shortorlong
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am I halucinating?
did the ftse just develop a fractional element?
wonder why
did the ftse just develop a fractional element?
wonder why
Best Thread Capital Spreads
lurkerlurker
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To clarify my earlier post - I don't think they would have an issue with the trades if they were done on fair prices. However, getting in and out so quickly over a number looks like you have a live feed and a fast finger. Also, if you trade frequently, they might (as Simon said in an earlier post) select you for dealer intervention on the basis that you are "overtrading your account". Remember, it is not in their interests to take bets they can't hedge, so they have to be alert to any form of trickery - if you happen to trade in a manner which is perfectly legitmate but might appear to be trying to take advantage of incorrect or lagging prices they may have to err on the side of caution.
Fractionals in the FTSE? I don't like that. Full points please.* I don't like IG doing that either - I know Simon has told us that CS don't bias prices, but I think IG do to an extent, and the fractional spreads makes it a little easier for them.
Regarding biasing - you can see if a firm do this yourself. For example, on the Dow (best to wait until the market is quiet, European open is a good enough time, or overnight) get the CBOT Live Book or another RT DOM, and mentally calculate the mid price average of the best bid and offer. Work out how many points removed the bid and offer at your SB firm are. I have sometimes seen with IG that the bid and offer change from -2/+2 to -1/+3 or -3/+1. Is this biasing? Since the spread still contains the market mid price, I suppose this is within the rules.
* - I can understand the S&P being quoted this way.
Of course, I could have made a mistake and the LIFFE could have added a fractional element to the FTSE, but I doubt it.
Fractionals in the FTSE? I don't like that. Full points please.* I don't like IG doing that either - I know Simon has told us that CS don't bias prices, but I think IG do to an extent, and the fractional spreads makes it a little easier for them.
Regarding biasing - you can see if a firm do this yourself. For example, on the Dow (best to wait until the market is quiet, European open is a good enough time, or overnight) get the CBOT Live Book or another RT DOM, and mentally calculate the mid price average of the best bid and offer. Work out how many points removed the bid and offer at your SB firm are. I have sometimes seen with IG that the bid and offer change from -2/+2 to -1/+3 or -3/+1. Is this biasing? Since the spread still contains the market mid price, I suppose this is within the rules.
* - I can understand the S&P being quoted this way.
Of course, I could have made a mistake and the LIFFE could have added a fractional element to the FTSE, but I doubt it.
I traded quickly at the prices offered and the markets still continued higher afterwards, I only posted to show that their system doesn't allways 'freeze up' at important times.
Anyway, why dont you go and have a stiff drink and relax!
Atilla
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CS prices seem to be about 10 pips off CMCs and CMCs is nearer and quick to follow CBOT price changes. I thought as long as this changes consistently but lagging shouldn't be a problem.
But today, I feel they stole my 30-50 pips. At 1.30+ price shot up. I went well into profit zone and clicked to sell. First one was rejected, price kept rising. I clicked sell again quickly not checking ticket price as I could see the 1 min chart shooting up to to 14060s and second time round my trade was closed at 14008.
I couldn't believe it. There was no time did the charts fall below 14030 and it was around 14044 region as I clicked.
I telephoned them and the explanation from a trader was this.
The ticket price is final as the charts lag the actual ticket price. WELL IF THAT WAS THE CASE THEN THE TICKET PRICE SHOULD HAVE BEEN 14060 OR EVEN14050 BUT NOT 14008.
When you try and explain this the lady has no clue but to repeat what the trader told him that chart prices lag actual ticket prices. HELLOooo ANYBODY IN THERE...
The only positive was a lady answered politely and did call me back. However, I still feel cheated.
In summary, CMCs system is much better and responsive imho. CS is slow and cumbersome and as long as markets are dull and boring and not moving and as you say you are trading at off peak times or something then you are ok.
For fast moving markets or for quick scalping trades, kiss your pips goodbye.
Jbat001
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Hi Simon,
Just thought I'd mention this as a courtesy shout. I only get down to London every now and then, but this weekend was one of those times, and I noticed a Capital Spreads billboard advertisement at Farringdon tube station. Good to see CS advertised in 'the real world' as opposed to online, but the telephone number on the ad was the old one ending "0122" - thought this number was discontinued?
Only reason I mention it is in case someone wanted to give you a shot, tried to phone you and couldn't get through - would be a pity!
