Best Thread Capital Spreads

[Vorbis]

I've just opened an account with CS after using Cantor Index for a few months.

The most annoying thing with Cantor is that some of my open bets will go "phone/view only" and I'm unable to even adjust my stoploss.

Can anyone tell me why they do this? ( I E-mailed them a couple of times but they ignored me ).
Most importantly, do CS do this?

- Vorbis.

 

[c6ackp]

Hi Vorbis

I've not used Cantor, but If I recall correctly, on the CS platform, you can still access/modify your stop loss regardless of "phone only" status, so shouldn't be a prob...

 

[mombasa]

Well, just had my first issue with CS. Was short on EUR with 45 pip profit and a stoploss 20 pips away. market just reversed and my stop wasn't filled - I closed it manually for 4 pip profit.

So, what's the point of a stoploss then?

Not happy. Think I'll be looking at IGIndex and/or Fins again.

 

[capitalspreads]

mombasa

please hold positions over major numbers again with IG and Fins with a stop 20 pips away. I am sure that they will completely ignore a fifty point move in one second flat and fill you at the level of your choice immediately.

the reason that deals are slipped is that if we did not do so everybody would just wait for a major number (non farm or in this case the quarterly GDP numbers) and place an order as close as possible on both sides in the knowledge that on any move they would be filled and take an immediate profit with absolutly no risk. We cannot put that type of order in the real market so we dont allow our clients to do it with us.

I might also mention that in my commentary this morning (on the home page) I specifically mentioned these figures and the fact that it would be wise to be flat over them particulary in currencies.

Simon

 

[fxmarkets]

Well, just had my first issue with CS. Was short on EUR with 45 pip profit and a stoploss 20 pips away. market just reversed and my stop wasn't filled - I closed it manually for 4 pip profit.

So, what's the point of a stoploss then?

Not happy. Think I'll be looking at IGIndex and/or Fins again.

hmmm, bad luck mate, checking on my quotes it went from 1.2171 to 1.2186 in 10 seconds, the next 10 seconds from 1.2186 to 1.2200 you then had a full minute for trades circa quotes 1.2197 - 1.2204

so worst case you could of been cleared on the second 10 seconds. down to speed of platforms./ quality of service.

 

[mombasa]

Simon,

Was depending on your real platform to act like your demo so that's why I was rather upset
From now on, will close positions before any major news - lesson learnt.

Actually, IG do offer guranteed stops on their Control Risk trades.

Ah well, at least it wasn't a loss. Will stick with CS for the time being.

Rgds

BTW, as FX says, th move was over quite a few seconds - hell, I managed to close it so why couldn't your system do it for me?

 

[MidasTouch1]

Simon,

Was depending on your real platform to act like your demo so that's why I was rather upset
From now on, will close positions before any major news - lesson learnt.

Actually, IG do offer guranteed stops on their Control Risk trades.

Ah well, at least it wasn't a loss. Will stick with CS for the time being.

Rgds

BTW, as FX says, th move was over quite a few seconds - hell, I managed to close it so why couldn't your system do it for me?

This happened to me and many others before, as I said in my previous post, the stop loss is filled randomly by CS to their favour, and it's all happening again and again to new naive spreads-betters. It's only the beginning, there are worse to come, e.g, delayed executions etc. Get away from CS to avoid further unnecessary loss.

 

[JonnyT]

Here's what a really broker did....

This happened to me and many others before, as I said in my previous post, the stop loss is filled randomly by CS to their favour, and it's all happening again and again to new naive spreads-betters. It's only the beginning, there are worse to come, e.g, delayed executions etc. Get away from CS to avoid further unnecessary loss.

Here's what IBs system did. There was a jump from 7788 to 7819 i.e. 31 pips. IB would have filled a stop around this level.

