Odd

[TheRegulator]

"I am always telling my friends and anyone who asks me about trading (or any gambling) that the best thing to do is stay away from it."

Exactly and Agree, i couldn't have put it better.

And by the way there are many features brokers can do to limit trading activity and deal with gambling and trading responsibly. Limit leverage, Limit deposit, self exclusion, self time out period, limit trading frequency, behavior watch list, ban binary trading which is gambling. helpline, etc etc

But you know what they aren't doing it because they have not been forced to do it by regulators. So they ll carry on nicely until the regulator say so.

 

[tomorton]

You've been around for a long time. Don't know whether your consistently profitable or not. But tell the OP how it is. Everyone talks as if they know everything about trading and their all profitable. Come on let it out.

I'm profitable now, but like many or most others, that wasn't always the case. But my losses were always under control, both in the individual trade where I for years and years followed the 2% rule, and in the wider perspective where I knew whatever money I put into the SB account I could afford to lose and replace and lose and replace.

But every successful trader I ever read or met or posted with and believed said manage your risk and use a stop-loss so that you don't risk 100% of your account on a trade. Not just that, so did the SB firms I have traded with. In fact one of the platforms automatically entered a stop-loss when you entered a trade: it was just based on capital risk, not TA so I always altered it accordingly but even the SB firms themselves were trying to keep clients from busting their accounts.

 

[TheRegulator]

I'm profitable now, but like many or most others, that wasn't always the case. But my losses were always under control, both in the individual trade where I for years and years followed the 2% rule, and in the wider perspective where I knew whatever money I put into the SB account I could afford to lose and replace and lose and replace.

But every successful trader I ever read or met or posted with and believed said manage your risk and use a stop-loss so that you don't risk 100% of your account on a trade. Not just that, so did the SB firms I have traded with. In fact one of the platforms automatically entered a stop-loss when you entered a trade: it was just based on capital risk, not TA so I always altered it accordingly but even the SB firms themselves were trying to keep clients from busting their accounts.

"but even the SB firms themselves were trying to keep clients from busting their accounts."

Right, but that because the SB providers don't want accounts to be in negative balance. If they've got to loads of customers in the red, that not how they want to operate or show the regulators.

They don't want you in negative also because they don't want to be chasing you for the negative balance.

They not doing it out of the goodness of their heart.

 

[tomorton]

"but even the SB firms themselves were trying to keep clients from busting their accounts."

Right, but that because the SB providers don't want accounts to be in negative balance. If they've got to loads of customers in the red, that not how they want to operate or show the regulators.

They don't want you in negative also because they don't want to be chasing you for the negative balance.

They not doing it out of the goodness of their heart.

The account could not in my experience ever get into the red because the SB firm would start closing trades as soon as account margin dropped below a certain %. This has happened to me, I think from memory that they started closing the oldest trades first, and continued until margin level was again adequate. Obviously, on each individual trade there is also the safety measure of the stop-loss applied by either the firm or the trader.

What is your experience with UK financial spreadbetting please?

 

[TheRegulator]

The account could not in my experience ever get into the red because the SB firm would start closing trades as soon as account margin dropped below a certain %. This has happened to me, I think from memory that they started closing the oldest trades first, and continued until margin level was again adequate. Obviously, on each individual trade there is also the safety measure of the stop-loss applied by either the firm or the trader.

What is your experience with UK financial spreadbetting please?

I have no experience, training or education within the UK financial SB. I am your normal joe blog who got interested in looking at charts,patterns,waves,S/R,trendlines.

I started with countdown / sprint binary, then quickly realised this was absolute gambling.

I am the 90% (the majority of people here) but looking to increase my knowledge and skill.

Otherwise i know nothing else about FSB.

 

[tomorton]

I have no experience, training or education within the UK financial SB. I am your normal joe blog who got interested in looking at charts,patterns,waves,S/R,trendlines.

I started with countdown / sprint binary, then quickly realised this was absolute gambling.

I am the 90% (the majority of people here) but looking to increase my knowledge and skill.

Otherwise i know nothing else about FSB.

Then FFS stop talking about what you don't know about

 

[TheRegulator]

Then FFS stop talking about what you don't know about

There nothing wrong or untrue with what i've said about SB is there.

I think were going to have to agree to disagree about our views on FSB and the OP can make up his own decisions on how he wants to proceed.

 

[tomorton]

There nothing wrong or untrue with what i've said about SB is there.

I think were going to have to agree to disagree about our views on FSB and the OP can make up his own decisions on how he wants to proceed.

That's idiotic, you can't have different "views" on matters of fact. And even if there was room for a difference in judgement or interpretation, your views have no value if you have no experience in the field in question. You're just making yourself look stupid.

 

[TheRegulator]

That's idiotic, you can't have different "views" on matters of fact. And even if there was room for a difference in judgement or interpretation, your views have no value if you have no experience in the field in question. You're just making yourself look stupid.

Wow, no need to be like that.

