Why isn't someone providing mortgages to successful traders

Lightning McQueen said:
you could try looking into gkfx webtrader, that's a sirix platform which I believe includes a copy trader function. their mt4 platform is sb, so the webtrader platform may also be sb?? or it may be cfd/forex? you'll have to go do some checking.
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Many thanks, I've reached out to them, but I think the mirror trading is for the CFD business which everyone offers.
Thanks again.
 
hello Strugglingtrader,

for average brokers its hard to find any but for technology providers you could try to reach an agreement with them for the requirement of service ,if you have any questions i will be happy to help, Good Luck !!
 
If you're consistently profitable why can't you increase your stake*?

*The stake depending on what kind of property you want for yourself
 
itspossible said:
Strugglingtrader = mr fox(discuss)
Click to expand...

Unlike the OP, I've only been to the dizzying height of £1,000/pip, also I bought my house as a cash purchase, and since then have bought a flat for rental which was a cash purchase also. Now my next property purchase in central London is going to cost 7 figures, and a mortgage will be required, unfortunately the lender(Birmingham Midshires) will only give me a mortgage as long as I have owned a property outright for over 6 months, not long to go now ;). It will be bought as a BTL with a interest only mortgage, but after 6 months that can be switched.

You will be pleased to know all my purchases have been bought via my trading.

As for your reason for jumping on my nuts, Je ne sais pas, alas maybe you should ask your mother if I'm your father. :LOL::LOL:

P.S. I would have loved to have started a journal omitting only my entries, but was told it would not benefit other traders, so I refrained, yet I look at your entry in the journals, and see that its very helpful...NOT. On the other hand, I may start one up, just to show you what can be done.

P.P.S. If you asked for some help with your trading, I sincerely would have helped you, but you just come across like a tool.

Now jog along to your demo account son, and leave the live trading to me.

Forever Yours
John.
:love:
 
Hi John .I tried trading for 5yrs and also played poker.I was very logical and always traded with a plan.After 5yrs i made a very small amount and was happy with the experience.I love the action but i dont think its possible for me to trade and make money on a consistant basis.I just enjoy watching now and reading about other peoples exploits.loves and kisses its possible:love:
ps-I suggest a fox for your avatar.several members have animals now.Ive seen a bear and my attitude has a cat.
 
I have never had the gonads to trade over £170 per pip - ( just 3 trades) and about 30 on £150 a pip - BUT it was with my own money and I am purely a retailer

You cannot place a £1+k or £2k order on a normal retail brokers platform ( most are limited to £500 ) and I know when a multi millionaire professional gambler I know placed £1200 a pip on the GU through Barclay's Capital he had a Capital account of over £1 million.

So John - are you also like struggling trader - ie ex commercial guy working in the industry before becoming a retail trader ???
 
Forexmospherian said:
I have never had the gonads to trade over £170 per pip - ( just 3 trades) and about 30 on £150 a pip - BUT it was with my own money and I am purely a retailer

You cannot place a £1+k or £2k order on a normal retail brokers platform ( most are limited to £500 ) and I know when a multi millionaire professional gambler I know placed £1200 a pip on the GU through Barclay's Capital he had a Capital account of over £1 million.

So John - are you also like struggling trader - ie ex commercial guy working in the industry before becoming a retail trader ???
Click to expand...

I placed my trades over the phone when I was trading at that level, and it was with a SB firm(which most would consider a bucket shop), and i had no issues at all, no issues with the so called stop hunting etc. I'm still friends with the guys who work there, and meet them now and then for a few drinks.

The only issue that ever arose was when I traded a FTSE 250 stock on a tip(again with the same SB company), and it took 2 days to get rid of it due to liquidity issues. They were quite good in giving me a lot of complimentary tickets to various events too.

I scalp of a 1 min chart without the use of indicators, and have only ever traded my own monies, and would never trade anyone else', as I have seen the stress some boutique fund manager friends receive from clients, and to all my friends and family who want me to trade on their behalf, my simple answer is, its against the law, as I'm not FCA registered.

I'm not ex-commercial at all, but have many friends who are, and met up with some whilst out in Dubai recently. I'm a firm believer in networking with people in the same field of endeavor, as you never know what extra knowledge you can pick up along the way, or when you may need anothers advice(or maybe I'm one of life's sad people that actually loves talking trading:LOL::LOL:).

