Jbat001
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Nice article, swissgold! Anyone got the new album from The Streets? The title is "the hardest way to make an easy living", and the 'hardest way' in question is spreadbetting! When even he mentions it (in the eponymous track on the album), you know that SB has gone mainstream!
Do you think you might have gone down with IFX, City, Fins, etc because you use the same rented software and host?capitalspreads said:
http://www.arielcommunications.co.uk/
By the way if you are having trouble “hedging” through Crossfire maybe you should try www.futuresbetting.com . I’m on a bid/offer on Brent of 1 ½ pips……..your (not there anyway) ‘quote’ is 5 pips….a mere difference of $35/lot…….close NOT.
(Oh, by way I’ve traded oil on crossfire and charted with blue since the floor went)
capitalspreads
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bruno
i think you may have a misconception.... Ariel are a software developer and therefore do work for a huge number of companies. as they are experts in the SB arena it is natural that various companies will go to them for further work. Of course, by your lights, what we should have done is go to somebody with no knowledge whatsoever of trading platforms and spent months explaining exactly what we want and why whilst the company went slowly bust.
re brent ...well yes on occasion the spread will be 1 more often it is 2, 3 or 4 and in the 30 seconds I watched it occasionally went to 6 and 7. (this is at a very quiet market time) you are also trying to trade with the market so that if someone else gets there before you you will have to try the next price etc and the liquidity is not exactly huge (often 1 or 2 contracts). Our price is always 5 wide and you will almost always get the fill. The same applies to the FTSE Futures, theoretically you can trade on a 1/2 pip price but anyone who actually watches the markets can see that the usual spread is 1 to 1 1/2 pips and the liquidity is in about 5 to 10 contracts. And the prices change so quickly that you are as likely as not to miss the price. On our platform we quote 2 pips wide with no comms/brokerage etc and you can trade in the equivalent of 30 contracts on that price.
Our margins are fractions of the amount required on the site you mentioned and you can trade in non regular amounts
Every offering has its good/bad points I never state that we are the best at anything but for one stop shop in over 2000 markets you will find us difficult to beat.
Anyway good trading
Simon
on another point it is bad manners for me to hijack another thread so I would like to request that comments made about CS or questions directly to me be placed on the capital spreads thread............thks
i think you may have a misconception.... Ariel are a software developer and therefore do work for a huge number of companies. as they are experts in the SB arena it is natural that various companies will go to them for further work. Of course, by your lights, what we should have done is go to somebody with no knowledge whatsoever of trading platforms and spent months explaining exactly what we want and why whilst the company went slowly bust.
re brent ...well yes on occasion the spread will be 1 more often it is 2, 3 or 4 and in the 30 seconds I watched it occasionally went to 6 and 7. (this is at a very quiet market time) you are also trying to trade with the market so that if someone else gets there before you you will have to try the next price etc and the liquidity is not exactly huge (often 1 or 2 contracts). Our price is always 5 wide and you will almost always get the fill. The same applies to the FTSE Futures, theoretically you can trade on a 1/2 pip price but anyone who actually watches the markets can see that the usual spread is 1 to 1 1/2 pips and the liquidity is in about 5 to 10 contracts. And the prices change so quickly that you are as likely as not to miss the price. On our platform we quote 2 pips wide with no comms/brokerage etc and you can trade in the equivalent of 30 contracts on that price.
Our margins are fractions of the amount required on the site you mentioned and you can trade in non regular amounts
Every offering has its good/bad points I never state that we are the best at anything but for one stop shop in over 2000 markets you will find us difficult to beat.
Anyway good trading
Simon
on another point it is bad manners for me to hijack another thread so I would like to request that comments made about CS or questions directly to me be placed on the capital spreads thread............thks
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CityTrader
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Wasn't me Guvenor...
Back to the same old conspiracy theories.. "it wasn't me who lost the money Guv- the bookies. they tooks my money"
It really is this kind of crap that reminds why i spend so little time looking at this board anymore, but every so oftern, I take a little peak and there amongst all the bad workman, is normally some comment that grabs my attention.. this time it's the "then the taxman finds a loop hole scuppering everyones cunning plans of tax free millions anyway."
What loop hole? what on earth are you talking about?
