Spreadbetting Companies Want YOU to Lose? Any Thoughts - You Tube Video Link

This is a discussion on Spreadbetting Companies Want YOU to Lose? Any Thoughts - You Tube Video Link within the Spread Betting & CFDs forums, part of the Commercial category; [QUOTE=charlesD;2345226] Originally Posted by highbury fx Ok, so I don't know, but I'm just going by what I watched and ...

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Old Jun 11, 2014, 3:31pm   #9
Joined Mar 2014
[QUOTE=charlesD;2345226]
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Originally Posted by highbury fx View Post

Ok, so I don't know, but I'm just going by what I watched and heard. So he said he started flipping IPOs at 16, got a job at Goldman, and was one of the top dogs.

So he might be lying, he might be a charlatan? I don't know.

So you've met him huh? So is he genuine? I don't know much about him, but after watching the video series he just appeared to me to be a trader natural - one of the 2%. Not that I would join his trading acamedy or anything, I haven't got 20,000 spare anyway.

Anyway, for comparisons sake, he's about the same age as me, and he's achieved a hell of a lot more than me. When he said he got into it watching TV documentaries in the mid 90's, I certainly remember what I was doing in the mid 90's and that I wasn't. So for experience, yes, he's been in the industry for a long time, so he I thought he was knowledgeable.

I've been in the Stock Market since about 2005, and I know I'm net down, made quite a few mistakes, lost a reasonable amount of money. I only got into Spreadbetting 2 years ago, and have yet to be in profit. The way I see it though, my mistakes and losses are a learning process, so I think I've got better through the losses and mistakes I've experienced.

I'm starting to be more careful now. Yeah there's plenty of people better than me, there's a few people start trading and just get richer and richer without hardly a down year. If Anton is one of those trader natural people, or anyone else here, even you Highbury, I will devote some my time listening to try and learn something.
He's a top bloke and good fun. Whether or not he was one of Goldmans top traders I doubt it. One of the things you should have worked out by now though if you've been trading since 2005 is unfortunately its safer to err on the side of caution and take what people tell you with a pinch of salt.

I don't know what a natural trader is. When I started in 1987 a natural trader was someone who could shout loud, think quick, not be intimidated and drink until the client collapsed, went home or got arrested. I don't think Anton would fulfil this criteria of a natural trader
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Old Jun 11, 2014, 4:07pm   #10
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charlesD started this thread [QUOTE=highbury fx;2345334]
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Originally Posted by charlesD View Post

He's a top bloke and good fun. Whether or not he was one of Goldmans top traders I doubt it. One of the things you should have worked out by now though if you've been trading since 2005 is unfortunately its safer to err on the side of caution and take what people tell you with a pinch of salt.

I don't know what a natural trader is. When I started in 1987 a natural trader was someone who could shout loud, think quick, not be intimidated and drink until the client collapsed, went home or got arrested. I don't think Anton would fulfil this criteria of a natural trader
What I meant by a natural trader is someone who is good at trading from the moment they start as opposed to just lucky. So good that they know when to take a profit and just have the ability to grow their accounts 10x, 50x, 100x,... fold.
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Old Jun 11, 2014, 4:41pm   #11
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[QUOTE=charlesD;2345388]
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Originally Posted by highbury fx View Post

What I meant by a natural trader is someone who is good at trading from the moment they start as opposed to just lucky. So good that they know when to take a profit and just have the ability to grow their accounts 10x, 50x, 100x,... fold.
Yeah, that's not him either...

You shouldn't think there are superstar traders who know all the answers. The traders at Goldmans are good because of Goldmans not the other way around. When you have client orders sitting on your desk that are responsible for driving the market in a particular direction you don't need to be good to make money you just need to jump on the bandwagon..

Invariably when star traders leave banks to work for themselves and realise that without the financial muscle and information available to them from the bank its actually quite hard and they struggle like everyone else. Sure they know a bid from an offer and how to draw some lines on a chart but without the luxury of knowing whats around the corner they're as bad as any one else.

you're welcome to your opinion and I don't want to slate a mate but listen to your gut instinct and trust it..
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Old Jun 11, 2014, 5:05pm   #12
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Originally Posted by charlesD View Post
Hello All!

I want someone to give me some further explanation. Please reply back with your thoughts.

Reading through some of the threads on this here forum I've come across the topic of whether it's in the interest of the Spreadbetting firm wanting their clients to lose money. Some people have said that the Spreadbetting firm makes money through the spread alone and commissions (I.E DFT) so that they don't care whether you win or lose............................
to give yourself the maximum chance of success make sure you trade the market directly (DMA) do not trade against a dealer aka 99% of spreadbetters. question everything you are told/read. be warned the trading/investment industry is set up from the top down to transfer money from the ill advised or naive to those who are smart and well capitalised. start trading small DMA so this might be mini lots/mini contracts/direct CFDs.

Just my 2c after 15 years in this business. good luck.
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Old Jun 11, 2014, 7:29pm   #13
 
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Thanks

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Originally Posted by highbury fx View Post
That's it. You've got it. It's not complex, its a fantastic model that works well if properly managed....
Thanks and more for the expansion on the FX side of the story.

Complex until you know how. All part of the joy of the markets.
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Old Jun 11, 2014, 10:01pm   #14
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Originally Posted by SpreadDoctor View Post
start trading small DMA so this might be mini lots/mini contracts/direct CFDs.Just my 2c after 15 years in this business. good luck.
Thanks, I never done CFDS so don't know what it entails, or their risks or anything. I've traded covered warrants, which I dont' like at all. As I only have a small account to start with (<£1000), I don't know if this is enough for what you're saying.

So you think spreadbetting is a waste of time?
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Old Jun 18, 2014, 1:24pm   #15
Joined Aug 2007
[QUOTE=highbury fx;2345414]
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Originally Posted by charlesD View Post

Yeah, that's not him either...

You shouldn't think there are superstar traders who know all the answers. The traders at Goldmans are good because of Goldmans not the other way around. When you have client orders sitting on your desk that are responsible for driving the market in a particular direction you don't need to be good to make money you just need to jump on the bandwagon..

Invariably when star traders leave banks to work for themselves and realise that without the financial muscle and information available to them from the bank its actually quite hard and they struggle like everyone else. Sure they know a bid from an offer and how to draw some lines on a chart but without the luxury of knowing whats around the corner they're as bad as any one else.

you're welcome to your opinion and I don't want to slate a mate but listen to your gut instinct and trust it..
And I think you've missed the most obvious red flag. Why is an "experienced expert" joining the same fetid (non)-advisory pool as the rest of those merchants trying to flog you a quick path to insane riches? Is it because he's a benevolent and loving chap who wants to share with you, just because he can? Because he's made his billion and is now bored in early retirement?

Or...erm...because he has realised that he can't get a job with a broker so is trying to peddle this overpriced claptrap?

I'm sure that if I knew the secret to quick riches I would share it all with you rather than spending my time on the beach
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Old Jun 18, 2014, 9:54pm   #16
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[QUOTE=Jon41;2349146]
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Originally Posted by highbury fx View Post



I'm sure that if I knew the secret to quick riches I would share it all with you rather than spending my time on the beach
Hi Jon41

Well I know the secret to FX trading riches -and it can be quick ( ie 5 - 10 yrs is what only a small part of your working life ;-).)

Its basically - lots of study - hard work - commitment - dedication - patience - streetwise knowledge - strong sound mindset with emotion control - admitting when you are wrong- and continually trying to improve the method that works for you.

Notice - simple - easy and quick - does not appear - and with regards to going down the beach - for dreamers and wannabees lol

Regards


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