nkruger
Established member
- Messages
- 855
- Likes
- 76
I remember a winner taking 1.8 million in 1 day... we never closed him
Something to work towards this afternoon - as I watch the Footy 'all over the plaice'......
.
I remember a winner taking 1.8 million in 1 day... we never closed him
If we did'nt like a certian client and the way he traded,
On what basis? Thought his name was funny? Traded with a wig on? Based it on lagging quotes?
I remember a winner taking 1.8 million in 1 day... we never closed him
Being an eternal optimist, this is my main concern at the moment (whether or not my account would get closed if I started winning tens of thousands a day. But in all honesty, I need to devise a profitable system first
I guess you are a natural worrier
I used to work at Cantor Index. We very rarely closed account. We had winners in the millions. Yes, we took positions that we wanted, but most of the business is hedged out. If we did'nt like a certian client and the way he traded, we hedeg all his positions and simply take him on the spread. Its not like the sports betting industry where you are directly playing the company.
I remember a winner taking 1.8 million in 1 day... we never closed him
If they shut me down, I'll be the first to back you up, but it hasn't happened yet.
Surely, that applies, equally, to all broker clients, as well. The great majority of small traders fail and, I would suggest, much more quickly, because of the large capital expenditure required.
I tell you now, that I can handle a two point spread on an index trade. If anyone can't do that, then they are not yet successful traders and should, certainly, not be trading with a broker.
Therefore, all new entrants to this business should start with SB firms and they should be absolutely honest with themselves. The question must be. Did I, really, lose money on that trade because of them, or because of my lack of trading ability?
Split
It means "the Myth" is true. You can't make money with spreadbetting.
Because no matter how good you are with your research, chart reading etc, they won't allow you to win.
It means that 50 bets per day is not possible. So the only way to do is to spread it by using two or three sb accounts simultaneouly. However, it means that you'd have to spread your seed capital, many windows opened at the same time and possibly have two or three laptops/pc and mouse (I mean mice). I can already see myself frantically flicking between different windows Pitty, I've only got two arms. But really, it kills the spontaneity side of trading as I would have to rely on planning ahead, placing orders to be triggered. Boring.
Hi SpreadBunny,
Without meaning to sound confrontational who do you think you are??
Seriously... these companies have bets placed every two seconds. If you are taking short term positions £2000 a point on the FTSE then you may have a problem with them accepting orders but I would say doing that is insane unless it is to hedge broad share portfolio's (over a longer times frame) or looking to hold that position for at least 4 hours.
There are plenty of people making money spreadbetting, I think the strategy you are looking to adopt is foolish and you will learn that in time when you start using real money.
BTW, get away from paddy trader and try out a proper firm.
JK
I am a newbie. Eventually, I'd like to be able to bet £10 or £20pp but have noooot thought about £2000pp
PPowerTrader was just to have a look... demo only.
The way you explain it, spreadbetting is not possible. 50 trades a day on a 2 point spread is unrealistic, in the extreme. That is scalping and you have to know your stuff to do that with a broker, let alone a spreadbetting firm. A couple of small mistakes and you are down on the day, but you'll find that out soon enough, if that's what you are doing. Then---guess what--- you'll blame the SB company, cancel your account and open another one with someone else.
I've heard all this so many times.
Split
Hi Split,
thought I would give you a lift here for once
I agree Split, and it seems like its harder than working for a living,
If my basic math correct and its usually as good as mmy spelling and grammer thats a trade entered every 10.2 mins on the ftse
when do I go for a sh...t or get time for my cup of Tee and a Kit Kat :?:
Andy AKA
Admit it... you use the sink...
Have you ever seen these online gamers who were so addicted to playing games that they started to use plastic bottles lol. eerrrh no. sorry I don't do that but my trading room is in the kitchen so I can make a tea while I am looking at my trade. Anyway, I don't make 2points x 50 trades all the time. Some are 2pts because I chickened out and come off early, some I make 10-15 pts and some I lose. But at the end of the day, if you make overall profits for the day that's what matters to me.
LOL, noooo!
You've done this before SN!