Joe Bloggs blows fortune spread betting

This is a discussion on Joe Bloggs blows fortune spread betting within the General Trading Chat forums, part of the T2W Archive category; Apparently, when he takes a position, prior to London open, he will often move the market On forex that is ...

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Old Dec 28, 2009, 7:07pm   #15
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Re: Joe Bloggs blows fortune spread betting

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Apparently, when he takes a position, prior to London open, he will often move the market
On forex that is some ability, I presume that if he does this then they have to offset his position in the true market ?


Paul
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Old Dec 29, 2009, 4:01am   #16
 
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Re: Joe Bloggs blows fortune spread betting

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On forex that is some ability, I presume that if he does this then they have to offset his position in the true market ?


Paul
Yes, they do. I don't think any SB co. would take that large a trade without hedging it.
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Old Dec 29, 2009, 9:15am   #17
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Re: Joe Bloggs blows fortune spread betting

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Yes, they do. I don't think any SB co. would take that large a trade without hedging it.
So much for the delusion of many that SB providers hedge everything down to 1 per point.
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Old Dec 29, 2009, 11:39am   #18
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Re: Joe Bloggs blows fortune spread betting

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I do find it interesting that there are certain types of people who think that because they have become hugely successful in one venture that the same principles apply to trading. In my view success in trading often requires paradoxical thinking to success in business. It is even more so when those who have become successful in business have achieved this through their own ego.


Paul
good points well made Paul...
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Old Dec 29, 2009, 11:48am   #19
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Re: Joe Bloggs blows fortune spread betting

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Mike Ashley is a big player on SB markets. I was told by an employee, of one of the major SB firms, that they allow him to bet up to 10k per pt. He may have lost on HBOS but, he has, also, makes a lot of money on forex trading. Apparently, when he takes a position, prior to London open, he will often move the market. Perhaps, his fortune will be restored in parallel with Newcastle Utd's current form in the championship
IMO he is simply (at best) a 50:50 win ratio gambler who exercises no MM or discipline, the rise in the equities market over the past twelve months has saved his thick fat bloated skin...I heard a few city contacts, not overly amored by his management of SD, had him over a barrel and wet themselves laughing over the stupidity of his 'punts'.

iirc forex is not directly *his* thing...and no he doesn't/can't move the market in his favour, I reckon a few do follow his moves and help themselves to some nice pickings from the dead 'coma trail' he temporarily creates though..
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Old Dec 29, 2009, 11:11pm   #20
 
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Re: Joe Bloggs blows fortune spread betting

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iirc forex is not directly *his* thing...and no he doesn't/can't move the market in his favour, I reckon a few do follow his moves and help themselves to some nice pickings from the dead 'coma trail' he temporarily creates though..
I'm assured that he certainly does move the market. I didn't say in his favour, just that he moves it. A large order to buy Cable, at around 07.00, will most certainly move the market. Let's say we're talking 1,000 lots, they won't all get filled at the same price, hence the market will move.

I can tell that you're a fully paid up member of his fan club and eagerly awaiting his future successes
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Old Dec 29, 2009, 11:33pm   #21
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Re: Joe Bloggs blows fortune spread betting

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I'm assured that he certainly does move the market. I didn't say in his favour, just that he moves it. A large order to buy Cable, at around 07.00, will most certainly move the market. Let's say we're talking 1,000 lots, they won't all get filled at the same price, hence the market will move.

I can tell that you're a fully paid up member of his fan club and eagerly awaiting his future successes
Have to agree to disagree on his ability to move the cable market...TBH I struggle with his 'businessmanship'. Can't argue he made ridiculous wealth for himself, similar to Philip Green I guess, brilliant 'players'. Just think his shops are utter 5hite and he was kinda in the right financial space at the right time. You'll know that there's always periods when the City is gagging for good size IPOs, he fitted the bill as did the likes of Moneysupermarket more recently...
He 'kin kills brands Vlad the Impailer style though; YSL was OK and Champion before he dragged 'em down market...
Have to say the man has a keen sense of humour, re-branding St James Park as 'Sports-Direct.com' was a masterstroke....
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