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#jarobeats cmc markets! ... what the hell happened 2 the world?

Posted 09-18-2010 at 08:58 PM by jaro [Show Appreciation] What's This?
Updated 10-08-2010 at 10:45 AM by jaro (altona, formation, enwave + what the hell happened 2 the world?)


... my broker's logo ...

yabbadabbadooooo! ive won my fight against cmc which ive boosted/accelerated in june! finally ive made more money out of my (mini) trading account as ive ever paid in :-). well, ive withdrawn 5k €uros in august and 1,600 last thursday, which is already few hundred euros more than i have put in the last 3-4 years in order 2 learn to trade and of course 2 learn sooo much abt myself ... i even plan 2 withdraw next 400 euros on monday cause there is still more margin coverage than i really need ...=> ....

... thx my lovely silver, wheat, gas, coffee, sugar, rice, corn, orange juice ... well, now ive left only 4.4k of profits at my cmc account so there is no way i can ever lose (unlike stocks + currencies, commodities cant become worthless overnight, u know?).

thats victory, isnt it? what is so special at this? well, cmc markets is the CFD-broker with the worst reputation, i think ... its really a bad guy broker with sooooo aggressive advertisement, many inexperienced customers, the cmc guys as a 'market maker' make even their own quotes so they very often overshoot the ranges of underlying assets (e.g. commodity futures) and thus take out many stops near the real price curve, ive already complained many times abt wrong order executions and even few times got some money back ... btw, just in case u would like to ask why didnt i take my money out and move to a better broker, heres the answer: at that time i had no appetite, no time, no mood and especially no money to open a next trading account with a much much higher initial account backing needed (usually 5k or 10k instead of 1k @ cmc markets) ... and after all, i have already 5 different trading accounts ... and yes, i like the cmc trading software much better than e.g. its lynx brokers equivalent [lynx is my current low fee canadian mining stocks broker ... and since 2 months also a CFD broker ... but i dont wanna 2 mix up my CFD and stock activities in a single account (that allows me a much much better risk control i believe)]

what 2 do with my new funds? thats easy! #jarobuys tara gold, aquila resources, bravo gold, andover ventures, ... (will continue buying on monday ;-) ...

addendum 09/21/2010: shopping finished, #jarobuys altona mining, formation metals, enwave corp

go microcaps go!

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  1. Old Comment
    jaro's Avatar
    #jarosells sugar @ 24.24 today morning .... was the daily low realy that deep? why tells nymex it was just 24.26?

    well, thats karma isnt it? shudda not write abt my dear broker, wudda not get stopped out below the real daily low, is it?

    Nymex No. 11 Sugar (hell, 2day's low is 24.26 and not 24.24 ... )

    btw, ive entered the sugar market in may, still have 1 contract open, im too tired & too lazy now to bother my calculator in order to compute the gains in terms of percentage, the cash difference per CFD contract is slightly above 1,000 bucks in both cases which is really great, i think:
    • 10.05.2010: 14.21 u.s. cents
    • 14.05.2010: 13.93 u.s. cents


    btw, as for now, my next stop limit is 23.23 but still hope sugar will go up futher
    permalink
    Posted 09-20-2010 at 02:44 PM by jaro jaro is offline [Show Appreciation] What's This?
  2. Old Comment
    x3mtrading's Avatar
    Congrats on recent successful trades Jaro

    Quote:
    Originally Posted by jaro g. View Comment
    #jarosells sugar @ 24.24 .... was the daily low realy that deep? why tells nymex it was just 24.26?
    Do u remember the bid/offer spread on when u took the trade?
    permalink
    Posted 09-20-2010 at 03:22 PM by x3mtrading x3mtrading is offline [Show Appreciation] What's This?
  3. Old Comment
    Simit Patel's Avatar
    yes sounds like teh spread is the reason for the price discrepancy here....is nymex low the low buy price or the low sell price?
    permalink
    Posted 09-20-2010 at 03:31 PM by Simit Patel Simit Patel is online now [Show Appreciation] What's This?
  4. Old Comment
    jaro's Avatar
    thx :-)

    do u mean the 'normal' spread? it is always 5 dollars per sugar contract (right now 24.35 / 24.40 ... so u have to pay $2,440 per 1 sugar CFD) ... btw, there are no additional fees/commissions/etc. ... only the stupid taxes on profits! hell, how do i hate them


