Best Thread Capital Spreads
To Capitalspreads
If you want to beat the comption hands down, try this.Exaple the YM trades, offer and bid 1Tick.On entry you use a 5 points spread. When one is filled, and one wants to place a stop. let your clients place a stop based on the underling market and not your quote.
CMC offer this but the stop got to be 10 ticks away from the market,but you will only be stopped out if the underling markets hits the stop not their quote. See if you can beat then with 5 ticks from the market to place stops, but not on your quote on the real market.
If you average trader, trades 3 times a day trading the Dow, over 5 days, he would need 75 points a week just BREAK-EVEN, and if you allow for errors bad fills I would think this goes up to 100 points a week just to cover the cost of the spreads.Give your clients some chance in this game and give the option to place a stop on the underling market.
CJ
If you want to beat the comption hands down, try this.Exaple the YM trades, offer and bid 1Tick.On entry you use a 5 points spread. When one is filled, and one wants to place a stop. let your clients place a stop based on the underling market and not your quote.
CMC offer this but the stop got to be 10 ticks away from the market,but you will only be stopped out if the underling markets hits the stop not their quote. See if you can beat then with 5 ticks from the market to place stops, but not on your quote on the real market.
If you average trader, trades 3 times a day trading the Dow, over 5 days, he would need 75 points a week just BREAK-EVEN, and if you allow for errors bad fills I would think this goes up to 100 points a week just to cover the cost of the spreads.Give your clients some chance in this game and give the option to place a stop on the underling market.
CJ
capitalspreads
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cj12
well yes that sounds fine but as our quote is based upon the YM contract D4F offer is just the equivalent of ours. We pride ourselves on the fact that we never bias our prices so that you can be sure that if we are quoting 10322-27 the real YM price is 24 or 25. I assume that D4F still charge the spread on the stop, they just allow the stop trigger to be the market price not the "our quote". (i dont actually know this i am guessing as that is what the other SB companies do) the only rason that clients ask for this is because of the suspision that SB companies will bias prices to trigger stops or just bias prices to reflect their book position.
The spread on the Dow may come down but is difficult because of the size of the bets against the market liquidity and the fact that the SB companies are, in general, market makers and (most of the time) stick to their price even if the market moves away whilst the deal is happening . If you tried that in the real market you would just miss the price. Costs of dealing in the dow contract are also v.expensive, even for us.
Even D4F( who every one quotes when spreads are mentioned) havn't narrowed below 5 pips. We even beat them on our front month spread 6 pips against their front qtly 8 pips.
Good Luck everyone
Simon
well yes that sounds fine but as our quote is based upon the YM contract D4F offer is just the equivalent of ours. We pride ourselves on the fact that we never bias our prices so that you can be sure that if we are quoting 10322-27 the real YM price is 24 or 25. I assume that D4F still charge the spread on the stop, they just allow the stop trigger to be the market price not the "our quote". (i dont actually know this i am guessing as that is what the other SB companies do) the only rason that clients ask for this is because of the suspision that SB companies will bias prices to trigger stops or just bias prices to reflect their book position.
The spread on the Dow may come down but is difficult because of the size of the bets against the market liquidity and the fact that the SB companies are, in general, market makers and (most of the time) stick to their price even if the market moves away whilst the deal is happening . If you tried that in the real market you would just miss the price. Costs of dealing in the dow contract are also v.expensive, even for us.
Even D4F( who every one quotes when spreads are mentioned) havn't narrowed below 5 pips. We even beat them on our front month spread 6 pips against their front qtly 8 pips.
Good Luck everyone
Simon
minx
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Is there a facility to take part of a bet off? If you wanted to take £10 of a £20 per point bet off would you have to close the bet then open a new one at £10 per point? If it isnt possible then do you think you might be interested in providing this facility? Personally I'd find it really useful.
Thanks
Minx
Thanks
Minx
the blades
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minx said:
minx - yes, you can do this with Capital. Another feature I found useful and not possible with IG.
UTB
capitalspreads
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minx
uummm this is already available . If you were long £20 a point in the FTSE you would just do a sell bet for £10 in the same area that you made the original opening bet (i.e NOT the open positions client area)
The computer will automatically adjust your stops / limit orders to reflect the remaining stake size.
The close button in the open position area is just a quick close button for the whole position.
Simon
uummm this is already available . If you were long £20 a point in the FTSE you would just do a sell bet for £10 in the same area that you made the original opening bet (i.e NOT the open positions client area)
The computer will automatically adjust your stops / limit orders to reflect the remaining stake size.
