Lee Shepherd
Senior member
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Guys,
Lets drop the sympathy and get real. The chances of trading successfully with £150 is next to zero. It maybe that this guy was trying to panic close when going grossly against him instead of simply putting in stops. Scalping with Spreadbet companies is difficult, more so when they are huge sizes of maybe £50 per point or more depending on what market. This guy would have only enough resources to have £1 per point, hardly worth them putting him on dealer intervention.
Remember, spreadbet bookies allow you to bet against the other guys, when their books become unsteady, ie, not 50-50 then they take the rest to market to hedge their bets. They will NOT take £1 to market as their is no equivalent lot size and would cost them more than simply paying out the newbie. When on dealer intervention you can find that fill times become slower as they take some or all of the order direct to market or simply get a traders opinion whether to or not. If you feel this unfair or intolerable then it would be time to move to DMA.
I say again, they would not have him on dealer intervention for his £1pp or total of £150.
Scalping is not liked generally by SB companies as they cannot hedge their bets in time before you've closed out again.
Lets look at what £150 will get you (apart from in trouble):
One £1pp contract would cost near this amount in margin so before you know it, a few points against you on one single trade means a margin call and risk of the trade being closed out against your will.
Lee Shepherd
Lets drop the sympathy and get real. The chances of trading successfully with £150 is next to zero. It maybe that this guy was trying to panic close when going grossly against him instead of simply putting in stops. Scalping with Spreadbet companies is difficult, more so when they are huge sizes of maybe £50 per point or more depending on what market. This guy would have only enough resources to have £1 per point, hardly worth them putting him on dealer intervention.
Remember, spreadbet bookies allow you to bet against the other guys, when their books become unsteady, ie, not 50-50 then they take the rest to market to hedge their bets. They will NOT take £1 to market as their is no equivalent lot size and would cost them more than simply paying out the newbie. When on dealer intervention you can find that fill times become slower as they take some or all of the order direct to market or simply get a traders opinion whether to or not. If you feel this unfair or intolerable then it would be time to move to DMA.
I say again, they would not have him on dealer intervention for his £1pp or total of £150.
Scalping is not liked generally by SB companies as they cannot hedge their bets in time before you've closed out again.
Lets look at what £150 will get you (apart from in trouble):
One £1pp contract would cost near this amount in margin so before you know it, a few points against you on one single trade means a margin call and risk of the trade being closed out against your will.
Lee Shepherd