Bet Both Ways??

This is a discussion on Bet Both Ways?? within the First Steps forums, part of the Reception category; I RECENTLY HAD A LETTER THROUGH THE POST CLAIMING TO HAVE INFO ON A SYSTEM ,MAKE CASH WHICH EVER WAY ...

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Old Nov 29, 2007, 12:31pm   #1
 
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Arrow Bet Both Ways??

I RECENTLY HAD A LETTER THROUGH THE POST CLAIMING TO HAVE INFO ON A SYSTEM ,MAKE CASH WHICH EVER WAY IT GOE`S, ANYONE GOT ANY VEIWS ???
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Old Nov 29, 2007, 12:53pm   #2
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Hi Strawb,

Could be some sort of arbitrage system.....

Out of curiousity, who was the letter from? The company might already be well known to T2W members and then you might be able to get some insight into whether they are good or bad.

I have to say, though, that if it's an unsolicited mailshot then it's probably one for the bin.....


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Damian
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Old Nov 29, 2007, 1:11pm   #3
 
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strawb started this thread Fanx For Reply,
I Bought A System Last Year Called Pentatrade,i Am Glad I Did,i Paid Over £2k For It!and Its Got Me Into Trading Which I Never New Exsisted Before,its A Step By Spep Idiots Guide. The Last Little Idea Via Streetwise Marketing,is A System Which Sounds The Same But Claims To Bet Both Ways?? Called "illuminati"
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Old Nov 29, 2007, 1:30pm   #4
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I seem to remember that this approach is based on swings in price in both directions and taking a trade at a point on each of the swing limits. I am sure it is great when markets are volatile or are trading within a range which (as a rule of thumb) is around 70% of the time. However, if the market starts trending you will lose money.


Paul
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Old Nov 29, 2007, 1:40pm   #5
 
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Hi Paul.

strawb started this thread Iwas Thinking That You Would Bet With Two Spread Co`s With A Tight Stop Each Way? On Announcement When The Dow Moves You Would Be Covered Either Way?
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Old Nov 29, 2007, 3:23pm   #6
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Can you give an example at I cannot see how you make your actual profit if that is the case ?


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Old Nov 29, 2007, 3:32pm   #7
 
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Quote:
Originally Posted by strawb View Post
Iwas Thinking That You Would Bet With Two Spread Co`s With A Tight Stop Each Way? On Announcement When The Dow Moves You Would Be Covered Either Way?
I'm afraid this is flawed thinking. You are not the first person to consider this and you won't be the last.

All that will happen is that if there is a sharp reaction, one stop will suffer serious slippage, the time the other order is entered on the right side of the market, most pros will probably have faded the news and it will turn into a loss before you can close out.

One of the many mistakes a new trader makes is trying to trade the news.
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Old Nov 29, 2007, 3:58pm   #8
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Err, agreed, Dante.

Or am I missing sthg...

Being simultaneously long and short the same instrument...

in this Universe at least...

is the same...

as being flat...

minus the cost of doing business...

ie, altruistic renumeration from you, for your friendly broker always happy to oblige whatsoever whims may need satisfying, and at whatever time, come to that.

Click the image to open in full size.

The perpetuum mobile may have it's home base somewhere, unfortunately just not here.
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Old Nov 29, 2007, 4:00pm   #9
 
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strawb started this thread on the principle that the dow will react sharply on an announcment.,up or down.probably 90 points.with a stop of 15/20 points either way you gain more than lose???
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Old Nov 29, 2007, 4:57pm   #10
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Well I suggest you try it then come back and let us know how you did because in my view you will lose money trying to do this.


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