Heads Up - ETX 100 quid

[ETX Capital]

The minimum trade size with ETX is £1pp. You have little chance ''cutting it'' with just £100. After all a 100 tic/pip draw down and your out, game over.

Rossini

Thanks for your post.

On FX you can trade our majors from 50p per point and increase the bet size in increments of 10p per point.

On some of the minor FX pairs the minimum bet size starts at just 10p per point.

Happy New Year to everyone on T2W and I hope that 2010 proves to be a successful year for us all.

Thanks, Rob.

 

[Rossini]

Ambrose Ackroyd; Your assuming that I was taking about a 200 point SL. I wasn't. I was saying at 50p per point then a 200 point loss over any number of trades is a 100% DD!!

Lets say you had a 40 point SL @ 50p per point. If its hit that's a DD of 20% in one trade. Its indisputable, £100 for starting capital and trading at that size means you are under capitalised.

 

[Ambrose Ackroyd]

£100 for starting capital and trading at that size means you are under capitalised.

Yes, but it doesn't mean that you cannot win from this starting position.

See earlier posts.... gamma's I think.

I have traded from £ 100 before for fun and have built up substantial accounts.

It depends how carefully and what style you trade I think.

 

[counter_violent]

You guys may want to take a look at the 10p gold thread in Journals...this is run on ETX and doing very nicely.

 

[Rossini]

Yes, but it doesn't mean that you cannot win from this starting position.

See earlier posts.... gamma's I think.

I have traded from £ 100 before for fun and have built up substantial accounts.

It depends how carefully and what style you trade I think.

Of course, being skilled or lucky can make you turn very small amounts into more worth while sums.

 

[HawkTrader]

Ambrose Ackroyd; Your assuming that I was taking about a 200 point SL. I wasn't. I was saying at 50p per point then a 200 point loss over any number of trades is a 100% DD!!

Lets say you had a 40 point SL @ 50p per point. If its hit that's a DD of 20% in one trade. Its indisputable, £100 for starting capital and trading at that size means you are under capitalised.

Yes, but you should only really be using it to test the platform or a high winning percentage method.

 

[Jack Hughes]

Losing £100 of ETX's money is actually 0% drawdown.

 

[gamma]

The best way to manage a 100 pound account is to begin with only trade smaller time frames 5/15 minutes look for almost perfect entries in the direction of the bigger trend 1hr and 4 hr
watch the trade closely with tight stoploss and pray to the Gods of good fortune.
If nothing else its cerainly a good exercise in discipline

 

[Jack Hughes]

The best way to manage a 100 pound account is to begin with only trade smaller time frames 5/15 minutes look for almost perfect entries in the direction of the bigger trend 1hr and 4 hr
watch the trade closely with tight stoploss and pray to the Gods of good fortune.
If nothing else its cerainly a good exercise in discipline

Alternatively, just pocket the £100 by making a trade and going the opposite way in a 'real' account, then close when the free money total reaches zero.

 

[gamma]

Yes, however doing a trade in the opposite direction in a real account is not a straight line equation.
the balance between the 2 accounts will yoyo.
Besides using the above strategy to gain a 100 pounds is very limiting not worth the effort.
Trade it well build it up to 500/600 hundred then take the money,
will pay for a nice weekend break.

 

[advfntrader]

if you can take it to 500, then you can take the 500 to 2500, then onwards though...

 

[ETX Capital]

I agree that the platform works well - and so do the charts, apart from the missing bits. But how about narrowing the spreads, Mr ETX, which are currently twice as wide as available elsewhere on major indices?

Jack

Thanks for your post. We recognised that we needed to cut the spreads on some of our indicies to become more competitive with the other spread betting companies and I am very pleased to be able to tell you that we have now managed to do this.

Our Dow has been cut from 5 pips to 3. The FTSE from 2 to 1.5. S&P from 5 pips to 3 and the Dax from 2 to 1.5.

All of your comments are welcome, I spend a lot of time looking at T2W and it matters to me what you all have to say about us. If there are suggestions for improvements in any area of our website or platform then they will be taken on board and implemented where ever possible.

