Are CMC swallowing my money?

[mpat89]

Yesterday I had a buy stop on SMIN @ 855.9 which got hit which I'm positive should not have.
Today a stop sell on EZJ @ 372.7 has been executed.

I am positive that in both cases these orders should NOT have been executed. This has lost me a total of nearly 4% of my account. If it carries on at this rate my account will be wiped out within two months.
Could anyone who cares to please advise me on what to do in this sort of situation?
CMC say their prices reflect the shares movement and I don't really know what to say in response to that.

I've been dying to move to IGIndex but they put me on a fixed risk account. I can start with City Index but I'm hesitant because of their slightly higher spreads and lower coverage of FTSE350 instruments.
Maybe someone can advise me here too.

 

[mpat89]

iii's trades page shows:
8:01:58 371.6p 390 £1,449 371.6p 381.8p SELL AT
8:01:30 381.9p 1,185 £4,526 371.6p 381.9p BUY AT
8:01:28 381.9p 1,000 £3,819 371.6p 381.9p BUY AT

So maybe I'm not being conned? One sell all day under my stop. I had 600 shares though but I appreciate that could have been their net position. What do other people think?

 

[foredog]

JUst looked at time and sales and for smin yesterday they traded at 855 and also the spread was 853-856.5 when a trade went through the order book at 08:14, so probably should've been stopped out, depends if they go on touch price or last trade.

With EZj just think it's illiquid and had a 10p spread so unfortunately you got taken out. don't think they're out to get you, but could be wrong.


Very frustrating though.

 

[mpat89]

Yep quite frustrating! I didn't think any FTSE 350 stocks would be so illiquid as to have their spreads fluctuate so much. All I can hope is that I would have got taken out of EZJ anyway . Shame about SMIN, pure waste of money! Bought and got stopped out all before I had even checked my account.

 

[tommac]

I gave up s/b anything outside of FTSE100-I just buy outright now and its been way more profitable.
in fact thinking about it I am way up since stopping sb ing--just hang on longer if i have to with a mental stop--
I understand not eveyone in a position do this however.

 

[barjon]

iii's trades page shows:
8:01:58 371.6p 390 £1,449 371.6p 381.8p SELL AT
8:01:30 381.9p 1,185 £4,526 371.6p 381.9p BUY AT
8:01:28 381.9p 1,000 £3,819 371.6p 381.9p BUY AT

So maybe I'm not being conned? One sell all day under my stop. I had 600 shares though but I appreciate that could have been their net position. What do other people think?

mpat

I see the trades you quote are very near the open. The spreads on the open and in the first few minutes are often pretty wild - on the real market as well as sb - even for the bigger shares. Changing your sb company won't change that.

I generally take off my stops and put them back when the market has settled down to "normal" spreads. 'Course the wildness can act to your advantage for limit orders .

good trading

jon

 

[barjon]

bramble

thx for pm but you've got yours turned off so can't reply!!

cheers

jon