Staying under the radar

[Dowser]

Hi Chris, is your strategy self adaptive.

Yes its a discretionary approach that is self adaptive, whether its successfully self adaptive only time will tell

 

[Dowser]

Trade futures. Why do you need a bucket shop?

Yes I hope to one day. I think its easier to SB when your starting out though. I'm guessing you need put down £10K + with a broker to trade futures no?

 

[Dowser]

Hi there,

Quite aside from the point that there are certain advantages to spread betting, which when one consistently wins more than loses, begin to make sense... alas (...sigh) & OTOH, you may not need to break out the champagne just yet. You have to bear in mind, with all respect, that anyone can have a good streak - and these can last several months - cruelly catching the unwary when reality bites back. Nonetheless, it's arguable that the s/b co will have, and should continue to have no problems with you on the info you've given.

Sadly, it's far more likely than not, that what you've been doing recently just happens to be suiting current market conditions, rather than that you've finally cracked how to make consistent money from spread betting. This poster doesn't wish to put a dampener on those good vibes, but most would arguably agree that consistent success is measured in years rather than months, nor weeks - for that matter. I still wish you every success.

Best case scenario is that if you do happen to become consistently successful over years, you'll then make it into 'A' book, and again the SB co should have no issues with you, as then your bets will be mirrored on the wider market. But, again, from what you've written, it seems that that is still some time away yet. Enjoy - but don't make any plans to give up the dayjob just yet! HTH

I totally agree. One thing trading has taught me is humility. I'm in it for the long haul and understand that success is measured in years

Cheers

 

[Sonicscooter]

Yes its a discretionary approach that is self adaptive, whether its successfully self adaptive only time will tell

Mine has been running as such for nearly two years, after some time spent writing the software, i enjoy looking back over time and seeing how it auto adjusts to the market. I only trade the FTSE.

Regards Shane.

 

[Dowser]

If your strategy relies on 'non slipped fills' via stop or market orders to be profitable, then at some point youll be noticed, and most likely given more 'realistic' fills.
Thats about it. Theres a whole lot of misconception of how SBs etc see puters. Have a read of Other Side of the Screen. Itll help you understand A book vs B book and give their view of us.

Yes that's what i'm worried about. I enter with market orders and so far CMC has given me pretty sweet execution.

 

[Dowser]

a 10 point stop on the dow ??????????????????????????????????????????????????????????????????????

Yes!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[maxima]

Yes I hope to one day. I think its easier to SB when your starting out though. I'm guessing you need put down £10K + with a broker to trade futures no?

No. $5000 pretty much everywhere. Don't use uk brokers to trade us futures.

If your strategy works you are loosing big percentage on each entry exit cos of the expensive spreads. And your stop exit on fast market is most likely X2 more expensive than that even..

 

[darktone]

Yes that's what i'm worried about. I enter with market orders and so far CMC has given me pretty sweet execution.

If youre getting a bit of slippage here and there along with the odd requote and are happy with that, dont sweat it.
Winner or a loser they want your business. Its only if youre taking advantage of their pricing or are so big you can hurt them that it becomes a problem, afaik.

 

[Dowser]

No. $5000 pretty much everywhere. Don't use uk brokers to trade us futures.

If your strategy works you are loosing big percentage on each entry exit cos of the expensive spreads. And your stop exit on fast market is most likely X2 more expensive than that even..

thanks will look into it

 

[maxima]

If youre getting a bit of slippage here and there along with the odd requote and are happy with that, dont sweat it.
Winner or a loser they want your business. Its only if youre taking advantage of their pricing or are so big you can hurt them that it becomes a problem, afaik.

Not that simple. They.want your money. Different scenarios arising from this point... SB is like walking Brixton at night.. few years it goes smoothly then one day they just had nothing else to do.. bang.. you are dead..

 

[EnlightenedJoe]

Hi, I been Spread betting US30 for a couple of years and have started to make regular profits. I've only been trading £1/pt because I thought the money was a distraction, but now i think I'm ready to start compounding my account. My risk on each trade is £10 which is much less than 1% of my capital. My question is at what point do spread betting companies start to take notice of successful clients in terms of position size. I'm guessing anything under £10/pt is small change for them. My trades generally last from 15 minutes to 2 hours so I don't think they could accuse me of scalping!

