tar
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But most of your clients r losers ( 80 % ) , the important thing longs offset shorts in your order book and if there is more longs or shorts u use the market to offset such positions .
Best Thread Capital Spreads
Simon must be grinning.
Even he must think you go to far, ha ha.We haven't gone anywhere. Started from sympathising with allowing discrimination and when you've reached the point where you just say they will spot you so its not a problem it just demonstrates why discrimination shouldn't be against the rules.Simon must be grinning.
I've no problem with Simon grinning. I have no illusions but would hope that as its obviously in no-one interest to ban discrimination, the battle eventually turns on the rule makers.
It was just a joke mate.
Sorry, Monday morning humour failure.It was just a joke mate.
Be nice if Simon commented (when his finished grinning)
Yesterday, 4:40pm #5817
Jack Hughes
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Phew. Although there might be a few people who could genuinely benefit from 'latency', I wonder what would happen if all bets were automatically processed instantly, at the price shown when you clicked, as they could be (and should be, as SB providers always stress that it's their prices we're trading, not the real market)?
Like your style Jack .......
Don`t you just love it when you recieve email confirmation of trades .......then guess what ......
1.) It`s a latency issue
2.) Price feed error
3.) Erroneous spike
4.) All of the above
Anything to stop a trade
If you have a ticket IT`S A FILL
No questions asked
Not when you`re trading with a sb company it`s not read the clauses in the TC`s they can do what they like and generally do
Jack Hughes
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Phew. Although there might be a few people who could genuinely benefit from 'latency', I wonder what would happen if all bets were automatically processed instantly, at the price shown when you clicked, as they could be (and should be, as SB providers always stress that it's their prices we're trading, not the real market)?
Like your style Jack .......
Don`t you just love it when you recieve email confirmation of trades .......then guess what ......
1.) It`s a latency issue
2.) Price feed error
3.) Erroneous spike
4.) All of the above
Anything to stop a trade
If you have a ticket IT`S A FILL
No questions asked
Not when you`re trading with a sb company it`s not read the clauses in the TC`s they can do what they like and generally do
Thanks a lot and keep posting, your contribution is highly appreciated.
Why keep traders continue saying SB are allowed to do anything if it is stipulated in the T&C?
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tar
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but this is not important , longs offset shorts , not all traders will bet in one side and if they do , the SB firm will hedge the extra risk in the market ...
Jack Hughes
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Thanks for your support, Trusted
My main complaints about SB companies are,
a) that they never admit they've made a mistake, even if you have screenshots to prove it.
b) that they don't need to use slimy tactics to run their business profitably, because the vast majority of punters lose, sooner or later.
They get away with it because after the 'compliance' department stage (where they studiously ignore all the evidence and decide they've acted entirely correctly, of course) they know that most people can't be bothered to go through the FOS. (Which is why I'm doing that with one unmentionable SB outfit at the moment!)
Good on you Jack
I think you have summed it up .....In house compliance is a farcical procedure
It`s lip service to the FSA and nothing else
Of course these are biased to their employer .......THE SB COMPANY
gle ......when it comes to a major price feed error you need to view both sides of the fence
It`s ok a sb company withdrawing the ticket .........what about the counterparty though ie.The trader that got stopped on such an erronreous spike do your think their trade which was busted was reinstated
I very much doubt it
In fact I have heard it from a trader that sb companies go stop hunting post close after 9pm
I think you have summed it up .....In house compliance is a farcical procedure
It`s lip service to the FSA and nothing else
Of course these are biased to their employer .......THE SB COMPANY
gle ......when it comes to a major price feed error you need to view both sides of the fence
It`s ok a sb company withdrawing the ticket .........what about the counterparty though ie.The trader that got stopped on such an erronreous spike do your think their trade which was busted was reinstated
I very much doubt it
In fact I have heard it from a trader that sb companies go stop hunting post close after 9pm
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Absolutely, I agree, a major price feed error should work both ways. I am quite sure it does in most cases.
