Hi just wanted to back up everything OJ said, there have been studies which have proven that in a low risk preg/birth there is no benefit to CFM at all, and in fact it results in more intervention than necessary because it picks up 'abnormalities' which are not actually 'abnormal' at all.It also reduces the mother's ability to be active (also contributing to intervention), and also takes the caregiver's focus off the mother, and onto a machine. I can attest to be being present at births where a CTG is being used, and its really hard not to look at it! A good midwife will use the doppler and be able to pick up if anything is going wrong. I would link the study but can't find it on a mega-quick google search, so I think I must've read it at uni.I was induced with my first and hooked up to the monitor, it was a bloody nightmare, I couldn't do anything, all I wanted was to sit in the shower and I couldn't. Unless there is other stuff going on (meconium, induction etc) I would refuse it. Even then, I'd try to negotiate 20 mins on/20 mins off so I could stay active for part of it. If they want to do a trace on admission, you can negotiate 20 mins, just make sure you hold it very still so they can't use the old excuse "We need to keep it on longer to get a better trace"!
For the 3rd stage, have you thought about delaying cord clamping for 5 mins or so, til its finished pulsating, then clamping and having the jab? That way baby will still have the benefits of delayed clamping but you are reducing your risk of PPH?
I hope you get your waterbirth!