    ... sugar was sold alraedy 7 hours ago, at abt 5 o'clock german time ... i dont have any real-time charting software ... just my brokers charts and even there, my computer is broken so i have just the web-access from my daughters notebook right now ... but it doesnt matter, 24.24 is still a very nice price for me
    permalink
    Posted 09-20-2010 at 03:35 PM by jaro jaro is offline [Show Appreciation] What's This?
  5. Old Comment
    x3mtrading's Avatar
    Quote:
    Originally Posted by jaro g. View Comment
    thx :-)
    You`re welcome

    Quote:
    do u mean the 'normal' spread? it is always 5 dollars per sugar contract
    Sorry Jaro I thought all CFDs had variable b/o spreads
    permalink
    Posted 09-20-2010 at 04:34 PM by x3mtrading x3mtrading is offline [Show Appreciation] What's This?
  6. Old Comment
    jaro's Avatar
    hi x3mtrading,

    well, i dont know what variable bid/offer spreads are (is it s.th. abt the fx markets?), but u are welcome, anyway
    permalink
    Posted 09-20-2010 at 04:42 PM by jaro jaro is offline [Show Appreciation] What's This?
  7. Old Comment
    x3mtrading's Avatar

    Variable b/o spreads

    Yes same principle as fx trading where the b/o spread is constantly changing(sometimes a lot).What u mention sounds like some sort of fixed commission

    ,never traded this stuff so don`t really know..

    have u spoken with your broker about the entry price?

    Maybe they can supply a valid explanation.I`d certainly be interested to know the answer

    Thanks
    permalink
    Posted 09-20-2010 at 04:49 PM by x3mtrading x3mtrading is offline [Show Appreciation] What's This?
  8. Old Comment
    jaro's Avatar
    well,

    cmc markets is a market maker and thus can provide 'own' prices inside its own trading platform, so the cmc prices are (usually slightly) different from nymex-prices ... thats are the rules at cmc, so i have to adjust to them anyway...

    2morrow will prolly sugar fell even further, so my sell order would have been executed a day later

    ... i just complain if there is s.th. really wrong (e.g. i would like 2 buy silver up to $20 (limit order), the market opens at $19.70 and they would buy a contract and charge me $20 instead $19.70 or the like )

    j.
    permalink
    Posted 09-20-2010 at 05:26 PM by jaro jaro is offline [Show Appreciation] What's This?
  9. Old Comment
    x3mtrading's Avatar
    Quote:
    Originally Posted by jaro g. View Comment
    well,

    cmc markets is a market maker and thus can provide 'own' prices inside its own trading platform, so the cmc prices are (usually slightly) different from nymex-prices ... thats are the rules at cmc, so i have to adjust to them anyway...
    I think I understand so the CFD price doesn`t always correspond exactly with the underlying futures contract

    Quote:
    ... i just complain if there is s.th. really wrong (e.g. i would like 2 buy silver up to $20 (limit order), the market opens at $19.70 and they would buy a contract and charge me $20 instead $19.70 or the like )
    j.
    Hmmm I see what u mean

    Thanks for explaining
    permalink
    Posted 09-20-2010 at 05:56 PM by x3mtrading x3mtrading is offline [Show Appreciation] What's This?
  10. Old Comment
    jaro's Avatar
    09/21/2010: shopping finished, #jarobuys altona mining, formation metals, enwave corp

    go microcaps go!
    permalink
    Posted 09-22-2010 at 01:34 PM by jaro jaro is offline [Show Appreciation] What's This?
  11. Old Comment
    jaro's Avatar
    is keybord a weapon?

