Spreadbetting The Forex

Okay guys, looks like we have uncovered a bit old pitchfork interest, tonight i am under the influence of Jagermeister but tomorrow i am going to get this thread underway as soon as i am in a free trade. Ghitz i have a few qezzies for you about e*trade forex as i spread bet the same company. Max77 make sure you look the thread up tomorrow, i can see why your pitchfork seems a bit vaguish ( the dotted one) but the other one looks very good. I need to show you another indicator and it will amaze you and really help with the plotting. Anyway speak to you all tomorrow.

Lyndon

Lyndon,
shoot with questions. regarding the pitchfork that hasnt formed, agree, have to wait. drew it based on 4hr charts, not daily. been using zigzag indicator to assess relevant swings, but would be great to use the indicator you mention.

see u tomorrow
g

Hello,

Hope you don't mind a newbie question. I currently use finspreads.com for trading and, being a novice, found last Friday (NFP day) to be a most bizarre day. At about <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:time Minute="25" Hour="13">13:25</st1:time> (GMT) I managed to place two orders - i.e. the basic straddle technique, a BUY and SELL on GPBUSD, using the online platform, both with StopLoss in place.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

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I thought I had left enough room around what I considered to be the mid-point of the straddle going into <st1:time Minute="30" Hour="13">13:30</st1:time>, but had not anticipated the full thrust of the initial upward spike. <o></o>

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Outcome: BUY was triggered and automatically cancelled my SELL! <o></o>

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I was sure I had placed the two orders independently, not as a ONE-CANCELS-THE-OTHER, and when I phoned the traders to find out why my sell had disappeared they seemed more confused than me. <o></o>

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Anyway, further investigation reveals that finspreads.com do not allow two simultaneous orders to be running on the same contract. So, if you place such orders and one triggers, it does automatically cancel the other order. I couldn't find any reference to this behaviour in their literature, and to be fair, after I expressed my frustrations they did re-instate the SELL, so I actually ended the day in profit. <o></o>

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My question is this: is this multiple 'order behaviour' peculiar to finspreads or do all spread brokers impose similar limits.<o></o>

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With this mechanism in place at finspreads it makes it more difficult to apply the straddle technique in very volatile markets.<o></o>

<o></o>

Thanks for any feedback!<o></o>

If you try to trade the news with Finspreads you will lose. Spread betting companies are even worse than retail forex brokers and Finspreads is the worst of the lot. Did you really think you could make money from a bookmaker?

i do trade fx with finspreads and do ok, as well as with other spreadbet companies. But... dont try and trade the news, ever. The hunting of stops is impossible to beat and should be avoided. i traded the NFP with finspreads on friday but got in 7 mins after the announcement and things have settled. its the only way to do it.

for those like me that dont have sufficent funds to open a decent forex account then spreadbet is a good way to start i think, but the risks are multiplied many timesand you need to take only the very best of signals that you are sure of.

hi rockrat you should take a look at cmcmarkets spreadbetting platform,looks like there the best...

faq123

I had the same experience with Capital Spreads. Because I wanted both buy and sell orders to be in place in case the market turned I ignored the OCO thing and independently placed the buy and sell orders for the gpb/usd.

The system completely ignored my second (sell) order, as if I hadn't done anything at all. So it would appear it's the same as Finspreads. Another annoying thing about Capital Spreads is they close down overnight. Claiming to let you trade FX 24/5 they then close down at 9pm. You can place an order, but if the price happens to kick in before they open at 7am, they fill it, but at the price its reached on their opening. I've had one or two orders filled 20 pips away.

Do Finspreads stay open all night?

The peculiar thing is that internet gambling is illegal in the US but legal in the UK and non taxable. Yet the US has all these state of the art trading platforms and the UK has nothing even remotely approaching. I can't figure it out.

I'm currently looking for a good FX trading platform that accepts UK debit cards. Credit cards are charged as a cash withdrawal and bank wires cost a lot. I've found the big drawback of using a US trading platform is getting money over there and then, if things go well, getting money out.

Any ideas would be welcome.
max

Hmm I was rather hoping I could make some money. In the worst case scenario finspreads (and others) appear to offer a low level, tax free entry into forex trading. However, I'll let you know if they kick me out when I make my first million

Actually, I traded the GB Consumer Confidence on finspreads, using the same strategy, earlier in the same week without any problem. Of course there was not so much volatility knocking around. I suppose in this case the cancelling process worked in my favour. (Remember I'm new to this and learning the platform as well.)

Thanks,

thanks for advice and link!

