Anyone scalping the FTSE Futures??

samirs said:
what is your experience in spreadbet....I am not asking for 'minor' issues like slippage etc. But more interested in knowing if they create any issues if you start winning consistently large sums...

so far I have read on the forum that if you win large sums on a smaller time frame then they create some issues like not taking your bets / closing your accounts etc.

have you experienced this with the bigger names SB companies.
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they dont care if u win large or small, they are like a betting shop, they make/skim 5% of their turnover. since most people who trade spreadbet love money about 60% of them. the companies know who the losers are and dont hedge their bets and they know who the winners are and they might go along with winners bets.
 
samirs said:
what is your experience in spreadbet....I am not asking for 'minor' issues like slippage etc. But more interested in knowing if they create any issues if you start winning consistently large sums...

so far I have read on the forum that if you win large sums on a smaller time frame then they create some issues like not taking your bets / closing your accounts etc.

have you experienced this with the bigger names SB companies.
Click to expand...

there was a spread bet company which provided excellent service and tight spreads and did superb business it got take out by one of the very large companies. I think spreadbetters should form a mutual society and start their own spread bet company which would treat people fairly. the problem with those who do spread betting is that they do not understand the effects of the spread/vig on their trading, the video i posted from powertrading radio the chap explained how the fact u cannot place orders very close to spot and your stop must be 4 points away on some platforms makes it a tilted game. also notice that dick lexic thinking that there was inside day today, wonder why the spread betting company did not move the market down to the correct low? in hindsight we can see probably because the 5478 low 50% was obvious place to go long and hence they could see buyers below that level and did not want to give them long positions.

with so much info on web about betting, are there any videos which teach you how to overcome the tricks of the spreadbet companies? if you read victor niederhoffers "education of a speculator" i forget the name of the other book, niederhoffer has a very high understanding of the game.
 
samirs said:
thanks...is that also true for a scalper who may get in and out in minutes....that they dont care if you win / lose - large / small.
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generally the shorter your time frame the less likely u are to be profitable, since u bear the same costs as a longer term trader but you profit is limited by the fact that the market takes time to move and the shorter time frame means you limit your upside but still expose your self to same risk and costs
 
samirs said:
thanks...is that also true for a scalper who may get in and out in minutes....that they dont care if you win / lose - large / small.
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the cftc made a law that US companies must disclose the percentage of their accounts that are profitable, u can clearly see for the majority its a losers game, did u read the article i posted from victor niederhoffer?
 
samirs said:
thanks..are you referring to http://www.trade2win.com/boards/uk-indices/120172-anyone-scalping-ftse-futures-1368.html#post1925030

I just raised it since I see a number of posts on the forum complaining on SB practices and how they dont like you winning large...but I was wondering why would they get to those tactics as most punters would do it themselves
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there are some famous cases of big winners being shafted, a lot of the time the settlement of a dispute will contain a non disclosure or secrecy clause, so 90% of the crap is never exposed.
 
samirs said:
yes...thats why it hints to the GDP numbers
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samirs there was a chap called Bill Mclaren he was a very good chartist and appeared on cnbc a lot of time, one day he spoke out about the corruption involved in the flash crash, and about 2 weeks later they stopped having him on CNBC after he had been doing it for 10years
 
this is what bill mclaren said on cnbc and it ended his 10yrs of giving ta advice on cnbc.

I’ve been in this business 45 years and what occurred on the 6th was criminal behavior. Tens of thousands of traders and investors had their positions stolen from them with their use of protective stops. This was a failure of the exchange to keep an orderly market—that is their primary responsibility. It is not to facilitate program trading. But the rules of the exchange have been changed to facilitate program trading which now is the majority of trades on the exchange. In fact one firm controls 50% of the NYSE volume. These programs manipulate the markets for very short term profits and should never be allowed. It is now a week later and the exchange says they don’t know why the 1000 point decline occurred. I don’t believe it. There are two things that could cause that to occur, the first is it was orchestrated by a few members or it was a failure of the exchange “rules” governing program trading. Neither of which they would ever admit too. But their failure to keep an orderly market, while allowing program trading to dominate the market should have them legally responsible to all the investors who had their positions stolen from them especially if those positions were taken as principle by NYSE member firms. And on that happy note-have a great week end.
 
samirs said:
11000 posts

1292223254212-dumpfm-mario-Obamaclap.gif
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i hate obama
 
SuddenDeath said:
this is what bill mclaren said on cnbc and it ended his 10yrs of giving ta advice on cnbc.

I’ve been in this business 45 years and what occurred on the 6th was criminal behavior. Tens of thousands of traders and investors had their positions stolen from them with their use of protective stops. This was a failure of the exchange to keep an orderly market—that is their primary responsibility. It is not to facilitate program trading. But the rules of the exchange have been changed to facilitate program trading which now is the majority of trades on the exchange. In fact one firm controls 50% of the NYSE volume. These programs manipulate the markets for very short term profits and should never be allowed. It is now a week later and the exchange says they don’t know why the 1000 point decline occurred. I don’t believe it. There are two things that could cause that to occur, the first is it was orchestrated by a few members or it was a failure of the exchange “rules” governing program trading. Neither of which they would ever admit too. But their failure to keep an orderly market, while allowing program trading to dominate the market should have them legally responsible to all the investors who had their positions stolen from them especially if those positions were taken as principle by NYSE member firms. And on that happy note-have a great week end.
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yes robin hood and his merry men
 
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