Banned for winning too much?

[new_trader]

Try doing that for 5 days. Wait and see....

I explained earlier that the largest proportion of trades I have made S/B for the last 4 or so years have been scalps or day trades. IG police haven't shown up yet.

 

[Rossini]

What kind of size are you doing? Tell me to fu*k off if you think i'm too nosey lol.

 

[new_trader]

What kind of size are you doing? Tell me to fu*k off if you think i'm too nosey lol.

£10/point on S&P500

Now, phuck off!

Don't tell me you are going to add another caveat to the argument...you know, like I said...about size...or will it be "They only hate day traders and scalpers who trade while standing on one leg...but it has to be the left leg....size 10 shoe....black soles only...."

 

[Rossini]

lol

 

[Black Swan]

£10/point on S&P500

Now, phuck off!

Don't tell me you are going to add another caveat to the argument...you know, like I said...about size...or will it be "They only hate day traders and scalpers who trade while standing on one leg...but it has to be the left leg....size 10 shoe....black soles only...."

Whilst reading this there was a knock on the door, only the van delivering the few pairs of shoes I sniped on e-bay a few days back..phew...

 

[GCC]

So let me see if I understand this correctly:

-A swing trader makes 1 trade per month and makes an average of £1000/week and they are loved by spread betting companies.

-A scalper trades 20 times/day and makes an average of £200/week and they are hated by spread betting companies.

Yes...I can see it now, it makes loads of sense!

I am new to trading so I am not very familiar with how large the pros usually. I really want to know: if you are trading with a spread betting company, what amount would be "safe" to win from them every month without being targeted?

 

[Rossini]

Dont start it all again!

 

[stevespray]

I am new to trading so I am not very familiar with how large the pros usually. I really want to know: if you are trading with a spread betting company, what amount would be "safe" to win from them every month without being targeted?

I think that the point which can be drawn from the thread as a whole is that it is not 'the amount' which is won which causes the problem, it's the manner in which you do it.

If you did 2 or 3 trade per week on forex and made £20,000 per month then I doubt they will mind. However, if you did 10 trades per hour and withdraw the same £20,000 every month then you'll start having problems.

Steve.

 

[glyder]

My SB firm (one of the majors) did the umpteenth dirty on me in recent times this morning. I'm sick of their games and sick of complaining to them (they do sometimes reinstate funds following complaints). My trades are minimal sized, I lose on enough of them and win on enough to keep me in the game, but I am not only playing the market I am playing this firm's dirty tactics too. When there is a winning trade it becomes very difficult to close it even if the stake is low. If there is a stop loss even with plenty of space to breath the spread mysteriously widens to take me out....sometimes they miss, then close out my position anyway at an arbitrary level,, I know it sounds like paranoia but it isn't... theres no reason to target me and my miniscule account which is traded mainly on the most liquid markets, so It must be their method of operating. They go for periods where none of this happens - service is normal, then change tack so that it becomes constant for a week or two.
I'd stuck with them for now because I am used to their system, but now they can forget it.
This morning I withdrew all my funds. I'm going elsewhere. Will it be any better? we'll see.

 

[ceydababy]

I am new to trading so I am not very familiar with how large the pros usually. I really want to know: if you are trading with a spread betting company, what amount would be "safe" to win from them every month without being targeted?

fwiw, my buddy at unnamed sb firm was saying they had some guys making in excess of 1million euro a day in spanish equities, he reckoned it was blatant inside info. They have also had a guy made abot £500k trading oil and gold a few months back.

In terms of size they have guys doing £12k a point of vodafone.

As steve says SB firms dont mind size, it's how you use it that counts. (now thats a double entendre)

 

[ceydababy]

My SB firm (one of the majors) did the umpteenth dirty on me in recent times this morning. I'm sick of their games and sick of complaining to them (they do sometimes reinstate funds following complaints). My trades are minimal sized, I lose on enough of them and win on enough to keep me in the game, but I am not only playing the market I am playing this firm's dirty tactics too. When there is a winning trade it becomes very difficult to close it even if the stake is low. If there is a stop loss even with plenty of space to breath the spread mysteriously widens to take me out....sometimes they miss, then close out my position anyway at an arbitrary level,, I know it sounds like paranoia but it isn't... theres no reason to target me and my miniscule account which is traded mainly on the most liquid markets, so It must be their method of operating. They go for periods where none of this happens - service is normal, then change tack so that it becomes constant for a week or two.
I'd stuck with them for now because I am used to their system, but now they can forget it.
This morning I withdrew all my funds. I'm going elsewhere. Will it be any better? we'll see.

name and shame ??

