You are NOT trading.

[mp6140]

Mp -- Fxscalper Is Right, Everyone Else Is Wrong

in reality, WHAT THE HELL DOES IT MATTER ???

cheaper and NO TAXES on spread betting ??

ANYONE GOT A ROOM I CAN WORK OUT OF IN ENGLAND ??

i do pretty danged well, but a free 28 - 40% EXTRA PROFIT per year ---- THATS FANTASTIC !!

call it anything you want, but SHOW ME THE MONEY HONEY !!!!

mp

 

[Lee Shepherd]

Well, what does that even mean? All we do is take a view on a pair and go long or short, no?

You dont know what this means, cant put it any simpler bud.

Originally Posted by Lee Shepherd
But this is it exactly, with IG index you DO NOT buy EUR/$, you simply BET against the price, in many cases they dont even buy it. just simply bet against you with others thats on there books. The bookies always win.

If you trade the markets then you DO BUY the contract EUR/$, spread bet you simply bet against the price, hence GAMBLING.

 

[rwb]

You're right about it being a killer, might explain why SB is so popular this side of the pond. I fear it might get worse because after some very good years when labour first took the reigns here Gordo emptied the piggy bank (achieving very little in the process) and now is having to mortgage the country to the hilt. You may remeber he sold all our gold reserves at the bottom of the market in the nineties. Would you say he is a 'professional', he thinks he is!

====================================================

our local sheep herder, also referred to as "president" had lowered the tax rate on cap gains to encourage everyone to trade UP the price of oil (he is a texan, after all) and so we enjoy a lower tax rate right now, but you guys usually have pretty steep tax rates, which is why i would LOVE to just spread bet in england (they wont let us, but russia did allow me to do so)

40% is a REAL killer !

mp

 

[mp6140]

MP -- HERE is where i used to step in and bash heads !

You dont know what this means, cant put it any simpler bud.

HIE THEE TO A NUNNERY mr shepherd --- your playing semantics and not reality, and where youre correct on "SEMANTICS" the actuality of what you espouse has no bearing on reality !@

doesnt matter if its REAL trading or FAKE trading as long as the money spends the same !

mp

 

[keano]

all that matters is that you get it right. Then you make money either way.

 

[Lee Shepherd]

Woooaaaa...Now this I dont understand...lol

HIE THEE TO A NUNNERY mr shepherd --- your playing semantics and not reality, and where youre correct on "SEMANTICS" the actuality of what you espouse has no bearing on reality !@

mp

 

[rwb]

Strange, the rest of us did, no problem!!

Woooaaaa...Now this I dont understand...lol

 

[charliechan]

SB prices? They are only indicative, .

QED!

 

[Lee Shepherd]

Then why doesn't the GAMBLER enlighten me....

Strange, the rest of us did, no problem!!

 

[rwb]

Would it make any difference? Doubt it!

Then why doesn't the GAMBLER enlighten me....

 

[mp6140]

Then why doesn't the GAMBLER enlighten me....

mr shepherd, I earn a very large amount for my clients thru the use of a "broker" here in the states.

a broker is much the same as your "spread betters" except WE pay taxes (capital gains)

what i said to you is you are very correct in the use of the word "gambler", but that IN REALITY, it just doesnt matter !

MONEY IS MONEY, and if a "bookie" or "broker" gives it to me, I simply dont care what they call him !

ITS ALL ABOUT THE MONEY !

 

[Lee Shepherd]

Hey thats cool, I totally agree. I too dont care what my title is as long as I get paid (or win money).

Was just winding up rwb as it seemed to hit his nerve.

It amazes me how many people take offence when they're called gamblers, just like rwb, they try and defend it and worm their way out of it. The bottom line is (defined by law) is that spreadbetting (in the U.K that I know of) is defined as GAMBLING. Anyone applying for or has a mortgage in this country or tries to get a loan has to declare by LAW that they GAMBLE for a living otherwise they have obtained money by deception and banks dont lend to gamblers.

It's only ever NEWBIES that dont get this and try telling everyone including themselves that they 'really' buy the contracts when in effect they are only betting against a price made by the bookies which somewhat underlines the market.

It's all about the money...

Cant comment on the U.S.A

mr shepherd, I earn a very large amount for my clients thru the use of a "broker" here in the states.

a broker is much the same as your "spread betters" except WE pay taxes (capital gains)

what i said to you is you are very correct in the use of the word "gambler", but that IN REALITY, it just doesnt matter !