Best
John.
 
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Forexmospherian said:
I have never had the gonads to trade over £170 per pip - ( just 3 trades) and about 30 on £150 a pip - BUT it was with my own money and I am purely a retailer

You cannot place a £1+k or £2k order on a normal retail brokers platform ( most are limited to £500 ) and I know when a multi millionaire professional gambler I know placed £1200 a pip on the GU through Barclay's Capital he had a Capital account of over £1 million.

So John - are you also like struggling trader - ie ex commercial guy working in the industry before becoming a retail trader ???
Click to expand...


I'm a retailer as well and have no experience with such stakes – nowhere near.

So far as OP’s target is concerned, it is achievable with much smaller stakes and 10k account (depending on a trading style). See how it can be done in less than 2 hours with 10k account (this is scalping only) and more than OP's targets
http://www.trade2win.com/boards/tra...e-get-better-than-all-you-10.html#post2513834
 
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Mr Fox said:
, and to all my friends and family who want me to trade on their behalf, my simple answer is, its against the law, as I'm not FCA registered.


John.
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Its that just to fob them off? My understanding was that to trade someone else's money with an SB or retail. All you need is the account in their name and then a power of attorney to give you control of the account.


I thought FCA regulation/exams was only required for those working at institutional level and those who are handing out investment advice.

It was a while ago when i researched so the rules could of changed since then.
 
ffsear said:
Its that just to fob them off? My understanding was that to trade someone else's money with an SB or retail. All you need is the account in their name and then a power of attorney to give you control of the account.


I thought FCA regulation/exams was only required for those working at institutional level and those who are handing out investment advice.

It was a while ago when i researched so the rules could of changed since then.
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I wouldn't necessarily say it's to fob them off mate, but primarily more a case of not being comfortable taking on the responsibility of someone else' monies, and also being under the impression of it not being legal under the FCA regulations. Even if the latter was wrong, I still wouldn't feel comfortable TBH.

I have offered to teach them on many an occasion, free of charge, but all wish not to take me up on the offer, for whatever reason they come up with.

Best
John
 
LOL, when my mates have asked me to teach them to trade, I tell them its impossible as its somthing your born with.!

Just to wind them up of course
 
ffsear said:
LOL, when my mates have asked me to teach them to trade, I tell them its impossible as its somthing your born with.!

Just to wind them up of course
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I partially agree, you are of course born with the correctly sized balls (and brain) which is essential to trading imo.

Having said that, a decent introduction to trading or an initial hand-holding session would probably save a lot of newbie traders from rinsing their first stake in the game totally unnecessarily - I know it would have certainly helped me, some mistakes there really isn't any point learning "the hard way".
 
f2calv said:
I partially agree, you are of course born with the correctly sized balls (and brain) which is essential to trading imo.
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I think the female traders I know would totally agree with you, but not for the reasons you thought.
 
Lightning McQueen said:
you could try looking into gkfx webtrader, that's a sirix platform which I believe includes a copy trader function. their mt4 platform is sb, so the webtrader platform may also be sb?? or it may be cfd/forex? you'll have to go do some checking.
Click to expand...


Hi LM.
They are not able to offer Mirror Accounts, but have referred me to Meta Quotes and their Multiterminal Platform. Any thoughts?
 
metrader said:
If you're consistently profitable why can't you increase your stake*?

*The stake depending on what kind of property you want for yourself
Click to expand...

Because you are one bad trade from humility. The increase to £2750 resulted in my biggest loss to date. I won't be trading at that size till after the summer IA.
 
Forexmospherian said:
I have never had the gonads to trade over £170 per pip - ( just 3 trades) and about 30 on £150 a pip - BUT it was with my own money and I am purely a retailer

You cannot place a £1+k or £2k order on a normal retail brokers platform ( most are limited to £500 ) and I know when a multi millionaire professional gambler I know placed £1200 a pip on the GU through Barclay's Capital he had a Capital account of over £1 million.

So John - are you also like struggling trader - ie ex commercial guy working in the industry before becoming a retail trader ???
Click to expand...


Hi F,
Your message raises an interesting question.
I didn't realize until your message that I might be able to get some rebates from the SB firm. I trade on average £5m per day, is that around your mark and do you get rebates?
We used to get soft dollar commissions back in the day from Bear Stearns, which I would equate to rebates.
Any advice?
ST
 
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