 

[miskec]

My SB firm (one of the majors) did the umpteenth dirty on me in recent times this morning. I'm sick of their games and sick of complaining to them (they do sometimes reinstate funds following complaints). My trades are minimal sized, I lose on enough of them and win on enough to keep me in the game, but I am not only playing the market I am playing this firm's dirty tactics too. When there is a winning trade it becomes very difficult to close it even if the stake is low. If there is a stop loss even with plenty of space to breath the spread mysteriously widens to take me out....sometimes they miss, then close out my position anyway at an arbitrary level,, I know it sounds like paranoia but it isn't... theres no reason to target me and my miniscule account which is traded mainly on the most liquid markets, so It must be their method of operating. They go for periods where none of this happens - service is normal, then change tack so that it becomes constant for a week or two.
I'd stuck with them for now because I am used to their system, but now they can forget it.
This morning I withdrew all my funds. I'm going elsewhere. Will it be any better? we'll see.

I understand you cant share the name with us and im sure you arent the only one that has had this problems. I just hope they stop doing it when they lose enough customers. Good luck in future!

 

[porph]

For that level of manipulation I would be ringing up some buddies at the FSA.

 

[glyder]

I won;t name & shame, they've not had a fair chance to correct this last mistreatment via a complaints process. suffice to say I am probably going to IG Index, and then take time to check out futurebets.
What gets me Is I really am a minor trader, on a small account. I know there are major players with large stakes using the same firm...they don't get this treatment, they wouldn't stand for it for a start and the SBfirms don't want to lose them.
So do they take out the small clients for fun & because they don;t bother to hedge them maybe?
When its one of their normal periods they do give a great service. Maybe they change dealers or something now & then.

 

[foredog]

The artist formerly know as D4F?

 

[tar]

guys look this sclper what he did at FEB09 , he took his live account at fxcm micro from 870 $ to 13000 $ and they gave him a prize of 25000 $ ( this prize is a monthly prize for the first place )

King of the Micro - February 2009 - RESULTS - DailyFX Forum

here is his trades :

http://learncurrencytrading.com/Micro/KOM/FebResults/KOM1st.pdf

 

[kwickwool]

Guys,

Surely any "scalper" who is doing any good at all and knows his stuff is going to move to a DMA account like fb where the issue is just not a problem and you are connected directly onto the exchange, no manipulation and ultra fast executions. Of course sb firms like cmc etc dont hedge all their positions therefore any successful trader especially a scalper will lose them money and they will use all tools in their posession. I have just spent 20 minutes reading this thread in total and it was a total waste of 20mins, even being a novice. Complaining about spread betting firms that dont hedge all bets like cmc etc(u might gather dont like cmc) when u get requoted, slowed down etc etc etc is a bit like complaining about getting wet if you go for a swim, get DMA and it all goes away.......

 

[montmorencyt2w]

Talking about financial betting not sports betting, but i think most SB companies want you to join and lose you shirt as quick as possible so the next punter comes along etc.etc.etc.

for financial spreadbetting i would recomend Futuresbetting, as they are opposite to all and hedge all bets, so want the client to win....they earn by the fixed spreads they charge.

The approach would then seem to be to learn your craft with the likes of IG, and once you get good enough to be banned by them, move over to Futuresbetting.

 

[Countvonaltibar]

CMC do not play fair at all and I would advise people to take great care when using them. I've switched to IGindex and there's a huge difference.

 

[Trendy Trader]

I spoke to their head dealer, I was kicking off that they where not accepting any of my trades regardless of how I was trying to get into them. He basically said you've been dealer filled and your accounts activity is being monitored to minimise our risk, its up to the dealers discretion as to whether he accepts your trades at all.

Coincidentally that was just before a spaceship landed on the office roof and picked me up...

And then the aliens said, "Take me to your head dealer"