Free BJ!

BeginnerJoe

Senior member
3,329 350
After briefly wavered by our accountant friend here, I realised fundamentally there's nothing wrong with my strategy as it works and profitable for equities. The difference between equities SB and forex SB is the impact of volatility. So, I am going to move my strategy development and experimentation off SB to Oanda where I can control the the effect of volatility. As they allow trade value of as low as $1 per trade (ie, along the lines of $0.000001 per pip), the danger of volatility can be reduced to the exact level I want, which would be higher than equities, but lower than SB'ing £0.50 per pip. In my view the typical background noise level in forex renders trading £0.50 a pip impractical for my strategy that relies on position accumulation through pruning instead of precision entry. Now I see why there is a minimum bet on SB - these bookies are rather devious !

I can say to our sucker fish chum: no, you have not been to where I am going, or you would have seen the profit potential as I do with my equities.
 
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Sang Froid

Well-known member
344 60
After briefly wavered by our accountant friend here, I realised fundamentally there's nothing wrong with my strategy as it works and profitable for equities. The difference between equities SB and forex SB is the impact of volatility. So, I am going to move my strategy development and experimentation off SB to Oanda where I can control the the effect of volatility. As they allow trade value of as low as $1 per trade (ie, along the lines of $0.000001 per pip), the danger of volatility can be reduced to the exact level I want, which would be higher than equities, but lower than SB'ing £0.50 per pip. In my view the typical background noise level in forex renders trading £0.50 a pip impractical for my strategy that relies on position accumulation through pruning instead of precision entry. Now I see why there is a minimum bet on SB - these bookies are rather devious !

I can say to our sucker fish chum: no, you have not been to where I am going, or you would have seen the profit potential as I do with my equities.

Joe, you still trying to scalp by S/B? Nothing to do with volatility and all to do with S/B firms raping your tiny little a$$
 

rawrschach

Experienced member
1,223 277
a 'proper' broker wouldn't have fixed spreads
 

BeginnerJoe

Senior member
3,329 350
a 'proper' broker wouldn't have fixed spreads

SB spreads are not fixed either. The difference between a broker and a bookie is significantly more than just the spreads. With Oanda, once can structure one's exposure to volatility. With SB the exposure is fixed. This is the main reason I am switching to Oanda. The spread difference isn't significant for my strategy because it does not require precise entry. Small price differences have only a marginal impact relative to the size of the intended gain.
 

BeginnerJoe

Senior member
3,329 350
what i mean is, if you really want to scalp direct access is the best way to do it.

Yes, there is a price advantage but counteracted by having to pay taxes and shuffling paper. It's arguable which is better in practice given the purpose is to develop a strategy.
 

rawrschach

Experienced member
1,223 277
I believe in the UK you only pay taxes if you make more than 20k or something right? Is that really an issue for you at this stage? Even if it is there are ways around it - prospreads and ibet etc
 

BeginnerJoe

Senior member
3,329 350
I believe in the UK you only pay taxes if you make more than 20k or something right? Is that really an issue for you at this stage? Even if it is there are ways around it - prospreads and ibet etc

In the UK, you have to pay tax just to take a p1ss. I already have an SB account and don't need more. For small size plays, there's little difference between broker and casino. If it isn't for the volatility control advantage at a broker, I would be staying with SB. The minimum £0.50 per pip SB bet is too high a gearing for what I want to do. Basically, I am looking for £0.10 per 25-50 pip bet. The precise ratio is yet to be developed.
 
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BeginnerJoe

Senior member
3,329 350
This link is less exciting than i thought it would be! ;0

What more do you want ? The thread starter got banned. If that isn't exciting, I don't know what is. If you are hoping for some of my secret sauce, I am still working on it. I am not your typical double-your-money-quick merchants. When I put something up, it has to work and verifiable.
 

the_coumiester

Member
94 4
Wow, the guy that originally started this thread was a very interesting character.

What kind of secret sauce are you brewing, Beginner Joe?
 
 
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