Shall We All Just Close Our Spread Bet Accounts??

uk dave said:
Just close your account with the bad ones and let them go bankrupt.
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If you continue trading with a "bad" one, you should in fact examine why you trade at all. Don't blame the SB for lack of insight, take responsibility over your trading environment and stop ranting.
 
Jimmy Lulz said:
They do rip you off, of that I am certain.

At the same time, they do serve a purpose and I think it is quite possible under certain circumstances to use them profitably.

One would be well advised to be on one's guard when doing so, however.
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They don't rip you off, sure once in a while one or the other might play silly games. If you can't spot these and rearrange your trading environment, you should not trade at all. I have 15 years of overall trading experience. While a few newbies comes on here and think they know it all.
 
A bad workman always blames his tools.

I'd rather not lose up to 50% of my winnings thank you. And yes - I saved myself a small fortune in tax last year and switching to DMA won't mean I make twice as much money, not the way I trade.
 
How any of you guys manage to make any money from these 'bucket shops' is beyond me. In fact you deserve enormous credit if you do because the 'games' these guys play especially near market turning points must make short term gain nigh on impossible. And to combine this with the 'tricks' that are played on the actual markets must require a pair of unbelievably clear crystal balls.
 
gle101 said:
They don't rip you off, sure once in a while one or the other might play silly games. If you can't spot these and rearrange your trading environment, you should not trade at all. I have 15 years of overall trading experience. While a few newbies comes on here and think they know it all.
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You might have 15 years experience of watching the markets but not trading with spread bet companies you haven't, that's plainly obvious for us who actually trade/have traded with the bucket shops to see.
 
You have to expect that sb firms will cream off a pip here and there but you should not expect to have 30% + shaved off your winnings, if u do trade DNA and claim tax relief on losses.
 
Truth Seeker said:
You might have 15 years experience of watching the markets but not trading with spread bet companies you haven't, that's plainly obvious for us who actually trade/have traded with the bucket shops to see.
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The way you act and behave on this forum gives a very clear picture. Instead, be creative and positive, try to get your trading priorities in right order. The first rule of trading is taking personal responsibility for ones trading. This include not blaming the market, other people or trading platforms, for ones not so successful trades.
 
uk dave said:
You have to expect that sb firms will cream off a pip here and there but you should not expect to have 30% + shaved off your winnings, if u do trade DNA and claim tax relief on losses.
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I don't agree, been trading both, if you can't make it with SB, DMA want do you any good.
 
libertas said:
How any of you guys manage to make any money from these 'bucket shops' is beyond me. In fact you deserve enormous credit if you do because the 'games' these guys play especially near market turning points must make short term gain nigh on impossible. And to combine this with the 'tricks' that are played on the actual markets must require a pair of unbelievably clear crystal balls.
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Really, and how many percentage is successful trading DMA compared to SB?
 
Seen this type of thread many times over from people who simply don’t understand what they are doing.

They don’t know how to make money, see their profits wiped out by a few trades and blame the SB for dirty tricks robbing them.

They are so delusional everyone is at fault except themselves. But the fact is you rushed into this “get rich quick” scheme totally unprepared, no practise, no research, focussing on future profits and ignoring potential losses.

I suggest you go and do your homework. Find out what you can and can’t do SB’ing. The info is in this forum.
 
gle101 said:
Really, and how many percentage is successful trading DMA compared to SB?
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Who can answer that? Ask proper questions. What you need to ask is how many Day traders and scalpers actually spread bet in comparison to DMA, and how many traders swing trade in comparison to DMA/Shares traders.

I will take a stab. I would guess there are considerably more successful DMA traders who day trade and infact make more money than spread bet day traders.

I know quite a few swing traders who buy shares and options over spread bets with their rolling day interest charges and real time draw down problems.
 
Hoggums said:
Seen this type of thread many times over from people who simply don’t understand what they are doing.

They don’t know how to make money, see their profits wiped out by a few trades and blame the SB for dirty tricks robbing them.

They are so delusional everyone is at fault except themselves. But the fact is you rushed into this “get rich quick” scheme totally unprepared, no practise, no research, focussing on future profits and ignoring potential losses.

I suggest you go and do your homework. Find out what you can and can’t do SB’ing. The info is in this forum.
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I would say the least time frame you want to be trading spread bet with is 60 mins, that will give you some lead way to accept the slippage games, but it won't solve the held tickets and market closures.
 
As I've offered elsewhere, if SB was just a way to be cheated, traders in jurisdictions where SB is illegal or absent would be much more successful than in the UK. I don't hear any evidence that trading in e.g. the US, is vastly more profitable than here, let alone identifying the absence of SB firms as the reason.
 
Truth Seeker said:
I would say the least time frame you want to be trading spread bet with is 60 mins, that will give you some lead way to accept the slippage games, but it won't solve the held tickets and market closures.
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Weren't you the one complaining about losing thousands because of a few seconds' delay in trade execution?
 
gle101 said:
Really, and how many percentage is successful trading DMA compared to SB?
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It's not really a question of being successful or unsuccessful but the fact that one is intentionally handicapping oneself by trading with a SB over DMA. Would Tiger Woods play with inferior clubs bought at a jumble sale instead of using the latest and best equipment? Tiger would still be 'successful' playing with the inferior clubs but why would he handicap himself when he can have the best?
 
Truth Seeker said:
I will take a stab. I would guess there are considerably more successful DMA traders who day trade and infact make more money than spread bet day traders.
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I agree with your assumption Truth Seeker. But what you have to ask yourself is, why would 'successful' traders use DMA instead of spread betting?
 
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