Thanks again for all of the posts...

cheers, Rob.

 

[barryb]

if you can take it to 500, then you can take the 500 to 2500, then onwards though...

See...it's easy peasy this trading stuff.

 

[barryb]

Jack

Thanks for your post. We recognised that we needed to cut the spreads on some of our indicies to become more competitive with the other spread betting companies and I am very pleased to be able to tell you that we have now managed to do this.

Our Dow has been cut from 5 pips to 3. The FTSE from 2 to 1.5. S&P from 5 pips to 3 and the Dax from 2 to 1.5.

All of your comments are welcome, I spend a lot of time looking at T2W and it matters to me what you all have to say about us. If there are suggestions for improvements in any area of our website or platform then they will be taken on board and implemented where ever possible.

Thanks again for all of the posts...

cheers, Rob.

I have an issue with the account manager that I have been asigned, his manner on the phone is obnoxious and confrontational. Even though the platform is half decent, unfortunately as this is my only personal contact with the firm, it is unlikely i'll be looking to use them for margined FX or CFD's.

 

[Jack Hughes]

Jack

Thanks for your post. We recognised that we needed to cut the spreads on some of our indicies to become more competitive with the other spread betting companies and I am very pleased to be able to tell you that we have now managed to do this.

Our Dow has been cut from 5 pips to 3. The FTSE from 2 to 1.5. S&P from 5 pips to 3 and the Dax from 2 to 1.5.

All of your comments are welcome, I spend a lot of time looking at T2W and it matters to me what you all have to say about us. If there are suggestions for improvements in any area of our website or platform then they will be taken on board and implemented where ever possible.

Thanks again for all of the posts...

cheers, Rob.

Good, but you probably know some of the others offer 1pt DAX/FTSE/EU and 2pt Dow.

 

[barryb]

As a follow up to my previous post, Rob from ETX called me today to apologise for the contact i'd had with the to55er that called me up from his company. He gave me his direct line for future questions/dealings and was very helpful.

 

[Black Swan]

As a follow up to my previous post, Rob from ETX called me today to apologise for the contact i'd had with the to55er that called me up from his company. He gave me his direct line for future questions/dealings and was very helpful.

 

[Paul-B]

Hey, Rob, are you planning to do another £100 offer? I passed your last offer to a mate of mine who signed-up at the end of December and got the £100 in his account, but he had to go into hospital (broke his leg palying football, silly sod!) and when he came out and logged in to his account the cash had disappeared. Called your helpline and was told, rather rudely he says, that the money was taken out as he hadn't used it and it was just tough luck, there was nothing she could do about it.

I had been showing him your platform, which I still think is one of the best out there, and he had become quite familiar with it.

Cheers.

 

[ETX Capital]

Hey, Rob, are you planning to do another £100 offer? I passed your last offer to a mate of mine who signed-up at the end of December and got the £100 in his account, but he had to go into hospital (broke his leg palying football, silly sod!) and when he came out and logged in to his account the cash had disappeared. Called your helpline and was told, rather rudely he says, that the money was taken out as he hadn't used it and it was just tough luck, there was nothing she could do about it.

I had been showing him your platform, which I still think is one of the best out there, and he had become quite familiar with it.

Cheers.

Hi Paul

We have a brand new offer due to be launched in March which we hope will be as well received as the £100 top up last year was. I'll put some more details on here just as soon as I can.

I'm sorry to hear about your friends problems with us (and his leg!). Our customer service team are usually really helpful and we receive a lot of compliments about them. I can understand though that every now and then some clients can experience issues that don't get resolved quite as they'd like or expect. Let me try and put this particular issue right.

The £100 top up expired at the end of 2009, your friend clearly has some mitigating circumstances though so i'd be delighted to get his account topped up with £100. Would you mind asking him to make contact with me and I'll make the necessary arrangements?

Hope everything else is ok.

Thanks for the post.

Best, Rob.

 

[Black Swan]

keep up Rob, everyone thought that 100 quid was a govt style trust fund for kids that you'd give interest on each year...