IG Index
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rsh01
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the above in bold is your assumption.
so noone else thinks he lied on his application?
the facts (as they have been presented):
~ his old twitter account was closed well before the issue with IG
~ IG claimed he lied on his application (according to the correspondence)
~ when his old cached twitter account was dug up he closed the thread & deleted his statements
If someone was to lie about their employment then i guess they wld remove any traceability back to employers....his twitter account wld be a good start.
His motives for fabricating his application?
~ acting on inside info
~ not allowed to trade/bet as company policy
~ might potentially be in a situation to act on inside info
Acting on inside info is baloney imo as his statement shouted out "gambler" who got lucky and wanted out as quickly as possible, cos he lied on his application. i wld guess (based on betting style) he is down on other SB accounts, which might explain why he opened up an IG acct. If IG thought he didnt bet as principal then I am sure they wld still be dealing with this, and he def wld not have posted on a forum to discuss further.
i think he posted cos hes bitter cos he won yet is paying the price for not playing completely by the rules (not divulging correct employment info, for whatever motive) yet he has noone to go to as he knows he can never take this any further officially. so adnan, an employee in the financial industry who clearly knows how these things work, came to a forum to vent his spleen....and left as quick cos he he didnt quite cover all his tracks and his employment/reputation was now in danger. ok, posting using the same username then wld make him a little dumb, so this is a flaw in my argument, but it was only stock twits and he didnt say too much out of the ordinary.
any other scenarios why adnan brought this up? walter mitty? troll?
samirs' post is intriguing, yet i am not sure what it suggests......that members are willing/motivated to to flip sides easily? that they throw the curve ball about IG to promote them, cos any news is good news? try again.
i was annoyed at the time cos felt like i got scammed posting to the thread, but it was funny at the same time, t2w hadnt seen action like that for a while.
tar
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Ofcourse , compared to other binary brokers IG is the best that's what he meant but that doesn't mean they are perfect . Another thing to note that we are talking here about binaries , other markets will be treated differently and 7K profits will not be considered big at all , plus unlike binaries spreadbetting is regulated by the FSA and it is hedgeable ...
I dont think his bets were particularly big. Probably bigger than average but I'm sure they have a few footballers (and maybe even serious traders...(not from this website)) on the books who sling about bigger sums. It's all relative.
tar
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He managed to withdraw his money and you can ask donaldduke he managed to withdraw five figures sums from IG due to profits from binary trading ....
tar
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You've quoted post # 61
here is #62 :
and here is #63 :
tar
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Big difference between best and perfect , anyway i don't have an account with them anymore they closed my account cuz i refused to pay my negative balance which is fair ...
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I agree it is all relative an oil sheikh in Dubai wouldn't probably care less. But I can a sure you, that what amounts to £2000 on a volatile index like the DAX is definitely in almost all quarters considered to be a big bet. Especially if you take in consideration the SB industry, and in particularly in reference to this guy bank roll. Positions targeted for hedging purpose only to be excluded.
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CityTrader
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I guess you mean £2,000/point? which is a huge bet on the dax... (£2,000 p&l on the dax is neither here nor there for a SB firm)
Somebody on this thread or on the other calculated on how much this guy were exposed to at maximum. He added to his positions in order to reach this point. I am sure you agree that all considered £2000 a point is a big bet for almost all of us trading SB and I would say in any market.
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CityTrader
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firms like IG have maybe 30 or 40 salestraders taking phone orders- i.e. from the guys considered too big to want to deal over the internet. a £2,000 p and l puts you firmly in the retail punters category..
£2,000/point is big swinging dick category!!
£2,000/point is big swinging dick category!!
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Really guys, I just wonder how well risk & money management works for some on this forum. Not very good for many as I see it. If you calculate and include the stop loss into your position exposure, you will find out that in most cases a significant capital requirement is needed to stay in the game. And if we are talking hundreds and thousands of pounds exposure a point (no hedging included), this will amount to a lot of capital if recommended risk exposure is applied (1-2% of the capital).
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tar
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You have to keep in mind that some traders don't deposit the whole pot into their trading account , so you cant judge their risk management by their trading account but rather by their bank account
CityTrader
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I dont subscribe to the black swan theory of the possibility of all my positions blowing up at the same time. I have normally 10-15 open positions, with a total captial exposure of between £400k and a maximum of £1.5m If they all went to zero overnight then I would be in a total mess. but the postions are over a number of different markets, different industries, different sectors. i've been doing this for a long time, so whilst my risk management probably wouldnt suit most people, it works for me..
tar
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This is just an excuse to refund a burnout account.
Not for rich traders , if you have 1 Million pounds for trading would you put them all in your trading account ?
tar
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maybe not to zero but you could get a big hit , did you try it during the credit crunch ...