Just thought I'd mention this as a courtesy shout. I only get down to London every now and then, but this weekend was one of those times, and I noticed a Capital Spreads billboard advertisement at Farringdon tube station. Good to see CS advertised in 'the real world' as opposed to online, but the telephone number on the ad was the old one ending "0122" - thought this number was discontinued?
Only reason I mention it is in case someone wanted to give you a shot, tried to phone you and couldn't get through - would be a pity!
Crap Buddist
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"Hello, what do you mean Capital Spreads , Delhi Branch,, ? hello ?"
I hope you get a free mug or a T-shirt for that info , of course if I was in charge I'd have to say, yes thank you we are actually aware of it and the issue should of been resolved last tuesday, thanks for the reminder <titter> and i will get back on the blower.
Does he deserve a free t-shirt and mug ? 10 spread free trades maybe ?
Good tradin all
I hope you get a free mug or a T-shirt for that info , of course if I was in charge I'd have to say, yes thank you we are actually aware of it and the issue should of been resolved last tuesday, thanks for the reminder <titter> and i will get back on the blower.
Does he deserve a free t-shirt and mug ? 10 spread free trades maybe ?
Good tradin all
Jbat001
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I hope you get a free mug or a T-shirt for that info , of course if I was in charge I'd have to say, yes thank you we are actually aware of it and the issue should of been resolved last tuesday, thanks for the reminder <titter> and i will get back on the blower.
Does he deserve a free t-shirt and mug ? 10 spread free trades maybe ?
Good tradin all
Lol!
I'm not after any free stuff, but I knew if it was my business, I'd want someone to give me a shout if they spotted anything 'odd' (something vaguely similar happened to me last year).
It's actually publicised with the 0122 number at http://www.capitalspreadspromo.com/learn/ too, but that's probably going a step too far towards the hairsplitting...
Might be good for nothing, but like I said, just a courtesy shout
bond_trader1
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I was stopped out of a forex position on Friday despite my direct market feed saying the market never traded within 10 pips of it.
Going down to the 1m chart I saw price spikes that simply did not mirror the real market action.
E*trade said they would get back to me about this but so far I have heard nothing...
Going down to the 1m chart I saw price spikes that simply did not mirror the real market action.
E*trade said they would get back to me about this but so far I have heard nothing...
Windowsill
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Yes. I find it quite shocking.
Theoretically it should help to see micro movements....No doubt one will get used to it. Problem is, my whole strategy is based on the last two digits!
capitalspreads
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advert / fractional
FTSE has moved to fractional becus our system works out a mid point that is to a decimal point and so we were getting too many complaints about the directional arrows showing up or down moves that did not actually seem to happen... i.e prices moves from 6599.5 (mid) to 6600.5 (mid) and down immediately to 6600 mid . The price display only showed a 1 pip move up but the arrow showed a move down !?
by changing to fractional this removes this problem.
I have to say I dont particularly like it either ! but it should give clients a better price
farringdon.
advert been there for long long time.... obviously nobody else wants the slot.
simon
ps ... re previous comment.. I can assure clients that I am not going anywhere soon.
FTSE has moved to fractional becus our system works out a mid point that is to a decimal point and so we were getting too many complaints about the directional arrows showing up or down moves that did not actually seem to happen... i.e prices moves from 6599.5 (mid) to 6600.5 (mid) and down immediately to 6600 mid . The price display only showed a 1 pip move up but the arrow showed a move down !?
by changing to fractional this removes this problem.
I have to say I dont particularly like it either ! but it should give clients a better price
farringdon.
advert been there for long long time.... obviously nobody else wants the slot.
simon
ps ... re previous comment.. I can assure clients that I am not going anywhere soon.
Last edited:
lurkerlurker
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Pleased to hear that. Could we have your comment on BT1's post?
capitalspreads
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lurker
without a bit more info I cannot really comment
if BT1 would like to mention the time and price then I might be able to have a look. and send in an e-mail to admin so that I can see which account it is etc.
Simon
without a bit more info I cannot really comment
if BT1 would like to mention the time and price then I might be able to have a look. and send in an e-mail to admin so that I can see which account it is etc.
Simon
coolTrader
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Whats with your system...
get your tech guys to truncate the transaction log.... been happening all day
Server Error in '/' Application.