Cheers

Chris

I am surprised they haven taken notice already. When I played bucket shop and had a string of winings, they asked if I was a pro trader pretty quickly.

Why must you go £1 to £10 ? What's wrong with £2, £3, £4 then £5, etc. When you start to believe they will give you money is when they will take it from you. When you increase the bet, you increase their incentive.

When you say consistent profit what do you mean by that ? Are you consistently making 10p wins on £1 bets ? Size represents the greatest danger in "trading". It will cut you down before you know who is how, when is what.

 

[darktone]

Yeeaahh.

Ok, lets say im CMC and its come to my attention that mr cbrad is a safe hedgeable pair of hands and a consistent 1ppp winner. Ive been taking the other side of his bets for a year (bigger fish to fry) and hes done nothing but take money out of me.

Do I :-

1) F**k with him in the hope he gets pissed off and trades with someone else.
2) Directly route all his plays to my LP.
3) Tailcoat him at 100 x his size.

 

[Sonicscooter]

Yeeaahh.

Ok, lets say im CMC and its come to my attention that mr cbrad is a safe hedgeable pair of hands and a consistent 1ppp winner. Ive been taking the other side of his bets for a year (bigger fish to fry) and hes done nothing but take money out of me.

Do I :-

1) F**k with him in the hope he gets pissed off and trades with someone else.
2) Directly route all his plays to my LP.
3) Tailcoat him at 100 x his size.

This is great, i don't need to post DT, you're doing the typing for me....

 

[Dowser]

I am surprised they haven taken notice already. When I played bucket shop and had a string of winings, they asked if I was a pro trader pretty quickly.

Why must you go £1 to £10 ? What's wrong with £2, £3, £4 then £5, etc. When you start to believe they will give you money is when they will take it from you. When you increase the bet, you increase their incentive.

When you say consistent profit what do you mean by that ? Are you consistently making 10p wins on £1 bets ? Size represents the greatest danger in "trading". It will cut you down before you know who is how, when is what.

I've no intentions of going straight to £10/pt. The plan is to risk 1% of my capital per trade. When I say regular profits I mean that over a period of months I have made a profit at the end of every week. I set my stops at 10 and Limits at 50

 

[EnlightenedJoe]

I've no intentions of going straight to £10/pt. The plan is to risk 1% of my capital per trade. When I say regular profits I mean that over a period of months I have made a profit at the end of every week. I set my stops at 10 and Limits at 50

You said £10 is near 1% of your capital. So, a 10 point stop represents a 10% risk to your capital at £10 a point. You are not risking 1% but 10%.

What does limits at 50 mean ? Max loss at £50 ? That's risk of 5% and not 1%.

 

[Dowser]

You said £10 is near 1% of your capital. So, a 10 point stop represents a 10% risk to your capital at £10 a point. You are not risking 1% but 10%.

What does limits at 50 mean ? Max loss at £50 ? That's risk of 5% and not 1%.

I said I risk £10 per trade which is much less than 1% of my capital. Honest, i'm not winding you up. Just look at the first post in this tread!

Limits at 50 means I take profits at 50 points

 

[EnlightenedJoe]

I said I risk £10 per trade which is much less than 1% of my capital. Honest, i'm not winding you up. Just look at the first post in this tread!

Maybe we are confused about the definition of risk. Risk is how much you will lose when the stop is hit. Risk does not mean the size of your bet.

In other words, betting 1% of your account represents 10% risk to your account.

 

[Sonicscooter]

Maybe we are confused about the definition of risk. Risk is how much you will lose when the stop is hit. Risk does not mean the size of your bet.

He bet £1, and risks £10....which part are you struggling with.

 

[EnlightenedJoe]

He bet £1, and risks £10....which part are you struggling with.

I am struggling with £10 being roughly 1% of account but he wants to bet £10, so the risk is 10 times bigger than £10.

 

[darktone]

started/gap
tp/gap

All in your favor if using limits.