Getting 'Red Flagged'

[Doomberg]

This seems to be becoming a problem for profitable traders in Forex and Spreadbetting, especially ones who are scalping... I am only beginning to perfect my scalping technique on IG Index and have not gone above £5 per point yet, but i am worrying that if i eventually get confident and back with a higher amount eg £20-100 per point i'll be red flagged instantly, hell someone on here was red flagged on his 1st ever trade with World Spreads at £1 per pip! And has been on dealer referral ever since which has ruined his chances of making any real profit as they are slowing his transactions.

We all know that Forex Brokers and Spread betting firms are raking in millions because the average punter is a 37 year old geography teacher who trades for kicks, often with no idea and loses his hard earned cash, when i 1st started trading i was getting ass raped on a regular basis, and now im starting to profit i worry that i'll get 'red flagged' because of it. Its ridiculous how the few people who make a profit will be stopped from doing so if they have a technique they they don't like.

Whats your experiences with this guys, does anyone know the score? I directly asked the CEO of World Spreads and this was his exact response "On your specific points, there are presently no restrictions" but then why are people using WS telling me they are being stopped when using certain trading techniques?

IG have been good with me until early wednesday morning, about 4am i was scalping AUS/USD and on 2 occasions (both in profit) the option to 'close trade' was disabled, and had the message of 'unavailable' so i lost the pips, when i called they said it must of been internet connection

Whats your experience / take on this guys?

 

[counter_violent]

This seems to be becoming a problem for profitable traders in Forex and Spreadbetting, especially ones who are scalping... I am only beginning to perfect my scalping technique on IG Index and have not gone above £5 per point yet, but i am worrying that if i eventually get confident and back with a higher amount eg £20-100 per point i'll be red flagged instantly, hell someone on here was red flagged on his 1st ever trade with World Spreads at £1 per pip! And has been on dealer referral ever since which has ruined his chances of making any real profit as they are slowing his transactions.

We all know that Forex Brokers and Spread betting firms are raking in millions because the average punter is a 37 year old geography teacher who trades for kicks, often with no idea and loses his hard earned cash, when i 1st started trading i was getting ass raped on a regular basis, and now im starting to profit i worry that i'll get 'red flagged' because of it. Its ridiculous how the few people who make a profit will be stopped from doing so if they have a technique they they don't like.

Whats your experiences with this guys, does anyone know the score? I directly asked the CEO of World Spreads and this was his exact response "On your specific points, there are presently no restrictions" but then why are people using WS telling me they are being stopped when using certain trading techniques?

IG have been good with me until early wednesday morning, about 4am i was scalping AUS/USD and on 2 occasions (both in profit) the option to 'close trade' was disabled, and had the message of 'unavailable' so i lost the pips, when i called they said it must of been internet connection

Whats your experience / take on this guys?

Have you considered that you do'nt need to do all your business through one outlet. I run 4 accounts with different providers.

 

[Black Swan]

This seems to be becoming a problem for profitable traders in Spreadbetting who are scalping... I am only beginning to perfect my scalping technique on IG Index and have not gone above £5 per point yet, but i am worrying that if i eventually get confident and back with a higher amount eg £20-100 per point i'll be red flagged instantly. Whats your experience / take on this guys?

LOL a "scalping" technique with an SB firm..nice one..

You can't scalp with an SB firm, so chill, you'll never experience being "red-flagged" as if you continue down that road you'll lose..everything..

Red flagged on T2W means having posts reported, sometimes for spamming stock picks, like a bucket shop operator..

 

[Pat494]

I know what you mean !

When circumstances start moving the markets in a predictable way Finspreads often just breaks the connection or "by phone" only "( can't get through ). It doesn't happen too often fortunately or I would have dumped them.

When big money is at stake I suppose it has to be expected ? Level playing field - not if it cost them too much imho

 

[Doomberg]

Have you considered that you do'nt need to do all your business through one outlet. I run 4 accounts with different providers.

Yeah i'll try this mate, at the minute its not a worry as im not using big amounts but judging by what everyone else says when you step up, they will stop you from trading if you are scalping

 

[Doomberg]

LOL a "scalping" technique with an SB firm..nice one..

You can't scalp with an SB firm, so chill, you'll never experience being "red-flagged" as if you continue down that road you'll lose..everything..

Red flagged on T2W means having posts reported, sometimes for spamming stock picks, like a bucket shop operator..

There are a few others who scalp with success with 1pt spread or less,

Im just in early stages but have had up to a 3/4 win lose ratio on 5 min candles

Although i seem to have a good start most days, and then lose the profits and often more

But i truly believe that once i stop taking crap trades my consistency will continue to improve

 

[Doomberg]

I know what you mean !

When circumstances start moving the markets in a predictable way Finspreads often just breaks the connection or "by phone" only "( can't get through ). It doesn't happen too often fortunately or I would have dumped them.

