Grand Fraud ( spreadbetting Companies )

[TomTom]

This is happening by adusting prices throughout the day to take stops out.
I have evedence and a transcript of a SB company admitting this happens.
The activy is price manipulation witch is illeagal on Exchanges.
Many Thanks
Tom

 

[trendie]

why dont you post the transcript itself??

(great first post! you certainly know how to make an entrance)

 

[TomTom]

Good Idea re posting the transcript, will sleep on it and decide , Im not Sh***** this will make brilliant reading I asure you.
With press coverage and the leagal ishuess I would like to take them to the cleaners, well for at least a few £100K

 

[FetteredChinos]

no you wont...

behave, be sensible, and think about what you are trying to do.

 

[jacinto]

tom tom,

please dont open more threads with the same topic. One is enought to draw the attention needed to this particular topic

thanks

 

[TomTom]

Ok will not post any more re same title

No Spread Betting companies cant manipulate there prices, when ever they feel like it.

As for taking them tothe cleaners, well more like the laundrette

If one trades there prices, why is it one of them refused instructions when the market was liquid ?

Hey what ever others may think, The prices must be in line with The Futures prices and not +++++ or ------- when its favorable .

When one has the evedence, one can call the shots , dose one agree ?

 

[FetteredChinos]

Ok will not post any more re same title

No Spread Betting companies cant manipulate there prices, when ever they feel like it.

As for taking them tothe cleaners, well more like the laundrette

If one trades there prices, why is it one of them refused instructions when the market was liquid ?

Hey what ever others may think, The prices must be in line with The Futures prices and not +++++ or ------- when its favorable .

When one has the evedence, one can call the shots , dose one agree ?

who says their prices must be in line with the futures prices?

if not, arbitrage out of them, if they are, then you dont have a case.

i cannot see how you possibly have a case.

 

[zupcon]

Ok will not post any more re same title

No Spread Betting companies cant manipulate there prices, when ever they feel like it.

As for taking them tothe cleaners, well more like the laundrette

If one trades there prices, why is it one of them refused instructions when the market was liquid ?

Hey what ever others may think, The prices must be in line with The Futures prices and not +++++ or ------- when its favorable .

When one has the evedence, one can call the shots , dose one agree ?

You have no case at all. They are free to quote any price they wish, and to accept or decline your business as they wish.

 

[black bear]

You have no case at all. They are free to quote any price they wish, and to accept or decline your business as they wish.

Correct they are are a bookmaker and you have been given the KNOCK BACK

move out in time frame and your stop won"t be run as often, that is till the big Boys at the market start to run em

 

[Splitlink]

You are not safe there, either, mate. I've had one or two losses by being stopped on an opening gap and once, when the gap was in my favour, the spread was so wide I could not sell without making a couple of points loss. Swing trading has this problem of having to place a logical stop so far away that, if they do decide to clear the stops out, it can be, really, painful.

I haven't had that experience with index trading, so far, only with shares..

That is why I am trying to day trade and go to bed without that horrible feeling about what the morrow might have in store.

Split

 

[Trader333]

It is all quite simple really, Just don't use SB companies or bucket shops to trade with serious money and these issues largely disappear.


Paul

 

[Jack o'Clubs]

You are not safe there, either, mate. I've had one or two losses by being stopped on an opening gap and once, when the gap was in my favour, the spread was so wide I could not sell without making a couple of points loss. Swing trading has this problem of having to place a logical stop so far away that, if they do decide to clear the stops out, it can be, really, painful.

I haven't had that experience with index trading, so far, only with shares..

That is why I am trying to day trade and go to bed without that horrible feeling about what the morrow might have in store.

Split

Nothwithstanding Trader333's comment, I don't understand why people put hard-stops in a spreadbetting system. Whenever I've spreadbet and had a stop it's always been 'soft' in that it's been in my head and I close out when the market reaches that level. Why on earth would you let the people who stand to gain out of your loss know where your stop is placed - it's asking for trouble IMO.

 

[black bear]

You are not safe there, either, mate. I've had one or two losses by being stopped on an opening gap and once, when the gap was in my favour, the spread was so wide I could not sell without making a couple of points loss. Swing trading has this problem of having to place a logical stop so far away that, if they do decide to clear the stops out, it can be, really, painful.

I haven't had that experience with index trading, so far, only with shares..

That is why I am trying to day trade and go to bed without that horrible feeling about what the morrow might have in store.

Split

Your right , but it is the only answer IMO to shorter term day trades , if your placing stops based on 5 min and less swing lows and the like is what I meant.

Swing trading your right again , that"s trading even if the stops in your head any one with any sense no"s where it is if the trades following normal RR, you have to adopt price acceptance at these levels and that costs if your wrong.

good post again Split, can I join your fan club

 

[black bear]

Nothwithstanding Trader333's comment, I don't understand why people put hard-stops in a spreadbetting system. Whenever I've spreadbet and had a stop it's always been 'soft' in that it's been in my head and I close out when the market reaches that level. Why on earth would you let the people who stand to gain out of your loss know where your stop is placed - it's asking for trouble IMO.

