Best Thread CMC Markets owner answers your questions

[eastwood666]

There's only one thing more irritating than people trying to blow smoke up your ar5e is when they do it as if they're on the pipe..

No one successfully scalps, over an extended period of time, news events through SB firms. In fact no one (long term) successfully scalps news events period. Heh, I dunno, you could be the one in a million exception that is so sprinkled with stardust that you always get it right on news events but I doubt it.

The likes of FXCM pump up NFP day to mug people off/inflate revenue on the day..and I like FXCM, they're OK..but the best anyone will do on news events is 50-50. Even if you get the direction/data right that's only half the battle, contending with the 'double spikes' is the other. Most experienced retail players I know find news events a pain, unless they simply like a small throw away punt on the day...

Let's take Trichet yesterday, price on the Euro reverted back to its weekly trend after a 2 way spike, of course you're gonna tells us that you saw it coming widened your stops, had limits in place on your short and long hedge so whatever the spike direction was one trade would be breached the other hit limit you walk away with 30-50 pips...righto...heard it all before..

The CMC issue I'm not answering, none of my business, I read your sophist clap trap, and then the bit about clever algo software that scalps ten different platforms etc. nah..doesn't wash..but heh, knock yourself out..

I really didn't want to continue this exchange, but you are such an arrogant cretin it is hard not to. I have traded full time for around 7 years and among other things traded news events this way since 2005/06, which is approximately when the software became available to make it possible. Software such as this,http://www.dowjones.com/salesandtrading/product-elementized-news-feed.asp , or this http://deutsche-boerse.com/dbag/dis...stestmachine-readableeconomicandcorporatenews . The software I use is not quite as sophisticated as Reuters NewsScope or publicly available, but works on a similar basis to those above to trade economic data and news events. I couldn't care less what FXCM or other such bucket shops say, I trade any surprises to the consensus in news announcements and use pre-programmed software to take positions based on any surprises. I do the same thing longer term without software in stocks, or anything else where there is a market repricing. I try to estimate the effects of an upside or downside surprise before hand and take a position after the news hits if I think there is room for more movement. Sometimes it is a scalp, other times it results in a long term hold, depends on the situation. Do you really think I alone am the only one in the world who reacts to news?

You are a typical jumped up nobody who likes to talk tough on a forum. Give me your email address and I'll show you my accounts, otherwise do yourself a favour and stop pretending you know everything. So far you have shown yourself to be childish, arrogant and ill informed. You don't know me or my track record, I'm even prepared to show you more information than is really worth my time just to put an ignorant fool like you in your place. So, either give me your email address, admit you are wrong or shut up. I've wasted enough time posting replies to a professional forum contributor, so other readers rest assured I have said all I intend to.

 

[Black Swan]

I really didn't want to continue this exchange, but you are such an arrogant cretin it is hard not to. I have traded full time for around 7 years and among other things traded news events this way since 2005/06, which is approximately when the software became available to make it possible. LIke I said, look up Dow Jones Alpha Flash, or Reuters News Scope. The software I use is not quite as sophisticated as NewsScope or publicly available, but works on a similar basis to trade economic data and news events. I couldn't care less what FXCM or other such bucket shops say, I trade any surprises to the consensus in news announcements and use pre-programmed software to take positions based on any surprises. I do the same thing longer term without software in stocks, or anything else where there is a market repricing. I try to estimate the effects of an upside or downside surprise before hand and take a position after the news hits if I think there is room for more movement. Sometimes it is a scalp, other times it results in a long term hold, depends on the situation. Do you really think I alone am the only one in the world who reacts to news?

You are a typical jumped up nobody who likes to talk tough on a forum. Give me your email address and I'll show you my accounts, otherwise do yourself a favour and stop pretending you know everything. So far you have shown yourself to be childish, arrogant and ill informed. You don't know me or my track record, I'm even prepared to show you more information than is really worth my time just to put an ignorant fool like you in your place. So, either give me your email address, admit you are wrong or shut up. I've wasted enough time posting replies to a professional forum contributor, so other readers rest assured I have said all I intend to.

Nonsense, when in hole strop digging. Let me tell you how I *trade* news events like yesterday's Eurozone hold on rates...I don't, other than widening my stop on the trend trade I'm already in, 75% success rate on that 'no trading the news' strategy..Now if you'd really 'evolved' you'd realise that you don't have to play the noise of news events and if you haven't you need to..