To be honest, I wouldn't even try straddling a news release, you'll lose everytime!!

I always trade the news manually, sitting in front of the PC, monitoring the chart for the pair.
Make sure you have a clock onscreen that is accurate to the second, really important.
All I do is set up my platform and chart about 2 mins before, wait with my finger over the Buy/Sell button, check my clock and stay clear of any false spikes before the allotted time (NFP on Friday!). As soon as my clock shows the time for release the graph starts to move and I hit the buy/sell button and hope to get in first time!!

Regards

DS

Are they the best? Maybe, certainly one of the best (of a bad bunch!)
Good platform....yes.
Stable platform....yes, unlike other SB's I've heard about.
Pratical to trade NFP and other news, maybe, sometimes.

BUT

Do they play silly games with the prices....yes. On those instruments where they advertise a narrow spread they do keep to it, but they find other ways to b.....r you about.
It will get worse as you get better.
They claim they want you to make money, because they make money from the spread, and they're always fully hedged in the underlying market....Pull the other one.

However

It is possible to make money with them. As you gain in experience you will find ways to work around some of their little tricks. (Wont say more, never know who's reading this thread. LOL).

Regards

Jami

PS. I've been trading with CMC for five years now. Down substancially overall but that's been mainly my fault, not theirs! Would write a book about it, but its a bunch of very familiar problems.

Hi,

With finspreads you get market info per contract, so, for example, with trading hours specified, we have:

<TABLE class=MsoNormalTable style="BACKGROUND: white; WIDTH: 100%; mso-cellspacing: .7pt" cellSpacing=1 cellPadding=0 width="100%" border=0><TBODY><TR style="mso-yfti-irow: 0; mso-yfti-lastrow: yes"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Market Information : Rolling Spot: <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:City><st1lace>Sterling</st1lace></st1:City> / Dollar <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>


</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD></TR></TBODY></TABLE>

<o> </o>

<TABLE class=MsoNormalTable id=Table1 style="BACKGROUND: white; WIDTH: 100%; mso-cellspacing: .7pt; mso-padding-top-alt: 0cm; mso-padding-left-alt: 0cm" cellSpacing=1 cellPadding=0 width="100%" border=0><TBODY><TR style="mso-yfti-irow: 0"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Telephone Trading Hours : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <st1:time Hour="0" Minute="1">00:01</st1:time> - 23:59<o></o>

</TD></TR><TR style="mso-yfti-irow: 1"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Internet Trading Hours : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <st1:time Hour="0" Minute="1">00:01</st1:time> - 23:59<o></o>

</TD></TR><TR style="mso-yfti-irow: 2"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Our spread : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"><TABLE class=MsoNormalTable style="WIDTH: 100%; mso-padding-alt: 0cm 0cm 0cm 0cm; mso-cellspacing: 0cm" cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR style="mso-yfti-irow: 0; mso-yfti-lastrow: yes"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> 3 <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; WIDTH: 10%; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt" width="10%"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Spreads may vary according to the underlying market spread and conditions<o></o>

</TD></TR></TBODY></TABLE><o></o>

</TD></TR><TR style="mso-yfti-irow: 3"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Minimum Gtd Order Distance : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> 100.00<o></o>

</TD></TR><TR style="mso-yfti-irow: 4"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Gtd Order Charge : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> 10.00<o></o>

</TD></TR><TR style="mso-yfti-irow: 5"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Margin Factor : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> 250.00<o></o>

</TD></TR><TR style="mso-yfti-irow: 6"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Bet per : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"><o> </o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> 0.0001<o></o>

</TD></TR><TR style="mso-yfti-irow: 7"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Contract Months : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> N/A<o></o>

</TD></TR><TR style="mso-yfti-irow: 8"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Last day of Trading : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> N/A <o></o>

</TD></TR><TR style="mso-yfti-irow: 9; mso-yfti-lastrow: yes"><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt">Basis of expiry : <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0.75pt; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> <o></o>

</TD><TD style="BORDER-RIGHT: #e7d8dc; PADDING-RIGHT: 0cm; BORDER-TOP: #e7d8dc; PADDING-LEFT: 0cm; PADDING-BOTTOM: 0cm; BORDER-LEFT: #e7d8dc; PADDING-TOP: 0cm; BORDER-BOTTOM: windowtext 1pt dotted; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: dotted windowtext .75pt"> NONE<o></o>

</TD></TR></TBODY></TABLE>

I'm glad to see that I'm not the only one that was affected by this cancelling operation.

