pineappleman
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Sounds like SLM have done you a favour and saved your soul from forex robots. In the long run, if you learn how to trade yourself, you'll thank them.
Sounds like SLM have done you a favour and saved your soul from forex robots. In the long run, if you learn how to trade yourself, you'll thank them.
Baby Clanger
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pineappleman
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It'll be worth it, for me anyway, coz whatever it does sh*t out I'm going to attach to MT4 and run it 24/7. I'll call it the "FXSh*tBot" - 98.7% accuracy***. You can't beat it. Somebody out there will buy it for $300.
*** Disclaimer: All results quoted are hypothetical, back-tested results.
magicdogsbrain
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SLM - would you consider offering a premium spread betting account where you provide ECN like connection to liquidity and you do not create the market and/or act as a counter party?
I think this would be a big innovation almost equal to spread betting on MT4. Perhaps it could charge a commission or maybe have a minimum balance and/or minimum trading volume requirement? I would be very interested in that (not sure if it is legal or possible).
Everyone - why don't other companies offer spread betting on MT4? Is it because then you would have clients running EA's and some of these pesky EA's can be profitable?
I think this would be a big innovation almost equal to spread betting on MT4. Perhaps it could charge a commission or maybe have a minimum balance and/or minimum trading volume requirement? I would be very interested in that (not sure if it is legal or possible).
Everyone - why don't other companies offer spread betting on MT4? Is it because then you would have clients running EA's and some of these pesky EA's can be profitable?
pineappleman
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It's because traditionally SB companies have been cowboys who use bad data/spreads to win. This meant they like to do this on their terms, ie: their own custom easy-to-manipulate platforms. Things are changing in the industry, thankfully. I also think introducing MT4 into SB was difficult for a variety of programming reasons. These two factors have probably turned companies off of the idea in the past. SLM have done very very well by doing what they did.
Also, your suggestion of a premium SB function where you pay commission for ECN access to markets wrapped up in a spreadbet is a great idea. I hope more companies will do this. ProSpreads have kinda done this on both their futures and spot FX offering. But you need a larger starting account so it's not for newbies.
Yes there is surely a gap in the market for an ECN spreadbet option, commission based, and for newbies/smaller accounts. SLM - why not be pioneers again...?!
Yes there is surely a gap in the market for an ECN spreadbet option, commission based, and for newbies/smaller accounts. SLM - why not be pioneers again...?!
And while you're at it, reduce your Dow spread to 1pt, please.
pineappleman
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And while you're at it, reduce your Dow spread to 1pt, please.
Ross, joking aside, does that actually work?
I mean, 1 point Dow is a loss-maker for brokers/bookies, so how can this work long term? Surely they (the 1pt Dow brokers) have to be screwing around somehow?
Edit: 100 posts, lol I'm a senior member now it seems
That's what we thought when City introduced it about a year ago, but they would have stopped it by now if they lost money on it. Execution is as good or better than the 2pt spread SBs.
magicdogsbrain
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Commissions ! shut up
I WANT FREE TRADING
Was that you outside the bureau de change with a baseball bat
Potential stop hunting in WTI (Crude Oil) by Smart Live Markets in thin markets?
Look at the attached chart, and compare it with a chart from another source (IG). You do not find such movement in IG chart, the price clearly is marked below good support at 97.
There is nothing unusual about this, all brokers do it.
It is our responsibility to protect our money, so:
-> It is important not to keep stops at obvious points,
-> give stops more room during thin markets e.g. Sydney open.
Look at the attached chart, and compare it with a chart from another source (IG). You do not find such movement in IG chart, the price clearly is marked below good support at 97.
There is nothing unusual about this, all brokers do it.
It is our responsibility to protect our money, so:
-> It is important not to keep stops at obvious points,
-> give stops more room during thin markets e.g. Sydney open.
Attachments
Mornington Crescent
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SLM seem way off the pace this morning
ftse at 5992/3
cmc at 5996/8
ftse at 5992/3
cmc at 5996/8
pineappleman
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arb it!!!!!!
pineappleman
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Commissions ! shut up
I WANT FREE TRADING
No such thing!!
You saying you would rather pay a random spread than a fixed commission (giving u almost no spread)...???!!!!!! What on earth...???!!!
pineappleman
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Wow.
All I can think is if an account was growing to a point you started trading the Dow at high stakes there must be a problem at some point. I can see how a bookie broker would be able to offer a loss making spread up to a point but after it gets too big there has to be a way they stop offering it.
Whichever way you look at it, 1 point Dow must be loss making, or at the very best break-even for the broker.
I very much doubt that, because most people lose, no matter how narrow the spread.
Mornington Crescent
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SLm at 6012/3
CMC at 6017/9
CMC are playing it at 1pt either side of the index
CMC at 6017/9
CMC are playing it at 1pt either side of the index
It could also be an overall improvement for the company. As you pointed out, they might not even make any money on this specific instrument (they probably do anyway due to a slight bias against you), but on other instrument they might gain a lot due to the increased number of clients trading these instruments. But I agree to a point, the 1 point spread is an amazing offer (also on the Dow future) that non of the other (except Spreadco on the Dow rolling daily) have been able to match.
