dma as opposed to spreadbetting

[michaelmsingh]

hello

please can someone advise me as to which is better to use? the dma through a broker or deal directly with dma or
deal through a spread betting firm like cmc??

 

[trader_dante]

*yawn*

It would be a great thing if people used the Search facility before posting...

 

[nine]

michael,

For some reason trader_dante is suffering donor fatigue.

His advice is worth following. Learning to use the T2W search facility will expose a trove of treasures.

Nine

 

[trader_dante]

michael,

For some reason trader_dante is suffering donor fatigue.

His advice is worth following. Learning to use the T2W search facility will expose a trove of treasures.

Nine

Hello!

I'm a little more level headed today. Better not to drink and write, I find 🙂

What I meant to say, Michael, is that your question has been debated many times before here on T2W and a search should uncover the appropriate threads.

I read one less than a week ago that had some very useful insights.

If you are really stuck reply and I will have a search for it.

Tom

 

[FXSCALPER2]

JG is right and I suggest you find what he wrote recently on this.

As to DMA or SB, it will likely make no difference.

 

[Splitlink]

hello

please can someone advise me as to which is better to use? the dma through a broker or deal directly with dma or
deal through a spread betting firm like cmc??

There's a lot of bias on this subject. If you are new to trading, probably SB is cheaper when counting your losses, because of trade size. That's what you want when you're learning

Who said searching was easy? A mod, I bet :cheesy:

Split

 

[Mr. Charts]

michaelmsingh,
Direct access is always better as you are trading directly into the market and not with a glorified bookmaker.
SB companies have wider spreads and you would soon find when your position size was more than tiny that there would be delays and re-quotes when you wanted to enter and more often exit a trade.
These would always be against you.
I have been trading for a living full time using direct access since 1999. I've also known many traders who gave up SBs to trade direct access and every single one preferred it.
Hope that helps,
Richard

PS Welcome to t2w. It's full of nutters, but some people are ok - normal even 🙂

 

[Splitlink]

michaelmsingh,
Direct access is always better as you are trading directly into the market and not with a glorified bookmaker.
SB companies have wider spreads and you would soon find when your position size was more than tiny that there would be delays and re-quotes when you wanted to enter and more often exit a trade.
These would always be against you.
I have been trading for a living full time using direct access since 1999. I've also known many traders who gave up SBs to trade direct access and every single one preferred it.
Hope that helps,
Richard

PS Welcome to t2w. It's full of nutters, but some people are ok - normal even 🙂

No! I refuse to get mixed up in this!

I'll have you know that the guy on the DRS thread thinks that I am normal, along with most people! :clap::clap:

Split

 

[black bear]

Will not get much cheaper than DA and papertrade the REAL MARKET imho, and if you find your no good ...........phone your Broker up and have your money sent back home less the cost of a few months platform fees etc, don"t think you will have much of those to pay if your out on the longer timeframes where most think you should be when your a learner anyway.

Good post Charts imho

 

[Splitlink]

Will not get much cheaper than DA and papertrade the REAL MARKET imho, and if you find your no good ...........phone your Broker up and have your money sent back home less the cost of a few months platform fees etc, don"t think you will have much of those to pay if your out on the longer timeframes where most think you should be when your a learner anyway.

Good post Charts imho

My question is

Fine, you'll get your money back---no problem--- but if you are disatisfied, how much money do you think will be left? Disatisfaction goes hand in hand with a string of losses, IMO

For starters, use a spreadbet company. If you don't like it, you'll end up with more change.

Split

 

[black bear]

My question is

Fine, you'll get your money back---no problem--- but if you are disatisfied, how much money do you think will be left? Disatisfaction goes hand in hand with a string of losses, IMO

For starters, use a spreadbet company. If you don't like it, you'll end up with more change.

