One year officialy day trading

[BeginnerJoe]

I do respect your opinion Joe as you have a lot more experience in the field than I.

I just don't think the two can be fairly compared, trading in the market and betting on it.

horses for courses and all that.

Well, it wouldn't be a terrible idea if the bucketshops get in a bit of horse racing. Then they would have a single platform for all their punter's needs.

SB is a shadow market. In other words they shadow the real market, with a disclaimer that the bucketshop has an option to not shadow the real market at times of their choosing. This is why bucketshop prices can have inhuman spikes in them while no such thing exists in the real market. There was an actual example of this only the other day.

It's true however that the bucketshops needn't spike your game in most situations because you would loose your money all by yourself. But in special situations, the bucket shop has the nuclear option while a normal broker wouldn't.

In the bastion of capitalism, the USA, SB is illegal. That should give you some clues. The tax free nature of SB is just a sugar coating for a bitter pill of the government getting more of your money. They know on aggregate, you will loose, and 20% of that money is theirs.

 

[new_trader]

Which is better, xbox or ps3?

I assume they have their minor differences but, for the average user, it probably doesn't matter which you use.

Absolute garbage...stick to playing your Xbox or PS3.

 

[new_trader]

In the bastion of capitalism, the USA, SB is illegal. That should give you some clues.

USA the bastion of Capitalism???

What are you reading/watching??

Bank bailouts is Capitalism?

A country that instituted Prohibition is "free"?

Making a free-market enterprise illegal is the antithesis of Capitalism.

 

[BeginnerJoe]

USA the bastion of Capitalism???

What are you reading/watching??

The guy said so in Eddie Murphey's Trading Places.

So where is the real bastion of Capitalism ? In your shed ?

 

[Vasco da Banana]

Yep, only way to trade. spread betting CANNOT be used if you trade profitably, simples.

With the greatest respect, that just isn't and can't be true.

 

[new_trader]

In the bastion of capitalism, the USA, SB is illegal. That should give you some clues. The tax free nature of SB is just a sugar coating for a bitter pill of the government getting more of your money. They know on aggregate, you will loose, and 20% of that money is theirs.

Why would one Government make something illegal when another Government "knows" they can get more of your money by sugar coating a bitter pill? You basically contradicted yourself.

 

[BeginnerJoe]

Why would one Government make something illegal when another Government "knows" they can get more of your money by sugar coating a bitter pill? You basically contradicted yourself.

Well, one government has 11 aircraft carriers and can wrestle more from the arabs. The other couldn't even get a couple out of the factory before having to cancel one. So tightening the belt is the only solution. Feeding upon itself via SB is just a symptom of the desperation.

 

[new_trader]

Well, one government has 11 aircraft carriers and can wrestle more from the arabs. The other couldn't even get a couple out of the factory before having to cancel one. So tightening the belt is the only solution. Feeding upon itself via SB is just a symptom of the desperation.

"Baffle them with bullsh!t" must be your motto Joe.

The End!

 

[BeginnerJoe]

"Baffle them with bullsh!t" must be your motto Joe.

That's the retort of a looser.

 

[new_trader]

Last-word freak

 

[Lee Shepherd]

Good morning all,

Reading through some of the recent posts here my response may spur further reading for anyone truly interested in making money from trading whether it be DMA or SB. Hope the following helps in personal decisions as to which.

Spread betting is not permitted in America purely because it is on line gambling which illegal in the states and covered under the Internet Gambling Enforcement Act. Any other form of gambling(winnings) in the states is also tax deductible so apart from being illegal, on many levels would not hold the same advantages as it does in the U.K.

That would raise the very question on this particular subject as to which country has the real freedom to spend their money on what and where they choose. I personally prefer to have the earned responsibility to gamble on line or down the bookies. On line is better as I don't have to leave the house. Whether I win or not is a different story.

I also feel I have to mention here the word Bucket Shop. Before anyone uses this word in relation to Spread Betting companies please research as to the nature of this title and more in particular where it has been misconstrued in its use.
It is not linked in anyway to Spread Betting companies. It is a term currently and commonly bounced around by either DMA users believing that to be the only way to trade or disgruntled current or Ex Spread Bettors that feel they have been wronged.
Bucket shops (the term) are illegal entities that are un-authorized dealers in equities or/and currencies and the like. By definition and as defined by the U.S supreme court is a company that offers to sell or buy a said instrument without actually supplying the paying customer with the goods, in the U.K this would be covered under the trades description Act or possibly theft/scamming, in the U.S it is covered under SEC regulations and possibly covered under the Federal Securities law (naturally depending on the nature of the crime). This is not to be confused with Spread betting who make it clear that you are not purchasing the instrument and are simply betting on the price of the instrument and is illegal in the U.S.A purely because of the online gambling act.

All the best,

Lee Shepherd

 

[BeginnerJoe]

Given that so many people believe SB stands for stock broking, there must be some kind of scamming going on. As scamming is a major element of a bucketshop, it's easy for people make such associations.

