Cannot choosd SB Company - Please Help

[monkey180]

Hi all,

I have been on a demo till now and am confident to move to real money, SB the FTSE 100.

BUT I cannot choose a broker, obviously choose a 1 pip spread one.

There are alot of comment over the net about IG, and using software to manupulate so that you loose.

Are these stories, about brokers doing this stuff actually true? Or just made up.

I use Share Scope, and have the intraday feed on Max, so tick by tick, do brokers update their prices that often? Looking for fast recbounds so cannot be a lag.



Many Thanks

 

[bangkoker]

Hi


I have not had any problems with IG, find them very good and professional

Tried CMC recently, primarily as they go down to £1 per point etc on NASDAQ vs £4 on IG. Can't put my finger on it but don't feel as comfortable with CMC

 

[Vorbis]

There are alot of comment over the net about IG, and using software to manupulate so that you loose.

Your best course of action is to check it out for yourself; you cannot rely on the beliefs and opinions of unsubstantiated rumour.

Open a demo account and check the prices against your ShareScope feed. Also might be a good idea to use a third feed in case SS is rogue.

 

[monkey180]

Hi there,

Thanks, I would doubt that SS has a false feed, you reckon I should get a month of eSignal? And compare, also my internet is only 1 MB, is this enough for accurate prices?

Yes I do notice that the spread is not equally "either side" if the Mid in SS, is this because I am on max data feed, and the broker does not update the price that often?

Or is the price displayed in the broker just a guide, and the executive price will always be on the Mid, once your click buy?

Thanks for your help.

 

[Vorbis]

Hi there,

Thanks, I would doubt that SS has a false feed, you reckon I should get a month of eSignal?

I personally wouldn't pay for a feed, there are lots of demo accounts available on multiple platforms which seem OK. I use lots of MT-4 demo's with Capital Spreads on Currencies, and they are usually all within a couple of pips of each other.

my internet is only 1 MB, is this enough for accurate prices?

You'll know best if you've tried it on demo, if you are trading short-term it could be very important.

Yes I do notice that the spread is not equally "either side" if the Mid in SS, is this because I am on max data feed, and the broker does not update the price that often?

I think most charts default to the offer price, I had ShareScope a few years ago and I seem to remember it defaults to mid-price? The best thing is to choose what you're comfortable with and make sure all your charts are adjusted accordingly.

Or is the price displayed in the broker just a guide, and the executive price will always be on the Mid, once your click buy?

If you buy using a market order, you should see both Bid and Offer displayed and that is the price you pay. The mid-price is just a guide.

Looking for fast recbounds so cannot be a lag.

If by SB you mean Spread-Betting you may have a problem here. SB companies do not like very short-term traders and sometimes put them on 'dealer acceptance'. In practice this means they will delay your orders and make it very difficult for you to trade.I think it's their way of saying 'Go Away'. Check out the Capital Spreads thread among others for further details.

 

[monkey180]

Hi there,

Thanks for your detailed reply, much appreciative of your time.

When I mean short term I would probably have 2 / 3 positions per day, and a few where I got the entry point wrong.

Is this short term? Have you ever been put on Dealer Acceptance? What broker do you use / recommend?

Thanks

 

[Ross Spur]

Hi there,

Thanks for your detailed reply, much appreciative of your time.

When I mean short term I would probably have 2 / 3 positions per day, and a few where I got the entry point wrong.

Is this short term? Have you ever been put on Dealer Acceptance? What broker do you use / recommend?

Thanks

If you're only making two or three trades a day, and presumably have quite wide stops and targets, it won't make much difference which SB you use. They're all OK as long as you're not just trying to scrape a few pips all the time, so which to choose is more about whther you like the platform and charts.

 

[Vorbis]

Agree with Ross Spur. I use Capital Spreads and have had no problems, but I trade Hourlies with Limit Orders.

Their charting system is still very primitive, but their platform is one of the simplest to use.

 

[monkey180]

Many Thanks for your help Guys, shall stick to this forum, seems to have everything to know.

And yes SS does default to the MID.

Also I would be going in after sharp drops on the FTSE, have you any entry tips? MCAD's ect, Candlesticks....

And for staying in the position using a slow MCAD, to predict?

Thanks

 

[Vorbis]

Some people claim to make money using indicators but I have tested many and found no significant edge in any of them. Ultimately though, an indicator just presents a piece of information that represents past price behavior, it is up to the individual to decide whether that information can be used for profit. As far as chart-reading is concerned, I keep coming back to the Supply/Demand stuff of Sam Seiden, it's the only method that seems to make sense and actually work for me, but it takes practice.

Do not just blindly accept the claims of others (including me) but test everything for yourself. Make sure you have a large sample of test data, because I found a system that is extremely profitable for six months may be equally unprofitable for another six months.

I would advise you not to put any real money on the line until you are confident from your own experience that your methodology is sound. The most important thing I have learned is to treat everything as a suggestion and test it for myself.

Good Luck.