Worldspreads upgraded!

[gle101]

this thread is confusing me!! I thought the spread gives the SB its profit.

The answer to Legions question is to use the appropriate instrument for the trading style.
If you want to scalp, you go direct access.
SB is, generally speaking, ideal for swing-trading, as the spread is small relative to the size of pip-moves you go gunning for.

Are you quite sure? The commission won't eat you up? I guess, it depends on the instrument you are trading, and the pip-range setup in your trading.

 

[gle101]

Actually i will be sad to leave - i've met some really decent traders and people in my time in SB.

Listen the more trading means the greater potential for in mathematical terms covariance this provides a measure of the strength of the correlation between two or more sets of random variates. The trading term for a trader that over trades is called churning and if you mix to 2 variance togehter noise and variance you meet something called the random walk theorem. There is no normal distribution to how the markets work, this is called random walk theorem! Perhaps studying the price action or becoming an experienced trader makes one more aware of the trading enviroments. However if i asked any good trader at any given point where the markets will be in 2 mins 7 times out of 10 you will be wrong. What i am trying to say is that most traders will get it wrong, but utilise all possible entry and exit points that benift you the trader and if that means a better spread why not use it?

Yes Marvin, I guess you will miss the heat as well, ha ha! Anyway there is a time for everything in life, and to move on to something entirely new, can be very fulfilling and rewarding.

 

[c6ackp]

My Ham-fisted attempts as described by a certain trader may not of worked but hey you live and learn....

Ooops - that was me Marvin. Hope that wasn't too unfair.

Lots of T2W threads seem to get a bit out of control - it's something to do with the anonymity I guess. I'm sure if we were all sitting in a room together we would all be a lot more polite (most of us, anyway!).

Good luck in Honkers.

c6

 

[laptop1]

I use spreads on certain stocks and some other filters to get me in a trade to fine tune my entry. So it doesn't matter if WS speed is spot on. On their trading platform,.I have got a method that gets me in early its good for 3 to 5 points on the Dow. many times though I scratch the trade, but WS would accuse me of scalping by doing this. I do try to go for 7 to 20 point moves.In fact I myself dont use the YM to look for moves. I use spreads internals.

Anyway when I scratch a trade over the day it looks like I am a pure scalper. But the fact is. It called money management. In looking after ones capital. WS would have plenty of time to hedge my bets if they wish to do so. Will WS let profitable traders trade. at this point I would say NO. But I have sent them a 2nd letter asking if I would be allowed back. I felt I done nothing wrong when I was trading with them.before they placed me on referral They said their prices was slow. But now WS are saying prices are fast as IT have sorted it out.. So I see no reason why I cant come back. We see what answer I get of Mr L. Stack Compliance officer at WS. … should know something in a few days.

However, I am also willing to trade no more than 5 times a day. I cant be fairer than that.

 

[MarvinS]

Yes Marvin, I guess you will miss the heat as well, ha ha! Anyway there is a time for everything in life, and to move on to something entirely new, can be very fulfilling and rewarding.

Hong Kong is not a cake walk. It can also be murder on the dance floor in Banking! Fancy writing algo systems for credit derivs and then going to sell them to a discount brokers.

 

[MarvinS]

Ooops - that was me Marvin. Hope that wasn't too unfair.

Lots of T2W threads seem to get a bit out of control - it's something to do with the anonymity I guess. I'm sure if we were all sitting in a room together we would all be a lot more polite (most of us, anyway!).

Good luck in Honkers.

c6

Cheers Crackp! But if we all sat in a room together it would be like a cubic mess of distortionate rubbish. Polite and anonymity never come hand in hand and Laptop1 may use the name Ahmed. (Being of the political errect stance).

 

[Legion]

so I guess its fair to say bookies are not suitable for all traders, depending on their time horizons, so I guess the bookies will have to continue to Ban , and deal with the worldwide public window continual cycle of "Ive been banned for trading"

However why dont the bookies just state on their websites that scalping here is not permitted?

Even ,in the bookies little guide to help new traders etc ,tell em the types of style traders and suggest openly that scalpers should go elsewhere.

why cant they just do that? or else a few days,weeks,months down the road, the same negative roundabout will cycle onwards.. or do the bookies think, ohh well, lets just "hope" it dies down with these couple of banned customers etc...

 

[laptop1]

Cheers Crackp! But if we all sat in a room together it would be like a cubic mess of distortionate rubbish. Polite and anonymity never come hand in hand and Laptop1 may use the name Ahmed. (Being of the political errect stance).

WHAT ARE YOU APPLYING MarvIn, that I may use the name Ahmed. Being of the political errect stance.

Are you trying to provoke me!

 

[c6ackp]

Cheers Crackp! But if we all sat in a room together it would be like a cubic mess of distortionate rubbish. Polite and anonymity never come hand in hand and Laptop1 may use the name Ahmed. (Being of the political errect stance).

What's a "political errect stance" - is that something you'd see at a lapdancing venue near the house of commons?

 

[MarvinS]

I have a Crack legion of Laptops on my case at all times! How am i too cope and yet i have a Gle of hope that manages to always shine. Come on chaps i am not applying anything more just make this thread more sensible.

 

[Phil Mibbutz]

I'm getting worried because Marvin is making sense, particularly about hedging. The more clients a SB company has, the more the short and long positions will tend to balance, and the less the risk for them because each bet is a smaller proportion of the total. Result; punters get tighter spreads and SB company still makes a nice profit, a)from the majority who always lose eventually, b) from the spread and c) from the interest on client funds held.
(And presumably there's plenty more to be made by using client money to trade in the real markets, or is that against the rules?!)