The close button in the open position area is just a quick close button for the whole position.
Simon
the blades
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the blades said:
I must correct myself here. IG have just informed me that they also provide this facility, in the same way.
UTB
capitalspreads
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the blades
i must say i was a bit surprised when you said that as i thought it could not be correct.... but i was pretty sure someone else would correct you if it was wrong...
mind u it is nice to see IG read this thread !
I hope it is proving useful guys
Simon
i must say i was a bit surprised when you said that as i thought it could not be correct.... but i was pretty sure someone else would correct you if it was wrong...
mind u it is nice to see IG read this thread !
I hope it is proving useful guys
Simon
capitalspreads
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CJ
that would be a major change for us to do and far be-it for me to say it is also rather close to crosing the line from spread betting to actual dealing ... this would start to interest the IR if trades were being activated and put through on actual market prices.
But all credit to D4F they do generally set the pace ... sometimes we manage to steal a march on them but not often !!
Simon
that would be a major change for us to do and far be-it for me to say it is also rather close to crosing the line from spread betting to actual dealing ... this would start to interest the IR if trades were being activated and put through on actual market prices.
But all credit to D4F they do generally set the pace ... sometimes we manage to steal a march on them but not often !!
Simon
Dow
Hi
I have opened a demo account with Capital Spread and tried to experiment with the dow (DJI).
Is it what you call Wall street daily cash? If it is, it is out of sync with the undelying index by a large margin (as taken from ADVFN). Also all throughtout morning its value changes while the market is closed!
Can you shed any light?
Thanks
Hi
I have opened a demo account with Capital Spread and tried to experiment with the dow (DJI).
Is it what you call Wall street daily cash? If it is, it is out of sync with the undelying index by a large margin (as taken from ADVFN). Also all throughtout morning its value changes while the market is closed!
Can you shed any light?
Thanks
capitalspreads
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The Novice
the demo platform may be slightly out against the cash as it may not have been adjusted for 'Fair value' but this is consistent during the day.
We quote the Dow cash from the futures price (not from the index price) this is because we know that the cash will be a consistent difference with the future all day. But the future moves much more quickly than the cash index that you may see on ADVFN as this relies on all 30 stocks trading before an up date. We quote the Dow cash before the open because we know from the futures price (which is open) where the dow be trading if it were open.
This point has been gone into on this thread and on many of the other threads ... so if you would like a more detailed explanation you may be able to look around.
Simon
the demo platform may be slightly out against the cash as it may not have been adjusted for 'Fair value' but this is consistent during the day.
We quote the Dow cash from the futures price (not from the index price) this is because we know that the cash will be a consistent difference with the future all day. But the future moves much more quickly than the cash index that you may see on ADVFN as this relies on all 30 stocks trading before an up date. We quote the Dow cash before the open because we know from the futures price (which is open) where the dow be trading if it were open.
This point has been gone into on this thread and on many of the other threads ... so if you would like a more detailed explanation you may be able to look around.
Simon
That's interesting. I also didn't know that. I really must read through the whole of this thread and check out the other clever gadgets I don't yet know about! Again, Simon, thank you for being a real credit to the industry and answering all our questions in public like this. It speaks _really_ highly of your company and yourself.capitalspreads said:
Thanks for the info
I have started to go through this tread from the beginning and have managed to reach page 10! Still have not got to the part about Dow future (perhaps you can point me to the right part). From what I understand from your previous comment your data will be a fixed offset from the underlying market (as quoted on ADVFN) Therefore, if I note the difference at the beginning of the day I should be able to add a constant offset to my real-time chart to follow your prices. You see it is very difficult for me to place a stop loss or a limit order if I cannot relate what I see on the chart to your actual prices (or very close to it). I use Metastock with ADVFN or Yahoo data feed. I can also use Metatrader if you know of a vendor with a price close to yours.
Somewhere in those 10 pages you were commenting that real-time charts will be available soon (2003) is it available now?
Thanks
I have started to go through this tread from the beginning and have managed to reach page 10! Still have not got to the part about Dow future (perhaps you can point me to the right part). From what I understand from your previous comment your data will be a fixed offset from the underlying market (as quoted on ADVFN) Therefore, if I note the difference at the beginning of the day I should be able to add a constant offset to my real-time chart to follow your prices. You see it is very difficult for me to place a stop loss or a limit order if I cannot relate what I see on the chart to your actual prices (or very close to it). I use Metastock with ADVFN or Yahoo data feed. I can also use Metatrader if you know of a vendor with a price close to yours.
