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This is a discussion on BinaryBet.com within the Fixed Odds & Binary Betting forums, part of the Markets category; Originally Posted by Bintrader Hi I don't think it would be difficult to prove that accounts are set to manual ...

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Old Sep 5, 2006, 2:47pm   #31
 
BinarySoft Chris's Avatar
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Quote:
Originally Posted by Bintrader
Hi I don't think it would be difficult to prove that accounts are set to manual or slow trading. Would this be against the rules if binaries came under FSA? I don't know.
It could possibly be against the rules, the thing is that binaries are unlikely to be FSA regulated in the near future (and may never be).
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Old Sep 5, 2006, 3:09pm   #32
Joined Jun 2004
If binaries did come under the remit of the FSA, maybe it would. However, the terms and conditions of most spreadbetting companies give them almost unlimited scope to behave as they choose, which is presumably why so many traders find it difficult to take them seriously
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Old Sep 5, 2006, 10:32pm   #33
Joined Nov 2004
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Originally Posted by bizmanny
Hi, Great post.But why do they do this(manipulate entry/exit strategy)while they will make money anyhow from spread. I would appreciate your insight.
Because they can make more money by doing so as they appear to have the ability to view their realtime exposure even down to individual accounts so changing the balance will manipulate anyone with a large open position to reconsider drastically!! Shaking the tree is I believe one of the terms for this tactic.

Believe me it works for them as I was a victim of this last year when I had a £185 per point trade which stood to generate £2.5K when they tampered with the underlying so that it suddenly dropped from 94 to 70ish so I was suddenly looking @ a £2.5K loss then they mysteriously moved it back to 88 so I decided to close the position and literally as soon as I had the underlying shot back up to 98! All the while the FTSE100 & FTSE Futures were only moving a few points and no global news which could affect the markets was evident.

That stuck in my mind so I noted it down but there have been other trades with smaller amounts where I felt strongly I was being manipulated so took less profit.

I have spoken to several of their traders & they freely admitted to me that they do market make as & when they feel the need to generate a certain level of business per market.

Another underhand tactic is when you have a lot of capital in your account with them (usually 5 figures +) & you also make consistent profits their traders have to manually close winning trades over a certain level and they seem reluctant to do so the same day unless you hassle them via the phone. This I have learnt is because they re-check their buy & sell quotes to you for pricing errors before approving the winning funds even though you already have a valid accepted quote. Yet another way of reducing your profits when you require the trading funds in your account to trade another market (which for me used to be typically the Dow after the FTSE binaries closed).
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Old Sep 9, 2006, 6:18am   #34
 
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Joined Aug 2006
To Greed is good.
Thank you for sharing your observation.
Most of what you say i found to be true. Most of what you say have happened to me as well last year. But at time i didn't understand what's was going on.

I always thought there are 1000's of traders trade at any time so they wouldn't concretrate or mind any one single individual. Because he is just one fish in ocean. Also they do get their spread for every trade. How naive?

It is more so on FTSE than DOW. I think it is easier to manipulate FTSE. Is this your experience as well.




Quote:
Originally Posted by Greed Is Good
Because they can make more money by doing so as they appear to have the ability to view their realtime exposure even down to individual accounts so changing the balance will manipulate anyone with a large open position to reconsider drastically!! Shaking the tree is I believe one of the terms for this tactic.

Believe me it works for them as I was a victim of this last year when I had a £185 per point trade which stood to generate £2.5K when they tampered with the underlying so that it suddenly dropped from 94 to 70ish so I was suddenly looking @ a £2.5K loss then they mysteriously moved it back to 88 so I decided to close the position and literally as soon as I had the underlying shot back up to 98! All the while the FTSE100 & FTSE Futures were only moving a few points and no global news which could affect the markets was evident.

That stuck in my mind so I noted it down but there have been other trades with smaller amounts where I felt strongly I was being manipulated so took less profit.

I have spoken to several of their traders & they freely admitted to me that they do market make as & when they feel the need to generate a certain level of business per market.

