CFD trading - anyone playing?

tradetime

Whilst you might as well use guaranteed s/l if it's available and cost effective, I'd say, if you need it then your risk assessment is out the window and you are highly likely to go broke.

Warrants I am aware of, but not imensely familiar with, since they seem a lot like options contracts then I'd say the best way to make money from options trading is by selling them not buying them (not sure you can do that with warrants)

Decadent_Fool

tradetime wrote: »

Whilst you might as well use guaranteed s/l if it's available and cost effective, I'd say, if you need it then your risk assessment is out the window and you are highly likely to go broke.

I wouldn't say I need it, I just like the backup. Yes, I am a scaredy cat

justpaper

Decadent_Fool wrote: »

Accendo Markets - more through being impresed with their research over the last few days, and their reputation, rather than any particularly sound investment judgement on my part

they are GFT, i wouldnt mind moving my fx account to a uk broker, but GFT isnt a ecn, and thats the only reason i wouldnt move to them,

I agree fully with their research info being good stuff indeed..... they got Kathy Lien and Boris Schlossberg working for them they are the co-heads for the fx division and kathy sure knows her stuff, been reading her blog for 2 yrs, and im sure GFT has other dept. covered with skilled people

tradetime

but GFT isnt a ecn

sorry, just being nosey here, but what does this mean?

tradetime

Decadent_Fool wrote: »

I wouldn't say I need it, I just like the backup. Yes, I am a scaredy cat

Nothing wrong with a cautious approach, my point was simply if people think they need them then likely they're using too much leverage.

cepheus

GFT = U.S.-based currency dealer, Global Forex Trading,

ECN is an acronym for Electronic Communications Network. A Forex ECN broker does not have a dealing desk but instead provides a marketplace where multiple market makers, banks and traders can enter in competing bids and offers into the platform either inside or outside the spread, allowing traders to be market makers and have their trades filled by multiple liquidity providers. A trader might have their buy order filled by liquidity provider "A", and close the same order against liquidity provider "B", or have their trade matched internally by the bid or offer of another trader. The best bid and offer is displayed to the trader along with the market book depth and combined available volume at each price. A greater number of marketplace participants providing pricing to the ECN leads to tighter spreads. An ECN charges a small fee for each transaction.

http://www.goforex.net/forex-basics.htm#ECN

I couldn't understand what they are talking about either. Please stop using baffling abbreviations

tradetime

cepheus wrote: »

GFT = U.S.-based currency dealer, Global Forex Trading,

ECN is an acronym for Electronic Communications Network. A Forex ECN broker does not have a dealing desk but instead provides a marketplace where multiple market makers, banks and traders can enter in competing bids and offers into the platform either inside or outside the spread, allowing traders to be market makers and have their trades filled by multiple liquidity providers. A trader might have their buy order filled by liquidity provider "A", and close the same order against liquidity provider "B", or have their trade matched internally by the bid or offer of another trader. The best bid and offer is displayed to the trader along with the market book depth and combined available volume at each price. A greater number of marketplace participants providing pricing to the ECN leads to tighter spreads. An ECN charges a small fee for each transaction.

http://www.goforex.net/forex-basics.htm#ECN

I couldn't understand what they are talking about either. Please stop using baffling abbreviations

Thanx for that, actually I am familiar with ECN's but not Forex trading to any great degree, in stock market trading there a many more brokers than ECN's and it is not relevant whether your broker "runs" an ECN, simply that he gives you access to them by allowing you to route your trades. As I say, I am not overly familiar with Forex, so maybe things work differently than stockmarkets, I was unsure why you considered the fact that GFT is or isn't an ECN to be a problem.

justpaper

sorry to take this off the topic,

cepheus wrote: »

I couldn't understand what they are talking about either. Please stop using baffling abbreviations

i am sorry for and confusion but im 100% for anti-baffling talk, considering the topic if I said Electronic Communications Network im sure people would find it just as baffling, and GFT is just the companys name, Accendo Financial Markets is a trading name of GFT Global Markets UK Ltd., Subsidiary of Global Futures & Forex, Ltd.

tradetime wrote: »

Thanx for that, actually I am familiar with ECN's but not Forex trading to any great degree, I was unsure why you considered the fact that GFT is or isn't an ECN to be a problem.

in forex market there are 2 types of major brokers market makers and ECN,

Market makers (MM) brokers are more like a bucket shop Your trades dont go thru to the Real currency market so you dont get real market prices you get snip they (MM broker) are making money on the price and the spreads, also the MM broker trades against you so if your going long (buy) Eur/Usd they (MM broker) is going short, and some even go Stop hunting, I know you traders know what that is,

Ecn brokers ... your trades go thru to the real currency market so they do not care if you make money of course they want to to make money so you trade more and they get commission per trade, well basically they are the opposite of MM brokers,most ECN brokers have 3k min deposit,
The nip in the butt is you won't find many reviews for ECN brokers because MM brokers have a low min (100£) deposit to open an account new fx traders (like i did) run to Market maker brokers not knowing the pit falls,

tradetime

justpaper wrote: »

sorry to take this off the topic,



i am sorry for and confusion but im 100% for anti-baffling talk, considering the topic if I said Electronic Communications Network im sure people would find it just as baffling, and GFT is just the companys name, Accendo Financial Markets is a trading name of GFT Global Markets UK Ltd., Subsidiary of Global Futures & Forex, Ltd.


in forex market there are 2 types of major brokers market makers and ECN,

Market makers (MM) brokers are more like a bucket shop Your trades dont go thru to the Real currency market so you dont get real market prices you get snip they (MM broker) are making money on the price and the spreads, also the MM broker trades against you so if your going long (buy) Eur/Usd they (MM broker) is going short, and some even go Stop hunting, I know you traders know what that is,

Ecn brokers ... your trades go thru to the real currency market so they do not care if you make money of course they want to to make money so you trade more and they get commission per trade, well basically they are the opposite of MM brokers,most ECN brokers have 3k min deposit,
The nip in the butt is you won't find many reviews for ECN brokers because MM brokers have a low min (100£) deposit to open an account new fx traders (like i did) run to Market maker brokers not knowing the pit falls,

Thanx for that, it seems to differ somewhat from Stock markets

mrposhman

activeits wrote: »

After about 6 months of their sales man try to convince me to sign up, I did. They put me in at entry level, which means I have a Limited Risk Advisory Account (Guaranteed Stop Loss and you they advise you on what they recommend and you say yes or no).

I started on Thursday 16/04/2009 and by 21/4/2009, my initial investment pot lost over 70%. I have only just gain access to my online account, so i can see live data today. After days of nagging them.

They do everything to get you to setup an account with them, but once you have, there service seem extermly poor and their advisory service is very bad judging on over 70% loss in 3 days.

Fancy telling us what you did to lose 70% in 3 days? I'm not doubting, just interested.