Trader7600
Newbie
- Messages
- 7
- Likes
- 0
gle101 said:
Today on FTSE Index stop loss failed to activate, had to exit by entering the reverse trade.
Legion said:
Fair - 20 pip gap on cable at 1:30. Revision comes out 40 pip gap 10 mins later. Cable hits a high then profit taking. Paulson talks at 16:30 and cable collapses 100 pips. Where is the fairness in this? This has been an utterly bonkers day! You wonder why with stops going off left right and centre!
It was an interesting IX investor show for FX traders it is really good to see the amount of interest around...
MarvinS said:
Not on my platform, you of course had to be quick, but entires for the swift where there for a few seconds. And seconds count . There was another post re capitalspreads and stops, I checked my chart re stops on cable @ 1.9646 to 59,59 the price being executed by the bookie (some 13 points beyond several other firms) approx. extra cost to client £2000.00 but other companies closing at the clients 46, it traded 46-58 in 5 seconds, so maybe if this is the price that clients of bookies face ie a lag and reliability on dealable/executable prices then so be it, but with some firms the clients preferred price (being stopped @ 46 was actioned.
Customers to way up pros and cons as always, but I still wouldnt call todays market as balistic. the collapse of cable 100 points you mentioned didnt gap 100 south, totally dealable if you look at it and totally fair.
if the bookies lag 2-5 seconds then bookie slippage will always be around but through other firms this can be a non factor to a trader. Important? for some as highlighted today, yes.
Cheers Marvin all the best.
Legion said:
Absolutely correct the 100 pip drop after Paulson was not in a straight line 100 pip drop, in fact WS filled clients at very resonable levels. Listen if you believe you have been wrongly filled on any position we will be happy to discuss and either email off a time and sales report from bloomberg or reuters. I realise clients have a number of data suppliers. Going back to the point of proving a fill - if you can also prove a print with a credible data provider then please do. WS is a growing company we are not in the position to abuse clients on fills. Again going back to the point we are a 1 pip spread FX/ Index spread betting company, take what you can! But do not think you can have a jolly. Cap Spreads/ IG/ Finspreads/ CMC are the same on 2 pips or 3 ticks in addition to gap throughs. Hand on heart - i have never witnessed a SB/FXcompany that was more willing to fill clients as accurate to the 1 pip/ market price as possible.
Happy trading!
Would you suggest an Automatic stop/ limit system even after a figure? Come on this would be Insane, clients would leave a stop 5 pips away and expect a fill at 5 pips on an auto stop system. FX dealers who trade with FXCM/ IFX/ IG are realising they are getting a non guarenteed fill with gap throughs alot worse than WS give.
Having been at the FX show today i realised one thing, traders are more sensitive to bad fills and mini spikes that knock you out for no reason. This maybe more relevant to spot/ cash traders! It is time you made your point clear and traded with WS...
1 pip spreads or dealing 4 free, well exactly?
Best of luck
Marvin
Having been at the FX show today i realised one thing, traders are more sensitive to bad fills and mini spikes that knock you out for no reason. This maybe more relevant to spot/ cash traders! It is time you made your point clear and traded with WS...
1 pip spreads or dealing 4 free, well exactly?
Best of luck
Marvin
In answer - www.ixspreads.com - is a trading name of WS. That is for all those that have been to the IX (information Exchange). Or www.alpeshpatelspreads.com seminars!
plug plug plug....
plug plug plug....
I want to thank you Marvin, now that you are leaving for a new step in you career, for all the contributions you have made to this thread, not to forget the old thread as well. It is always very interesting and rewarding to have the company representive partaking in the discussion as you have done. I hope that your succcessor at Worldspreads will be willing to contribute in the same way, and help to broaden the understanding between the trader and the spread betting company.MarvinS said:
Good luck with your new job in Hong Kong. Merry Christmas and a giving, rewarding and a very Happy New Year!
stevespray
Experienced member
- Messages
- 1,289
- Likes
- 156
MarvinS said:
Marvin...
