I’ve been busy with work yet again today but I did find a little time to research and made one new trade. It’s a super trend buy in Lloyds bank. Buy £1 per point at 69.164 with a stop set at 62. That now gives me a total of 9 £1 per point positions open. Not a massive amount but hey I’m happy enough with how things have been going recently and hopefully it’s a sign of things to come. Sure I’d love to trade more but to do that I need a bigger bank so maybe one day you’ll be reading this blog and I’ll be listing the numerous trades that have taken place that day. Until that becomes a reality I’m afraid you will have to put up with me trading the opportunities that I feel are right for me and fit all my trading criteria. Hopefully you can live with that.
I had a phone call from CMC markets today. A nice chap named Jamie called me to answer the various questions I had. I’ve listed them below as mini a questions and answer session with CMC markets.
Question: “What happens to my position in Northern Foods now they are merging?”
Answer: “The position will be closed out on the day the merger takes place. If I want to open a position in the newly merged company I will have to do this manually.”
I guess when you think about it this seems really obvious. Still it’s that question cleared up.
Question: “Why did I suffer slippage in the new CMC account and not the old CMC account?”
Answer: “The new CMC platform takes into account the volume of stock that is available when the trade is made. At the time my stop was triggered trading volumes were very low which is why I was filled at a worse price than my stop level. The old CMC Market Maker platform does not take volume into account when making the trade therefore I was actually filled at a better price than was available in the market place”
I did speak with him more, mostly about charting and asking why they didn’t hold off launching the new platform until had more features. He answered all my questions well and reassured me that more features were coming in the near future and that the back end of the new system is much better placed for constant improvements and enhancements. I think it was Big Al that said he was put off opening an account with them because of the limited number of instruments that are available. I think he said that they may be adding more instruments in the new year but I can’t remember for sure.
I’ll be keeping my new CMC account for a while longer yet to see how it progresses. The spread and margin requirements in the new account are certainly better than the old marker maker account which is definitely a plus. I’ll keep you posted with new developments from them as and when I learn about them.
Right that’s about all from me today. I think I’ve rattled on enough. I’m working on some new features with some new spread betting companies which I hope to bring to you shortly. So keep checking back for the latest additions.
Until next time,
“May the markets be with you!”
Spread betting beginner