Not filling orders when market moves to quickly

[Oatcake_eater]

I'm currently with IG Index and I'm getting pretty angry with them at the moment. On friday I missed out on around 100 pips because they wouldn't let me enter.

They explained the problem is because the market is moving so quickly the price I enter at on my screen is no longer valid by the time the order hits there servers. Thats just not good enough for me, i want to get in when I want, lot when there platform will let me.

Does anyone else have this problem and is there any companys where this doesn't happen?

 

[Racer]

Spreadbet companies do that, you can't use them at all if you want to trade at the volatile times

 

[millsy500]

you get that with sbs. and then you find out your filled when they see the markets moved against you. they all pretty poor really. avoid news moves etc with sbs if i was you

 

[Oatcake_eater]

My trading style is short term fundimentals so I can't really avoid news trading!

Isn't there any SB platforms that will let me enter when i want?

 

[dcarrigan]

My trading style is short term fundimentals so I can't really avoid news trading!

Isn't there any SB platforms that will let me enter when i want?

yes. futures betting. ladder style to put bid/ offer where you want. downside 5k deposit needed.

 

[DepthTangent]

The excuse that the price has moved by the time it hits their servers is utter rubbish. What is your ping time ? Are they trying to tell you that an average broadband connection with a ping time of about 20-200 ms is going to result in a change of price nearly every time you try and place a bet ?

This excuse is really quite inadequate as the fact is, the price you click is the price that is offered at the time you click the button. That is an undeniable fact.

If you can trade profitably with SB companies your laughing by the time you move over to futures. I started out with SB accounts and all I can say is that it was first class training !

I might also point out that when you can see fast moves manifest before the SB's start messing about with prices and rejecting bets displays that you are one step ahead of those that decide when to start messing about with the prices and rejecting orders

My mind is sharper than your mind Mr SB !

 

[dcarrigan]

I'm currently with IG Index and I'm getting pretty angry with them at the moment. On friday I missed out on around 100 pips because they wouldn't let me enter.

They explained the problem is because the market is moving so quickly the price I enter at on my screen is no longer valid by the time the order hits there servers. Thats just not good enough for me, i want to get in when I want, lot when there platform will let me.

Does anyone else have this problem and is there any companys where this doesn't happen?

on my screen i had the dow june futs, at 1.30 the markets went wild up and down, think it was between 11260and 11320. it put me off trading, but it was only for a short while. can understand sb companies at that time not wanting to trade.

 

[Oatcake_eater]

The thing is i don't care that the price has (maybe) moved a few pips. I want to get into the trade either long or short. I couldn't even tell you what the price is, it's not important.

I know oanda broker always fills orders, at the market rate, even if it is slightly different to the price you clicked.

 

[DepthTangent]

GJ

Your an experienced chap and know your game. When I traded with SB's I loved them, then I hated them, then I developed a love hate relationship. Love & hate are just the same emotion at opposite ends of the emotional spectrum, which when applied correctly produce a thought constructed around central balance.

Ultimately, my trading journey was a very tough self learned process. By the time I was timing my entries and exits correctly I realised that I was spotting events before the SB's would start messing about with orders and prices (do they really ? or is it just me ?) so my mind is sharper than their mind is entirely valid, I loved them for this fact and this only served to increase my "good trades"

Iam not making comments only with regards to fast markets after news releases, Iam also referring to general messing about with price feed and orders, which some say does not happen, my experience would tell a different story. Infact, it was this messing about that also increased my understanding of the market....

The market itself provides 95% difficulty and the SB's add in an extra 5% obstruction, and that is atleast in the beginning, very tough to overcome. Ofcourse this is just my subjective assessment.

 

[Jack o'Clubs]

Two observations from my corner:

First - all standard SB co's do this to a greater or lesser degree, and in a fast market IG can be very frustrating. CMC is the best of a bad bunch in this regard, IMO, and is actually tolerable if your trading style makes the tax saving more important than being filled at exactly the right level.

Second - as dcarrigan suggests have a look at Futures Betting. You trade direct on the ladder with CME or whichever exchange, but it's wrapped in a 'spreadbet' shell for tax purposes. You pay a bit for the priviledge (ie compared to trading the futures directly through a broker), but you'll have no problems getting in on a trade as long as the market itself has liquidity where you need it.

 

[Oatcake_eater]

Thanks Jack, thats most helpful.

 

[DepthTangent]

Yes I agree GJ. Monkeys talking about 5 min trendlines on FX are displaying a total lack of any knowledge.

I dont trade FX very frequently as my trading style and market understanding is more suited to Index trading, its a whole different ball game to the FX market. The Dow as an example also moves fast around news time as you know. Also, my bank balance can in no way handle a series of mistimed judgements with FX trading due to its trending nature. If I could only calculate what the seed of the trends are made of I will quite happily cross over to FX, getting off topic here.