The log file for database 'ASPState' is full. Back up the transaction log for the database to free up some log space.
Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.
Exception Details: System.Data.SqlClient.SqlException: The log file for database 'ASPState' is full. Back up the transaction log for the database to free up some log space.
Source Error:
An unhandled exception was generated during the execution of the current web request. Information regarding the origin and location of the exception can be identified using the exception stack trace below.
Stack Trace:
[SqlException (0x80131904): The log file for database 'ASPState' is full. Back up the transaction log for the database to free up some log space.]
System.Data.SqlClient.SqlConnection.OnError(SqlException exception, Boolean breakConnection) +862234
System.Data.SqlClient.SqlInternalConnection.OnError(SqlException exception, Boolean breakConnection) +739110
System.Data.SqlClient.TdsParser.ThrowExceptionAndWarning(TdsParserStateObject stateObj) +188
System.Data.SqlClient.TdsParser.Run(RunBehavior runBehavior, SqlCommand cmdHandler, SqlDataReader dataStream, BulkCopySimpleResultSet bulkCopyHandler, TdsParserStateObject stateObj) +1956
System.Data.SqlClient.SqlDataReader.ConsumeMetaData() +31
System.Data.SqlClient.SqlDataReader.get_MetaData() +62
System.Data.SqlClient.SqlCommand.FinishExecuteReader(SqlDataReader ds, RunBehavior runBehavior, String resetOptionsString) +297
System.Data.SqlClient.SqlCommand.RunExecuteReaderTds(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, Boolean async) +903
System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method, DbAsyncResult result) +132
System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method) +32
System.Data.SqlClient.SqlCommand.ExecuteReader(CommandBehavior behavior, String method) +122
System.Data.SqlClient.SqlCommand.ExecuteReader() +84
System.Web.SessionState.SqlSessionStateStore.DoGet(HttpContext context, String id, Boolean getExclusive, Boolean& locked, TimeSpan& lockAge, Object& lockId, SessionStateActions& actionFlags) +482
[HttpException (0x80004005): Unable to connect to SQL Server session database.]
System.Web.SessionState.SqlSessionStateStore.ThrowSqlConnectionException(SqlConnection conn, Exception e) +227
System.Web.SessionState.SqlSessionStateStore.DoGet(HttpContext context, String id, Boolean getExclusive, Boolean& locked, TimeSpan& lockAge, Object& lockId, SessionStateActions& actionFlags) +592
System.Web.SessionState.SqlSessionStateStore.GetItemExclusive(HttpContext context, String id, Boolean& locked, TimeSpan& lockAge, Object& lockId, SessionStateActions& actionFlags) +50
System.Web.SessionState.SessionStateModule.GetSessionStateItem() +114
System.Web.SessionState.SessionStateModule.BeginAcquireState(Object source, EventArgs e, AsyncCallback cb, Object extraData) +1040
System.Web.AsyncEventExecutionStep.System.Web.HttpApplication.IExecutionStep.Execute() +90
System.Web.HttpApplication.ExecuteStep(IExecutionStep step, Boolean& completedSynchronously) +155
Version Information: Microsoft .NET Framework Version:2.0.50727.832; ASP.NET Version:2.0.50727.832
get your tech guys to truncate the transaction log.... been happening all day
Server Error in '/' Application.
The log file for database 'ASPState' is full. Back up the transaction log for the database to free up some log space.
Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.
Exception Details: System.Data.SqlClient.SqlException: The log file for database 'ASPState' is full. Back up the transaction log for the database to free up some log space.
Source Error:
An unhandled exception was generated during the execution of the current web request. Information regarding the origin and location of the exception can be identified using the exception stack trace below.
Stack Trace:
[SqlException (0x80131904): The log file for database 'ASPState' is full. Back up the transaction log for the database to free up some log space.]