 

[Black Swan]

Have you ever considered that there might be someone else who actually knows more about something than you?

Every minute of every day, I'm incredibly humble about my trading, the hours of research I've engaged in must be approaching 10,000 now, still haven't got my black belt in trading yet, and as any martial artist knows it's only then when the real learning begins..

Always willing to learn off folk I know and have built up respect for. One guy, approx. two years back proved to me statistically what a mugs game trading NFP was...I didn't believe him given I'd scored regularly having a punt;

and here's what I'd do, I'd take 2 positions on the Euro on the 3 or 5 min candle before the announcement, one long one short, 30 pip stop, 50 pip limits, lol, it actually worked a lot, 20 pips for nothing get in there...until the stop got smashed through ("fast moving market Sir"), or the right direction was stopped before the wong one but the limits didn't get hit, or the spread suddenly got widened 3-5 mins before.. Heh each to their own but why would anyone put themselves through that aggro when there's no need? There's plenty of ways of making pips without resorting to playing the noise of news events, to do it with the Hydron fookin Collider on your PC is madness. My recent experience is that 65-70% of the time the likes of NFP announcements doesn't effect the trend, but I may be slightly out on that given I watch it from the safe distance of the 2-4hr TF when its a blip..

Look we've said this before, I don't subscirbe to the James 16 view that trading anything below the daily is noise but if you're competent you don't need much more than one charting package and a decent PC to make a decent living from this game.

 

[Truth Seeker]

James 16 can't trade for ****e anyway, he makes his money through subs from noobs, does no live trades, and will not show P&L sheet etc. I uncovered him years back and got banned by Forex Factory (anyone did who questioned him) because they were in it with him erasing posts and helping to cover his tracks. There's a lot of Criminals and Snake Oil Salesmen in this business. People who do not fly straight (and answer questions directly and honestly) are the ones you need to avoid like the plaque. To add, James 16 method is a copy of Prings work.

 

[MasterOfTheUniverse]

I can't be bothered to read this thread, seems like its gone off-topic? So is CMC a good platform or not?? Is there a better SB platform than IG?

 

[geewcee]

I can't be bothered to read this thread, seems like its gone off-topic? So is CMC a good platform or not?? Is there a better SB platform than IG?

SmartLiveMarkets...

 

[Black Swan]

I can't be bothered to read this thread, seems like its gone off-topic? So is CMC a good platform or not?? Is there a better SB platform than IG?

Yes it is and yes there's arguably better platfroms than IG, who are still a very good SB firm, as are the top 3-4/5 SB firms imho.

Platforms are partly a personal asthetic choice surely? That's possibly why the 'debate' becomes so polarised and subjective..

 

[Ross Spur]

I can't be bothered to read this thread, seems like its gone off-topic? So is CMC a good platform or not?? Is there a better SB platform than IG?

MT4 through SLM, FXCM, GFT Dealbook (with a few reservations)

 

[hoodoo man]

I really didn't want to continue this exchange

You're banging your head against a brick wall. There appear to be very few civilised people here and an even smaller number of people who know anything about the markets or achieve considerable success.

We both appear to be making some headway with our trading and for some reason this inflames...err...certain elements...here.

Thank you for bringing to our attention your account closure with CMC. Somehow I don't think this will be one of the questions Mr Cruddas will address, although I would be happy to be proved wrong.

The bottom line seems to be that the more successful you are, the more difficult to find counterparties for your trades. This is of course in line with rational expectations, and one of the challenges of this business at the higher levels. Since nobody else here has problems getting their 1 lot filled whenever they want to trade, the more interesting execution issues are not discussed. Shame really.

Thank you for your information and all the best with your endeavours.

 

[Black Swan]

You're banging your head against a brick wall. There appear to be very few civilised people here and an even smaller number of people who know anything about the markets or achieve considerable success.

We both appear to be making some headway with our trading and for some reason this inflames...err...certain elements...here.

Thank you for bringing to our attention your account closure with CMC. Somehow I don't think this will be one of the questions Mr Cruddas will address, although I would be happy to be proved wrong.

The bottom line seems to be that the more successful you are, the more difficult to find counterparties for your trades. This is of course in line with rational expectations, and one of the challenges of this business at the higher levels. Since nobody else here has problems getting their 1 lot filled whenever they want to trade, the more interesting execution issues are not discussed. Shame really.