A point well made. The fact is that places like ebay are a wash with systems which are all based on the situation which you set out. Most require you to enter opposite tight stop loss orders in either the same or closely correlated markets. The profit comes when hopefully your broker fills you at your triggered stop level without gapping you. It's all pretty simple and predictable stuff.
The fact is that if you offer such tight spreads then there will always be people looking for ways to take advantage of your system. It's hard to determine whether this is fair or not. Given whats on offer I would suggest that the 'robustness' of a firms dealing platform is down to the firm rather than the firm relying on the customer to 'take things easy'. That as an aside, surely its in the interest of a firm that customers find and test potential weakness as that is the only way you've improve your platform (from your perspective) and therefore your overall service as a whole.
Steve.
Yes I agree, traders are always looking for a good deal. I believe that the traders' first objective is to make a good trade, based on his/her trading strategy, in combination with the known facts of the system. S/he is not always out to take advantage (weakness) of a system as these weaknesses are only of a temporary character, and one cannot count on them being around too long. What is important in the long run, especially concerning SB's, is to know where one stands, a stable system that doesn't change negatively over time as one progresses in trading on the platform. A traders goal is to be on the winning side, on a constant basis, and when reaching this goal, the services provided by the SB should be just as stable as when s/he was struggling to reach the target set out.stevespray said:
stevespray said:
Steve,
Exactly - It still seems that clients expect not to be gapped up on orders or trades over a figure. That would be great but it just doesn't work like that in the financial markets.
Point taken on the 'robustness' of a firms system and dealing platform. In fact i would say any firm offering a 1 pip spread and having had 21,265 in Sterling Dollar trades alone, in a months trading! Shows that our system is robust enough. Of course every system has potential weakness/ strains/ issues and yes to learn from these is the only way to be dynamicly ahead of the rest.
Thanks
Marvin
Hi Marvin,MarvinS said:
Yes, I think what most traders want is a stable system, that performs as close as possible to that of the DMA. This, along with minimal intervention by the dealers. If one expect a SB to execute while the "real" market gaps, I agree, that is just wishful thinking. At the same time if the "real" market runs through orders, one expects them to be executed as soon as the targets are being hit. However, there can be a problem here, during important news releases with huge volatile movement, with expectation of requote, can one depend on WS to execute orders (stop loss and others) if if there is no gap?
Refer to dealer...
I placed a couple of trades yesterday and it was on refer to dealer and I thought it may be a problem. Same this morning so I rang and was told my account was now on refer to dealer to ensure I get the correct price (I think they mean they get the correct price - as I was happy with the price I was getting).
Anyone else on refer to dealer? I am not on refer to dealer at IG or Capital.
I placed a couple of trades yesterday and it was on refer to dealer and I thought it may be a problem. Same this morning so I rang and was told my account was now on refer to dealer to ensure I get the correct price (I think they mean they get the correct price - as I was happy with the price I was getting).
Anyone else on refer to dealer? I am not on refer to dealer at IG or Capital.
Yes, it seems that I have also been placed on some kind of dealer intervention. I get this message,qmpma1 said:
"Our dealers have checked your price
and accepted your request to trade.
Please check your open bets and/or
account history for information to see
the result."
Usually the trade goes through after a second or so, but at times I get a requote. It is now up to Worldspreads to prove that this is a temporary state, and instant execution will be back shortly. If there is some kind of problem with the speed of the feed I understand this sudden dealer intervention, otherwise Worldspreads should live up to the high expectations set up by me and others.
Last edited:
Really? Just to check it out I made a trade with them, buying EUR/USD. It took 6 seconds to buy the position, it took 8 seconds to close the position. I wouldn't call that instant execution, at least not as I see it.Zenda said:They do not for me -
Similar threads
- Black Swan
- Spread Betting & CFDs
