I have a trading account with GT n I have been thinking about this. Lets say i get into long a position e.g. MTX for 300cents and the spread is 7 cents. After this the share goes my way but 6 cents a day for 10 days, by then the price will be 400 cents but I would have lost in that trade based on the daily closing/opening. So why can't these houses have a traing for lets say 3months?
not following your question at all, but I can say that GT may look cheap in terms of commissions, but they lock you into the spread - which is a cost you have to factor in. what I mean by this, is at any point in the trade, you have to take at the current bid/ask price, you can't enter into the actual auction - so you couldn't put a bid in between the two, for example.
Clarity: Example: I buy(Long) MTX @ 300 cents(offer price) and the bid price is 293cents(spread is 7 cents). My target is set to 400 cents. now if the price moves 6 cents a daily until 400cents, i actualy made a loss on that trade because of daily opening and closing of the positions(rolling over).
Don't think I understand. Are you opening the trade at the beginning of each day, and then closing it at the end of each day? If that's the case then yes, you make a loss. BUT, you don't need to close the position daily. You can just open it on day one, and close it on the last day and you'll have a profit. Unless you're trading those CFD's that some bucket shops offer that automatically expire at the end of the day. If that's the case, then change the type of CFD you trade to ensure a profit.