Currency trading (Oct 16th > 20th)

[dc2000]

much change on the zones since your post, DC?

not at the moment we have until the end of the USsesh to hit the 619

 

[wasp]

we could have a poll on what crimbo presies we would like from our brokers

would the Olsen twins in a jacuzzi be asking too much

 

[Uphios]

would the Olsen twins in a jacuzzi be asking too much

Here's a snap I took when they round sitting on my jacuzzi. Can't let you have the ones of when they were in it.

 

[wasp]

Here's a snap I took when they round sitting on my jacuzzi. Can't let you have the ones of when they were in it.

I would have believed you till you said you had a jacuzzi in Crawley :cheesy:

 

[Uphios]

I would have believed you till you said you had a jacuzzi in Crawley :cheesy:

:cheesy: :cheesy: :cheesy:

 

[Phil Mibbutz]

...Another 'lurker' exposes himself (in the nicest possible way) with what might be a lame question. Do any of you use SB to trade currencies, or is that like using piles of tenners to light your bonfire on Nov 5th? Presumably an account with IB, Oanda, etc is the sensible way?

 

[Uphios]

...Another 'lurker' exposes himself (in the nicest possible way) with what might be a lame question. Do any of you use SB to trade currencies, or is that like using piles of tenners to light your bonfire on Nov 5th? Presumably an account with IB, Oanda, etc is the sensible way?

SB = Spreadbet? If so then yes I use spreadbet for currencies, indicies, gold, oil.

 

[wasp]

Hi Phil,

I used to use capitalspreads and still do to test strategies and whilst debate goes on regarding the vritues and non-so about SB'ing, IMO your just making life harder for yourself.

I can't speak for other brokers or other markets but, for FX, with its fast moves and being unregulated on the spot as it is, with an SB and the speed of execution and bias found (IMO!) is a financial inconveniece to say the least.

I personally use EFX and IB and the difference I found as soon as I switched was amazing. I won't go off on one regards SB problems but, it is definately financially in your favour not too SB as tax free is all well and good only as long as you can guarantee you'll get filled quickly and correctly with the minimal problems. Tax free is only any good if you can trade how you need to.

All IMO of course.

(Don't do it!!!) :cheesy:

 

[trendie]

...Another 'lurker' exposes himself (in the nicest possible way) with what might be a lame question. Do any of you use SB to trade currencies, or is that like using piles of tenners to light your bonfire on Nov 5th? Presumably an account with IB, Oanda, etc is the sensible way?

SB'ing happily for the moment.
I recognise that wasp is right, with regards to IB, and will move to it at some point.
I use CMC.

I know that a 3 pip spread is too wide to scalp, so dont. I look for 30+, 50+ moves, so that the spread becomes less of an issue.

I know the spread can widen, and fills become iffy during news, so I set my orders before any major news events, or better still, dont trade the news.

Most of the problems/criticisms come from people using the product in an inappropriate way.
( like trying to do wheelies in a tank )

that reminds me: I havent yet used my 1-pip spread Worldpsreads account - need to devirginise that one. :cheesy:

 

[wasp]

Most of the problems/criticisms come from people using the product in an inappropriate way.
( like trying to do wheelies in a tank ):

Yes and no IMO.

Whilst I agree that trying to scalp with an SB is impossibility, even the norm (20/50 pip moves, twice a day - wouldn't that be nice!) can be a nightmare.

I have never used CMC so not sure what its like but with capitalspreads it goes something like this:

Open ticket ready
Click buy/sell and wait 5>10 secs for confirmation
Can adjust stop in next window (wait too load)
then...
If need to suddenly change something, click on link to relevant window
then go into relevant part to adjust/cancel etc

With EFX:

all there on screen
click buy/sell (immediate)
Automatically pre set stops and targets
then...
if need to suddenly change something, the button is there on screen and done (immediate)
if wish to reenter opposing, the button is there on screen and imm reverse

All this ability on one screen cuts out over 30 seconds easily.

this might just be CS and granted, if after only a couple of trades a day you don't need it that quick but, timing is everything.

 

[Crawsthorne]

Hi Phil,

I used to use capitalspreads and still do to test strategies and whilst debate goes on regarding the vritues and non-so about SB'ing, IMO your just making life harder for yourself.

I can't speak for other brokers or other markets but, for FX, with its fast moves and being unregulated on the spot as it is, with an SB and the speed of execution and bias found (IMO!) is a financial inconveniece to say the least.

