How to buy a CFD at open price?
- Thread starter thanam
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Re: How to buy a CFD at Open price.
Why not just set a STOP buy at 0.01c?
Then you'll just buy at the first available price.
Why not just set a STOP buy at 0.01c?
Then you'll just buy at the first available price.
Trembling Hand
Can be found on the bid
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Re: How to buy a CFD at Open price.
Depends on which broker you use. if its a Market maker like CMC you will not b able to get the first tick. If its a DMA you may be able to trade the opening auction
Depends on which broker you use. if its a Market maker like CMC you will not b able to get the first tick. If its a DMA you may be able to trade the opening auction
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Re: How to buy a CFD at open price
this is a good question - i always have wondered who get all their orders filled on open and how it is decided - I imagined it would be large insto's then us smaller fry get ours filled at higher price
this is a good question - i always have wondered who get all their orders filled on open and how it is decided - I imagined it would be large insto's then us smaller fry get ours filled at higher price
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Re: How to buy a CFD at open price
I use the open price almost everyday for one of my portfolios. The answer is simple:
1. You need to use a DMA provider like MF Global who I use. If you use a MM you will not be able to access the opening auction.
2. You simply place a limit buy order well above the last close price. As a simple rule of thumb use 5%. A limit buy above the close will more than likley get you into the opening auction and filled at the next opening price.
Nick
I use the open price almost everyday for one of my portfolios. The answer is simple:
1. You need to use a DMA provider like MF Global who I use. If you use a MM you will not be able to access the opening auction.
2. You simply place a limit buy order well above the last close price. As a simple rule of thumb use 5%. A limit buy above the close will more than likley get you into the opening auction and filled at the next opening price.
Nick
I believe its also possible to participate in the pre-open and closing auctions using MMs like CMC. I have an AdvantagePro account with CMC and have been reminded several times that I can participate in the closing auction process. I must admit that I've never asked about the opening auction, but I presume that they are the same and that I would also be able to participate in that through CFDs. But I know for sure I can for the closing auction.
With IG Markets if I setup a limit order 1 tick above the close price and the share gaps over this my order is still triggered and I get the open price. This can be dangerous if it gaps really high!!! This is using MM not DMA. So when ever possible I like to manually execute the order.
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