Worldspreads upgraded!

[jm99]

Well, yes I agree, it would be useful to have the right figure in percentage, money wise. I wouldn't be surprised if that figure still is around 85%, despite the fact that the winners are betting larger amounts. Anyone on the forum that has the right figure on this one?

it's not really relevant, as the "10%" of traders that make money wouldnt be using worldspeads anyway.......because they would see through it in the first place or after initially taking money off them would have their trading stopped/restricted.

the only way this business model (ie lower overall costs than in the actual market) can make a profit is by its customers losing, as fx scalper has clearly stated. it's a loss leader marketing gimmick designed to attract those who dont know better.

all this putting people on refer to dealer and 10 min min trade time are modern day bucket shop tactics.

 

[Legion]

After I sent a nice email I am now on instant execution again, however it is with the proviso that I hold my position for an average of 10 minutes or more. So that rules out scalping I guess. They are concerned about scalpers that take advantage of a possible 1 second difference enabling some scalpers to take advantge by trading inside the price (not guilty, I just use traditional TA).

so worldspreads do give instant execution , but ONLY 1 way, ie when you initiate to open a position... crikey, talk about having your hands tied behind your back..

Worldspreads this is terrible and worldspreads have upgraded ? huh.... get that experienced international trader who works at worldspreads to come here and tell us the benefits of using a company who now say you have to hold for 10 minutes ? lol this aint Marvins last parting gift is it?

happy days.....

 

[gle101]

it's not really relevant, as the "10%" of traders that make money wouldnt be using worldspeads anyway.......because they would see through it in the first place or after initially taking money off them would have their trading stopped/restricted.

I think the figure is about the same for DMA. Anyway, the interesting thing is what this figure of around 15% winning clients represents. How big a part of the total turnover on the instrument traded is this 15% moneywise.

 

[Phil Mibbutz]

WS introduced a £100 stake limit on their '1-spread' markets a while ago. Maybe if they cut it to a quid they could offer the advertised instant execution?

 

[AC007]

why trade with this kind of firms and pay the kind of spread they charge but if you are playing with demo and have time to kill then fine. what I find funny there are number of cfd and sb providers including barclays using CITY INDEX platfrom.

 

[stevespray]

I think the figure is about the same for DMA. Anyway, the interesting thing is what this figure of around 15% winning clients represents. How big a part of the total turnover on the instrument traded is this 15% moneywise.

Well, if we consider that the main underlying futures market is a zero sum game (save aside the commissions), then all the money lost by the 85% is made by the 15%. Thus the net losing trade exactly balances out the net winning trade. One imagines that similar statistics would be at work generally with spreadbetting although spreads tend to be slightly wider in most cases but not this particular case. The key, from a spreadbetting company's point of view, is to mildly disrupt the activity of the successful client. Delaying orders is, in effect, increasing a clients costs of dealing (or 'the spread' as they call it). As someone already mentioned, these are fairly well known 'bucket shop' tactics which you can read about in books which detail events back in the late 1800's on America's East Coast.

Steve.

 

[JTrader]

I have been happy so far with WS.

However, when the slightest thing makes me unhappy, I will complain to them right away. I see this as a clients duty in order to make the service provider aware of how they can improve.
Unfortunately not all service providers are receptive of constructive criticism (eg. CMC), but WS (MarvinS at least) seems to have been receptive to constructive criticism, wanting WS to improve and grow.

The happier existing customers are, the more new customers will sign-up - Simple!

All companies and all people should continuously look to improve.

http://www.graphicproducts.com/tutorials/kaizen/index.php

What is Kaizen?

Kaizen was created in Japan following World War II. The word Kaizen means "continuous improvement". It comes from the Japanese words "Kai" meaning school and "Zen" meaning wisdom.

Kaizen is a system that involves every employee - from upper management to the cleaning crew. Everyone is encouraged to come up with small improvement suggestions on a regular basis. This is not a once a year, or monthly activity. It is continuous. At Japanese companies, such as Toyota and Canon, 60 to 70 suggestions per employee, per year are written down, shared and implemented.

In most cases these are not ideas for major changes. Kaizen is based on making little changes on a regular basis--always improving productivity, safety and effectiveness, and reducing waste.

Suggestions are not limited to a specific area such as production or marketing. Kaizen is based on making changes anywhere that improvements can be made. The Kaizen philosophy is to "do it better, make it better, improve it even if it ain't broke, because if we don't, we can't compete with those who do."