With respect to finspreads in general, I've had a dormant account with them for quite some time, but only recently started trading Forex. I initially opened the account to trade futures several years ago, but life took me over.

Anyway, they have treated me fairly and seem fair enough. Of course it is early days. One thing I also noticed following the NFP announcement was the amount of time it took the traders to fill orders, it was almost 5 minutes before my screens showed the results of my trades.

I'm also on the lookout for better platform options.

Thanks,

So you trade one way or the other?

With respect to NFP, at approximately 13:30 the graph move appeared to be instantaeneous i.e. an upward spike of approx 30 pips followed by a downward gap of 70 pips, or thereabouts. Also, all finacial systems appear to become clogged up due to the volatility. That being the case, I'd be interesested to know how you get in on that glitch, if that's what you mean.

Regards,

Yes, I always only trade the one way or the other.
The downward spike moved the 80 odd pips in about 10-20 seconds, so you need to try and get in during this time, the full move for the additional 20 pips or so lasted a bit longer!
That's why its so important to have a super accurate clock, the NFP spike upwards happened about 10 seconds before 1330hrs, probably the result of rumours etc, but as soon as 1330hrs hit you know the spike is for real and based on the actual data.
It's pure luck getting in at the start, you usually get a few requotes, but doing it manually keeps you in control at all times.
The problem with setting up a market order beforehand is this.

I tried it a couple of times on two of the more minor news releases and got burnt both times, this is what happens with the spreadbet brokers:

Say the market moves down 40 pips, your sell order is triggered at say 20 pips down, great, but when that happens you can’t do anything with the trade and you're sitting there waiting for it to be filled, the market reverses back up, fills the order and you make an instant loss!!!!! I’d be interested in knowing if anyone else has had the same experience.

Hence why I always trade the news manually.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

Regards

<o></o>

DS

The thing with Capital is they also double their spreads overnight!!!!

But I would say they are good with trading the news, they're the only Spreadbetting company that let me place an order at the start on NFP day, twice, maybe I’ve just been lucky on both occasions!

I’ve never managed it with Finspreads unfortunately, but at least they are open 24/7, except for a period of about 10 mins at <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:time Minute="0" Hour="0">midnight</st1:time>, I assume when they close and open the markets.
Haven't tried news trading with CMC markets yet tho, but don't like their platform, bit long winded to set/change stops and limits and can't access the platform via the web (installed on your PC), but otherwise they have a great choice of instruments and their spreads are excellent.
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

Regards

<o></o>

DS

Does anyone know which spreadbetting companys covers the widest range of commodities ?

Naj

Hi Naj --- Finspreads have a very comprehensive & active range of Commodities from Metals to Softs -------- Bramhall 17

I was with CMC for one year, but when I was trying to trade 5M TF I couldnt just keep up with their little price tricks. Now, when Im trading 4h and daily´s, my performance improved. However, Im not with them anymore

yeah, and one more thing that definitely made me go away are their stophunts. Maybe someone tells me, that there were only normal spikes. I say BS!!! If there are spikes on 4-5 different datafeeds, then it is OK as far as they are approximately of the same length. But if CMC has 20-30 pips longer spikes..that is NOT OK with me. I experienced it live and made my decision, but suit yourself...

Happy Trading

Bluefish

P.S. as for the stability of their platform - yes, it doesnt freeze.
as for getting in the market at news time (not NFP, only some small UK Retail Sales or something like that - impossible at the price on your order ticket!!!)

Hi Bramhall,
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
Thanks for the info. I'll have a look at their website.<o></o>

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I've tried a demo of capital spreads (CS) and CMC. I think CS has a clean and easy to use web interface however I am not impressed with the CMC platform so far. I suppose all SB companies use tricks to make you part with your money however I think on longer timeframes (daily & longer), which is where I trade, the effects of price bias, stop hunting etc are tolerable. I personally do not use stops with SB companies ( I use mental ones) as I have found that inevitably they nearly always hunt for them. I only have 2 or 3 positions open at once so it is easy for me to keep track of my trailing & stop losses. <o></o>

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Regards,<o></o>

Naj<o></o>

i am with cmc and am up on my account 12% from 31st Oct.. i use it to spreadbet on forex and use the daily fozzy as my system.. a learner and so far i am happy with cmc..

i have read the posts here about issues with spreadbet platforms.. in my opinion these issues are no different to the gripes that people have with forex brokers (see forex broker thread)..

i think the only disdvantage cmc has as compared to a forex broker is the lack of trailing stops..

but i havent done extensive research so i might be wrong.