luckystrike23
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scalping (from a spread betting perspective) is defined here Scalpers/Arbers and why Spread Betting Firms Hate Them
shadowninja
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It does depend on what you define by scalpers. There's one definition which means a trader that takes advantage of a difference in the price between the two brokers (or something very similar). I think a more common kind of definition of scalping whereby you only have a position open for anything between seconds and minutes is used these days.
Yes it happens all the time. By being put on referral to a dealer you are in fact flagged and branded as a scalper.
Scalping
I have been branded a scalper by a big Brokerage firm in the city and my account was closed along with several other day traders. With spread betting firms I've never had that problem as they will say the 'price is no longer available' if they have no bids/offers at the requested level. I now use both a spread betting firm and a US based broker with direct access, both allow scalping. If the SB firm places you on manual you know it's time to move on, as I understand that SB firms (and some brokers) do not hedge their bets, they pay the winners (the small minority) with the losers money (the vast and endless pool) and their clients are flagged as losers (no need to hedge) and winners (must hedge). Spread betting is of course advantageous from a tax point of view, but if you are a scalper and make money consistently, make sure you have a good DA broker too (I always place the same trade on both), as paying tax on profits can be a pleasant experience LOL.
I have been branded a scalper by a big Brokerage firm in the city and my account was closed along with several other day traders. With spread betting firms I've never had that problem as they will say the 'price is no longer available' if they have no bids/offers at the requested level. I now use both a spread betting firm and a US based broker with direct access, both allow scalping. If the SB firm places you on manual you know it's time to move on, as I understand that SB firms (and some brokers) do not hedge their bets, they pay the winners (the small minority) with the losers money (the vast and endless pool) and their clients are flagged as losers (no need to hedge) and winners (must hedge). Spread betting is of course advantageous from a tax point of view, but if you are a scalper and make money consistently, make sure you have a good DA broker too (I always place the same trade on both), as paying tax on profits can be a pleasant experience LOL.
Phil Mibbutz
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Surely proper DA brokers like scalpers because they make their profit on the commission?
Phil Mibbutz
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Any problems with operating an account with a US broker if you're in the UK, glide, and can you get the same low commission rates as Yank customers? Most people seem to use IB over here, and there must be a eason why.
IB is good and commissions are reasonable. Execution is ok as long as you have a fast reliable connection.
Tradefair and IGindex for SB. IB as broker. I trade: 80% Dax, 10% Currencies, 5% S&P and 5% energy commodities.
Very rarely but it does happen, the DAX is a heavily traded instrument and liquidity is rarely a problem with the exception of figures such as CPI, NFP etc coming out.
hi all,
i just found your board on google, im reading alot here.
i played a bit arround on tardefair with their hilo trader, was betting on crude oil.
so far i used 2 extern live charts i figuered out sometimes my charts were a bit faster so i was able to place some good bets.
After a few hours i recognized they start to ignore my fast placed bets, so i could not place anymore bets when market was moving.
finally i was able to place a good bet with a quote of 1 /15!!!
Then the rebound was coming, but wtf they deleted my bet ofmg!
Called the customer service but they say i never placed that bet.
Name is program lol tradeFAIR.
i just found your board on google, im reading alot here.
i played a bit arround on tardefair with their hilo trader, was betting on crude oil.
so far i used 2 extern live charts i figuered out sometimes my charts were a bit faster so i was able to place some good bets.
After a few hours i recognized they start to ignore my fast placed bets, so i could not place anymore bets when market was moving.
finally i was able to place a good bet with a quote of 1 /15!!!
Then the rebound was coming, but wtf they deleted my bet ofmg!
Called the customer service but they say i never placed that bet.
Name is program lol tradeFAIR.
i know that it has been explained to you regards scalping.Most spreadbetting firms dont like it fact, no good reason i dont think because you can lose just as much scalping as long term views.
Futuresbetting.com dont mind as they prefer scalpers, all bets are hedged so not against the client,they have fixed spreads,so the more you trade the more they earn.
have a look.
I use the Tradefair spread betting platform and I almost always get filled. When the market is volatile, they may requote you as no bids/offers exist anymore. This is true when trading level II as you see a gap opening and u can't hit the bid or offer u're after. Fair is fair, if no bids/offers no can do. I trade using my own advantage and mostly it works but sometimes not, c'est la vie.
francisfinley
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i have just started scalping the FTSE(have been trading spreadbets for over a year now) - i will let you know my experiences of spreadbet brokers etc - its going to be a journey from what i have read.
i am currently with iii/cityindex (also finspreads) because everything is on one screen ie i can buy and sell and close all on one screen - ideal for moving at speed - the spread at 2 points can be bettered but i cannot find a platform as decent.
so far i have been with
iii/cityindex/finspreads - ok
capital spreads - not all on one screen but 1 pip spread - closed my account last year
cmc - ****e - im not going into it. the orders never filled.
i have investigated
IG - will only give me a fischer price account
ETX - still a 2 point spread but one of the best platforms
futuresbetting - £10 per point minimum....
GFT - havent really got into the platform
looking into -
ODL spreadbetting
http://www.trade2win.com/boards/spr...mmend-1-tick-ftse-spreadbetting-platform.html - this is another thread as im trying to find a 1pt spread ftse broker but who doesnt mind scalping - ie with a decent enough platform and wont send me to manual.
it sounds as tho i will have to either go to futuresbetting / DMA....
any other ideas?
i am currently with iii/cityindex (also finspreads) because everything is on one screen ie i can buy and sell and close all on one screen - ideal for moving at speed - the spread at 2 points can be bettered but i cannot find a platform as decent.
so far i have been with
iii/cityindex/finspreads - ok
capital spreads - not all on one screen but 1 pip spread - closed my account last year
cmc - ****e - im not going into it. the orders never filled.
i have investigated
IG - will only give me a fischer price account
ETX - still a 2 point spread but one of the best platforms
futuresbetting - £10 per point minimum....
GFT - havent really got into the platform
looking into -
ODL spreadbetting
http://www.trade2win.com/boards/spr...mmend-1-tick-ftse-spreadbetting-platform.html - this is another thread as im trying to find a 1pt spread ftse broker but who doesnt mind scalping - ie with a decent enough platform and wont send me to manual.
it sounds as tho i will have to either go to futuresbetting / DMA....
any other ideas?
francisfinley
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UPDATE
iii/cityindex/finspreads - 2 pt ftse/dax spread - had enough of that.
capital spreads - not all on one screen but 1 pip spread - closed my account last year tho. fills too slow
cmc - ****e - im not going into it. the orders never filled.
IG - will only give me a fischer price account - no good
ETX - still a 2 point spread but one of the best platforms
futuresbetting - £10 per point minimum....
GFT - havent really got into the desktop platform the web dea book is an excellent layout and one click entry but slow
dealingdesk - nice layout but 2pt ftse/dax spread - no good for me
ODL - good solid - too many clicks for me. have heard they are not keen on scalpers
tradefair - best i have seen yet for speed and ease of use.
so tradefair is in the lead followed by ODL & GFT for speed platform and size of spread.
If you are with one of these i dont think you can go far wrong but that is my opinion. im not affiliated with them.
if you have any other suggestions please tell me and i will have a go on them
Apparently you are not trading live with them. On the live account you have 1 point spread on the FTSE/DAX.