CMC Markets Banning - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


CMC Markets Banning
Updated: Views / Replies:10,423 / 28
Created: by scarr Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

CMC Markets Banning

  #11 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

To Lornz

No offence taken but all advice is more than welcome, however I cannot help but look at the stats "actual stats" now I know we have all heard this before "I have the winning formula" but this has been running for some time daily and it simply "wins" placing actual (demo) bets so how can I ignore it? the market has been up / down and sideways and still it performs I cannot think of a scenario we have not seen can any?

When I say "it performs" it is not like I get three wins and two losses I get NO losses, if there is a possible loss situation I don't bet.

Maybe a question would be, how long do you monitor a system before you can say I am 99% happy this works?


P.S. I ONLY sell and never near a "half hour" or "hour" so the earthquake / volcano / announcement. is covered. and yes the market can go through the roof but as we all know "bulls walk up stairs, bears jump out windows" and in the unlikley case of a hike beyond what we have seen recently the stop loss would cut in.

Reply With Quote
 
  #12 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: Multicharts, NinjaTrader, ESignal
 
Posts: 38 since Dec 2009
Thanks: 9 given, 26 received

Are you trading CMC's spread-bet offering or their CFD version? There were stories years back of 'successful' traders being banned, but that was by the smaller less reputable providers...now the big heavyweights are big businesses so your potential success would have zero effect on them and hence not getting you banned....i know several guys who'd run chunky 8 figure positions with these providers and there were never any issues.

Is your plan to stick to a single instrument like the FTSE or trade different contracts. And if you don't mind me asking, what position size are you looking at?

Best of luck

Reply With Quote
 
  #13 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received



scarr View Post
No offence taken but all advice is more than welcome, however I cannot help but look at the stats "actual stats" now I know we have all heard this before "I have the winning formula" but this has been running for some time daily and it simply "wins" placing actual (demo) bets so how can I ignore it? the market has been up / down and sideways and still it performs I cannot think of a scenario we have not seen can any?

When I say "it performs" it is not like I get three wins and two losses I get NO losses, if there is a possible loss situation I don't bet.

Maybe a question would be, how long do you monitor a system before you can say I am 99% happy this works?


P.S. I ONLY sell and never near a "half hour" or "hour" so the earthquake / volcano / announcement. is covered. and yes the market can go through the roof but as we all know "bulls walk up stairs, bears jump out windows" and in the unlikley case of a hike beyond what we have seen recently the stop loss would cut in.


I might have been a little harsh, you might indeed have a viable strategy. Unless you have a large account, a $30K swing in a few weeks indicates poor money management...

My point was more, find yourself a futures broker instead. You will get better execution, pay less in commissions/spread and have access to better tools. This will greatly enhance the performance of your system, at least if it actually has positive expectancy to begin with...

Most FCMs offer Liffe products, do a web search...

Lornz

Reply With Quote
 
  #14 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

Lornz

Hi,

Using a broker instead of CMC has been suggested but all my work has been around CMC so far (a lot of work, I have been concentrating on getting the formula right not selecting the right platform!) so maybe you/someone can answer a few questions

1) Can I do exactaly the same operation, quickly take a position and then sell mins sometimes seconds later
2) Are winnings using a broker taxable
3) What are the typical deposit requirments
4) Can anyone recommend one?

P.S. I did look at Interactive Brokers and I do like the fact they have a API as I can automate things much easier using a API do all brokers generally have API's

Steve

Reply With Quote
 
  #15 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


scarr View Post
Hi,

Using a broker instead of CMC has been suggested but all my work has been around CMC so far (a lot of work, I have been concentrating on getting the formula right not selecting the right platform!) so maybe you/someone can answer a few questions

1) Can I do exactaly the same operation, quickly take a position and then sell mins sometimes seconds later
2) Are winnings using a broker taxable
3) What are the typical deposit requirments
4) Can anyone recommend one?

P.S. I did look at Interactive Brokers and I do like the fact they have a API as I can automate things much easier using a API do all brokers generally have API's

Steve

1) Not even can you do it, but you can do it both faster and cheaper.

2) Yes, but taxes should be the least of your worries

3) $5000 or $10 000 seems to be the norm...

4) It all depends on your requirements, volume... IB is popular because of its global platform, it seems a lot are using Velocity on this board. All of the serious brokers offer APIs. If you're interested in automated trading, check out the new dedicated site by Advantage Futures: The Algo Advantage | High Frequency Trading at Advantage Futures

Reply With Quote
 
  #16 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

Lornz

thanks for everything but one point here in UK Taxes are a big thing, based on just 10k per month your looking at giving 40-50% away whereas on a spreadbetting site it is all yours

Thanks

Steve

Reply With Quote
 
  #17 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: Multicharts, NinjaTrader, ESignal
 
Posts: 38 since Dec 2009
Thanks: 9 given, 26 received

You'll have to trade manually on spread-betting as they don't have the technology to let you run an algo...are you just going to trade the FTSE?

Reply With Quote
 
  #18 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


scarr View Post
thanks for everything but one point here in UK Taxes are a big thing, based on just 10k per month your looking at giving 40-50% away whereas on a spreadbetting site it is all yours

Thanks

Steve

For my trading, it is cheaper to pay taxes than to trade a wider spread. It's all relative.

I pay a flat 28%, and it seems it is the same rate in the UK ( HM Revenue & Customs: Capital Gains Tax: the basics ). I also get to write off a lot off expenses (business trips, hardware, software etc..) I also like to contribute a little to society..

My point was you should worry more about making money; You don't pay taxes on losses. The execution, spreads and everything else is better when trading on the exchange... And if you're thinking about automating your strategy, the choice is clear...

But to each his own...

Check out the T2W board for more info on spread betting...

Reply With Quote
 
  #19 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received


RabC View Post
Are you trading CMC's spread-bet offering or their CFD version? There were stories years back of 'successful' traders being banned, but that was by the smaller less reputable providers...now the big heavyweights are big businesses so your potential success would have zero effect on them and hence not getting you banned....i know several guys who'd run chunky 8 figure positions with these providers and there were never any issues.

Is your plan to stick to a single instrument like the FTSE or trade different contracts. And if you don't mind me asking, what position size are you looking at?

Best of luck

RabC, are you saying those guys can enter a single position which is 8 figures in value? Or are you saying they attained 8 figures in profit?

Reply With Quote
 
  #20 (permalink)
Trading Apprentice
Preston
 
Futures Experience: Intermediate
Platform: None
Favorite Futures: FTSE
 
Posts: 12 since Aug 2011
Thanks: 0 given, 0 received

RabC


hi Rabc,

I know there is no automated API as such but I have developed a application that acts like me, it clicks / presses buttons and monitors values, so its automated as such.

Steve

Reply With Quote

Reply



futures io > > > > CMC Markets Banning

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Why Banning Short-Selling 'Doesn't Do Any Good' Quick Summary News and Current Events 0 August 12th, 2011 07:40 PM
Do futures markets drive the underlying markets? martifc Traders Hideout 9 December 31st, 2010 10:50 AM
What markets are leading the others? ikeaboy The Elite Circle 16 November 29th, 2010 09:24 AM
how do you think markets work? darthtrader3.6 Traders Hideout 21 August 13th, 2010 08:47 AM
Derivative Markets TheWizard Off-Topic 1 May 17th, 2010 11:59 PM


All times are GMT -4. The time now is 01:27 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-20 in 0.14 seconds with 19 queries on phoenix via your IP 54.224.18.114