Typical tactic here used by Capital spreads
The guy doesn`t sound malicious either despite this
Look on the advfn board
0rient - 9 Nov'09 - 16:18 - 1505 of 1511
In all honesty losing trades don't bother me as its just part and parcel of trading...you have to expect a few. On this particular trade I'm well annoyed as i attempted to close out on a number of occasions Friday afternoon after the unemployment figures at a profit but my SB platform kept freezing me out...I've complained but will just have to take it on the chin and move companies when i close out..
The guy doesn`t sound malicious either despite this
Look on the advfn board
0rient - 9 Nov'09 - 16:18 - 1505 of 1511
In all honesty losing trades don't bother me as its just part and parcel of trading...you have to expect a few. On this particular trade I'm well annoyed as i attempted to close out on a number of occasions Friday afternoon after the unemployment figures at a profit but my SB platform kept freezing me out...I've complained but will just have to take it on the chin and move companies when i close out..
It`s not a one off
chiefchimpanzee - 9 Nov'09 - 18:14 - 1510 of 1511
Orient had the same mate. getting that happen quite a few times recently. Really can be frustrating seeing a profit escape during volatile times. I have found myself placing limit orders just to be safe.either
chiefchimpanzee - 9 Nov'09 - 18:14 - 1510 of 1511
Orient had the same mate. getting that happen quite a few times recently. Really can be frustrating seeing a profit escape during volatile times. I have found myself placing limit orders just to be safe.either
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Capital is guaranteed to freeze when major figures come out from USA.
A suggestion to CAPITAL, instead of 1 point spread in FT/DAX, normal spread,why don't you increase to 2 points and keep your clients happy.
IG freezes, very rarely.
A suggestion to CAPITAL, instead of 1 point spread in FT/DAX, normal spread,why don't you increase to 2 points and keep your clients happy.
IG freezes, very rarely.
capitalspreads
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wow
i went off line for a few days and 12 pages of comment. Basically people chatting between themselves so no real input needed from me.
The process of trying to improve systems whilst at the same time having to keep the existing platforms running is not as simple as everyone might think
The LSE managed to fall over yesterday at 15.04 (in a huge number of stocks) and failed to come up for trading again before the close. They have vast resourses compared to LCG and still could not solve an issue within 90 minutes
IG have very fine systems but they still quote wider prices than CS on nearly every market. The problem with stating that nobody should operate until they are at least as good as the best would mean that, eventually, you would end up with just one or two companies. At the moment there are some 10 SB companies around and you can pick or choose between them at your leisure. They each have their individual advantages and disadvantages.
On dealer intervention I am afraid that we will just have to agree to disagree. The SB companies take their view and scalpers have theirs. Let me emphasis that there is nothing wrong in trying to scalp on latency issues but on the other hand there should likewise be nothing wrong with SB companies trying to prevent it.
On spiking price moves…. If a price move actually happens then orders (take profit or stop losses) will be executed. If a spike is caused by ‘Fat Finger’ on the exchanges and trades are subsequently deleted ‘by the exchange’ then CS will respond in exactly the same way. (there was a case last week on the US Dollar Index for anyone interested when the exchange suddenly shot up to over 82.000 in a minute (and stayed quite high for a couple of minutes). We executed the orders as per our quote but later in the day the exchange ‘busted’ all trades over 77.500. All stops above this price were reinstated with our clients and all slippage (as there was quite a bit) reversed back to 77.500.
If anyone goes ‘stop hunting’ after 21.00 (I assume he means in the FTSE and Dax ‘out of hours’ markets) or is suspected of doing so then this should be reported to the FSA/FOS. All our prices are referenced to the underlying ‘world markets’ and our competitor quotes.
The problem with somebody ‘stop hunting’ is that if they move the price unreasonably high, or low, then clients will just trade against you. In trying to reach a stop you are more likely to attract more trades from Clients recognising that your quote has gone too far.
I can guarantee that CS does not do this.
There have been moments when i have seen huge stops from clients just a pip away ….. only for the market to sway the other way.. we do not really watch the stop book anyway as we are only interested when they are executed (our screens show then as ‘red lined’ for activation) .. I am sure that some of the readers of this thread might admit to trades where their stops have been saved by a pip or two and turned round into a profit.
