BAN SPREAD BETTING or independant regulation

[TomTom]

Do the maths fowks .
20 trades per week on the DOW = 4 points times 20 = 80 pionts movement before you become profitable. based on £10 per point thats £800 to the SB FIRM .

20 trades per week on the DOW = 1 point times 20 = 20 pionts movement become profitable
based on £10 per point (£1000 margin ) thats £200 per in your pocket and not the SB FIRM.
costs for trading will be £100 so that will result in £500 pe week better of or more profits with DMA .


Lee likes promote Spread Betting as he has friends working at there.

No getting away with it SB is very expensive, with high costs no wonder so many people loose.

Answer cut the cost of trading and you will instantly become profitable .

 

[Lee Shepherd]

Please ignore Tom Tom's posts:

Every one of his posts are agressively against Spreadbet Firms.

Take a look through his posts, every one of them from when he joined is against Spreadbet Firms and how they rip you off.

Tom Tom is attempting to take Spreadbet Firms to court.

Tom Tom actively admits to 'scamming them' as they 'scam others'.

Tom Tom still uses Spreadbet Firms himself.

 

[ibex666]

tomtom

Do the maths fowks .
20 trades per week on the DOW = 4 points times 20 = 80 pionts movement before you become profitable. based on £10 per point thats £800 to the SB FIRM .

20 trades per week on the DOW = 1 point times 20 = 20 pionts movement become profitable
based on £10 per point (£1000 margin ) thats £200 per in your pocket and not the SB FIRM.
costs for trading will be £100 so that will result in £500 pe week better of or more profits with DMA .


Lee likes promote Spread Betting as he has friends working at there.

No getting away with it SB is very expensive, with high costs no wonder so many people loose.

Answer cut the cost of trading and you will instantly become profitable .

YAWN BORING
Come on tomtom how $$$$$much were you stung by sb. Or which sb firm were you sacked from. WE ALL WANT TO KNOW!!!!!!

 

[robrees101]

Lee is the aggressive one?

Please ignore Tom Tom's posts:

Every one of his posts are agressively against Spreadbet Firms.

Take a look through his posts, every one of them from when he joined is against Spreadbet Firms and how they rip you off.

Tom Tom is attempting to take Spreadbet Firms to court.

Tom Tom actively admits to 'scamming them' as they 'scam others'.

Tom Tom still uses Spreadbet Firms himself.

It seems from reading this thread that lee is the aggressive one. For someone new to spreadbetting and now reading about dma tomtoms posts are enlightening. From a neutral standpoint i get the impression that lee works for a spreadbetting company and is just fending off negative comment from his industry?

 

[ibex666]

tomtom

It seems from reading this thread that lee is the aggressive one. For someone new to spreadbetting and now reading about dma tomtoms posts are enlightening. From a neutral standpoint i get the impression that lee works for a spreadbetting company and is just fending off negative comment from his industry?

Dont be fooled tomtom got stung badly by an sb firm in his past.thats why hes anti sb

 

[robrees101]

ok

Dont be fooled tomtom got stung badly by an sb firm in his past.thats why hes anti sb

ok but why are you guys so pro spread betting, not hearing a single bad word against sb firms?

 

[ibex666]

sb

ok but why are you guys so pro spread betting, not hearing a single bad word against sb firms?

there are tons of posts on here and other forums slamming sb firms big time.
people who slag sb firms tend to be newbies who dont know exactly what theyre doing, they lose a wedge of money and then slag the sb firm. genuine sb traders that make a few quid dont tend to slag the sb, because they dont have an axe to grind!!!!!

 

[ibex666]

tomtom

Ive just figured out where tomtom lost all his money! in a post he wrote <what the sb,s dont want you to know> hes got it in badly for cmc, because he wouldnt play their game. so they "took" him and he doesnt like it.
never mind tomtom one day you may recoup your losses!!!!

 

[tommac]

Ok heres the point-Spreadbetting isn`t perfect but it allows people to have a punt. simple as that. And, yes, you are betting against them. If you care about being "professional " then use DMa. I`ve been dealing for years and use both but I still like a "punt" with a pound or two per point on a sb`er. Just don`t try to be clever is what i`ve learned. ( strictly my opinion only of course)

 

[robrees101]

ok

there are tons of posts on here and other forums slamming sb firms big time.
people who slag sb firms tend to be newbies who dont know exactly what theyre doing, they lose a wedge of money and then slag the sb firm. genuine sb traders that make a few quid dont tend to slag the sb, because they dont have an axe to grind!!!!!

ok I listen to what you are saying I just find it strange that you defend spreadbetting so strongly. I play poker online for a living yet i would not be so quick to jump to the online poker insdustrys defence should an issue arise. I mean why would I? perhaps stuff goes on in the poker insdustry that I do not know about but i would not straight away jump to their defence just becasue i am sucessfully making money at poker. Basically i would just read through the posts to see what quibbles people had with the poker industry and if i did not agree with it i doubt i would likely defend the industry as I would probabnly not have any evidence to support the industry from my personal interaction with it (aside from the principle that I play becasue i assume it is safe). So in relation to spreadebtting basically i beleive most people would not defend an industry such as spreadbetting unless they represented one of the spreadbetting firms. Doesnt make sense.