I personally use EFX and IB and the difference I found as soon as I switched was amazing. I won't go off on one regards SB problems but, it is definately financially in your favour not too SB as tax free is all well and good only as long as you can guarantee you'll get filled quickly and correctly with the minimal problems. Tax free is only any good if you can trade how you need to.

All IMO of course.

(Don't do it!!!) :cheesy:

As another (almost) lurker, your comments on brokers interest me. At what size (in terms of £/pip) do you feel it is right to swap from spread betting to brokers? I am currently trading very small amounts to test/verify my stragegies but I hope to soon change up a gear. Many thanks.

 

[wasp]

Hi Crawsthorne and welcome,

IMO nowadays, I would say now, immediate, I would not recommend using an SB to anyone at all, whether new or old, trading £1pp or £1000. Your just making your life harder for yourself, you really are.

Aside from the 30 sec delay I see in using the 2 different platforms, the fact its unregulated is even worse and as trading is so 'mainstream' these days, so many people get an SB account and they are laughing.

Its all from personal experience but I could go on for ages with lists of problems I do not have with direct access.

Besides, spread betting is NOT trading, trade in the real world with other traders and lose/make your money with other traders. Don't help pay for SB staff christmas bonuses.

 

[Uphios]

This may make a good subject for your poll Wasp.

I also use CMC SB and find them O.K. to good. Prefer Metatrader charts which they don't do and I usually place my stop entry before my actual entry, if that makes sense. I like £1 per point on whatever currency rather than 1 lot of 10000 on EurJpy where the margin is held in Euros but the wins/losses are in yen. Weird if you ask me. Execution time can be a problem on the crosses but usually excellent on the majors.

 

[Crawsthorne]

Hi Crawsthorne and welcome,

IMO nowadays, I would say now, immediate, I would not recommend using an SB to anyone at all, whether new or old, trading £1pp or £1000. Your just making your life harder for yourself, you really are.

Aside from the 30 sec delay I see in using the 2 different platforms, the fact its unregulated is even worse and as trading is so 'mainstream' these days, so many people get an SB account and they are laughing.

Its all from personal experience but I could go on for ages with lists of problems I do not have with direct access.

Besides, spread betting is NOT trading, trade in the real world with other traders and lose/make your money with other traders. Don't help pay for SB staff christmas bonuses.

Thanks for that. I rather felt that brokers would be out of my league. As someone who has already done the resarch, which broker would you recommend for smallish trades?

Thanks again.

 

[wasp]

Thanks for that. I rather felt that brokers would be out of my league. As someone who has already done the resarch, which broker would you recommend for smallish trades?

Thanks again.

You can trade EFX with as little as $400. You get Quotetracker feed combined so your chart and LII and prices match exactly. The comm's are $5 per $100'000 but well worth the as you are cutting out the problem of trading the bookie first and actually trading the market.

HTH

Its such a shame that so may newbies think they can't use a real broker when they start out so have twice the pressure when it comes to learning and those that blow 5k accounts don't put it in the market, they put it in the SB's skyrocket. Wish I had never used one.

 

[Crawsthorne]

You can trade EFX with as little as $400. You get Quotetracker feed combined so your chart and LII and prices match exactly. The comm's are $5 per $100'000 but well worth the as you are cutting out the problem of trading the bookie first and actually trading the market.

HTH

Its such a shame that so may newbies think they can't use a real broker when they start out so have twice the pressure when it comes to learning and those that blow 5k accounts don't put it in the market, they put it in the SB's skyrocket. Wish I had never used one.

Thank you very much. I shall look into it tomorrow.

 

[beauty1]

Algorithmic Trading advisors (aBout 1000 %)

Hallo Dc2000,

vielleicht können Sie mir mal Ihren Eindruck von der Firma sagen, www,algorithmictradingadvisors.com. Der zuständige Herr heisst Bill Reid. Lassen Sie sich einmal die Performancenachweise und die Due Dilligence zusenden. Ich wohne in germany, kann mir keinen Eindruck machen.

Ich würde mich sehr über Ihre Hilfe freuen.

Mfg
Ralf Kasper aus Oberhausen/germany

 

[Offshore Trader]

Morning everyone. We must be due for a big day soon. Data from the UK 8.30 and US 1.30 might provide the spark. My hunch is for Cable to continue to the downside

 

[wasp]

Up or down, can't say I'm bothered but something! Just 50 pips or more in one simple move'd be nice... 200'd be nicer!

 

[Offshore Trader]

...and having said that I am now long on the break above 8700!