Well now that the discussion been shifted here, I'd like to suggest we try not to use adjectives towards each other...
In my question to Stevet I asked if anyone making money with s/b firms on an ongoing basis could be targeted, thanks for his reply...
Only Stevet thinks noone can make money with s/b firms on an ongoing basis, I do not agree with that as I know people who do, though I do accept that the vast majority could be losing with them...
As for targeting such people, a few things that I could think of would be delaying their quotes thus messing up with their entry/exit levels, requoting them every time they place an order, not executing their non-guaranteed stops at the best price, and as Stevet said chopping off some points...
Only I have never met anyone from s/b companies neither been to their offices, I thought someone who has could shed more light...that's of course if there are any other ways they could use, maybe none...
I do agree with this point "...i suspect people are just comparing the SB price to the cash price, wheras it needs to be compared to the futures price"... and also suggest those following s/b price keep an eye on futures price as well, it helps...
As for paper-trading and a penny a point trading, I do think it helps to build up knowledge and experience, but only if it is used as a step to go for bigger ones where as Stevet said you feel the heat that's where you get the whole combination of knowledge, experince, techniques, psychology, state of mind, greed, fear, etc once you prove you can win on an ongoing basis with bigger stakes (which is relative considering one's funds, but certainly not pennies) you'll know you've started the real learning...
Regarding losing, I do agree that one has to go through that, since your reactions to losing positions could well indicate how well you've learnt trading...
As for using s/b, cfds, shares, options, futures, indices, etc I do not see any point being against any of them, all one can do is favouring one or some of them for their trading and that's all, as others may favour differently and that's only natural...one can both win or lose on any of them...
Just my opinions on a few points I picked up from the original thread, perhaps we can carry on here concentrating on certain concrete points...
Riz
In my question to Stevet I asked if anyone making money with s/b firms on an ongoing basis could be targeted, thanks for his reply...
Only Stevet thinks noone can make money with s/b firms on an ongoing basis, I do not agree with that as I know people who do, though I do accept that the vast majority could be losing with them...
As for targeting such people, a few things that I could think of would be delaying their quotes thus messing up with their entry/exit levels, requoting them every time they place an order, not executing their non-guaranteed stops at the best price, and as Stevet said chopping off some points...
Only I have never met anyone from s/b companies neither been to their offices, I thought someone who has could shed more light...that's of course if there are any other ways they could use, maybe none...
I do agree with this point "...i suspect people are just comparing the SB price to the cash price, wheras it needs to be compared to the futures price"... and also suggest those following s/b price keep an eye on futures price as well, it helps...
As for paper-trading and a penny a point trading, I do think it helps to build up knowledge and experience, but only if it is used as a step to go for bigger ones where as Stevet said you feel the heat that's where you get the whole combination of knowledge, experince, techniques, psychology, state of mind, greed, fear, etc once you prove you can win on an ongoing basis with bigger stakes (which is relative considering one's funds, but certainly not pennies) you'll know you've started the real learning...
Regarding losing, I do agree that one has to go through that, since your reactions to losing positions could well indicate how well you've learnt trading...
As for using s/b, cfds, shares, options, futures, indices, etc I do not see any point being against any of them, all one can do is favouring one or some of them for their trading and that's all, as others may favour differently and that's only natural...one can both win or lose on any of them...
Just my opinions on a few points I picked up from the original thread, perhaps we can carry on here concentrating on certain concrete points...
Riz
neil
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Chartman and the 100ema
I have been looking at Chartmans posted charts (Intraday) relating to the use of a 100ema and 14rsi.
They have triggered some good trades lately. However, I felt that some of the non profitable trades (Executed via spread betting) would have had a better chance if trades were taken via a broker such as Interactive and Datek etc, using mini-Futures.
Having recently tried a cmc account I have been miffed to discover that pressing a button on their interface does not get an instant trade. Several times I have been kept waiting until the trading risk becomes untenable.
Compare that to Globex trading where, invariably, you are filled within seconds.
Another board put up another US broker that might suit some of us, in addition to other US brokers mentioned here. However,
I am not an expert on these brokers so cannot comment on them.
This is the broker highlighted on another site:
http://www.daytrade4less.com/home.html
The people betting on Indicies might find that their success ratio increases due to the signals from their systems that produce trades too small for spread betting profit, becoming small profit trades via a US Broker?Future Trade medium.
Coming back to Chartman - I feel his 100ema method has an additional strengh - that of preventing one from overtrading. It teaches one to sit and wait for the system to set up.
There are plungers on this board, I've seen them falling in flames from the sky
Most of the above relates to intraday trading. Positions over a longer term via a rolling cash spread bet are not so spread/speed of execution critical imho.
Give Chartmans method a try to cure that itchy trigger finger.
I have been looking at Chartmans posted charts (Intraday) relating to the use of a 100ema and 14rsi.
They have triggered some good trades lately. However, I felt that some of the non profitable trades (Executed via spread betting) would have had a better chance if trades were taken via a broker such as Interactive and Datek etc, using mini-Futures.
Having recently tried a cmc account I have been miffed to discover that pressing a button on their interface does not get an instant trade. Several times I have been kept waiting until the trading risk becomes untenable.
Compare that to Globex trading where, invariably, you are filled within seconds.
Another board put up another US broker that might suit some of us, in addition to other US brokers mentioned here. However,
I am not an expert on these brokers so cannot comment on them.
This is the broker highlighted on another site:
http://www.daytrade4less.com/home.html
The people betting on Indicies might find that their success ratio increases due to the signals from their systems that produce trades too small for spread betting profit, becoming small profit trades via a US Broker?Future Trade medium.
Coming back to Chartman - I feel his 100ema method has an additional strengh - that of preventing one from overtrading. It teaches one to sit and wait for the system to set up.
There are plungers on this board, I've seen them falling in flames from the sky
Most of the above relates to intraday trading. Positions over a longer term via a rolling cash spread bet are not so spread/speed of execution critical imho.
Give Chartmans method a try to cure that itchy trigger finger.
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