 

[trader_dante]

Do the maths fowks .
20 trades per week on the DOW = 4 points times 20 = 80 pionts movement before you become profitable. based on £10 per point thats £800 to the SB FIRM .

20 trades per week on the DOW = 1 point times 20 = 20 pionts movement become profitable
based on £10 per point (£1000 margin ) thats £200 per in your pocket and not the SB FIRM.
costs for trading will be £100 so that will result in £500 pe week better of or more profits with DMA .


Lee likes promote Spread Betting as he has friends working at there.

No getting away with it SB is very expensive, with high costs no wonder so many people loose.

Answer cut the cost of trading and you will instantly become profitable .

Come on now TomTom,

You do the Maths:

Exchange initial margins are $2438 for mini Dow $5. That is £1,510 to punt at a little over £2 per tick.

With a SB company I can do the same size trade with only £100. (£50 per £1 pp with E*Trade for example)

That is over 15 times less money needed to play for the same return.

So, the first major disadvantage of DMA to the average joe will be that he needs a lot more money to compete.

Also, since you have traded the YM direct market, or so you say, you will know that the spread is not ALWAYS 1. It often fluctuates. I have seen it as wide as 20 when the bids and offers are pulled. SB firms may requote but they do not (at least the 9 accounts I have, don't) widen their spreads before news or just after etc.

Spreadbet firms offer GUARANTEED STOPS. Does the direct market offer this? Don't think so. If the "punter" holds an overnight and gets it severely wrong, they may lose their shirt in the direct market. Not so with an SB firm.

It's clear you are on a crusade but I would suggest at this point, you give it a rest.

 

[ibex666]

defending sb

ok I listen to what you are saying I just find it strange that you defend spreadbetting so strongly. I play poker online for a living yet i would not be so quick to jump to the online poker insdustrys defence should an issue arise. I mean why would I? perhaps stuff goes on in the poker insdustry that I do not know about but i would not straight away jump to their defence just becasue i am sucessfully making money at poker. Basically i would just read through the posts to see what quibbles people had with the poker industry and if i did not agree with it i doubt i would likely defend the industry as I would probabnly not have any evidence to support the industry from my personal interaction with it (aside from the principle that I play becasue i assume it is safe). So in relation to spreadebtting basically i beleive most people would not defend an industry such as spreadbetting unless they represented one of the spreadbetting firms. Doesnt make sense.

IM NOT DEFENDING SB.
over the years ive had the requotes, the slippage, the refer to dealer, the slow execution issuses as we all have had at some point or another. im just sick of people slagging it all the time. if it was that bad NONE OF US WOULD BE USING IT !!!!!!

 

[new_trader]

I could never support banning an industry that I make so much money in.

From the day you joined this forum and in every 3rd post you tell people the absolute fortune you make spread betting but you are still working for someone else aren’t you? Trading their account? I find that interesting because whenever I talk about trading some idiot always wants to bring up the point that I still have a full time job. Anyway, don’t worry about defending yourself because the trader_dante rep brigade will show up soon and do it for you.

UNSUBSCRIBED

 

[trader_dante]

From the day you joined this forum and in every 3rd post you tell people the absolute fortune you make spread betting but you are still working for someone else aren’t you? Trading their account? I find that interesting because whenever I talk about trading some idiot always wants to bring up the point that I still have a full time job. Anyway, don’t worry about defending yourself because the trader_dante rep brigade will show up soon and do it for you.

UNSUBSCRIBED

LOL, dude, you have a serious chip on your shoulder.

i) I don't work for someone else. I am self employed. I trade my OWN account. Not theirs. Do you realise how a prop firm works? You pay someone a fee for:

a) providing you with expensive equipment (Bloomberg, reuters, CQG etc) and
b) Providing you with capital and a huge amount of leverage.

If you were happily making money and someone came to you and said "Hey new_trader, how about I let you trade upwards of 10 lots ($500 pp in the ES) with no risk to your own capital and let you keep up to 90% of what you make" what would you say:

Probably - "No way, I am far too high and mighty - UNSUBSCRIBED" LOL

Come on dude, I might be a lot of things, but I am not an idiot.

ii) The only reason I ever say I make money spreadbetting is because there is usualy some "idiot" saying its impossible to make money.