 

[MarvinS]

I'm getting worried because Marvin is making sense, particularly about hedging. The more clients a SB company has, the more the short and long positions will tend to balance, and the less the risk for them because each bet is a smaller proportion of the total. Result; punters get tighter spreads and SB company still makes a nice profit, a)from the majority who always lose eventually, b) from the spread and c) from the interest on client funds held.
(And presumably there's plenty more to be made by using client money to trade in the real markets, or is that against the rules?!)

Oh cheers Phil! You finally got it. No we cannot use client funds unless however you signed your money away by stating you are intermediary clients. In the most part SB clients are private clients and funds are always segregated. I must also admit we will pay INTEREST on funds of greater than £20k. Thats on un-encumbered funds, you will get 1% below our bank, that is i believe more than you will get at other SB's...

 

[laptop1]

I have a Crack legion of Laptops on my case at all times! How am i too cope and yet i have a Gle of hope that manages to always shine. Come on chaps i am not applying anything more just make this thread more sensible.

I'm on you case?? I am only asking for a simple answer YES or NO if I can trade on instant executions

BUT WHAT ARE YOU APPLYING ....BNP again....MarvIn, you said that I may use the name Ahmed. Being of the political errect stance.

Explain what you mean by this.

 

[MarvinS]

I'm on you case?? I am only asking for a simple answer YES or NO if I can trade on instant executions

BUT WHAT ARE YOU APPLYING ....BNP again....MarvIn, you said that I may use the name Ahmed. Being of the political errect stance.

Explain what you mean by this.

Sent you a P.M. laptop1 - no i will not be working for BNP paribas!

 

[laptop1]

Sent you a P.M. laptop1 - no i will not be working for BNP paribas!

Just got you PM..Thats better, Lets hope WS can settle this matter soon.

As for the BNP Paribas launches a private bank in Shanghai. Established in this sector for many years in "Hong Kong." I tell the BNP you coming to Honk Kong.watch out for the local mafia they not very nice if you on the worng side of, ho if you see. big ass dragon tattoo all over that chinese construction worker's back? He's a triad enforcer boy, don't fock with him.Russian mafia got nothing on the Honk Kong triad.good luck out there :cheesy:

 

[FXSCALPER2]

Exactly my point, Trendie. In your example, the SB company makes his money BECAUSE one of the traders lose. A real market maker should not care whether both clients win or lose because he sells to you at a higher price and turns around and buys from somewhere for a lower price. That is what making the money from the spread means. In your kind of scenario, the SB firm is taking a chance that a lot of its clients would lose because, if they don't, he is gonna be out of business pretty quickly offering a 1 pip spread in a market where he himself gets worse than 1 pip. This is not a conspiracy theory, it is a fact.

this thread is confusing me!! I thought the spread gives the SB its profit.

If a quote was at 100-01.
And there was a buyer, he would buy at 101.
A seller would get in at 100.

If the underlying moved +20 to be quoted at 120-21.

The buyer exits at 120, giving a gain of +19. ( the 1 pip spread being his cost of not getting the full +20).
The seller exits by covering at 121, a loss of -21.

The market moved +20, the winner got +19, the loser got hit for -21.
The SB gets the 2 pip difference.
Marvins description of more players meaning a self-hedged market seems to make more sense than the conspiracy theory that abounds here.

The answer to Legions question is to use the appropriate instrument for the trading style.
If you want to scalp, you go direct access.
SB is, generally speaking, ideal for swing-trading, as the spread is small relative to the size of pip-moves you go gunning for.

(bet Marvin cant wait to move on )

 

[gle101]

Exactly my point, Trendie. In your example, the SB company makes his money BECAUSE one of the traders lose. A real market maker should not care whether both clients win or lose because he sells to you at a higher price and turns around and buys from somewhere for a lower price. That is what making the money from the spread means. In your kind of scenario, the SB firm is taking a chance that a lot of its clients would lose because, if they don't, he is gonna be out of business pretty quickly offering a 1 pip spread in a market where he himself gets worse than 1 pip. This is not a conspiracy theory, it is a fact.

I would imagine that the MM doesn't always have time enough to hedge all positions. Also a considerable number of clients lose because trading is not an easy game. You start with a minus whether it is 1 spread or 2 spread. Even if you start even, I think most traders lose.

 

[MarvinS]

MarvinS,

Laptop has repeatedly asked if he can return to instant execution with World Spreads and you continuously ignore the question.

If you speak for World Spreads, then answer the question and stop hiding behind Laptop's "end of thread" post. Perhaps, you might like to answer my question from the other World Spread's thread also? i.e. will WS accept an application from a resident of Ireland, in view of their pathetic site worldspreads.ie?

Eddie

Punter we have just done an upgrade to the www.worldspreads.ie site please view and give me comments!

 

[FXSCALPER2]

Exactly! Knowing that is what makes me comfortable trading with a SB company. They are a very good business.

I would imagine that the MM doesn't always have time enough to hedge all positions. Also a considerable number of clients lose because trading is not an easy game. You start with a minus whether it is 1 spread or 2 spread. Even if you start even, I think most traders lose.

 

[gle101]

Punter we have just done an upgrade to the www.worldspreads.ie site please view and give me comments!

Nice looking site!
The same spread as in UK, yes I guess punter will be pleased with this change. I notice that they offer a demo account. Is that something Worldspreads in UK also are considering taking on?