Once again I would like to mention that any client is welcome to come and visit our offices to see how every thing really does work. Rather than take too much notice of all the conspiracy theories out there.
Simon
i went off line for a few days and 12 pages of comment. Basically people chatting between themselves so no real input needed from me.
The process of trying to improve systems whilst at the same time having to keep the existing platforms running is not as simple as everyone might think
The LSE managed to fall over yesterday at 15.04 (in a huge number of stocks) and failed to come up for trading again before the close. They have vast resourses compared to LCG and still could not solve an issue within 90 minutes
IG have very fine systems but they still quote wider prices than CS on nearly every market. The problem with stating that nobody should operate until they are at least as good as the best would mean that, eventually, you would end up with just one or two companies. At the moment there are some 10 SB companies around and you can pick or choose between them at your leisure. They each have their individual advantages and disadvantages.
On dealer intervention I am afraid that we will just have to agree to disagree. The SB companies take their view and scalpers have theirs. Let me emphasis that there is nothing wrong in trying to scalp on latency issues but on the other hand there should likewise be nothing wrong with SB companies trying to prevent it.
On spiking price moves…. If a price move actually happens then orders (take profit or stop losses) will be executed. If a spike is caused by ‘Fat Finger’ on the exchanges and trades are subsequently deleted ‘by the exchange’ then CS will respond in exactly the same way. (there was a case last week on the US Dollar Index for anyone interested when the exchange suddenly shot up to over 82.000 in a minute (and stayed quite high for a couple of minutes). We executed the orders as per our quote but later in the day the exchange ‘busted’ all trades over 77.500. All stops above this price were reinstated with our clients and all slippage (as there was quite a bit) reversed back to 77.500.
If anyone goes ‘stop hunting’ after 21.00 (I assume he means in the FTSE and Dax ‘out of hours’ markets) or is suspected of doing so then this should be reported to the FSA/FOS. All our prices are referenced to the underlying ‘world markets’ and our competitor quotes.
The problem with somebody ‘stop hunting’ is that if they move the price unreasonably high, or low, then clients will just trade against you. In trying to reach a stop you are more likely to attract more trades from Clients recognising that your quote has gone too far.
I can guarantee that CS does not do this.
There have been moments when i have seen huge stops from clients just a pip away ….. only for the market to sway the other way.. we do not really watch the stop book anyway as we are only interested when they are executed (our screens show then as ‘red lined’ for activation) .. I am sure that some of the readers of this thread might admit to trades where their stops have been saved by a pip or two and turned round into a profit.
Once again I would like to mention that any client is welcome to come and visit our offices to see how every thing really does work. Rather than take too much notice of all the conspiracy theories out there.
Simon
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Any comments on freezing and actions you are going to take to avoid it in future ?
My suggestion was to increase the spread during volatile sessions.
My suggestion was to increase the spread during volatile sessions.
capitalspreads
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the freezing on friday happened to a group of clients on one of our FEP's where the number of clients being apportioned to that FEP went over a certain number, freezing the FEP. When we closed that FEP down it immediately swamped the next one. We have analysed the problem and believe that we have found and implemented a solution. touch wood.
widening the spread would just annoy the thousands of clients who were not having a problem.
My login had no issue at all and it took some time (18 minutes) for us to find out what the problem actually was and then adjust for it. As mentioned previously offering a live online platform is an education in itself. What you believe is working beautifully one day will be building up a problem somewhere else and vice versa.
In one case, quite a while ago, we had solved a very real point of constriction costing us a large sum of development money only to discover that in solving the bottleneck at one point led to bottlenecks elsewhere as the increased speed of data overwhelmed other areas
simon
Simon
widening the spread would just annoy the thousands of clients who were not having a problem.
My login had no issue at all and it took some time (18 minutes) for us to find out what the problem actually was and then adjust for it. As mentioned previously offering a live online platform is an education in itself. What you believe is working beautifully one day will be building up a problem somewhere else and vice versa.
In one case, quite a while ago, we had solved a very real point of constriction costing us a large sum of development money only to discover that in solving the bottleneck at one point led to bottlenecks elsewhere as the increased speed of data overwhelmed other areas
simon
Simon
