Heads Up - ETX 100 quid

Friday 18 Sept 2009

Morning Traders

Today I will be letting my Demo Acc run to close it at 4.30pm

Today I will be trading on ETX Capital with a live balance of £100.50 trading only on EUR/USD. You can see the link above to go and get your £100, I traded last night but was tired and market on EUR/USD was slow nicked i pip for 50p.

I will trading 50p per pip thats a £15 margin, I will be posting here through the day.

EUR/USD at 07.28 1.4727

My buy line is 1.4715 but looking for any change in the trend today, R line 1.4750

You can find my posts at:
http://www.trade2win.com/boards/trading-journals/73616-cmc-spreadbetting-500-boom-bust-22.html
 
Becarful when you press buy/sell one click it gives you a 160 pip stop which uses the max margin if you adjust to 20 pips you get min margin.
 
wahey!
spoke to CustServ 5 mins ago.
I have £100 to play with.
will start Monday.
 
Just called ETX to ask about the Margins.

They you can use the one click Buy/Sell and even though it will take all you funds you have time to reduce the auto stop which will reduce the margin and free up capital.

Trader said new software coming middle October to set your auto stop before click not after as it is now. So just remember when clicking go to order book to reduce your stop.
 
Trader Review

Started the day £100.50 and ended the day down 50p to £100.00

EUR/USD - 50p per point

1.470 BUY stopped 1.4680 -£10.50
1.4681 BUY closed 1.4698 +£8.50
1.4700 SELL stopped 1.4715 -£7.50
1.4705 SELL stopped 1.4725 -£10.00
1.4726 SELL Limit 1.4700 +£13.00
1.4705 BUY Limit 1.4717 +£6.00

3 Loses =£28.00
3 Wins =£27.50

When your in a position the charts don't update as fast as when your not in a position ? CONSPIRACY

Had a couple of slow moments trying to change stops and limits on there sofware but all in all a day to get used to the software. The chart signals for entry/exit are very good but you are always 5-10 points behind the signal.
Loaded up my CMC platform to use the charts to cross reference my entry/exit points with the ETX charts.

Will try again Monday to improve the Acc Bal.
 
ETX Capital

EUR/USD took profit 1.4680 +£13.00
Down on the day -£30

Acc. Bal £70

How is everyone else doing ?
 
The offer expires 30th September 2009

Free £100 account credit to test drive our new ETX Capital spread betting platform
 
Now on a SELL or bust position:
SELL 1.4790 stop 1.4829 £2 pp

Talk and indicators of 1.4850+ if past 1.4820 which it touched today, R line seems to be 1.4800 but I feel a big sell off coming back to 1.4715 at least and maybe lower. The question can I get the short end before a BULL push to my margin call at 1.4829. This leaves £1.75 in account so stop just in place with all magin used !
 
I was busted as I fouled up an order - I traded cable short and made a little only to realise after the event, that like CMC, the stop order stays in the market!

So I left the account for a couple of days expecting to put on a trade and when I logged in tha balance was at £5.57 - I called to ask where the funds had gone and they told me I had instigated a long trade in cable. Denied it etc then they reminded me that stops are left in the market if you sell or buy at market (ie not cancelled) :(

Guess this is what comes of trading with IG for years - best SB company in my eyes!
 
grimweasel said:
I was busted as I fouled up an order - I traded cable short and made a little only to realise after the event, that like CMC, the stop order stays in the market!

So I left the account for a couple of days expecting to put on a trade and when I logged in tha balance was at £5.57 - I called to ask where the funds had gone and they told me I had instigated a long trade in cable. Denied it etc then they reminded me that stops are left in the market if you sell or buy at market (ie not cancelled) :(

Guess this is what comes of trading with IG for years - best SB company in my eyes!
Click to expand...


I trade with IG and when I put in a stop and then close the trade at some other point, the previous stop is taken off in fact all transactions associated with the trade (TP SL OCO) are canceled and its a new clean slate.
 
Stopped out to the pip >:-(

I'm slowly strangling this account. Still cant master picking entry points in real time. Although I am forcig trades tbh.

I like thinking aloud. (as it were)
 
OK, here's my review. Signed up last night for the offer. Got the 'free' £100 into my account just after 9am this morning and have been fiddling around with the platform all day to see how it works. Runs fine in Firefox on a Mac, had a bit of trouble with Safari and now using it with Opera (unsupported browser....!) Everything works properly except for the charts (very slow to appear - pop ups not always working) so I pulled up charts from IG and that was fine. Pricing is quick and so is execution EXCEPT when markets get choppy and volatile. Have managed to make a few quid messing around with 50p/pip currency bets. I like the ability to trade at 50p/pip even on exotic currencies. Also like the rolling daily forex bets - spreads are competitive except for GBPJPY - 8 pips - can get it for 5 or 6 elsewhere.

Platform is nice to use and easy to navigate. Biggest gripe was the usual shenanigans post-Fed - impossible to get trades executed (lack of liquidity at their end) and the dreaded 'CALL' sign on all the forex pairs - so couldn't be as nimble as I can be on other platforms - IG and capital spreads, which I was also running at the same time were rock solid post fed and got all my trades executed instantly.

So, in all - worth a spin. Some good advantages - they have a decent range of markets (including some ETFs - very welcome), and I'll see if I can keep hold of the free £100 and add to it over the next few days.
 
Couple of other noteworthy things - ransquawk and MNI news feed helpful; and equity pricing seemed pretty competitive too - although didn't check it out in detail. Stocks quoted to 2 decimal places - spreads seemed pretty tight.
 
There market news data is very good for option pricing levels...

Completely agree with the news scenario, got a long cable and euro, the only way of exiting was through stops, even then because the price wasn't updating:

1) you couldn't enter any trades without it getting rejected
2) you couldn't exit any trades without it getting rejected

Unfortunately I didn't have limits on, I wonder, If I did that I would get the cable price of 16460, instead of their stop out price of 46 because of lagging feeds.

**** happens, slippage happens.

Overall I'm very happy, I mean, I'm almost at the £300 mark now for nothing. Shame I couldn't enter an Euro short at the top.

I also agree with their platform:

Pros:
Slick Platform
Easy to use and navigate
Able to popout ticker boxes
Range of markets
£100 free margin

Could do better:
Feed time during news
lower the bets on indices or introduce a period in which you can do 50p on indices
Lower spreads on some of the exotics, GJ for example, Volatility has disappeared, real markets are not reflecting 8tick spreads...

If mick is reading this, he should have introduced another competition with the ETX offer. It would have introduced more people!
 
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