spanish89...

[N Rothschild]

also dont forget the forumla to loosing money fast...over-leverage

 

[keano]

Well, because he isn't a successful trader. Obviously.

He has been for a few months at least, averaging over £1000 per week.

 

[arabianights]

I don't really think there's a correlation between being a succesful trader and bothering to pay council tax (which, er, reminds me...). £1000 a week tax free is rather good from a £10 grand account. I know I couldn't make 10% consistently every week.

But needing to claim housing benefit is a bit odd - presumably though spread betting doesn't count as income and so he's perfectly "entitled" to it?

I have no problem with someone who claims benefit they don't need - the problem is with the system that permits / encourages it. If anything I think claiming it if you find it worthwhile doing so is practically a duty for the functioning of an efficient market!

 

[porph]

I certainly would be claiming any benefits however do you not need to show some evidence of attempting to get a job?

 

[N Rothschild]

claiming benefits when you dont need them? how moral

 

[porph]

Surely due to the nature of his income it can not be relied upon in anyway whatsoever. I don't know how morals could ever be discussed on this forum!

 

[arabianights]

claiming benefits when you dont need them? how moral

Benefits are not charity. They're wealth redistribution.

That said I've never claimed any benefits, unless you count student loan... Only because it's too much hassle and I'm not eligible though.

 

[shadowninja]

it's too much hassle

Indeed.

 

[LiamH]

I don't know how many of you have read through his thread on et but from what I can gather he's only managed the 1k a week for a few weeks a while ago, I believe he's been struggling for the last month or so?

I've seen some fairly up and down posts.. sometimes he's ecstatic due to making a couple of hundred in a day and then the very next post it seems he's cursing the day he ever looked at oil because he's lost a few hundred... lol

Fair play though.. He's doing better than me

 

[dick_dastardly]

Just because someone doesn't need to claim benefit isn't necessarily a reason not to claim benefit. If it's there then why not take it ?

I mean, none of these bloody high and mighty members of parliament miss a trick when it comes to making expense claims do they ?

( I know expenses and benefits are not quite the same thing but you get my point )


dd

 

[FXSCALPER2]

He has been for a few months at least, averaging over £1000 per week.

I do want him to do well and I was thinking he improved from what I read here. But, if he is still doing all the stupid things he used to do, he won't make it. The fact that someone makes a few quid for a few months doesn't mean much. It depends how they do it. Right now, I can short cable with no stop every time it rallies and look like a genius because the thing is just going down. I can do it for a few weeks or even months, but it is a stupid thing to do over the long run, especially if you are an 18 year old with no informational advantage or knowledge.

Ed Seykota, despite being a bit tiresome, knows a thing or two about this stuff. He doesn't care about being whipsawed because one big win takes care of it. If you do the reverse, expect to lose at some point.

 

[Charlton]

Just because someone doesn't need to claim benefit isn't necessarily a reason not to claim benefit. If it's there then why not take it ?

I mean, none of these bloody high and mighty members of parliament miss a trick when it comes to making expense claims do they ?

( I know expenses and benefits are not quite the same thing but you get my point )


dd

If he is entiled to benefit then, by definition, he should claim it. He is technically unemployed and also has a low level of savings so may well be entitled to other supplementary state benefits, not to mention discounts on the use of local amenities.

Equally he is obliged to pay council tax.

Charlton

 

[shadowninja]

Just because it's available, it doesn't mean you have to take it if you don't need it. I don't like this attitude. I could make myself entitled to it: I could, for instance, buy a nice shiny new Ferrari F430 Scuderia, and then claim benefits (on account of having no savings). Interesting idea...

 

[Charlton]

Just because it's available, it doesn't mean you have to take it if you don't need it. I don't like this attitude. I could make myself entitled to it: I could, for instance, buy a nice shiny new Ferrari F430 Scuderia, and then claim benefits (on account of having no savings). Interesting idea...

I agree with your sentiment. Don't get me wrong - I think he does need it, but in order to claim it he also has to fulfil the necessary obligations on his part i.e. to be available and looking for employment.

With rights come obligations and, as I said in the previous message, that includes paying his council tax !!

Charlton

 

[dick_dastardly]

Well I dunno about this Spanish89 chap.

He certainly does seem to have everyone talking about him.

I can't help but have a sort of sneaking admiration for him even though I know he's done some dodgy things in the past.

A sort of trading world answer to Eddie the Eagle I suppose.


dd

 

[shadowninja]

 

[shadowninja]

Here, have another.

 

[keano]

maybe this is how he makes a grand a week!.

"OMG this is just ridiculous on aud/usd!!

Made 55points so far in 2 trades (after 8points spread),
and its so so easy because my sb firm has nearly a 30seconds dleay compared to the chart (realtime)..

So im just front-running my sb firm now and cashing in at levels taht are 20ponts above where the market has fallen to, and then buying back 1min later when the sb form updates to taht level and the price has then really gone up... "

 

[UKtradergirl]

maybe this is how he makes a grand a week!.

"OMG this is just ridiculous on aud/usd!!

Made 55points so far in 2 trades (after 8points spread),
and its so so easy because my sb firm has nearly a 30seconds dleay compared to the chart (realtime)..

So im just front-running my sb firm now and cashing in at levels taht are 20ponts above where the market has fallen to, and then buying back 1min later when the sb form updates to taht level and the price has then really gone up... "

What SB company is he using? i want to join! The prices i've been getting are worse than normal if anything, though still making money as everything is just shooting down.

 

[BSD]

maybe this is how he makes a grand a week!.

"OMG this is just ridiculous on aud/usd!!

Made 55points so far in 2 trades (after 8points spread),
and its so so easy because my sb firm has nearly a 30seconds dleay compared to the chart (realtime)..

So im just front-running my sb firm now and cashing in at levels taht are 20ponts above where the market has fallen to, and then buying back 1min later when the sb form updates to taht level and the price has then really gone up... "

Hmm.

I'm all for raising my hat to anybody making great percentage returns, and have said as much here where he is concerned, making 1k weekly off of 10k is absolutely superb.

But to be honest, there is absolutely no way that a broker could have lagging prices in real accounts and hope to survive financially for even a week.

DEMO accounts can have price lags, but real accounts ?!?

Absolutely No Way unless he happens to have found the dumbest mafia money laundering outfit on this planet that don't mind hemorrhaging money.

So is all this just some elaborate joke ?