ASX CFD spreads and problems

[Wysiwyg]

Non DMA CFD brokers wouldn't need to cover because as far as I know the orders don't go into the real market.

You can short with Macquaire Prime.

Thank you. They are the real deal. $20 or .12% per accepted order. Guaranteed Stop Loss is handy too.

Just reading through the Prime Shorting PDS and this additional requirement has been introduced. For information purposes only ---

"7.8 Short position reporting
From 1 June 2010, certain holders of short positions over ASX-listed products may be required to report their
holdings to the Australian Securities & Investments Commission ("ASIC"). Each Investor should seek their own
legal advice as to whether this applies to any Short Positions held by the Investor."

For the doubters to the above statement there was no greater confirmation than back in 08 when the gov banned short selling, all sorts covered & naked, and you could still short with a few MM CFD providers. They were still taking short position although they couldn't hedge them directly.

Yes thank you. That is the period I was referring to in my previous post.

 

[krk004]

Just went to update my ASX cfd positions (all long on the ASX200 cfd from ~4670) for the day, which I do just after lunch each day.

Low & behold, all of my stops (which were all ~120-160 pts below where market closed last night & opened today) have all been taken out in the nighttime session!

No massive dip overnight to explain the move, my broker said that a whole lot of stop losses must have got hit, triggered a 'fall' and I was affected.

I know it is a market maker model as well as the OTC variety, but what are others thoughts or experiences?

Do I just have to chalk this up to experience?

Thanks,

 

[Trembling Hand]

Low & behold, all of my stops (which were all ~120-160 pts below where market closed last night & opened today) have all been taken out in the nighttime session!

No massive dip overnight to explain the move, my broker said that a whole lot of stop losses must have got hit, triggered a 'fall' and I was affected.

Can you not see a chart? or have access to T & S data?

The SPI only traded 9 points below yesterdays cash low. I'd feel ripped off. Whats your position size and what kinda of spread and brokerage do you get on that CFD thingo?

 

[skc]

Just went to update my ASX cfd positions (all long on the ASX200 cfd from ~4670) for the day, which I do just after lunch each day.

Low & behold, all of my stops (which were all ~120-160 pts below where market closed last night & opened today) have all been taken out in the nighttime session!

No massive dip overnight to explain the move, my broker said that a whole lot of stop losses must have got hit, triggered a 'fall' and I was affected.

I know it is a market maker model as well as the OTC variety, but what are others thoughts or experiences?

Do I just have to chalk this up to experience?

Thanks,

Sounds wrong. Check your stop orders just to make sure it wasn't your own placing error. Then call your CFD provider and threaten them with name-and-shame...

 

[bigirl]

Just went to update my ASX cfd positions (all long on the ASX200 cfd from ~4670) for the day, which I do just after lunch each day.

Low & behold, all of my stops (which were all ~120-160 pts below where market closed last night & opened today) have all been taken out in the nighttime session!

No massive dip overnight to explain the move, my broker said that a whole lot of stop losses must have got hit, triggered a 'fall' and I was affected.

I know it is a market maker model as well as the OTC variety, but what are others thoughts or experiences?

Do I just have to chalk this up to experience?

Thanks,

Hi,
Do you mind me asking who is your CFD provider?

Thanks!