations, then, as you must be the only one who can do it!
First, the spreads are too big (on shares, I mean), and then, even if you are succesfull, the firms will start taking longer to fill your orders, re-quote you again and again, and ultimately close your account!
I never opened an account with CMC (fromerly "deal-for-free") because when I downloaded their 14-days trial "MarketMaker" platform (which is outstanding, by the way) it took an eternity to fill my orders - and that was a trial! As for answering the phone, my arm ended up dumb by the time I got a reply.
Hope it will different with CFDs; but if you can day trade within these constraints, then I take off my hat to you - and I probably wouldn't be the only one in this forum.
Therefore, i will ask you to forgive me if I am somewhat sceptical...
Eduardo.

Yes it does take an eternity on the demo; but fills are instant when you have a full account, oh, also, I trade CFDs, I do not spreadbet and have never spreadbet either so I can't talk for those folks.

 

[ZEPPO]

Yes it does take an eternity on the demo; but fills are instant when you have a full account, oh, also, I trade CFDs, I do not spreadbet and have never spreadbet either so I can't talk for those folks.

One of us must be missing something here; of course day trading is profitable, although I do not do it; my point is that it is very difficult to day trade profitably using spreadbetting because the SB firms will not allow it, at least with shares - you might get away with indices or Forex, depending in the number of trades you take; scalping is definitely discouraged.
There are very succesfull traders who day trade, for example, Alan Rich with the Nasdaq; but I prefer a longer term, with posotions from a week to perhaps a couple of months or three, depending on the trade.
By the way, the demo account was about spreadbetting, I still intend to open a CFD account with CMC.
Eduardo.

 

[Olipro]

One of us must be missing something here; of course day trading is profitable, although I do not do it; my point is that it is very difficult to day trade profitably using spreadbetting because the SB firms will not allow it, at least with shares - you might get away with indices or Forex, depending in the number of trades you take; scalping is definitely discouraged.
There are very succesfull traders who day trade, for example, Alan Rich with the Nasdaq; but I prefer a longer term, with posotions from a week to perhaps a couple of months or three, depending on the trade.
By the way, the demo account was about spreadbetting, I still intend to open a CFD account with CMC.
Eduardo.

I daytrade shares myself, again, not spread betting, with absolutely no issues although do note that I don't trade the UK ever and I solely go on the US, and again, CFDs.

 

[ZEPPO]

I daytrade shares myself, again, not spread betting, with absolutely no issues although do note that I don't trade the UK ever and I solely go on the US, and again, CFDs.

Judging bywhat I saw when I took tuition from Alan Rich, ther could be an advantage from trading US stocks, in his case, Nasdaq, because they tend to have very well defined trends during the course of the trading day, and there is no need to scalp, while I was told that the UK markets are somewhat more choppy.
Either way, I feel that I haven't got the temperament to day trade, and prefer longer term; as long as money is made, it doesn't matter, really, but for me, it is easier to let the trade mature for a while, that is why I recommend my trading style, not to those who are profitable with their style of trading, of course, but to those who are not.
Eduardo.

 

[Olipro]

Judging bywhat I saw when I took tuition from Alan Rich, ther could be an advantage from trading US stocks, in his case, Nasdaq, because they tend to have very well defined trends during the course of the trading day, and there is no need to scalp, while I was told that the UK markets are somewhat more choppy.
Either way, I feel that I haven't got the temperament to day trade, and prefer longer term; as long as money is made, it doesn't matter, really, but for me, it is easier to let the trade mature for a while, that is why I recommend my trading style, not to those who are profitable with their style of trading, of course, but to those who are not.
Eduardo.

I agree, it's all about your own personal style, and I'll point out I remember reading an industry letter about MiFiD and spread betting that actually (literally) stated "CFDs are Spread Betting" which was an interesting fact, although personally I still think it's essentially a mugs game even if that is true!

 

[neil]

Anyone looked at GFT for CFD trading?

I cannot see their deposit requirements per trade?

http://www.gftuk.com/

 

[ZEPPO]

Market Info Sheets

Anyone looked at GFT for CFD trading?

I cannot see their deposit requirements per trade?

http://www.gftuk.com/

Hi Neil,
In the CFD tab, click on the right of the page, where it says "Maket Information Sheets"; you'll land in a new page, from where you can select your instrument: shares, indices, etc...
Click on the appropiate instrument, eg., shares, and a new page will pop up with the details, which can be printed.
Eduardo