Hi Jack

Hard Stop should be placed IMO at all times when you enter trade and that IMO is where your RR should be calculated on. Thats why tradings so hard

Hard stop must be out of the way of short time frame moves

 

[Jack o'Clubs]

Hi Jack

Hard Stop should be placed IMO at all times when you enter trade and that IMO is where your RR should be calculated on. Thats why tradings so hard

Hard stop must be out of the way of short time frame moves

Devilbis,

In a 'proper' market I'd agree. But if you spreadbet, entering stops into the system is the equivalent of standing at a cash-machine and shouting out your PIN number at the top of your voice.


EDIT: Just to clarify: my stops are 'hard' in the sense that I know exactly the level at which I will close the trade. It's just that if I'm spreadbetting they're logged on a piece of paper taped to my screen, and not entered into the system so that the firm knows where they are.

 

[Splitlink]

Hi Jack

Hard Stop should be placed IMO at all times when you enter trade and that IMO is where your RR should be calculated on. Thats why tradings so hard

Hard stop must be out of the way of short time frame moves

Yes, a hard stop can be put far enough away so as not to be a nuisance in everyday trading, but it should be on as an emergency stop, at least. Even if you think that you can manage the trade while you are nearby you might be called away---anything can happen with your personal life, or the computer/site might crash.

Don't believe that shenanigans are only the province of the SB firms, by the way. I had traded options to sell in the crash of 1987. Guess what? The brokers were not answering the phones on Monday morning. That's another story Maybe I should write a book :idea:

 

[Lightning McQueen]

Nothwithstanding Trader333's comment, I don't understand why people put hard-stops in a spreadbetting system. Whenever I've spreadbet and had a stop it's always been 'soft' in that it's been in my head and I close out when the market reaches that level. Why on earth would you let the people who stand to gain out of your loss know where your stop is placed - it's asking for trouble IMO.

I'm of the same opinion here on hard stops, I havent used them so far in my tentative efforts. The problem I can see looming large with this approach is that if they decide to stiff me with a site down situation if I get my trade direction wrong, I could be stuffed good and proper...this worries me probably unduly, as like they're interested in knobbling little 'ol me but there you are, such is life of the underfunded learner spread better oh dear, hard or soft stops in spread betting, a conundrum, yes indeed,

Lightning

 

[Jack o'Clubs]

I'm of the same opinion here on hard stops, I havent used them so far in my tentative efforts. The problem I can see looming with this approach is that if they decide to stiff me with a site down situation if I get my trade direction wrong, I could be stuffed good and proper...this worries me probably unduly, as like they're interested in knobbling little 'ol me but there you are, such is life of the underfunded learner spread better oh dear, hard or soft stops in spread betting, a conundrum, yes indeed,

Lightning

Lightning,

If you imagine the scenario in which a website 'goes down' (ie is taken off line in a fast directional market to prevent themselves from being taken to the cleaners), then do you really think your stop would be honoured anyway? Or might there be a little bit of slippage In the instance that it's a genuine site outage and you urgently need to close a position, you could always enter it with one of the other spreadbet firms you have an account with for these eventualities, and close both trades out when everything is working okay again. To echo Splitlink's point that has only ever happened to me once in all my years of trading and it was a conventional broker who let me down (site down, not answering phones) and a spreadbet firm that bailed me out by letting me offset the trades I wanted to close!

 

[Lightning McQueen]

Lightning,

If you imagine the scenario in which a website 'goes down' (ie is taken off line in a fast directional market to prevent themselves from being taken to the cleaners), then do you really think your stop would be honoured anyway? Or might there be a little bit of slippage In the instance that it's a genuine site outage and you urgently need to close a position, you could always enter it with one of the other spreadbet firms you have an account with for these eventualities, and close both trades out when everything is working okay again. To echo Splitlink's point that has only ever happened to me once in all my years of trading and it was a conventional broker who let me down (site down, not answering phones) and a spreadbet firm that bailed me out by letting me offset the trades I wanted to close!

Well, yes I see that, thank you, I hadn't thought of it like that, you have sorted an issue for me...cheers!

Lightning

 

[Splitlink]

Nothwithstanding Trader333's comment, I don't understand why people put hard-stops in a spreadbetting system. Whenever I've spreadbet and had a stop it's always been 'soft' in that it's been in my head and I close out when the market reaches that level. Why on earth would you let the people who stand to gain out of your loss know where your stop is placed - it's asking for trouble IMO.

I've been trading for years and haven't sorted this matter out satisfactorily in my mind. The quick answer that I get is that the stop is too close. If it is too far away it might be more useful, because it is less likely to get triggered. So be it, but at least, the trader should have one in place. It is insurance.