Thank you for your information and all the best with your endeavours.

sigh.. Give it a rest you pair of whoppers...

If you trade at a quasi institutional level or indeed at institutional level, using for example Bloomberg Tradebook, you wouldn't come onto this thread banging on about not getting you spread bets on with CMC..If trading, for example, futures and or equities you'd be too pre-occupied with complex customizable trading strategies, getting entries and exit logic tight to be interested in what CMC or the likes of IG does.

Using Bloomberg data underpinned by using spread trading algos, economic release–linked algos, If/trail algos, the escalator/market depth, the order book, the spread matrix etc..would leave you precious little time to skim a bit extra through an SB firm. And having acquired the levels of knowledge you'd need, in order to be in such a position, you'd know the 'circuit-breakers' the likes of CMC have in place to make sure you can't stiff them like a cheap hustler. And all this expertise would be traded through the likes of Autobahn to make money, big money, you wouldn't give two 5hits about IG/CMC/FXCM..

One thing I learned early on in this game is that it helps to know your place in the food chain, you're either at institutional level or you're down there with the rest of us, there's very little halfway ground. There's only a handful of (fairly active) T2W members who trade at a high level, and they'd never carry on like you pair of sock puppets.

Could I play in the rarified atmosphere were I'd justify the need of a Bloomberg Tradebook terminal? For sure, but I'm miles away from doing the size to make it worthwhile and so are you and that other whopper, so just stfu and move on, there's a good lad..

 

[Truth Seeker]

Eastwood

Contact me and let's talk.

 

[Truth Seeker]

CMC only go up to £200pp on FX and when you trade this amount and have a run of winners, you get your account closed, why is this?

 

[Gaugerer]

Can CMC please explain why they keep closing trading sessions which results in having to keep signing back in many times a day?

 

[PC at CMC Markets]

hi gaugere,
this is time out issue. the systems time out after awhile.
we are working on this to stop it happening.
will find out where we are and let you know
tks peter

Can CMC please explain why they keep closing trading sessions which results in having to keep signing back in many times a day?

 

[bangkoker]

Is there a way to tie up the times with the lines on the charts?

Although it looks very pretty I find it extremely hard to work out what should be straightforward things like where the day started and ended (needed to help develop a system).

If I am not making myself clear, I mean it is hard to work out which bar (on a 5 min chart for instance) is 7:55 and which is 8:00 because the times are very vague on the top (for instance 7:45 floating around then 8:45 but with no clear indication of which bar.

It is a little difficult to explain but it is a little offputting

 

[Truth Seeker]

I see you're still not answering my questions Peter. That speaks volumes to me, like this thread is being used as a selling platform and you are only choosing to answer the easy questions that will look good on your company and leave the real questions that effect traders who make money.

 

[PC at CMC Markets]

Hi Bangkoker

Thanks for your question. I will get back to you shortly
tks pc

Is there a way to tie up the times with the lines on the charts?

Although it looks very pretty I find it extremely hard to work out what should be straightforward things like where the day started and ended (needed to help develop a system).

If I am not making myself clear, I mean it is hard to work out which bar (on a 5 min chart for instance) is 7:55 and which is 8:00 because the times are very vague on the top (for instance 7:45 floating around then 8:45 but with no clear indication of which bar.

It is a little difficult to explain but it is a little offputting

 

[Ross Spur]

Does anyone else have a problem with Next Gen chart trading, specifically with the order dragging facility not working? With some browsers clicking on the triangle does nothing, with others the feature works for a while but then doesn't. Sometimes it can be fixed by closing and reopening the chart, sometimes by closing and reopening the platform. Tried different computers and OSs, but it seems to be Flash related.

 

[nigelpm]

Peter,

Any more on the Brent/WTI spread instrument you mentioned would be in place a month back?

Also, any date for moving the FTSE smallcap shares over to the next gen - it's annoying having two accounts open.

 

[Gaugerer]

I have just experienced another one of those regular platform disconnections by CMC and this time when I log back in there are extra spurious candles added making technical indicators useless.

These extra spurious candles are often there on the Euro50 chart between 7am and 8am too. It is time CMC started to address these issues rather than make excuses else traders will go elsewhere.