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...as a long term client of CMC Markets, have to say that I never run into problems with them; as far as cashing out is concerned, e-mail and the cash is in the account the next day
...Never, Never, work with stop losses on a market maker platform, as you are creating your own counterparty and because you never know the spread or liquidity in the markets at the Open or during periods of future trading etc, your stop loss is like digging your own grave;
...instead of a stop loss, it is better to counter, for example, a long position in equities with a short position in an index; markets are extremely dynamic, volatile, and 70% of the time not trending; your positioning on market maker platforms needs to reflect that reality;
...finally, before ever attemting to make a profit against a marketmaker, your positioning MUST be backed up by extremely reliable FORECAST probabilities
Kind Regards
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 Originally Posted by ananda77
...as a long term client of CMC Markets, have to say that I never run into problems with them; as far as cashing out is concerned, e-mail and the cash is in the account the next day
...Never, Never, work with stop losses on a market maker platform, as you are creating your own counterparty and because you never know the spread or liquidity in the markets at the Open or during periods of future trading etc, your stop loss is like digging your own grave;
...instead of a stop loss, it is better to counter, for example, a long position in equities with a short position in an index; markets are extremely dynamic, volatile, and 70% of the time not trending; your positioning on market maker platforms needs to reflect that reality;
...finally, before ever attemting to make a profit against a marketmaker, your positioning MUST be backed up by extremely reliable FORECAST probabilities
Kind Regards
Excellent advice.
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Originally Posted by ananda77
...as a long term client of CMC Markets, have to say that I never run into problems with them; as far as cashing out is concerned, e-mail and the cash is in the account the next day
Ditto for me - no problems getting cash out or solving technical issues...
A happy CMC user... 
Death will be reality, Life is just an illusion.
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Originally Posted by ananda77
...as a long term client of CMC Markets, have to say that I never run into problems with them; as far as cashing out is concerned, e-mail and the cash is in the account the next day
...Never, Never, work with stop losses on a market maker platform, as you are creating your own counterparty and because you never know the spread or liquidity in the markets at the Open or during periods of future trading etc, your stop loss is like digging your own grave;
...instead of a stop loss, it is better to counter, for example, a long position in equities with a short position in an index; markets are extremely dynamic, volatile, and 70% of the time not trending; your positioning on market maker platforms needs to reflect that reality;
...finally, before ever attemting to make a profit against a marketmaker, your positioning MUST be backed up by extremely reliable FORECAST probabilities
Kind Regards
Yes I also had some very close calls with having stop losses. Esp when the market just opens there can be some big spreads.
Now I monitor my trades closley and have my stop loss on paper.
I am only trading stocks that mostly on NZX and ASX thou. Might be different story if on forex
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Member
There is a rumour that AxisODL out of Australia will be operating in NZ soon.
I have used CityIndex, CMC and Finspreads at various times since 2003.
Learn the tricks and make your own bed to lie on.
Indices trades are worth the effort and Forex momentum.
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Originally Posted by bung5
Now I monitor my trades closley and have my stop loss on paper.I am only trading stocks that mostly on NZX and ASX thou. Might be different story if on forex
NZX stocks are horrible for spreads...i.e during the last round of volatility we had PRC Buy 90 sell 98...
Disclaimer: Do not take my posts seriously. They are only opinions.
AMR has sold all shares and is pursuing property.
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What will this mean for CMC market and CFD?
Regulator to tighten CFD rules
THE corporate regulator is moving to close a legal loophole that is potentially putting hundreds of millions of dollars at risk in trading instruments that allow investors to make bets on the direction of the share, currency and commodity prices using borrowed funds.
http://business.smh.com.au/business/...0823-ev2e.html
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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Too little, too late, but still a baby step in the right direction. NZX is sleeping, as usual
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Member
Don't see any probs with CMC at moment after 2 weeks.
Just done some research to cover a worst case like Sept 11.
With a 2000 a/c I would have say 2 longs and 2 shorts open but
the outcome would depend on luck in which stocks were held as
some fell more than others. The a/c could still fall by $1500 in
which case you may be liquidated and asked to bring a/c back up
to at least $1000.
To hedge with a short index position would certainly provide some
peace of mind but the gains on longs would simply (maybe) be
matched by losses on shorts - so what's the point. Surely one must
take a risk to gain a reward.
However, if I made the mistake of having all longs even tho they
amount to half or less my account, the total loss in an extreme
case would be about $4,500 or twice the account size.
Perhaps one must simply take a risk but have plenty set aside
in case - then start again. Correct me if I'm wrong here.
George
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...market risk can not totally be eliminated and risk is necessary for success, but it is good to do a conscious risk assessment before trading
...in general, I would not START to design a trading system using a one-off event like 9/11, but would rather base the system on usual day to day trading
...I use the derivative market ONLY to hedge positions in the original market; and for trading, hold ONLY positions in the original market that follow an index very closely; then design a hedge with one or two indices, starting for example with a 5% hedge on equity as the market becomes top heavy, increasing/decreasing the hedge as necessary; and as a sideshow, it is always facinating to try to beat your own hedging, but that is another matter;
...remember and it is something not often mentioned:
-MOST MARKET PARTICIPANTS SELL AT THE BOTTOM and
-MOST MARKET PARTICIPANTS BUY AT THE TOP and
-A MAJORITY OF TRADER (APPROX: 70% (+) LOOSE
???ever wondered why financial institutions own the biggest buildings in cities??? (they do not necessarily have the better traders, they just have tons of peoples money who think, they are better traders; and the supposedly better traders DO STUFF IT UP ON A REGULAR BASIS BUT THEN THE GOVERNMENTS (people again) BAIL THEM OUT WITHOUT ANY REPERCUSSIONS FOR THEM)...in short:
----VETTERNWIRTSCHAFT-----
...so take care and be happy to pick up little pieces in front of the steamroller
disclosure: average return over the last 15 years in the trade = net 20% (yes...that's all)
Kind Regards
Last edited by ananda77; 31-08-2009 at 02:12 PM.
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