Banned for winning too much?

[new_trader]

I have.

I suppose this is in the same category as Alien abduction, UFO's and ghosts. Basically I won't believe it until it happens to me.

So what did they say?

I can't see why they wouldn't want your business, it really makes absolutely no sense. Remember this is about how long you hold a trade and not how much money you make.

 

[Rossini]

U mean u have been banned ? could u give more details .... ?

No I don't mean I was banned, I was replying to new traders post regarding phone calls and emails basically saying they don't want your business.

I spoke to their head dealer, I was kicking off that they where not accepting any of my trades regardless of how I was trying to get into them. He basically said you've been dealer filled and your accounts activity is being monitored to minimise our risk, its up to the dealers discretion as to whether he accepts your trades at all.

Coincidentally that was just before a spaceship landed on the office roof and picked me up...

 

[Rossini]

I suppose this is in the same category as Alien abduction, UFO's and ghosts. Basically I won't believe it until it happens to me.

So what did they say?

I can't see why they wouldn't want your business, it really makes absolutely no sense. Remember this is about how long you hold a trade and not how much money you make.

Well I was holding trades for minuets not seconds so they easily had time to hedge.

 

[tar]

I think it depends on which market u trade , there is a big deiffrence between exotic fx and ftse100 . Also it depends on how big u bet , also it depends if u always take advantage of lagged prices ...

 

[Rossini]

All those trades with IG where on the majors, and I was only trading £50pp which is not a huge size. In my experience IG had no lagging prices. If that's what you want go with a American FX broker, for some reason they seem to be slower?

 

[tar]

Nice to hear that u r not banned after scalping fx using 50pound pp , u can make a big chunk of money on this size on a monthly basis ...

 

[Rossini]

They don't need to ban you, dealer filling you give the same result if your scalping.

 

[new_trader]

No I don't mean I was banned, I was replying to new traders post regarding phone calls and emails basically saying they don't want your business.

I spoke to their head dealer, I was kicking off that they where not accepting any of my trades regardless of how I was trying to get into them. He basically said you've been dealer filled and your accounts activity is being monitored to minimise our risk, its up to the dealers discretion as to whether he accepts your trades at all.

Coincidentally that was just before a spaceship landed on the office roof and picked me up...

This doesn't clear anything up. Dealer filling is size dependant by what you say and has nothing to do with how long you hold a trade. Why do you continue S/B when clearly being such a successful trader you will make millions scalping using DMA? What is it, the tax free thing?

 

[Rossini]

This doesn't clear anything up. Dealer filling is size dependant by what you say and has nothing to do with how long you hold a trade. Why do you continue S/B when clearly being such a successful trader you will make millions scalping using DMA? What is it, the tax free thing?

Hang on, where did I say I was such a successful trader? I'm nicely profitable yes, but I have never and would never say I am some kind of market wizard! Also at the time a was using IG as my main rout to market daily moves where 500pts plus, it wasn't hard to make a lot of money quickly with such volatility.

You post a lot of sense but you can come out with some crap. I haven't used SB's for months now as DA is the way forward for me...

 

[new_trader]

Hang on, where did I say I was such a successful trader? I'm nicely profitable yes, but I have never and would never say I am some kind of market wizard! Also at the time a was using IG as my main rout to market daily moves where 500pts plus, it wasn't hard to make a lot of money quickly with such volatility.

You post a lot of sense but you can come out with some crap. I haven't used SB's for months now as DA is the way forward for me...

So, now we're back to square one again. Do S/B's hate scalpers and day traders?


...and I can come out with some crap.....

 

[yuapanda]

Sorry, I don't understand. Why do brokers not like day traders and scalpers? I'd have though the more trades you do the more commissions you pay = they're happy.

 

[tar]

http://www.trade2win.com/boards/spread-betting/7018-have-you-been-banned-spreadbetting.html

 

[arabianights]

Sorry, I don't understand. Why do brokers not like day traders and scalpers? I'd have though the more trades you do the more commissions you pay = they're happy.

Real brokers do love this. But spread betting companies are not real brokers, and are generally taking the other side of your trade... so if you're good they're effectively just giving you money. Which they don't like

 

[new_trader]

Real brokers do love this. But spread betting companies are not real brokers, and are generally taking the other side of your trade... so if you're good they're effectively just giving you money. Which they don't like

So let me see if I understand this correctly:

-A swing trader makes 1 trade per month and makes an average of £1000/week and they are loved by spread betting companies.

-A scalper trades 20 times/day and makes an average of £200/week and they are hated by spread betting companies.

Yes...I can see it now, it makes loads of sense!

 

[Joey25]

Real brokers do love this. But spread betting companies are not real brokers, and are generally taking the other side of your trade... so if you're good they're effectively just giving you money. Which they don't like

I don't buy that. They look at everyone in aggregate, and maybe only 50% hedge on the FTSE, for example, on the assumption that, yes, the aggregate loses.

What they do hate is people arbing their dinosaur prices, which being internet browser based are bound to be a little inefficient compared to Pats or X-Trader etc.

 

[arabianights]

So let me see if I understand this correctly:

-A swing trader makes 1 trade per month and makes an average of £1000/week and they are loved by spread betting companies.

-A scalper trades 20 times/day and makes an average of £200/week and they are hated by spread betting companies.

Yes...I can see it now, it makes loads of sense!

Anyone making £200/week and trading 20 times a day is a ****** trading tiny size and is therefore unhedgeable by the spread betting companies - so (s)he is effectively just taking their money. Someone trading once a month to make £4k on average per trade is easily hedgeable and useful for their book. They like that kind of client.

 

[Joey25]

Anyone making £200/week and trading 20 times a day is a ****** trading tiny size and is therefore unhedgeable by the spread betting companies - so (s)he is effectively just taking their money. Someone trading once a month to make £4k on average per trade is easily hedgeable and useful for their book. They like that kind of client.

Again, 1000 "little" people are hedgeable in the aggregate.

The DAX trader knows his net position, the FTSE options trader knows his net delta.

Plus, (for the one I use anyway), they are committed to instant fills over the web up to $2000 a point in ES (40 lots). They don't give a **** about individuals - only cheats.

 

[Black Swan]

Anyone making £200/week and trading 20 times a day is a ****** trading tiny size and is therefore unhedgeable by the spread betting companies - so (s)he is effectively just taking their money. Someone trading once a month to make £4k on average per trade is easily hedgeable and useful for their book. They like that kind of client.

hmm...not so sure. Surely they hedge on the basis that they have (for example) thousands of monkeys just 'putting one on' the FTSE 100 therefore the spread is only two pips (on IG)? Take your point though.

 

[Rossini]

Again, 1000 "little" people are hedgeable in the aggregate.

The DAX trader knows his net position, the FTSE options trader knows his net delta.

Plus, (for the one I use anyway), they are committed to instant fills over the web up to $2000 a point in ES (40 lots). They don't give a **** about individuals - only cheats.

What company is that?

 

[arabianights]

Again, 1000 "little" people are hedgeable in the aggregate.

The DAX trader knows his net position, the FTSE options trader knows his net delta.

Plus, (for the one I use anyway), they are committed to instant fills over the web up to $2000 a point in ES (40 lots). They don't give a **** about individuals - only cheats.

Of course they can hedge the aggregate. But someone who is just taking money from them is not at all helpful... would they be better off with or withot them?