Best Thread CMC Markets owner answers your questions

[peto]

hi Dave,
Yes but are you getting price improvements
pc

Confirmed. Since my last review I have tried some limit orders to close, and find the slippage (i.e.. price improvements) to be comparable to the slippage on stops.

I also executed a successful scalp in the volatility immediately following the NFP. Reporting of the trades was a little slow (couple of seconds) but the fills were good. Well done cmc.

 

[uk dave]

hi Dave,
Yes but are you getting price improvements
pc

Not what I have noticed, just prices that work against my parameters and my r/r.

 

[uk dave]

Confirmed. Since my last review I have tried some limit orders to close, and find the slippage (i.e.. price improvements) to be comparable to the slippage on stops.

I also executed a successful scalp in the volatility immediately following the NFP. Reporting of the trades was a little slow (couple of seconds) but the fills were good. Well done cmc.

How was that possible they suspended the markets, proof is on the bad spreadbet thread with screen shot.

 

[tar]

How was that possible they suspended the markets, proof is on the bad spreadbet thread with screen shot.

No it wasn't at the NFP it was Crude oil inventories and only for a few seconds ....

 

[PC at CMC Markets]

hi peto,

thanks for the posting. I do think we can really tighten up stops and limits as well. which is not too difficult to do and I think fix is going through soon.
I have always maintained that we will always deliver the market price to our clients when they place order.
The system quotes blindly and never reads a client as a buyer or seller. you get the good and the bad. For me the key is to make sure that you can trade quickly. how frustrating it must be if your provider offers fill or kill and you are constantly chasing the markets to get your market order done.

I think in time our way will win the arguement. afterall it is based on what exchanges do.

tks pc

Confirmed. Since my last review I have tried some limit orders to close, and find the slippage (i.e.. price improvements) to be comparable to the slippage on stops.

I also executed a successful scalp in the volatility immediately following the NFP. Reporting of the trades was a little slow (couple of seconds) but the fills were good. Well done cmc.

 

[PC at CMC Markets]

hi dave,
the wording is not correct. we cannot suspend a market if it is open.
we will change wording. It is when there is price corruption outside of our control.
e.g prices crossing from the banks or brokers.

pc

How was that possible they suspended the markets, proof is on the bad spreadbet thread with screen shot.

 

[gle101]

I think in time our way will win the arguement. afterall it is based on what exchanges do.

tks pc

I might change my mind after trading with you live. If it works fine and I am satisfied with the collective result of the execution and the stops, so why not. It is the end result that matters.

 

[PC at CMC Markets]

hi gle101,

You will be a welcome client and look forward doing business with you.
going to bed now.
speak tomorrow.
good night

pc
p.s I suppose it is still sun light up their in Sweden, so I suppose you only have 30 minutes kip.

I might change my mind after trading with you live. If it works fine and I am satisfied with the collective result of the execution and the stops, so why not. It is the end result that matters.

 

[uk dave]

hi dave,
the wording is not correct. we cannot suspend a market if it is open.
we will change wording. It is when there is price corruption outside of our control.
e.g prices crossing from the banks or brokers.

pc

Don't you think you should use a more reliable data exchange if your current one has these problems when the actual market does not, then we will have more trust with your company.

 

[gle101]

Don't you think you should use a more reliable data exchange if your current one has these problems when the actual market does not, then we will have more trust with your company.

Give a report on trades instead of "fiddling" around with a blame game. I asked you questions in post #3138, I didn't get any answer.

 

[PC at CMC Markets]

hi Dave,
we use every exchange out there plus bank feeds. but these things happen across
banks and exchanges, especially the banks. You would not believe the quality of bank data feeds. Their answer is just to widen the spreads if there is large volatility. I think that is because they have lots of computerised trading system logged onto their platforms to try and hit them if there is a price disparity. we do not we only accept retail flows so we can sanity check the process a lot easier. also we need to maintain a high level of service to our clients. I can tell you on forex for example that during a volatile period for the most part we offer better quotes than we receive from the banks. A classic example was when the Swiss National Bank put a floor on euro/chf of 1.20. the bank feeds went crazy (so did ours) but for the most part we offered our clients a better spread than we were receiving.

tks pc

Don't you think you should use a more reliable data exchange if your current one has these problems when the actual market does not, then we will have more trust with your company.

 

[uk dave]

Give a report on trades instead of "fiddling" around with a blame game. I asked you questions in post #3138, I didn't get any answer.

Sorry gle101 I missed your post. I trade on average 20 trades per day, and get slipped against me on most, I'm now keeping a log.

 

[uk dave]

hi Dave,
we use every exchange out there plus bank feeds. but these things happen across
banks and exchanges, especially the banks. You would not believe the quality of bank data feeds. Their answer is just to widen the spreads if there is large volatility. I think that is because they have lots of computerised trading system logged onto their platforms to try and hit them if there is a price disparity. we do not we only accept retail flows so we can sanity check the process a lot easier. also we need to maintain a high level of service to our clients. I can tell you on forex for example that during a volatile period for the most part we offer better quotes than we receive from the banks. A classic example was when the Swiss National Bank put a floor on euro/chf of 1.20. the bank feeds went crazy (so did ours) but for the most part we offered our clients a better spread than we were receiving.

tks pc

So because the banks widen their spreads as you claim, is that why you close your markets?

 

[gle101]

Sorry gle101 I missed your post. I trade on average 20 trades per day, and get slipped against me on most, I'm now keeping a log.

Thanks, yes report your findings, will have a much larger impact. What do you trade and how much do you get slipped?

 

[uk dave]

Thanks, yes report your findings, will have a much larger impact. What do you trade and how much do you get slipped?

I trade the fx market, and get slipped on average 1 to 2.5 pips, and they add up. Today is ok so far.

 

[gle101]

I trade the fx market, and get slipped on average 1 to 2.5 pips, and they add up. Today is ok so far.

On entry or stop loss orders? High or low stakes?

 

[uk dave]

On entry or stop loss orders? High or low stakes?

Market entry and stops. I trade different amounts according to my risk and it's the same.

 

[gle101]

Market entry and stops. I trade different amounts according to my risk and it's the same.

Make a calculation, find out the average, after let say a week of trading. Present the result here, it might be better or worst than you think it is. The average is what counts, and if it is too negative Peter have some explaining to do.

 

[G.O.A.T]

I trade the fx market, and get slipped on average 1 to 2.5 pips, and they add up. Today is ok so far.

So if I understand correctly, You take up to 20 trades a day and get slippage of 1 to 2.5 pips each trade? so the minimum slippage is 20 pips a day and a max of 50 add to that the spread of 0.7+ that amounts to around 34-64 pips just to breakeven??

 

[uk dave]

I get slipped on most and yes it eats in to my profits like paying tax actually...