Best Thread CMC Markets owner answers your questions

[gle101]

Hi tonym
Because there is little or no demand for it from our client base. Can never really understand why anybody would want to have a buy and sell ticket open at any one time to be honest.

thanks for your post
regards peter

To give you an example, news trading, you don't know in which way the market is heading, you would like to be prepared for both scenarios, with all the settings for stops and target in place.

 

[PC at CMC Markets]

Hi gle101

It is fair point and worth considering I will speak to the team. However, i would have thought it is better to enter stop entries to buy or sell outside current range to position yourself for news events. You can enter stops and profits on stop entries at the same time.

thanks peter

To give you an example, news trading, you don't know in which way the market is heading, you would like to be prepared for both scenarios, with all the settings for stops and target in place.

 

[gle101]

Hi gle101

It is fair point and worth considering I will speak to the team. However, i would have thought it is better to enter stop entries to buy or sell outside current range to position yourself for news events. You can enter stops and profits on stop entries at the same time.

thanks peter

Yes good, a lot of traders like to have to have the option open for a short and long market order, not the best at important news releases perhaps, but nevertheless, the option must be available as it might be used for entering a position at other market scenarios as well.

 

[tonym]

I would of thought it would be a mandatory requirement on any professional platform , you can lose a lot of time bring the relevant buy/sell box up . Thanks

 

[swandro]

Hi tonym
Because there is little or no demand for it from our client base. Can never really understand why anybody would want to have a buy and sell ticket open at any one time to be honest.

thanks for your post
regards peter

Peter

There is a very valid occasion when you might want to be both long and short the same instrument at the same time. You may be long to trade a long-term trend, but you may want to be short on a different time frame, for example to trade a pulllback, without affecting your long positon.

The only way to do this is to have the trades open with different brokers, or alternatively to trade the pullback on a correlated instrument.

Either way, it would be much nicer to be able to play a market both ways at the same time. I am fairly certain this is possible with some other SB companies.

 

[gle101]

Peter

There is a very valid occasion when you might want to be both long and short the same instrument at the same time. You may be long to trade a long-term trend, but you may want to be short on a different time frame, for example to trade a pulllback, without affecting your long positon.

The only way to do this is to have the trades open with different brokers, or alternatively to trade the pullback on a correlated instrument.

Either way, it would be much nicer to be able to play a market both ways at the same time. I am fairly certain this is possible with some other SB companies.

You got the the new player Smart Live Markets with the MT4 platform. I do believe you also can hedge the same instrument with Worldspreads.

 

[arabianights]

Peter

There is a very valid occasion when you might want to be both long and short the same instrument at the same time. You may be long to trade a long-term trend, but you may want to be short on a different time frame, for example to trade a pulllback, without affecting your long positon.

The only way to do this is to have the trades open with different brokers, or alternatively to trade the pullback on a correlated instrument.

Either way, it would be much nicer to be able to play a market both ways at the same time. I am fairly certain this is possible with some other SB companies.

This is exactly the same as just closing the position then opening it up again, except you will be charged more on rollovers etc...

 

[uchiki]

Peter,

I know this isn't likely to be imminent, but for drawing tools, pitchforks (Andrews and Modified Schiff) and ABCD patterns would be useful additions. GFT have both of these.

 

[XEC10]

Hi xec10
Thanks for your posting. I am completely amazed by this question. Why is it relevant to us if clients win or lose when they trade? The bottom line is that as a spread better you have a lot of choice who to work with. The spreads are very competitive, transparent and tight and you are trading derivatives on recognised markets. You get free charting, free news, free analytics, no ticket time out, fractional pricing. Spread betters have never had a more competitive environment to trade in.

We as a company have to handle millions of trades, stops, limits, orders every month across multiple asset classes. We have to deliver a very competitive service on some times non marketable amounts. In addition we have a big partners business where we deal with one account with our partners and clear trades through that account. Their clients trade on our prices.

Spread betters have to concentrate on making money from the markets. When you spread bet you may open a position with your spread bet company but ultimately it is the market direction that determines whether you will make money or not.
You are taking on the worlds markets when you bet not your spread bet company.
Thanks for taking the time to post.
regards Peter

Peter,

That response is a sales pitch to promote spread betting with CMC, and is not an answer to the question asked. Also, please don't refer to me as a spread better, I have a CFD account with CMC and I don't intend to open a spread betting account. When I opened the CFD account with CMC in 2010 I recall a person from CMC phoning me to say that they would manage my account, although I have not had any need to contact CMC regarding my account since. So I presume that all clients get that initial phone call and that probably there is some monitoring of clients accounts, but not individual trades.