    OMG! thats really true, indeed ... this cmc article was banned in my austrian blog column :-(

    what abt free internet? freedom of speach and the like?

    well, cmc markets, one of the occasional sponsors (advertisers) @ be24.at didnt like my opinion too much, so the provider took it offline ... instead of improving their service theyve banned the critique? hmmmmm, its like burning of books in the middle ages, isnt it?

    (ive blogs in 3 communities where i post the same article )
    permalink
    Posted 09-26-2010 at 05:48 PM by jaro jaro is offline [Show Appreciation] What's This?
  12. Old Comment
    jaro's Avatar
    #jarobuys natural gas again (together with silver is gas for sure my karmic challenge!) ...

    ... and places buy orders 4 corn + coffee + rice a (quite) significant step below current prices in case there will be some additional armaggedon 4 commodities
    permalink
    Posted 10-04-2010 at 04:09 PM by jaro jaro is offline [Show Appreciation] What's This?
  13. Old Comment
    jaro's Avatar
    #jarobuys wheat, coffee, rice ...

    well, my low, low, low buy orders were not fullfilled ... its damned pity, isnt it? ... thus decided 2 buy 'market' ... small mistake when buying wheat @ 655 ... me, stupid idiot, could buy @ 645 few hours earlier which is 100 bucks cheaper per my order size but wasnt sure abt the direction of 2days price movement before the u.s. markets opened ... anyway, 2day is prolly the best result for my micro-trading account ever ... +29% (hell, thats crazy!) ... a half day like this more and my all-time-high were reached again

    go commodities go!
    permalink
    Posted 10-05-2010 at 05:41 PM by jaro jaro is offline [Show Appreciation] What's This?
  14. Old Comment
    Simit Patel's Avatar
    wow, congrats on your success jaro!
    permalink
    Posted 10-05-2010 at 05:44 PM by Simit Patel Simit Patel is online now [Show Appreciation] What's This?
  15. Old Comment
    jaro's Avatar
    thx ... well, luck is also a part of the game, isnt it?
    permalink
    Posted 10-05-2010 at 06:26 PM by jaro jaro is offline [Show Appreciation] What's This?
  16. Old Comment
    Simit Patel's Avatar
    well, you know the saying....the harder you work, the luckier you get
    permalink
    Posted 10-05-2010 at 07:56 PM by Simit Patel Simit Patel is online now [Show Appreciation] What's This?
  17. Old Comment
    jaro's Avatar
    Quote:
    Originally Posted by Simit Patel View Comment
    well, you know the saying....the harder you work, the luckier you get
    well, thats what mr. market thought as well ... orange juice, wheat, sugar down ... rice, silver + gas (finally!) up ... on balance still a quite good day again ..

    thx
    permalink
    Posted 10-06-2010 at 01:18 PM by jaro jaro is offline [Show Appreciation] What's This?
  18. Old Comment
    jaro's Avatar
    what the hell happened 2 the world? wheat + rice + corn more than 7% each, oil +2%, silver +3%, gold +1% => my micro trading account +42%

    ... wheat right now +9.09% ...


    i hope there is no war or the like ... ...
    permalink
    Posted 10-08-2010 at 10:41 AM by jaro jaro is offline [Show Appreciation] What's This?
  19. Old Comment
    jaro's Avatar
    my intuition 'told' me 2 buy more natural gas on monday ... its still soooo cheap, u know? .... => buying order already placed in the system

    go energy go!
    permalink
    Posted 10-10-2010 at 05:11 AM by jaro jaro is offline [Show Appreciation] What's This?
  20. Old Comment
    forexer's Avatar
    Careful Jaro, NG is cheap for some reasons. Cheap shale gas pockets are on reason. Crude to NG ratio is also quite high now and the trend seems to be pointing up. Say if the price remains subdued for some while like 3-5 years or longer, technology advances might then spur the convenient mass use of NG in the transportation industry. JMO, i know nothing about energy lol.
    permalink
    Posted 10-10-2010 at 08:23 AM by forexer forexer is offline [Show Appreciation] What's This?
 

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