Another underhand tactic is when you have a lot of capital in your account with them (usually 5 figures +) & you also make consistent profits their traders have to manually close winning trades over a certain level and they seem reluctant to do so the same day unless you hassle them via the phone. This I have learnt is because they re-check their buy & sell quotes to you for pricing errors before approving the winning funds even though you already have a valid accepted quote. Yet another way of reducing your profits when you require the trading funds in your account to trade another market (which for me used to be typically the Dow after the FTSE binaries closed).
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Old Sep 9, 2006, 11:37am   #35
 
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Joined May 2005
Quote:
Originally Posted by Greed Is Good
Because they can make more money by doing so as they appear to have the ability to view their realtime exposure even down to individual accounts so changing the balance will manipulate anyone with a large open position to reconsider drastically!! Shaking the tree is I believe one of the terms for this tactic.

Believe me it works for them as I was a victim of this last year when I had a £185 per point trade which stood to generate £2.5K when they tampered with the underlying so that it suddenly dropped from 94 to 70ish so I was suddenly looking @ a £2.5K loss then they mysteriously moved it back to 88 so I decided to close the position and literally as soon as I had the underlying shot back up to 98! All the while the FTSE100 & FTSE Futures were only moving a few points and no global news which could affect the markets was evident.

That stuck in my mind so I noted it down but there have been other trades with smaller amounts where I felt strongly I was being manipulated so took less profit.

I have spoken to several of their traders & they freely admitted to me that they do market make as & when they feel the need to generate a certain level of business per market.

Another underhand tactic is when you have a lot of capital in your account with them (usually 5 figures +) & you also make consistent profits their traders have to manually close winning trades over a certain level and they seem reluctant to do so the same day unless you hassle them via the phone. This I have learnt is because they re-check their buy & sell quotes to you for pricing errors before approving the winning funds even though you already have a valid accepted quote. Yet another way of reducing your profits when you require the trading funds in your account to trade another market (which for me used to be typically the Dow after the FTSE binaries closed).
if you are positive they are trying to tree-shake you then fill your boots and stay patient!
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Old Sep 9, 2006, 8:30pm   #36
Joined Nov 2004
Quote:
Originally Posted by bizmanny
To Greed is good.
Thank you for sharing your observation.
Most of what you say i found to be true. Most of what you say have happened to me as well last year. But at time i didn't understand what's was going on.

I always thought there are 1000's of traders trade at any time so they wouldn't concretrate or mind any one single individual. Because he is just one fish in ocean. Also they do get their spread for every trade. How naive?

It is more so on FTSE than DOW. I think it is easier to manipulate FTSE. Is this your experience as well.
More so on the FTSE.
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Old Sep 9, 2006, 8:36pm   #37
Joined Nov 2004
Quote:
Originally Posted by jules101
if you are positive they are trying to tree-shake you then fill your boots and stay patient!
Easier said than done when you have up to £18K @ risk!! However I no longer risk anywhere near that level and am unlikely to ever do so again.
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Old Sep 9, 2006, 10:14pm   #38
 
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Quote:
Originally Posted by Greed Is Good
Easier said than done when you have up to £18K @ risk!! However I no longer risk anywhere near that level and am unlikely to ever do so again.
I can understand exactly where you are coming from hence when I am trading binaries 80% of the time I never look at live prices only the 1- 5 min interval charts also have 10 mins T.A when I am trading bins...

As Far as £'s a point I only trade heavy twice a month ie £100-150 other wise 20-30 on trading days

Best of luck happy trading..
Rav
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Old Sep 10, 2006, 1:32am   #39
 
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Quote:
Originally Posted by Greed Is Good
Easier said than done when you have up to £18K @ risk!! However I no longer risk anywhere near that level and am unlikely to ever do so again.
Well said, The key is to risk small amount. That way one might be able to ride out the volatility (tree shaking).
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Old Sep 13, 2006, 1:18pm   #40
Joined Aug 2006
Quote:
Originally Posted by Greed Is Good
Believe me it works for them as I was a victim of this last year when I had a £185 per point trade which stood to generate £2.5K when they tampered with the underlying so that it suddenly dropped from 94 to 70ish so I was suddenly looking @ a £2.5K loss then they mysteriously moved it back to 88 so I decided to close the position and literally as soon as I had the underlying shot back up to 98! All the while the FTSE100 & FTSE Futures were only moving a few points and no global news which could affect the markets was evident.
So if I understand you well, you mean that they give different clients different quotes? Because you have a potentially big profit (high expected value) they give you worse quotes to trade on than to other traders who doesn't need to trade out?

Are you sure about this?
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