MONEY IS MONEY, and if a "bookie" or "broker" gives it to me, I simply dont care what they call him !

ITS ALL ABOUT THE MONEY !

 

[mp6140]

Hey thats cool, I totally agree. I too dont care what my title is as long as I get paid (or win money).

Was just winding up rwb as it seemed to hit his nerve.

yeah, and did a good job at it also ! (LOL)

It amazes me how many people take offence when they're called gamblers, just like rwb, they try and defend it and worm their way out of it. The bottom line is (defined by law) is that spreadbetting (in the U.K that I know of) is defined as GAMBLING. Anyone applying for or has a mortgage in this country or tries to get a loan has to declare by LAW that they GAMBLE for a living otherwise they have obtained money by deception and banks dont lend to gamblers.

"gambling" of course carries a negative connotation, but i can get tremendous amounts of money because i am a "NYS REGISTERED financial holding company" (treanslation -- GAMBLER !!) Its just how you write it up on the balance sheet !

It's only ever NEWBIES that dont get this and try telling everyone including themselves that they 'really' buy the contracts when in effect they are only betting against a price made by the bookies which somewhat underlines the market.

semantics, semantics, semantics ------- some of the most wonderful women i have ever met in my life have been "rentals" ----- presently i have TWO that im divorced from -- they were "outright buys" !

for me, NOT OWNING but renting was the way to go, and is the same with the market !

It's all about the money...

AGREED !!

Cant comment on the U.S.A

different taxation, slightly different processes but more same than different -- after all youse peeps were the "mother country" even though a bunch of colonial lawyers decided they wanted the country for themselves !

live is fun

mp

 

[MrGecko]

this whole discussion has deteriorated into a joke.

to all those who state "using an SB means you aren't a trader" or "Traders are cool, gamblers are chumps" (artistic citation), and fail to acknowledge the parallels, I say "pull your head out of your ar$e"; Others will make a strong case that if you have to go into such pedantic arguments to prove to yourself that you are a trader, then you're probably not.

Furthermore, I too am an exeptional fisherman.

 

[Lee Shepherd]

Your right, it is a joke.

In England there is no grey area, the law states that if you spreadbet, you gamble, thats why it has tax breaks or more to the point no tax to pay whatsoever.

People should understand (those in the U.K) that spreadbetting IS gambling. There is no class involved with who's the better, spreaders or traders but it is defined clear in U.K law that spreadbetting IS gambling and Trading is not and is taxable...Take your pick.

Just as MP6140 has stated to which I fully agree, Who cares what your called as long as you make money.

this whole discussion has deteriorated into a joke.

to all those who state "using an SB means you aren't a trader" or "Traders are cool, gamblers are chumps" (artistic citation), and fail to acknowledge the parallels, I say "pull your head out of your ar$e"; Others will make a strong case that if you have to go into such pedantic arguments to prove to yourself that you are a trader, then you're probably not.

Furthermore, I too am an exeptional fisherman.

 

[fifty2aces]

Isn't a spreadbet just like a poor man's OTC derivative? Don't want to offend anyone's superiority complex...

 

[mp6140]

Isn't a spreadbet just like a poor man's OTC derivative? Don't want to offend anyone's superiority complex...

=============================================================

actually sounds like it IS an OTC derivative !!"

is in the US anyway

mp

 

[FXSCALPER2]

You dont know what this means, cant put it any simpler bud.

Silly bugger.

 

[mp6140]

MP -- time for this one to go to bed !

Silly bugger.

should be time fxscalper --- weve certainly killed this one !

mp

 

[Splitlink]

mr shepherd, I earn a very large amount for my clients thru the use of a "broker" here in the states.

a broker is much the same as your "spread betters" except WE pay taxes (capital gains)

what i said to you is you are very correct in the use of the word "gambler", but that IN REALITY, it just doesnt matter !

MONEY IS MONEY, and if a "bookie" or "broker" gives it to me, I simply dont care what they call him !

ITS ALL ABOUT THE MONEY !

Hi mp,

If your client wants---I know that almost all are very short term---but, could he take possesion of those shares on the expiry date?

That is, I think, the basic difference between broking and spreadbetting. With the latter the client cannot take possession of those shares.

A broker lodges your trade at the exchange. A spreadbet company does not. If he does, it's his choice, for hedging purposes. That is why the government terms them gamblers and there is no tax. Officially. However if you make enough money out of it, rest assured, the old taxman will be after you for income tax.

Split