The free charting from CMC simply isnt sufficient for trading, it has to be supplemented by additional datafeeds for anyone serious about trading. Only a mug would rely entirely on the CMC charting. I've previously asked you about the possibility of CMC providing the $TICK index and the NYSE composite index but the answer was negative. How about CMC providing a real time scanner along the lines of eSignal Turbo Scanner?

The fact is that the broker service I get from CMC isn't complete, I need scanning tools and datafeeds not another charting tool. I will certainly try the next gen charting tool when its available for CFD but it doesn't seem necessary for me.

 

[PC at CMC Markets]

Hi Swandro

I can understand this and I have put in a request to the team. It is not high on the agenda but hopefully will get done. They are buried with next gen releases including cfds and charting and also some new features for next gen spread bet. will let you know ho wit is going.
thanks peter

Peter

There is a very valid occasion when you might want to be both long and short the same instrument at the same time. You may be long to trade a long-term trend, but you may want to be short on a different time frame, for example to trade a pulllback, without affecting your long positon.

The only way to do this is to have the trades open with different brokers, or alternatively to trade the pullback on a correlated instrument.

Either way, it would be much nicer to be able to play a market both ways at the same time. I am fairly certain this is possible with some other SB companies.

 

[PC at CMC Markets]

thank you arabiannights. I am in your camp on this one.
pc

This is exactly the same as just closing the position then opening it up again, except you will be charged more on rollovers etc...

 

[PC at CMC Markets]

thanks uchiki already passed onto the team.
is not too difficult for us to include this into charts. might be able to do a quick build on it but lets see what they come up with for next launch of charts.
I do not want to stand over these guys and push them to keep putting stuff in because they are under pressure to deliver and they have enough to worry about.

tks pc

Peter,

I know this isn't likely to be imminent, but for drawing tools, pitchforks (Andrews and Modified Schiff) and ABCD patterns would be useful additions. GFT have both of these.

 

[PC at CMC Markets]

hi xec10
not sure if you understood my response to the question. It is simple and not sales promotion of this company. If you open an up or down bet your profit and loss is determined by what the market does not what the spread bet provider does with your bet. simples yes.

pc

QUOTE=XEC10;1408374]Peter,

That response is a sales pitch to promote spread betting with CMC, and is not an answer to the question asked. Also, please don't refer to me as a spread better, I have a CFD account with CMC and I don't intend to open a spread betting account. When I opened the CFD account with CMC in 2010 I recall a person from CMC phoning me to say that they would manage my account, although I have not had any need to contact CMC regarding my account since. So I presume that all clients get that initial phone call and that probably there is some monitoring of clients accounts, but not individual trades.

The free charting from CMC simply isnt sufficient for trading, it has to be supplemented by additional datafeeds for anyone serious about trading. Only a mug would rely entirely on the CMC charting. I've previously asked you about the possibility of CMC providing the $TICK index and the NYSE composite index but the answer was negative. How about CMC providing a real time scanner along the lines of eSignal Turbo Scanner?

The fact is that the broker service I get from CMC isn't complete, I need scanning tools and datafeeds not another charting tool. I will certainly try the next gen charting tool when its available for CFD but it doesn't seem necessary for me.[/QUOTE]

 

[tonym]

RE my earlier question about only showing one side of the price, the obvious concern is that it makes it
very easy for CMC to shade the price in their favour. Essentially the customer has to show his side every time they want to trade.
Thanks
Tony

 

[PC at CMC Markets]

Hi Tonym
Just to remind you that next gen is completely automated in terms of pricing, execution and spreads. There are no re quotes, ticket time out and the system does not read clients whether they are buyer or seller. execution is fully electronic.

However, I spoke to the team and we will put this on the list of things to explore and perhaps offer.

thanks for taking the time to post your message.
regards peter

RE my earlier question about only showing one side of the price, the obvious concern is that it makes it
very easy for CMC to shade the price in their favour. Essentially the customer has to show his side every time they want to trade.
Thanks
Tony

 

[tonym]

Thankyou

 

[PC at CMC Markets]

you're welcome

Thankyou

 

[arabianights]

thank you arabiannights. I am in your camp on this one.
pc

I've come over all funny...

 

[jesteruk]

to be fair you can still see both the bid and ask even when a deal ticket is open just by looking at the watch list or the quotes at the top of the chart. i don't see how they can scew the price here

 

[PC at CMC Markets]

jesteruk

absolutely right.

tks pc

to be fair you can still see both the bid and ask even when a deal ticket is open just by looking at the watch list or the quotes at the top of the chart. i don't see how they can scew the price here