Western philosophy can be summarized as, "if it ain't broke, don't fix it." The Kaizen philosophy is that everything, even it it ain't broke, can be improved.

Kaizen is a system of improvement that in Japan includes both home life as well as business improvements. Kaizen even includes social activities. It is a concept that is applied in every aspect of a person's life.

In business Kaizen encompasses many of the components of Japanese businesses that have been seen as a part of their success. Quality circles, automation, suggestion systems, just-in-time delivery, Kamban and 5S are all included within the Kaizen system of running a business.

Kaizen involves setting standards and then continually improving those standards. To support the higher standards Kaizen also involves providing the training, materials and supervision that is needed for employees to achieve the higher standards and maintain their ability to meet those standards on an on-going basis.

 

[gle101]

I have been happy so far with WS.

However, when the slightest thing makes me unhappy, I will complain to them right away. I see this as a clients duty in order to make the service provider aware of how they can improve.
Unfortunately not all service providers are receptive of constructive criticism (eg. CMC), but WS (MarvinS at least) seems to have been receptive to constructive criticism, wanting WS to improve and grow.

The happier existing customers are, the more new customers will sign-up - Simple!

All companies and all people should continuously look to improve.

Yes exactly, this is my point of view as well. An open and constructive discussion should be an asset for any company in order to improve their service and attain goodwill. I would say this is especially important for an upcoming spread betting company like Worldspreads, with an aim to gain a market share of a very competitive and overcrowded industry.

 

[Legion]

Yes exactly, this is my point of view as well. An open and constructive discussion should be an asset for any company in order to improve their service and attain goodwill. I would say this is especially important for an upcoming spread betting company like Worldspreads, with an aim to gain a market share of a very competitive and overcrowded industry.

Agreed, whats your view on worldspreads telling traders that they HAVE to hold a position for at least 10 minutes or so ? if they have identified a client being very trader like , baring in mind of course being trader like is important, i.e looking to exploit,leverage & value for high probability trades ?

 

[Legion]

come on gle101 you started to type a reply..... whats wrong? is this in their terms and conditions at worldspreads now ? is this a part of their new terms and conditions from this point on ? is it not important that clients new ,old & prospective should have great visibilty on this so that people can see that its very DANGEROUS to be putting their money at RISK with a company who spins out these new rules ,such as you HAVE to hold for 10 minutes or so ?

LOL. muppets.

great company gle101 isnt it? tell us all what other leading companies have this rule in force ? the rule that says you may HAVE to HOLD your trade for 10 minutes?

Thats an issue , what do you think about a company who says this gle 101?

 

[gle101]

come on gle101 you started to type a reply..... whats wrong? is this in their terms and conditions at worldspreads now ? is this a part of their new terms and conditions from this point on ? is it not important that clients new ,old & prospective should have great visibilty on this so that people can see that its very DANGEROUS to be putting their money at RISK with a company who spins out these new rules ,such as you HAVE to hold for 10 minutes or so ?

LOL. muppets.

great company gle101 isnt it? tell us all what other leading companies have this rule in force ? the rule that says you may HAVE to HOLD your trade for 10 minutes?

Thats an issue , what do you think about a company who says this gle 101?

Hold your horses Legion, it is Saturday evening and I have to spend some time with the family as well. I will reply shortly.

 

[Legion]

hold my horses ? just like a client has to hold for 10 minutes or so ? lol, you'd fit in well at worldspreads mate...... trading & families? pull the other one its likely playing ding dong merrily on high'

if any company even suggests ANY 1 client should HAVE to hold for 10 minutes or so, then thats Very Big sirens......

give it your best....

 

[gle101]

Agreed, whats your view on worldspreads telling traders that they HAVE to hold a position for at least 10 minutes or so ? if they have identified a client being very trader like , baring in mind of course being trader like is important, i.e looking to exploit,leverage & value for high probability trades ?

Hi Legion,

In general I am against all kinds of restrictions. What I can accept is a restriction on a maximum bet, for instance the way WS has limited to £100 per bet. A general restriction which says that you hold a position for at least 10 minutes is something that I cannot support. It creates a lot of stress on the trader in order to hold on to instant execution. This game is hard enough as it is, and as you are saying, an important part of the game is just that, playing on different movements in the market, e.g. volatility and breakthroughs. These movements in the market can appear anytime, and not being able to act upon them instantly, creates a lot of frustration for the trader.

 

[NotQuiteRandom]

Do their binaries work? I keep clicking on the link from the home page and getting nothing...?