System.Data.SqlClient.SqlConnection.OnError(SqlException exception, Boolean breakConnection) +862234
System.Data.SqlClient.SqlInternalConnection.OnError(SqlException exception, Boolean breakConnection) +739110
System.Data.SqlClient.TdsParser.ThrowExceptionAndWarning(TdsParserStateObject stateObj) +188
System.Data.SqlClient.TdsParser.Run(RunBehavior runBehavior, SqlCommand cmdHandler, SqlDataReader dataStream, BulkCopySimpleResultSet bulkCopyHandler, TdsParserStateObject stateObj) +1956
System.Data.SqlClient.SqlDataReader.ConsumeMetaData() +31
System.Data.SqlClient.SqlDataReader.get_MetaData() +62
System.Data.SqlClient.SqlCommand.FinishExecuteReader(SqlDataReader ds, RunBehavior runBehavior, String resetOptionsString) +297
System.Data.SqlClient.SqlCommand.RunExecuteReaderTds(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, Boolean async) +903
System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method, DbAsyncResult result) +132
System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method) +32
System.Data.SqlClient.SqlCommand.ExecuteReader(CommandBehavior behavior, String method) +122
System.Data.SqlClient.SqlCommand.ExecuteReader() +84
System.Web.SessionState.SqlSessionStateStore.DoGet(HttpContext context, String id, Boolean getExclusive, Boolean& locked, TimeSpan& lockAge, Object& lockId, SessionStateActions& actionFlags) +482
[HttpException (0x80004005): Unable to connect to SQL Server session database.]
System.Web.SessionState.SqlSessionStateStore.ThrowSqlConnectionException(SqlConnection conn, Exception e) +227
System.Web.SessionState.SqlSessionStateStore.DoGet(HttpContext context, String id, Boolean getExclusive, Boolean& locked, TimeSpan& lockAge, Object& lockId, SessionStateActions& actionFlags) +592
System.Web.SessionState.SqlSessionStateStore.GetItemExclusive(HttpContext context, String id, Boolean& locked, TimeSpan& lockAge, Object& lockId, SessionStateActions& actionFlags) +50
System.Web.SessionState.SessionStateModule.GetSessionStateItem() +114
System.Web.SessionState.SessionStateModule.BeginAcquireState(Object source, EventArgs e, AsyncCallback cb, Object extraData) +1040
System.Web.AsyncEventExecutionStep.System.Web.HttpApplication.IExecutionStep.Execute() +90
System.Web.HttpApplication.ExecuteStep(IExecutionStep step, Boolean& completedSynchronously) +155
Version Information: Microsoft .NET Framework Version:2.0.50727.832; ASP.NET Version:2.0.50727.832
coolTrader
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price does not match the market
Simon,
I get this error while trying to exit the markets... and the price is fixed... there by not allowing me to close my trade.
Simon,
I get this error while trying to exit the markets... and the price is fixed... there by not allowing me to close my trade.
Last edited:
bond_trader1
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Hi,
I just wanted to follow this up incase anyone views E*Trade in a negative light on the strength of this post. The facts are correct - I was stopped out due to a spike in a place where the market never traded and despite telling me they would, E*trade didn't call me back. HOWEVER, I did not follow it up as later on the market did move down and I would have been stopped out anyway. Also, E*trade have been good to me so I give them the benefit of the doubt.
BT1
Crap Buddist
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Who's market ? Is the spreadbet company stating with this ,their price (the spreadbet companies) Does(should reflect the underlying) match the market. I thought they had disclaimers stating.
"Our prices may NOT reflect the underlying "
which leads to the point...... Who's & what price is it anyway?
davecrom01
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I've reached a major milestone.
Ladies & Gentlemen,
I have reached a milestone. No, not my first winning trade. No, not my first wipe out, nor my first million in the bank.
I have, just now, at 2.47am in the morning, finally finished reading this thread. It has taken me nearly 17 days with only small breaks for the Rugby World Cup, Beer, and shorting the USD/CAD.
I hope to contribute at some point in time, but I would just like to say how useful, insightful, humourous, intelligent (and sometimes infuriating) it has been. So many of you have been here from the start and whether you can see it or not you have helped shape the look and feel of CS over the passage of time. As a CS client I thank you all.
As for Simon, I know it has been said many times in this thread already - but your contributions are a wonderful example of how to stay in touch and educate the rest of us as to what happens behind the scenes.
I feel like Dorothy must have done when the curtain is pulled back to reveal the Wizard of Oz.
And now? Time to sleep.
Thank you all, once again.
Dave
Ladies & Gentlemen,
I have reached a milestone. No, not my first winning trade. No, not my first wipe out, nor my first million in the bank.
I have, just now, at 2.47am in the morning, finally finished reading this thread. It has taken me nearly 17 days with only small breaks for the Rugby World Cup, Beer, and shorting the USD/CAD.