I thought this forum was for people to come share ideas and discussion topics on trading. When i joined it didnt require experience in the field.

Whats your background then.

 

[mpups]

there nothing wrong or untrue with what i've said about sb..

as soon as you place a sell market order.. it stalls and shoots in the other direction. ... its like your positon acts as resistance. Its manipulated to go against you... they'll do all they can to stop you winning and get you in to margin call or bully you to closing your position..

:whistling

 

[tomorton]

Wow, no need to be like that.

I thought this forum was for people to come share ideas and discussion topics on trading. When i joined it didnt require experience in the field.

Whats your background then.

When you joined a year ago you asked for help and you got loads of it, from me and others, all completely respectfully and freely given. Now you're already giving out advice and warnings on something you have literally and self-admittedly no experience in.

On my experience with SB, I have had SB accounts with UK-based and regulated firms since March 2003. I have run SB's continuously since that date, I have SB'ed indices, stocks, commodities and forex, I have a 5-figure account with my preferred firm and am profitable.

 

[TheRegulator]

:whistling

Maybe you can explain to the OP what happened then so he is better informed.

 

[TheRegulator]

When you joined a year ago you asked for help and you got loads of it, from me and others, all completely respectfully and freely given. Now you're already giving out advice and warnings on something you have literally and self-admittedly no experience in.

On my experience with SB, I have had SB accounts with UK-based and regulated firms since March 2003. I have run SB's continuously since that date, I have SB'ed indices, stocks, commodities and forex, I have a 5-figure account with my preferred firm and am profitable.

Respect. I am looking for a mentor how much do you charge.

 

[tomorton]

Respect. I am looking for a mentor how much do you charge.

I have posted full information on what I'm doing and what I've done wrong in the past. Always happy to jump in with an answer or opinion if its some specific issue I know something about.

 

[mpups]

Maybe you can explain to the OP what happened then so he is better informed.

the OP isn't bothered about that now, hes more interested in you :cheesy:

 

[brewski1984]

You’re sounding like a guy who loaded up big stakes and got burned regulator? Do you feel it was the bucketshops fault you lost because they allowed you to lose it or do you feel it’s your fault you lost it?

 

[FXX]

Everyone has commented on brokers but not a single post about the obvious. You are just a drop of water in a very big ocean.

What is the reason you are entering the trade and what is your trade plan?

If you are entering a trade based off charts alone then ask yourself this. Can everyone else see what I am seeing without requiring a special configuration of indicators and or price structure? My point is you need to align your expectations with the way you are trading. If you want to be in a position where the trades you enter have a better chance of success then you need to operate in a framework like the professional traders.


Sent from my SM-G950F using Tapatalk

 

[TheRegulator]

You’re sounding like a guy who loaded up big stakes and got burned regulator? Do you feel it was the bucketshops fault you lost because they allowed you to lose it or do you feel it’s your fault you lost it?

I think everyone posting here has got burned first no? No one immediately become professional and before transitioning to be profitable. Even your self I imagine. You didnt get burned ?

It might take me a few good years before people get profitable depends how much your willing to take a hit before giving up or continuing, so in the mean time I feel its okay for me to bitch about the losing and take it out on the provider and market.

The SB provider is at fault to some extent, allowing a noobie to use high leverage. What kind of responsible provider is that?

I am also at fault for being inticed by the great promotional ads about SB. Were all consumers when it comes to marketing products. You see it and you like it, you go and buy in to it.

 

[TheRegulator]

You’re sounding like a guy who loaded up big stakes and got burned regulator? Do you feel it was the bucketshops fault you lost because they allowed you to lose it or do you feel it’s your fault you lost it?

Lets not forget bucketshop is like your William hill bookies. They are there to take your money and not the other way around.

 

[tomorton]

I think everyone posting here has got burned first no? No one immediately become professional and before transitioning to be profitable. Even your self I imagine. You didnt get burned ?

It might take me a few good years before people get profitable depends how much your willing to take a hit before giving up or continuing, so in the mean time I feel its okay for me to bitch about the losing and take it out on the provider and market.

The SB provider is at fault to some extent, allowing a noobie to use high leverage. What kind of responsible provider is that?

I am also at fault for being inticed by the great promotional ads about SB. Were all consumers when it comes to marketing products. You see it and you like it, you go and buy in to it.

Personally, I never got burned, but I did used to be a poor trader.

I actually agree the SB firms could do so much more to guide new clients, and said as much in my response to ESMA on proposed regulation. There's a lot of options they have open to help new traders and guide them past dangerous mistakes, and they could do these things cheaply and easily and should do so without the need for legal compulsion if they valued the long-term relationship. But, I suppose they're short-termists.

Then again, when I drive away from Majestic with another 2 dozen bottles of wine, or Sainsburys with half a dozen pork pies, they don't say to me, oh that's perhaps enough for this year don't you think? So maybe the SB firms aren't really worse than anyone else trying to make money from us.