who on here actually makes money trading?

BeginnerJoe said:
I did, I do, and I will. But not to the extent that you have. I had a toy with forex. Got annoyed with the excessive manipulation, and for the time being went back to equity and equity SB.
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Hi Joe,

If you don't like forex, try looking at index futures. Pretty straightforward really.

I'm not sure what you mean by "manipulation", but if that's aimed at your bucket shop, futures are exchange-traded so you can check their prices against the real ones and see if you're getting a fair shake.
 
BeginnerJoe said:
Got annoyed with the excessive manipulation, and for the time being went back to equity and equity SB.
Click to expand...
Hi B_J,
I don't trade forex either, nonetheless, your comment surprises me rather. I was under the (false?) impression that one of the main benefits of FX was the sheer enormity of it, making it very difficult for anyone to manipulate - with the possible exception of one or two peeps like Soros. Whereas, individual equities are much more prone to manipulation, resulting in wild price swings that bear little or no relation to the company sector, broader market picture or fundamental valuations. When I say 'manipulation', I mean anything that an individual does - deliberately or not - that results in a massive price move. Perhaps I've misunderstood you - and you were referring to something different?
Tim.
 
timsk said:
Hi B_J,
I don't trade forex either, nonetheless, your comment surprises me rather. I was under the (false?) impression that one of the main benefits of FX was the sheer enormity of it, making it very difficult for anyone to manipulate - with the possible exception of one or two peeps like Soros. Whereas, individual equities are much more prone to manipulation, resulting in wild price swings that bear little or no relation to the company sector, broader market picture or fundamental valuations. When I say 'manipulation', I mean anything that an individual does - deliberately or not - that results in a massive price move. Perhaps I've misunderstood you - and you were referring to something different?
Tim.
Click to expand...

I played with SB in forex. I found that I could induce an almost immediate move against me with a £10 per pip bet. The market mostly ignored £1 per pip bets, until multiple small bets began to build up. Coupled with the leverage, the market could very easily run me out of a position with a 20 to 30 pips move. These kind of moves don't happen in equities.

In any case the volatility for SB is easier to control in equities, so I find they are nicer to play with. If I didn't like the volatility of a £5 stock at £1 per pence move, I could do the same bet with a £2.5 stock, and the volatility of my bet is immediately reduced, assuming the underlying volatilities of the stock prices are similar.
 
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BeginnerJoe said:
I played with SB in forex. I found that I could induce an almost immediate move against me with a £10 per pip bet. The market mostly ignored £1 per pip bets, until multiple small bets began to build up. Coupled with the leverage, the market could very easily run me out of a position with a 20 to 30 pips move. These kind of moves don't happen in equities.
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:eek:

You are joking aren't you?

If your bucket shop is messing you around (they're not really, but still) , fair enough, move to another one. But if you think you're moving a currency with a £10 bet, that is so wrong it's the wrongest thing since Mr Wrong did what he does best to celebrate International Wrongitude Day by maxing out on the wrongness.
 
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BJ You are not emphasising the essential truth. With SB your broker controls your trade. Do you trust your broker or do you "TREAT YOUR BROKER LIKE YOU TREAT YOUR BITCH" Anton Kriel.
 
Yes I trust my casino because the market moves were observed from a different platform than the casino.
 
Bint_Crusher said:
The order flow is still with the Casino, or the Broker.
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Maybe. Given how easily the price could be manipulated by either the casino, or the market. My solution is not to play the game. But the curious thing is that they don't manipulate the stock prices to the same extent. I also observed the stock indices were manipulated in the same way as forex.
 
BeginnerJoe said:
Yes I trust my casino because the market moves were observed from a different platform than the casino.
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Fine, that's good, you've got a place that you can trade. Now you just need to realise that the movements you were seeing were in all likelihood not caused by your bet.

Currencies move because huge institutions are slinging tens of millions of dollars around all day long.
 
"I traded fx via SB"
"I lost money"
"SB's manipulate fx"
"I traded shares via SB"
...
 
Pazienza said:
Currencies move because huge institutions are slinging tens of millions of dollars around all day long.
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That's the theory. In practice I don't believe that is the case. Why don't you give it a try. Bet £10 per point on EUR/USD and we can all watch it go against you. I don't believe the direction of your bet will make a difference.

The market is a bit dead at the moment. But it will come alive the minute you throw it a £10 per point bone.
 
BeginnerJoe said:
I played with SB in forex. I found that I could induce an almost immediate move against me with a £10 per pip bet. The market mostly ignored £1 per pip bets, until multiple small bets began to build up. Coupled with the leverage, the market could very easily run me out of a position with a 20 to 30 pips move. These kind of moves don't happen in equities.

In any case the volatility for SB is easier to control in equities, so I find they are nicer to play with. If I didn't like the volatility of a £5 stock at £1 per pence move, I could do the same bet with a £2.5 stock, and the volatility of my bet is immediately reduced, assuming the underlying volatilities of the stock prices are similar.
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Joe you are not imagining. Brings back memories: there was a sb company (or a bucket shop if you prefer) I used for fx and I tried from time to time to abuse their invented prices (I knew the real market prices). So sometimes they would let me get in (10 pips or more better price than real), but at the end they realised I was taking advantage and started refusing entries. Not only that - if I had position in a big profit, I would have to phone them (they used to apply all sort of tricks - log me out, market not available etc.).
It's a shame they put all this obstacles - I liked their prices.

I guess they were playing other customers (taking their stops etc.)
 
bedsit said:
Joe you are not imagining. Brings back memories: there was a sb company (or a bucket shop if you prefer) I used for fx and I tried from time to time to abuse their invented prices (I knew the real market prices). So sometimes they would let me get in (10 pips or more better price than real), but at the end they realised I was taking advantage and started refusing entries. Not only that - if I had position in a big profit, I would have to phone them (they used to apply all sort of tricks - log me out, market not available etc.).
It's a shame they put all this obstacles - I liked their prices.

I guess they were playing other customers (taking their stops etc.)
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I used to suspect the SB company too. Now I don't. The markets are like that, except in individual equities.
 
BeginnerJoe said:
That's the theory. In practice I don't believe that is the case. Why don't you give it a try. Bet £10 per point on EUR/USD and we can all watch it go against you. I don't believe the direction of your bet will make a difference.

The market is a bit dead at the moment. But it will come alive the minute you throw it a £10 per point bone.
Click to expand...


BeginnerJoe said:
I used to suspect the SB company. Now I don't. The markets are like that, except in individual equities.
Click to expand...

Son are you smoking crack cocain? Just, wrong.
 
BeginnerJoe said:
That's the theory. In practice I don't believe that is the case. Why don't you give it a try. Bet £10 per point on EUR/USD and we can all watch it go against you. I don't believe the direction of your bet will make a difference.

The market is a bit dead at the moment. But it will come alive the minute you throw it a £10 per point bone.
Click to expand...

Christ Joe, I can't believe I fell for it. Good wind-up. (y)
 
Pazienza said:
Christ Joe, I can't believe I fell for it. Good wind-up. (y)
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No, it's not a wind up. I am telling you my experience. But then the trades I was playing with were scalping trades. For longer time frames, the effect of short term manipulation is not as severe.
 
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