JonnyT

 

[capitalspreads]

jonnyT

nice to see that our clients actually got better stop fills than an IB. We started filling stops at 1.7815. and anyone who waited to get their fills would have been done from this level. (but if you traded out of the position at a worse price than this therefore cancelling the stop then give us a call).

midas

please put some specific data up as opposed to random slanging.... if we were doing this why don't you ring us up at the time? Are you talking about slippage overnight? I can understand frustration at deal rejection but the order function is very clear and should not cause the kind of problems you seem to be suggesting as market records and our audit trails are free to every client who wishes to inspect them (that is inspect his/her own). If we were doing as you suggest you would have a legitimate cause for complaint to the financial omnbudsman as would innumerable other people. But as this is not the case then I have to assume that you are blaming us for your bad trading decisions.

Sorry for the abruptness of the last comment but ....sometimes .....

Simon

 

[BroadSword]

In my view there are two main things being talked about here....

Firstly, pleople complaining that the syntheic SB market made by the SB companies / Capital spreads dont honour non-guaranteed stops in very fast or gapping markets...Simon is correct in saying that you wouldn't get the fill in the underlying market in the futures or interbank, so you can't get them on SB. What ever you think about SB in general or CS specifically, this is just common sense, and to argue otherwise (IMHO) is merely to illustrate a lack of understanding.

The other issue, where I just can't agree with Simon, is the comment he made about 24hr forex recently, not being a disadvantage. There is no way on Earth, for a DISCIPLINED tested trading system, that the risk of overnight slippage will not be a problem...to suggest that overnight closure can be of benefit is, I am afraid, an absurdity.

 

[capitalspreads]

broadsword

i apologise in that i may have not made myself clear.

Not being 24 hours is definately a disadvantage to a disciplined trading program which is why we are looking at going to 24 hrs. What I meant was that it is not an advantage for us as we are under the same constraints as our clients. If we go home with the clients long cable to our maximum risk level and the market opens the next day 80 points higher we will lose money. If the market gaps lower we will make money. In effect FX on our platform is turned into the same as an index or share quote where what occurs overnight is deemed not to have happened and we start off from the new level the next morning(as with the nikkei which we quote against the CME chicago future even though all of the action actually occurs in the small hours)

Simon

 

[fxmarkets]

A decent Market maker to trade through.

Heres what you get with a decent auto market maker, Ive no doubt your stop would of been covered in the first 10 seconds.

 

[mickandpete]

As I have stated on other threads I traded FX interbank from 1970-85
I would like to try to bring some reality to this thread (not neccessarily in defence of CS with whom I have had an account for the last 6 months) but as a REALITY CHECK for all those who dont face it.
1 At the bottom of CS (and all other??) quote screen is a very important message
"ALL PRICES QUOTED ABOVE ARE INDICITATIVE"
Now as much as you may hate it this means what it says
2 If you enter the dealing ticket this comes above this warning
3 CS ( and other SB firms) allow small retail customers to enter a market at WHOLESALE spreads
(Do not belittle or underestimate what is offered to the small trader)
4 As much as some traders do not believe MARKETS GAP (there is gap between quotes)
5 To expect these gaps NOT to appear around important economic/news numbers is naivety.
6A calendar of these events are available all over the web
7 No matter how fast your set up and your reaction time there is ALLWAYS someone faster than YOU (If you are not filled on a wrong price why are you surprised??)
8 A BAD WORKMAN BLAMES HIS TOOLS
9 Do not believe everything you might read in a book
PS From a purely personnal point of view.I have had some horrendous experiences of being stopped out in a thin Asian market only for the market to reestablish its self on entry to Europe.The lack of 24 hour market at CS I find benefical.

 

[fxmarkets]

hmmm, very good point micknpete.. if they are indicative via SB then no more need be said.
I just thought that if they are going auto order fills, then its the processors reaction time and not a humans .

and full credit to CS for discussing continually.

 

[BroadSword]

broadsword

i apologise in that i may have not made myself clear.

Not being 24 hours is definately a disadvantage to a disciplined trading program which is why we are looking at going to 24 hrs. What I meant was that it is not an advantage for us as we are under the same constraints as our clients. If we go home with the clients long cable to our maximum risk level and the market opens the next day 80 points higher we will lose money. If the market gaps lower we will make money. In effect FX on our platform is turned into the same as an index or share quote where what occurs overnight is deemed not to have happened and we start off from the new level the next morning(as with the nikkei which we quote against the CME chicago future even though all of the action actually occurs in the small hours)

Simon

Thank you Simon, but you could still trade in the underlying market to hedge your book in your closed hours, your clients cannot (through you I mean).

I appreciate that FX is your Achilles heel presently, and I know you discourage scalpers (many of whom seem to have execution problems with you if what is said here is to be believed), but you don't compete on the swing trading front either, at the moment, except for very long term position trades, simply because of the risk of overnight slippage...however as you say, firstly you're on to this, and secondly, (and its good of you to admit it) for dedicated FX only, there are better providers...eg Oanda = very tight spreads (as good / better than yours), instant 24 hour computer exection, perfect fills...

 

[capitalspreads]

broadsword et als

I know oanda are good but 'perfect fills' ?

as you say dedicated fx marketmakers wll always be better than us because we have to focus on a massive array of markets and offer them permanently on line rather than just a small selection of FX markets.

from mikeandpete's comments, aside from saying thanks .. I should also point out that he is quite right when he says that not being 24 hour probably has as its benefits as well. As being stopped out on an extension move at 3 in the morning because of illiquidity in the GBP/CAD (or some such) is bound to hurt !! Especially when you come in and the market appears unchanged from last nights close.

Simon

 

[Jyde]

from mikeandpete's comments, aside from saying thanks .. I should also point out that he is quite right when he says that not being 24 hour probably has as its benefits as well. As being stopped out on an extension move at 3 in the morning because of illiquidity in the GBP/CAD (or some such) is bound to hurt !! Especially when you come in and the market appears unchanged from last nights close.

Nonsense. That can easily be accomplished with a bigger stop loss distance, if you are so inclined. Personally, I would rather have a tight SL that is actually actioned and then reenter, than watching the money fizzle out without any influence.
You might as well argue that closing shop every other week will be of benefit to some as they will not exit their winners too early...

 

[capitalspreads]

jyde

it was not meant as an overall comment but just as an indication that some people like things one way and others another. Where you would prefer to put your stop miles away or place them close and risk a small blip others may not. When we eventually go to 24 hr I was just saying that many clients, used to the old way, will probably be annoyed when their stops get activated in the middle of the night when using the old method they would not.

As I say, over and over, on this thread some clients prefer one form of action and others another and not just on 24 FX but also in other areas where a degree of judgement and therefore policy must be used.

Simon

ps Mind you if we did close for alternate days it would not harm some clients as at least they could not then trade and thus not lose money !!!

 

[BroadSword]

broadsword et als

I know oanda are good but 'perfect fills' ?

Yes - have you tried them? I'm not taking about gapping over, say, NFP numbers, where you would expect slippage, as in the underlying (this is something I completely agree with you about, btw, how people ever expect perfect fills in a synthetic market when the underlying gaps 50 points in 0.1 seconds, I don't know), but in anyother conditions, fills are instant and dead on

as you say dedicated fx marketmakers wll always be better than us because we have to focus on a massive array of markets and offer them permanently on line rather than just a small selection of FX markets.

That's to be expected and I'm certainly not criticising for that....

from mikeandpete's comments, aside from saying thanks .. I should also point out that he is quite right when he says that not being 24 hour probably has as its benefits as well. As being stopped out on an extension move at 3 in the morning because of illiquidity in the GBP/CAD (or some such) is bound to hurt !! Especially when you come in and the market appears unchanged from last nights close..

Of course there will be occasions when it would be beneficial, but the risk of massive over night slippage would probably outweigh the occasional benefit - what about some of the trending action on cable recently in the asian session. I am sure that most traders running a solid, proven strat would find the lack of 24 hr more of a hindrance...still, as you say, you're working on it!

Regards,

 

[alf25]

hi simon
can you change open hour on ftse100 chart. your charting tool it begins at 7,00 but the market opens at 8,00. so there is time gap and it deform chart indicators. and did you looked at CCI indicator?


thank you