I hope to contribute at some point in time, but I would just like to say how useful, insightful, humourous, intelligent (and sometimes infuriating) it has been. So many of you have been here from the start and whether you can see it or not you have helped shape the look and feel of CS over the passage of time. As a CS client I thank you all.
As for Simon, I know it has been said many times in this thread already - but your contributions are a wonderful example of how to stay in touch and educate the rest of us as to what happens behind the scenes.
I feel like Dorothy must have done when the curtain is pulled back to reveal the Wizard of Oz.
And now? Time to sleep.
Thank you all, once again.
Dave
Guaranteed stop
Simon,
about message 2768 (a year or so back) you apparently poo poohed (shades of Blackadder) guaranteed stops, suggesting they'd result in excessive extra spreads over time, and were a bit gimmicky. and a 9/11 doesn't come along very often. CS still doesn't offer them, could I ask you to reconsider?
Why:
1) You aren't open 24/7, therefore if I see the Dow future nosediving at 11pm I can't exit when I want. Until you allow people to trade at 3am it is unreasonable (IMO) to expect them to watch a market tumble for 17 hours unable to exit it. It is to cover this uncommon experience that the guaranteed stop is to cover. Sure I might be short and make out like a bandit - but sensible trading involves ensuring 'one off' events can't wipe the account out. Guaranteed stops ensure that I can limit my risk.
2) The extra spreads, at least those set by other companies, may amount to a fair amount over time - they still only amount to a point or two 'insurance' at the time, what's the problem with letting the customer decide if the premium is one they wish to pay?
There is a difference between being able to exit a market WHILE it tumbles, and being forced to exit it at the following open - as a customer I'd much prefer to pay a premium to ensure that I'm not locked into a Kamikaze dive.
Frankly I don't understand why these aren't available - in a nutshell whether you think they are a good idea or not (from the customer's viewpoint) is immaterial, it is up to the customer to decide how important this facility might fit in with their trading...
Dave
Simon,
about message 2768 (a year or so back) you apparently poo poohed (shades of Blackadder) guaranteed stops, suggesting they'd result in excessive extra spreads over time, and were a bit gimmicky. and a 9/11 doesn't come along very often. CS still doesn't offer them, could I ask you to reconsider?
Why:
1) You aren't open 24/7, therefore if I see the Dow future nosediving at 11pm I can't exit when I want. Until you allow people to trade at 3am it is unreasonable (IMO) to expect them to watch a market tumble for 17 hours unable to exit it. It is to cover this uncommon experience that the guaranteed stop is to cover. Sure I might be short and make out like a bandit - but sensible trading involves ensuring 'one off' events can't wipe the account out. Guaranteed stops ensure that I can limit my risk.
2) The extra spreads, at least those set by other companies, may amount to a fair amount over time - they still only amount to a point or two 'insurance' at the time, what's the problem with letting the customer decide if the premium is one they wish to pay?
There is a difference between being able to exit a market WHILE it tumbles, and being forced to exit it at the following open - as a customer I'd much prefer to pay a premium to ensure that I'm not locked into a Kamikaze dive.
Frankly I don't understand why these aren't available - in a nutshell whether you think they are a good idea or not (from the customer's viewpoint) is immaterial, it is up to the customer to decide how important this facility might fit in with their trading...
Dave
capitalspreads
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guarateed stops
at the moment there are no plans to add guaranteed stops to markets and whilst I accept that the US markets do trade in the small hours you must remember that the closest you would be allowed to place the guaranteed stop loss would be something like 50 points in the dow and 70 pips in the S&P. for the very, very few times that you would be saved a few pips the cost would outweigh this. We are planning extended trading on many of our markets (as per the FX 24hr markets) and will probably add a dow and S&P service to this, this will negate the requirement for guaranteed stops in these markets.
Simon
at the moment there are no plans to add guaranteed stops to markets and whilst I accept that the US markets do trade in the small hours you must remember that the closest you would be allowed to place the guaranteed stop loss would be something like 50 points in the dow and 70 pips in the S&P. for the very, very few times that you would be saved a few pips the cost would outweigh this. We are planning extended trading on many of our markets (as per the FX 24hr markets) and will probably add a dow and S&P service to this, this will negate the requirement for guaranteed stops in these markets.
Simon