Split

If you have no personal discipline at all thats your own fault imho and I would agree your in big trouble

If you have none of that Split I don"t think it will make a whole lot of difference who you go with, may as well get yourself down the dog track with a pin and open as many accounts as possible with every bookmaker daft enough to have you on the tick

Why do Sb firms generally offer none or little in the way of paper trade option on their platforms if like they say they want every one to trade in a resposible way. Offered ones are of very little use, what is it 10 weeks at penny a pt stakes with their quotes running 😆 then you have to up the stake, if papertrade option was available and worked very well, I bet most would lark around on it and get just as much whatever of they want out of trading, entertainment / Fun, whatever. Others would use it to improve and learn

Sb firms would make far less or would they :?: I think thats what they think

Get out of it

They are your worst option Split unless your messing about for Fun with what you consider FUN stakes

Hows Da going to cost you more than your fees unless your out of control of yourself Split :?:

 

[black bear]

If your Serious regards learning to trade and your happy your not going to start live trading till your papertrade method is showing consistant results (profit) then DA imho is your best option 🙂

If you think you may loose control or make a fat finger error etc = ask your Broker to nail down the account so only one lot can be traded or none for the first 3 months etc, they will not mind one bit, if they are a proper firm that is.

 

[black bear]

sorry Split, thought the question was from normal individual who as some common sense, understand what you mean in a more general way

Sb firm accounts are very easy to open and margin controls are .........not very responsible imho

Finspreads you can open £10 per pt trade with a coupe of hundred in the account(less I think) if you place a tight stop close within range of their hunter killer program 🙂

I need at least a coupe K to open a 1 lot trade on the ftse Split

 

[Mr. Charts]

Thanks BB.

If you practise trading with a BS-er co., although you might get the essential money-at-risk emotional pressure, it's not a good guide unless you make money. If you lose money it might well be because of the artificial spreads and the BS-er companies messing about with re-quotes, hanging tickets etc.
In other words, if you win with them over a statistically significant period of time in different market environments, then you should do so with direct access; but if you lose with them, that does not mean to say you would lose with direct access.
Richard

 

[Mr. Charts]

PS If you succeed trading, don't get over-confident, cocky and over trade. Be humble with the market and never think you have "mastered" it - otherwise it will bite your balls off (if you are male of course...)
In my experience females make fewer mistakes and don't get so over confident. Don't ask me why.
Richard

 

[FXSCALPER2]

Thanks BB.

If you practise trading with a BS-er co., although you might get the essential money-at-risk emotional pressure, it's not a good guide unless you make money. If you lose money it might well be because of the artificial spreads and the BS-er companies messing about with re-quotes, hanging tickets etc.
In other words, if you win with them over a statistically significant period of time in different market environments, then you should do so with direct access; but if you lose with them, that does not mean to say you would lose with direct access.
Richard

Here is a bet I am prepared to put a lot of money on: a losing trader will lose whoever he trades with and winning trader (excluding a scalper) will win whoever he trades with. I know this because I use so-called DMAs,IG index and CMC. I think it is nonesense to say that you lose going long EURUSD with IG index but win going long EURUSD with IB. Boy, that is such bollox when you put it like that, hehe.

 

[Mr. Charts]

I'm talking about trading shares

 

[FXSCALPER2]

I'm talking about trading shares

Oh ok, I don't know anything about traing shares. I had fx in mind. Cheers.

 

[Mr. Charts]

I should have made that clear 🙂

 

[black bear]

Thanks BB.

If you practise trading with a BS-er co., although you might get the essential money-at-risk emotional pressure, it's not a good guide unless you make money. If you lose money it might well be because of the artificial spreads and the BS-er companies messing about with re-quotes, hanging tickets etc.
In other words, if you win with them over a statistically significant period of time in different market environments, then you should do so with direct access; but if you lose with them, that does not mean to say you would lose with direct access.
Richard

Hi Richard

I was in the most at risk group of would be traders when with Sb firms (small move trades) so concede I am totally biased against them

I used them to learn thinking it would be the cheapest option like Split as pointed out, once I found I prefered the small trades / timeframes thats when the trouble started

Just does your head in and gets you down = not worth the pain imho if you want to learn go learn the real thing and be responsible, be aware that even if you trade in profit with a good method you have a lot to learn when you go live with real money

😆😆 use sb firms then and build up your stake if that is proving to be an issue (not short tf / scalper trades)

I found I may as well have gone DA first, was just worried over nothing as it turns out, guess they are not so approachable for newbies bit imposing etc I think I just wasted a year trying to trade with them, started being over careful and not taking all my signals, started second guessing THEIR MARKET etc = would not like to go back there

The service and platforms are next to useless imho

Unless its the credit card payment ...that thing will work everytime .....no problem at all, which is strange when you think about it because it as the same sofware priority as the deal ticket 😆😆 just works every F..ckin time unlike the charts and the deal ticket and the platform on payrolls day.

Latter