When big money is at stake I suppose it has to be expected ? Level playing field - not if it cost them too much imho

yeah its a piss take, other day i got a 20pt spike in a matter of seconds and my account locked for 3 mins

(just enough time for it to go back down)

 

[the hare]

There are a few others who scalp with success with 1pt spread or less

Why would you deliberately want to make things harder than they need to be ?

If tradings not challenging enough for you, in addition to scalping at an SB why not poke out an eye, cut off a limb, and drink a bottle of wild turkey before each trading session.

 

[Doomberg]

I didn't realise Spreadbetting is making it deliberately harder? But i may lack understanding due to lack of experience... Whats the best way in doing quick trades for a profit? Even with Forex brokers the minimum is about 1.6 spread so not sure why everyone says SB is that bad, Im currently setting up a new business so im not going to have 10k for a while for a 'proper trading' account, and from what i have researched even a proper trading account would work out with costs the equivalent of more than a 1pt spread? As i said im a newbie to this type of trading, even my successful bank share trades, they were all done on a SB platform

Whats the next step? Whilst keeping outlays as low as possible?

Cheers

 

[Black Swan]

Why would you deliberately want to make things harder than they need to be ?

If tradings not challenging enough for you, in addition to scalping at an SB why not poke out an eye, cut off a limb, and drink a bottle of wild turkey before each trading session.

Hahaha..nice one..

 

[tar]

don't worry u will not make it anyway !

 

[Doomberg]

Hahaha..nice one..

Haha i LOL'd at the drink a bottle of wild turkey before the trading session :cheesy:

 

[Doomberg]

don't worry u will not make it anyway !

And why's that then?

 

[Jack o'Clubs]

I'm impressed you're already making the £10k+ returns that make the tax advantage of spread betting worthwhile...

 

[Doomberg]

No way near that level mate, its the leverage i use them for as i don't have the capital for a larger trading account right now

What are my other options? Any help appreciated

 

[tar]

And why's that then?

ok there is a tiny chance after few years of trading and learning you could scalp profitably ...

 

[Black Swan]

I didn't realise Spreadbetting is making it deliberately harder? But i may lack understanding due to lack of experience... Whats the best way in doing quick trades for a profit? Even with Forex brokers the minimum is about 1.6 spread so not sure why everyone says SB is that bad, Im currently setting up a new business so im not going to have 10k for a while for a 'proper trading' account, and from what i have researched even a proper trading account would work out with costs the equivalent of more than a 1pt spread? As i said im a newbie to this type of trading, even my successful bank share trades, they were all done on a SB platform

Whats the next step? Whilst keeping outlays as low as possible?

Cheers

But you're not even paying 2 pip on the Euro with IG are you? You're limited risk so it's 5 pip and you'll be getting delayed fills 'cos that's how they (SB firms) mainly all make their money.

Look it's hard a fookin nuff making a low TF strat work when you're paying 1-2 pip spread and nothing else, I reckon you'll be five pips behind me in the market on just about every trade when you pull the trigger.

Now I don't know if you're just an attention seeking beaut who just refuses to listen but I've mentioned to you before to open a micro fx account and bin all the tax free marketing SB speak bo11ox. You're not going to make ten grand this year so just play around with the likes of FXCM/Alpari/Oanda micro..you'll get roughly 2 pip spread on the Euro and tbh you may have a chance of making a fist out of day trading if you get your head straight and have tight stops.

 

[Jack o'Clubs]

No way near that level mate, its the leverage i use them for as i don't have the capital for a larger trading account right now

What are my other options? Any help appreciated

What Black Swan said in the post above.

 

[Doomberg]

ok there is a tiny chance after few years of trading and learning you could scalp profitably ...

Yeah its gonna take me a while, im thinking of going demo for a bit when it comes to scalping, that way i can try risky new methods without bankrupting myself ha

Thought you were categorically saying i was not going to do ok lol

 

[Doomberg]

But you're not even paying 2 pip on the Euro with IG are you? You're limited risk so it's 5 pip and you'll be getting delayed fills 'cos that's how they (SB firms) mainly all make their money.

Look it's hard a fookin nuff making a low TF strat work when you're paying 1-2 pip spread and nothing else, I reckon you'll be five pips behind me in the market on just about every trade when you pull the trigger.

Now I don't know if you're just an attention seeking beaut who just refuses to listen but I've mentioned to you before to open a micro fx account and bin all the tax free marketing SB speak bo11ox. You're not going to make ten grand this year so just play around with the likes of FXCM/Alpari/Oanda micro..you'll get roughly 2 pip spread on the Euro and tbh you may have a chance of making a fist out of day trading if you get your head straight and have tight stops.

I have listened mate, but i cant install MT4 just yet.. im on a mac, and i need windows

Im in spain but do have a copy of UK Windows XP on its way to me, and can go from there

But, even then what is different from Alpari and IG if the spreads are similar? Thats what i can't get my head round, on IG if it says "P/L £25" then when i press close it is £25 In what way is IG 5 pips behind, if what i see is what i get, if you know what i mean? If its 5 pips behind when i see it, then when i click it will be so makes no difference?