 

[Lee Shepherd]

It seems from reading this thread that lee is the aggressive one. For someone new to spreadbetting and now reading about dma tomtoms posts are enlightening. From a neutral standpoint i get the impression that lee works for a spreadbetting company and is just fending off negative comment from his industry?

Hi mate and welcome,

Your obviously new here and haven't followed any of my posts, live trades, blogs and account screenshots so it may look to you as though I do work for a spreadbet company. Those that do know me, know this not to be true (and theres many).

As for defending the industry, absolutely, I will.

Now, you play poker right, you say you do it for a living, therefore, you make money from it (if its for a living then I assume you do). Now imagine me going on about it in every post over the last year about how poker games are crap and you always lose money, imagine that I said as soon as you start to win they turn the tables on you and steal your money from you, imagine that I also rant in every post that you will never make money from poker as its all a scam, imagine every one of the posts that I wrote mentioned how bad poker was and that you'd have to be stupid to play the game cos you always lose money and its impossible to win.....but yet....I play poker myself but dont inform people unless questioned about it cos it showed up in an old previous post I'd forgotten about. p1ss you off right....maybe...maybe not.

For an industry that pays for my lifestyle, plus grows my savings account or retirement plan(whatever you wish to call it) plus grow my trading account and has done so for many years, I felt it only time to put this guy straight and tell him (and others) that in no shorter term that he is talking sh1t, ie, what he says is not true, I have the evidence, the screenshots and the live trades to prove this. MONEY CAN BE MADE FROM SPREADBETTING.

So, when I do this, he then is not happy with only constantly discrediting EVERY spreadbet firm but has since gone on to also include posts that have tried to discredit me. He has attempted to do this by saying that I work for them, therefore I have a motive to defend them. On this occassion it has worked for if ibex didn't inform you, you would have assumed that tom tom is correct. I assure you he is not and you are welcome to read through any of my posts or blogs and you'll see a different picture about me. Also, read through tom tom's post, almost every one is about slagging off spreadbet firms and dont use them cos they rip you off ect.....but.....he still uses them himself.....why???????

He is a hypocrite for this reason alone.

Be cool and have fun around the site of trade2win and learn who to listen to and who to ignore.

Happy trading.

 

[north5]

One quick question on DMA vs Spreadbetting. I see people comparing the transaction costs favourably for DMA and have no reason to question that. However is it not true that DMA trading attracts tax? If you are doing well then you can look at 40% of your profit being taken by HMRC can't you? So whilst you may be better off on an individual trade, if you are profitable DMA could actually be more expensive - could it not?

As far as SB companies go - IMO you need to realise that the market they quote is not "THE" market - but one they are making based on it. So the price you get will not be an exact fit as there will be some factor applied for their own risk. Sometimes it works for you - sometimes against. It's only a problem if you don't understand that.

 

[trader_dante]

1) Lee doesn't work for a spreadbetting company.

2) He has given enough evidence money can be made from them.

3) So have I.

4) You can make money from spreadbetting and it is, relatively easy.

5) If you cannot make money that is down to YOU and nothing to do with the company.

6) Where did you get that crack you're smoking?

 

[Lee Shepherd]

One quick question on DMA vs Spreadbetting. I see people comparing the transaction costs favourably for DMA and have no reason to question that. However is it not true that DMA trading attracts tax? If you are doing well then you can look at 40% of your profit being taken by HMRC can't you? So whilst you may be better off on an individual trade, if you are profitable DMA could actually be more expensive - could it not?

As far as SB companies go - IMO you need to realise that the market they quote is not "THE" market - but one they are making based on it. So the price you get will not be an exact fit as there will be some factor applied for their own risk. Sometimes it works for you - sometimes against. It's only a problem if you don't understand that.

Yes you are right about the tax issue and pound for pound I am better off sticking with spreadbetting for this reason, however, please be advised of the following:

Spreadbetting is classed as gambling in the U.K, therefore you WILL NOT be able to get any decent credit, also you'll find as time goes on that due to 'being unemployed' your credit rating will suffer badly, you will find it dam near impossible to get a mortgage, HP on a car even a store card or a blockbuster video card. So, for these reasons you need to be absolute liquid cash or you could find yourself with no roof over your head.

If you have debts already, think very carefully about giving up employment and becoming unemployed by way of spreadbetting for when you next apply for a renewal to your mortgage or other debts, could end up with the banks reclaiming their money immediately and in full (to which they are entitled to do at any time).

For these reasons, DMA or CFD's would be more preferable.

 

[north5]

^^^ True.

 

[Lightning McQueen]

Is it not the case that cgt was reduced from 40% to 18% last april?