Somewhere in those 10 pages you were commenting that real-time charts will be available soon (2003) is it available now?
Thanks
Since Capital Spreads have introduced the Rolling Day product with shorter spreads on the items I trade have tried them again, after using CMC over the last three months.
I am trading Cable and Euro / $.
Better software, better Customer Service than CMC. However one grind:
I keep getting (5 or 6 times yesterday) requoted when price moves in my favour in the time between when I enter the trade and when it is approved broker end. This is not in big moves / data times.
For example -
If I go long at 60 and price moves to 58 or 59 I am entered into the market.
If I go long at 60 and price moves to 61 or 62 I get the price expired response.
Not nice.
Can understand if there is a 10 pip move between when I click on the web page and when it gets approved broker end, though not over a one or two pips.
Anyone else found this an issue ?
I am trading Cable and Euro / $.
Better software, better Customer Service than CMC. However one grind:
I keep getting (5 or 6 times yesterday) requoted when price moves in my favour in the time between when I enter the trade and when it is approved broker end. This is not in big moves / data times.
For example -
If I go long at 60 and price moves to 58 or 59 I am entered into the market.
If I go long at 60 and price moves to 61 or 62 I get the price expired response.
Not nice.
Can understand if there is a 10 pip move between when I click on the web page and when it gets approved broker end, though not over a one or two pips.
Anyone else found this an issue ?
I have trialed various s.bet companies and ultimately find that city index are the best. their spreads are consistent and they will always put you back into trades if you get stopped out by the bid/offer spread and the market does not actually trade there - this happens alot! Also there range of quoted stocks is second to none, only complaint is that most are not quoted online and you have to call them.
capitalspreads
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since this is Capital spreads commentry page i will give a few numbers to Nicsta
the main products traded are the Dow the FTSE, Oil, £/$ and €/$
Daily Wall Street CS quote 5 pips City quote 6 pips (8 points out of hours)
Daily FTSE quote CS quote 2 pips City quote 4 pips
Oil CS quote 8 pips City 10 pips
£/$ CS quote 3 pips City quote 6 pips
€/$ CS quote 3 pips City quote 6 pips
on half of the products City's spread is DOUBLE ours
the savings are similar on the share quotes
Admittedly we dont quote shares outside the FTSE 350 but all of the ones we do quote are online.
City's service would have to be incredible to justify trading with them over us.
And from the comments on this thread and elsewhere my customer services dept is rated very highly indeed.
Good luck everyone
Simon
the main products traded are the Dow the FTSE, Oil, £/$ and €/$
Daily Wall Street CS quote 5 pips City quote 6 pips (8 points out of hours)
Daily FTSE quote CS quote 2 pips City quote 4 pips
Oil CS quote 8 pips City 10 pips
£/$ CS quote 3 pips City quote 6 pips
€/$ CS quote 3 pips City quote 6 pips
on half of the products City's spread is DOUBLE ours
the savings are similar on the share quotes
Admittedly we dont quote shares outside the FTSE 350 but all of the ones we do quote are online.
City's service would have to be incredible to justify trading with them over us.
And from the comments on this thread and elsewhere my customer services dept is rated very highly indeed.
Good luck everyone
Simon
Question for Simon
Would be very grateful if you could comment on this, please, Simon.
I've had a difference of opinion with a friend about how your service works. I think a specific example - even if not completely realistic - will make it easiest for you to reply quickly, so here goes: at about 8.00pm I open a long position on rolling USD/JPY at 105.60 with a stop-loss at 104.80. Let's say the market falls steadily all night, without gapping anywhere and passing clearly and slowly through my stop-loss. At 7.00 the next morning when you open, the USD/JPY is down to let's say 103.80. At what price is my losing position closed out?
I imagined it's closed out at 104.80. My mate says it's closed at 103.80 because that's where the market happened to be when you opened for business. This can't possibly be right, can it? What would be the point of having the stop?
Would be very grateful if you could comment on this, please, Simon.
I've had a difference of opinion with a friend about how your service works. I think a specific example - even if not completely realistic - will make it easiest for you to reply quickly, so here goes: at about 8.00pm I open a long position on rolling USD/JPY at 105.60 with a stop-loss at 104.80. Let's say the market falls steadily all night, without gapping anywhere and passing clearly and slowly through my stop-loss. At 7.00 the next morning when you open, the USD/JPY is down to let's say 103.80. At what price is my losing position closed out?
I imagined it's closed out at 104.80. My mate says it's closed at 103.80 because that's where the market happened to be when you opened for business. This can't possibly be right, can it? What would be the point of having the stop?