CT
chrisw said:
Back to the same old conspiracy theories.. "it wasn't me who lost the money Guv- the bookies. they tooks my money"
It really is this kind of crap that reminds why i spend so little time looking at this board anymore, but every so oftern, I take a little peak and there amongst all the bad workman, is normally some comment that grabs my attention.. this time it's the "then the taxman finds a loop hole scuppering everyones cunning plans of tax free millions anyway."
What loop hole? what on earth are you talking about?
CT
CityTrader
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wasp said:
More utter b0 llocks. It's quite simple, you place your stop basis the UNDERLYING market. That way you have it in black & white ... of course, you wouldn't be able to blame the bookies for stopping you out. Guess it would be the markets fault..?
CT
CityTrader
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chrisw said:
Yes. and I have had a horror the last month and a half, but it's still NOT the bookies fault. It's not the market's fault. IT'S MY FAULT. I was running too big a book, started cutting too late, ignored the first bad day in the market, ignored all the warning signs- all of which has made for a real mess of 6 weeks - having given back probably all my profit of the previous 4 months of the year to date ( and January had been a very good month)
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wasp
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Sorry to hear you've given back all your profits. My hat goes off to you for making good till this point but I still stick to my guns to why I had such a hard time trading via an SB because, as soon as I changed to direct access my trading has become increasingly easier and a lot less problem free. A number of old issues I had went out the window and I just find things much better now.CityTrader said:
As for the loophole, I just don't believe the taxman will stand aside and let someone earn an income in the highest tax bracket and not try and have his share, quite happy to be wrong though!
CityTrader
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chrisw said:
The bookies pay a special gaming levy of 3% of the losing bets. It's a fairly safe assumption that most punters lose ergo the bookies win, and taxman takes his cut. To tax the wining punters, and grant releif to the losing punters would be a) counter productive and b) an administrative nightmare that would in all eventuality create no real income for the revenue. It ain't gonna happen....
May I suggest you get to know your bookies.. Use the phones not the internet. Take the guys you speak to out for lunch or drinks. become their friend not their foe...
wasp
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Didn't realise they paid the 3% gaming levy, I see how it could make a difference.CityTrader said:
Simon (@ CS) was offering the opportunity to visit the offices in his thread, but its one of those things I never got around too. Since now I trade DA, its something that'll probably never happen. Good idea though.CityTrader said:
roguetrader
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By and large I'd agree with that, I think the taxman is pretty happy with things just as they are, and I doubt he has any real interest in changing the law as it stands, I think the real risk for SB punters going forward is the explosion in online gambling, and the liklihood of a kneejerk reaction by the government to re-introduce gambling tax to curb this. So it wouldn't truly be about tax, tax would simply be the easiest way to hit it, since we're a nation used to taxes.
The idea that losers offsetting it forms a big barrier is I think a misconception, there are many ways to impose tax without making it easy for people to reclaim.
CityTrader
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roguetrader said:
The Revenue had to back track on gambling tax, when the main line bookies moved to Gibraltar. Surely that's exactly what would happen again? The industry would move off shore and the revenue would lose their 3% ?
Direct Access
An interesting thread indeed. Can some post some information or maybe paste a link where I can find some more info on ways to do direct access trading. I have been using the SB platform for quit a few months and increasingly feel the need to switch over to the 'actual' market- and this is primarily because I think it is getting very difficult (for me ) to make any money in a choppy market (swing trading wise) due to the spreads involved.
An interesting thread indeed. Can some post some information or maybe paste a link where I can find some more info on ways to do direct access trading. I have been using the SB platform for quit a few months and increasingly feel the need to switch over to the 'actual' market- and this is primarily because I think it is getting very difficult (for me ) to make any money in a choppy market (swing trading wise) due to the spreads involved.
roguetrader
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Erm .....that's prolly cause it is a spreadbetting site. You asked for Direct Accessrajibde said:
http://www.interactivebrokers.co.uk/php/main.php
roguetrader said:
Thanks Roguetrader for the link- this is the kind of site I was looking for; are you aware of any sites through which one can do direct access trading at a lesser margin requirement (i.e. <25000 USD)? I have seen it being mentioned in the forum as a passing remark but could not find anything specific.
roguetrader
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No sorry, that is a NYSE and NASD regulation, anyone breaching that rule and offering daytrading for less on those markets would have to be outside SEC jurisdiction, and you would be wise to look closely at what protection you had. You may however be able to trade on other markets for less, I'm pretty sure a pure futures account does not require this type of margin.. Trading UK stock may also not require this marginrajibde said: