Best Thread Capital Spreads

[Hoggums]

chopper

sorry ... we have asked for some idea from our IT developers as to how this could be done. The first noise I got was the same sound you get from a car mechanic when you ask whats wrong with your car and how much it will cost to mend it !! That kind of indrawn breath just before a large number is mentioned !!

We are continuing to add functionality but this one is (i must admit ) a little way down the line.

Simon

As mentioned before, top of my list of improvements would be the ability to enter bet sizes down to pence. i.e. keep the minimum bet size at £1 but allow bets of £1.25 or £2.67 for example. Being forced to bet in multiples of one pound only means I can't use money management effectively.

Oh and 24hr FX trading of course.

 

[FXSCALPER2]

As mentioned before, top of my list of improvements would be the ability to enter bet sizes down to pence. i.e. keep the minimum bet size at £1 but allow bets of £1.25 or £2.67 for example. Being forced to bet in multiples of one pound only means I can't use money management effectively.

Oh and 24hr FX trading of course.

Absolutely! I would trade exclusively with CS if they allowed that and I know a lot of people who would. When someone says what you said, I know they know what they are talking about. This is the NUMBER ONE REASON why making money trading is hard. We all start thinking we are gonna make big money, but what matters is being able to compound your profits however small they are and being able to reduce your bet size after each and every loss. This is HUGE!

 

[talkingcents]

I agree that being able to place bets at a min of £1 a point but being able to place amounts above that in smaller increments than £1 would be a really useful improvement (if 1p not practical how abot 10p, 25p etc)
Also a wider range of rolling bets and I could ditch my hated CMC account!!!
What can you do Simon?

 

[FXSCALPER2]

I agree that being able to place bets at a min of £1 a point but being able to place amounts above that in smaller increments than £1 would be a really useful improvement (if 1p not practical how abot 10p, 25p etc)
Also a wider range of rolling bets and I could ditch my hated CMC account!!!
What can you do Simon?

I can see CMC being deserted once/if Simon gets the overnight position holding and smaller sizes functionality up an running.

 

[john88888]

As mentioned before, top of my list of improvements would be the ability to enter bet sizes down to pence. i.e. keep the minimum bet size at £1 but allow bets of £1.25 or £2.67 for example. Being forced to bet in multiples of one pound only means I can't use money management effectively.

Oh and 24hr FX trading of course.[/QUOTE]

Hi, just thought I'd add my pearls of wisdom

You have always been able to do this with FS and they've now gone 24 hours - not that I spend ALL night trading!

 

[FXSCALPER2]

As mentioned before, top of my list of improvements would be the ability to enter bet sizes down to pence. i.e. keep the minimum bet size at £1 but allow bets of £1.25 or £2.67 for example. Being forced to bet in multiples of one pound only means I can't use money management effectively.

Oh and 24hr FX trading of course.[/QUOTE]

Hi, just thought I'd add my pearls of wisdom

You have always been able to do this with FS and they've now gone 24 hours - not that I spend ALL night trading!

Oh really, I am going with them right now! Cheers man.

 

[chopper]

chopper

sorry ... we have asked for some idea from our IT developers as to how this could be done. The first noise I got was the same sound you get from a car mechanic when you ask whats wrong with your car and how much it will cost to mend it !! That kind of indrawn breath just before a large number is mentioned !!

We are continuing to add functionality but this one is (i must admit ) a little way down the line.

Simon

Cheers for the reply - and thanks for the honesty. I can appreciate that this may not be an easy bit of functionality to include in the platform (I develop software myself). I do think that this feature would be invaluable for many people like myself who are unable to monitor prices throughout the day due to work commitments. Yes I know many people will say "shouldn't trade if not able to see screen 24/7" but it would be nice to stick an opening order on an index and let a trailing order follow it up.

 

[Phil Mibbutz]

Call me a cynic, but SB companies are hardly likely to put much effort into providing something that will almost certainly reduce their profits!

 

[hallto]

Trailing stops are already out there for spread betting platforms. Global Trader (www.gt247.com) offer such functionality and CityIndex just sent round new t+c's which talk of trailing stops also, when I called them nobody knew about it, but I guess they are in development. (http://www.cityindex.co.uk/files/Spread Betting Terms and Conditions January 2006.pdf). hope this helps.

 

[Visaria]

Hi Simon,

May I ask why you have decided to discontinue the daily cash futures?

Cheers

visaria

 

[fudgestain]

Hi Simon,

May I ask why you have decided to discontinue the daily cash futures?

Cheers

visaria

Presumably they weren't making any money out of it or may be even they were making losses with it. Why? Their dealing model and mechanism may have been faulty or they may have had some big unhedged players taking out consistent big time winnings. Best thing for them would be to close those particular market facilities for a while .. if not for good.

 

[fudgestain]

Or is it that they distinguish between cash daily indices and rolling daily indices and are just killing the cash version (one day only with no carry over)?

 

[capitalspreads]

visaria and fudgestain

we have closed them down because we get about one trade every three days in the FTSE and none in the dow and dax whereas 99.9% of business is done on the rolling daily bets nowadays.

because so little business was being done in the markets it was felt that the extra man hours required to ensure that they were in line with the rest of the market made them too onerous for any possible profitable return.

In reality they are completely fictional markets and rely too heavily on whatever the market makers do in the auction after hours. And we are fed up with complaints about a sudden shift in the settlement price at 16.36 six minutes after the market has closed.

umm we are only closing the daily 'cash' market not the daily 'future' market

simon

 

[Visaria]

So you still have the daily ftse future and daily dow future? That's fine with me.

 

[pboi]

they do, but they move the same amount each day as the daily ..which confused me. I believe the daily price is made up party from futures...so I do wonder what the difference between daily and futures is aside from the number..maybe less volatility, but I for one havent been able to see it on the CS platform.

 

[Jyde]

they do, but they move the same amount each day as the daily ..which confused me. I believe the daily price is made up party from futures...so I do wonder what the difference between daily and futures is aside from the number..maybe less volatility, but I for one havent been able to see it on the CS platform.

To do with the fair value. It is set before they open, and then they basically follow the movements in the futures.

 

[pboi]

so what is the point of futures, if daily and futures move the same amount over the course of a day? I really dont understand :/

 

[Visaria]

so what is the point of futures, if daily and futures move the same amount over the course of a day? I really dont understand :/

The daily cash instrument is priced as the daily futures contract minus a premium (or sometimes plus a discount). The premium is determined by the SB and can change throughout the day. There were specific reasons why I used to trade them but for most traders, the daily futures contracts are far better in that their prices did not rely on the whim of the SBs and orders such as stops etc could be worked on the underlying market and not on the made up prices of the SB i.e. with the cash instruments you are the mercy of the SB as to when and when you are filled on an order whereas with the futures you are (or should be) filled according to the prices of the underlying market.

They don't change the same amount by the end of the day: the cash instrument is settled at the settlement price of the cash index e.g. FTSE 100 and the futures instrument is settled at the futures settlement price for that day e.g. FTSE-100 futures on LIFFE. Obviously the settlement prices are unlikely to be the same.

 

[pboi]

then why does capital spreads show +22 on Daily and Future FTSE as movement for the day?

This is what confuzzled me

 

[Visaria]

then why does capital spreads show +22 on Daily and Future FTSE as movement for the day?

This is what confuzzled me

No idea. However, since CS no longer do cash, who cares?