CFD's, Collapse of MF Global

[mistagear]

In Reply To: NPH's post @ Sep 8 2013, 03:10 PM

NPH,

My posts had the desired effect, your eyes already opening up. Keep digging and you will come to the conclusion that DMA is the only option.
Now for the other point, spend a couple of weeks finding out all you can about RISK. It's well worth expanding your knowledge beyond what you think you know on the subject.
Van Tharpe a good starting point.

Happy Travels, Mista

[NPH]

In Reply To: NPH's post @ Sep 8 2013, 02:53 PM

Did a bit of a look around different forums online and CMC doesn't have the best reputation. From stop hunting to incorrect quoting of prices, they seem to have a bunch of tricks to snare the new CFD trader.

[NPH]

Interesting conclusion thanks Mista, feel free to enlighten me how you came to it.

I would agree that there is a conflict of interest with MM's, but that doesn't mean the investor can't profit.

[mistagear]

In Reply To: NPH's post @ Sep 8 2013, 12:03 PM

NPH,
From your reply, I'm certain you should not trade CFD's at this point in your trading journey.
Good luck with it.

[NPH]

Thanks MPL, Yes I reckon I have all that covered. Do you trade them? Have you had much success?

Mistagear, I have signed up with the biggest market-maker (non DMA) provider, CMC . Do you have any personal experiences with market-maker providers closing out positions or not quoting accurately? My thinking is that CMC are doing that much business if they were ripping people off they wouldn't have that share of the market. You obviously don't agree!?

[mistagear]

In Reply To: NPH's post @ Sep 8 2013, 10:30 AM

NPH,

I have two things to say, everything else is less than EXTREME importance.

1 . Absolutely and unequivocally, understand and control RISK on EVERY trade you enter.
2 . Only ever trade DMA CFD's. If you have opened an account with a Market Maker CFD Provider, close the account immediately.

If you are unsure of anyything I have said, dont trade CFD's until you do.

[mpl]

In Reply To: NPH's post @ Sep 8 2013, 10:30 AM

Hi NPH.

Tip's ?.
Supreme Discipline
Trading Plan.
Money & Risk management, Which includes Stops !!!.
NIL EMOTION.!!!!.
Now what will really start the Slugging. . TECHNICAL Trade only. .
Also to keep all of the above in check. 1 x 1Kg Brick. Everytime you Trade without any of the above & Get caught, DROP it on your foot. .

[NPH]

Opened up a CFD account recently

Anyone trade CFDs in sharescene land?

Quite excited to add some leverage to the trading success i've been having over the last few years.

Any tips/lessons/stories out there?

[hoaky]

Gerald Celente: My MF Global Gold Positions Have Been Confiscated by the CME
http://silverdoctors.blogspot.com/2011/11/...lobal-gold.html

[mrbear]

In Reply To: wolverine's post @ Nov 6 2011, 09:55 PM

Hiya wolver,boy cfd's sure seem to stir the pot a bit with everyone's differing views.

The problem or advantage is the leverage and from the news it seems global played the game and lost so now there is not enough coin in the bank to cover the losses so their customers are going to suffer.

I have a small account (2%) with cmc simply because of the cheap brokerage rates so to play my speccie poker machine but i would be nervous to hold large amounts with them,not that there is anything wrong with them but safety with a major issue with a smaller player in the field and of course we all know everyone is different but at the end of the financial if you get big tax bills you are doing something right no matter how you play,cheers mrbear