Are they offering fixed odds yet?

 

[Legion]

YeeeeS, youve been living in a dream world.

Hi Legion,

In general I am against all kinds of restrictions. What I can accept is a restriction on a maximum bet, for instance the way WS has limited to £100 per bet. A general restriction which says that you hold a position for at least 10 minutes is something that I cannot support. It creates a lot of stress on the trader in order to hold on to instant execution. This game is hard enough as it is, and as you are saying, an important part of the game is just that, playing on different movements in the market, e.g. volatility and breakthroughs. These movements in the market can appear anytime, and not being able to act upon them instantly, creates a lot of frustration for the trader.

Cheers Gle, The 10 minute must hold has got to be an absolute blunder on worldspreads part, what message does it potentially send out to any customer? terrible ,just terrible I think they would be better off offering 3 pip spread and no delay and remove the must hold 10 minute suicide tactic. Tight spread are one thing yet service to the cleint has got to be equal in sharpness.

I mean they could offer zero pip spread (and maybe they should do if the client has to hold for 10 minutes ) or even give the client a pip or 2 head start i.e the trader has + pips when iniating trade to balane the risk some how many pips they should give the trader who HAS to hold for 10 minutes ?

whats that risk, can we quantify it in pips ? maybe they should give the client 100 % of 10 minutes ATR 1 headstart for being shackled with that risk.

so it might be anywhere between 5-15 pips typically that seems fair .

What about it worldspreads , you make me HAVE to HOLD for 10 minutes therefore I'm assuming Great risk = therefore you need to pay me for assuming that risk ?

yes its all very silly.

And whats this with the 10 minutes or so time period, whats the OR SO bit please ?

I bet that Marvins p!ssed enroute to asia on this one, He's been pipped on new ways of doing biz (ripping off clients) by his successor it seems.

Crikey Bring back Marvin..... old Marv surely would see the madness of the 10 minute spreadbet sleeper hold ?

 

[MarvinS]

Cheers Gle, The 10 minute must hold has got to be an absolute blunder on worldspreads part, what message does it potentially send out to any customer? terrible ,just terrible I think they would be better off offering 3 pip spread and no delay and remove the must hold 10 minute suicide tactic. Tight spread are one thing yet service to the cleint has got to be equal in sharpness.

I mean they could offer zero pip spread (and maybe they should do if the client has to hold for 10 minutes ) or even give the client a pip or 2 head start i.e the trader has + pips when iniating trade to balane the risk some how many pips they should give the trader who HAS to hold for 10 minutes ?

whats that risk, can we quantify it in pips ? maybe they should give the client 100 % of 10 minutes ATR 1 headstart for being shackled with that risk.

so it might be anywhere between 5-15 pips typically that seems fair .

What about it worldspreads , you make me HAVE to HOLD for 10 minutes therefore I'm assuming Great risk = therefore you need to pay me for assuming that risk ?

yes its all very silly.

And whats this with the 10 minutes or so time period, whats the OR SO bit please ?

I bet that Marvins p!ssed enroute to asia on this one, He's been pipped on new ways of doing biz (ripping off clients) by his successor it seems.

Crikey Bring back Marvin..... old Marv surely would see the madness of the 10 minute spreadbet sleeper hold ?

I am back - been away for 10 days and 10 minutes! What are you talking about a 10 minute refer? I haven't heard of this...

 

[MarvinS]

Do their binaries work? I keep clicking on the link from the home page and getting nothing...?

Are they offering fixed odds yet?

WS 100 binary service is no more - IT dept. are working on taking this off the homepage!

 

[Legion]

I am back - been away for 10 days and 10 minutes! What are you talking about a 10 minute refer? I haven't heard of this...

Back on instant execution, however...
--------------------------------------------------------------------------------

After I sent a nice email I am now on instant execution again, however it is with the proviso that I hold my position for an average of 10 minutes or more. So that rules out scalping I guess. They are concerned about scalpers that take advantage of a possible 1 second difference enabling some scalpers to take advantge by trading inside the price (not guilty, I just use traditional TA).



Go kick some Ass Marvin..

Have a good chrimbo too.

 

[Legion]

I know its Panto season and perhaps the boys were having a private office do in your absence or something ,which maybe went a little something like this......

" Its behind you ! "

"What Is? "

"That Clients Wallet, It's Open for the next 10 Minutes"

"Nice One".

 

[MarvinS]

News to me!