 

[barjon]

....................Given that so many people believe SB stands for stock broking.......................

I doubt that many people really believe that, BJ, but certainly talking about "my broker" rather than "my bookie" around the dinner table has the more acceptable ring to it and likely to raise fewer eyebrows from your guests.

 

[Mr Woozel]

Absolute garbage...stick to playing your Xbox or PS3.

Please elaborate as to why it is garbage, examples would be appreciated. I don't have any gaming consoles and there was nothing in my post to indicate that I do.

 

[new_trader]

Good morning all,

Reading through some of the recent posts here my response may spur further reading for anyone truly interested in making money from trading whether it be DMA or SB. Hope the following helps in personal decisions as to which.

Spread betting is not permitted in America purely because it is on line gambling which illegal in the states and covered under the Internet Gambling Enforcement Act. Any other form of gambling(winnings) in the states is also tax deductible so apart from being illegal, on many levels would not hold the same advantages as it does in the U.K.

That would raise the very question on this particular subject as to which country has the real freedom to spend their money on what and where they choose. I personally prefer to have the earned responsibility to gamble on line or down the bookies. On line is better as I don't have to leave the house. Whether I win or not is a different story.

I also feel I have to mention here the word Bucket Shop. Before anyone uses this word in relation to Spread Betting companies please research as to the nature of this title and more in particular where it has been misconstrued in its use.
It is not linked in anyway to Spread Betting companies. It is a term currently and commonly bounced around by either DMA users believing that to be the only way to trade or disgruntled current or Ex Spread Bettors that feel they have been wronged.
Bucket shops (the term) are illegal entities that are un-authorized dealers in equities or/and currencies and the like. By definition and as defined by the U.S supreme court is a company that offers to sell or buy a said instrument without actually supplying the paying customer with the goods, in the U.K this would be covered under the trades description Act or possibly theft/scamming, in the U.S it is covered under SEC regulations and possibly covered under the Federal Securities law (naturally depending on the nature of the crime). This is not to be confused with Spread betting who make it clear that you are not purchasing the instrument and are simply betting on the price of the instrument and is illegal in the U.S.A purely because of the online gambling act.

All the best,

Lee Shepherd

A good post Lee. Spread-betting in the USA is illegal probably because it falls under their on-line gambling laws, not because the US Government wants to protect their citizens from dastardly Spread betting companies.

The most likely reason that On-line gambling is illegal in the USA is because there are very powerful special interest groups who most likely lobbied the Government to pass the law in order to protect their businesses. Cities like Las Vegas and Atlantic City depend heavily on the “walk-in” gambling trade. I could be wrong on that, but I am certain that the LEAST likely reason that spread-betting in the USA is illegal is because they have 11 Aircraft carriers...that is easily the most stupid dumbass moronic thing I’ve ever read in this forum!

 

[new_trader]

Please elaborate as to why it is garbage, examples would be appreciated. I don't have any gaming consoles and there was nothing in my post to indicate that I do.

"I assume they have their minor differences but, for the average user, it probably doesn't matter which you use."

A person who uses "assume" and "probably" to make a point doesn't come across as someone who has any experience with gaming consoles or DMA.

Do you trade or have you ever traded with a DMA account?

 

[Mr Woozel]

"I assume they have their minor differences but, for the average user, it probably doesn't matter which you use."

A person who uses "assume" and "probably" to make a point doesn't come across as someone who has any experience with gaming consoles or DMA.

Do you trade or have you ever traded with a DMA account?

When I typed my post, I didn't even know what DMA meant but assumed it was a discussion about SB companies and brokers. I know SB is pure betting without entering the market and being with a broker may give you access to the market. So I used a bit of logic and assumed DMA = Direct Market Access

My Forex broker is supposedly an ECN but if I went with an SB company, I can't see why my results would be that different. There are more imprtant things to think about that will probably make me a better trader.

 

[new_trader]

When I typed my post, I didn't even know what DMA meant but assumed it was a discussion about SB companies and brokers. I know SB is pure betting without entering the market and being with a broker may give you access to the market. So I used a bit of logic and assumed DMA = Direct Market Access

My Forex broker is supposedly an ECN but if I went with an SB company, I can't see why my results would be that different. There are more imprtant things to think about that will probably make me a better trader.

I will re-read this entire thread again just to be sure, but from what I gather, the only people who aren't speculating on the differences between DMA and SB...the only people who aren't making any assumptions whatsoever or giving dumbass analogies are the people who ACTUALLY trade both DMA and Spread-betting.

Anyway, you will all be glad to know that is enough from me for a few days. Any further replies will have to wait. I think I am close to getting on the Top Posters (in last 7 days) list and I hate being on that!

 

[BeginnerJoe]

Spread-betting in the USA is illegal probably because it falls under their on-line gambling laws

Does that mean you can demonstrate the existence of walk in bucketshops, the type described in Reminiscences of a Stock Operator ? I see no reason why a walk in bucketshop should fall foul of the online law.

Cities like Las Vegas and Atlantic City depend heavily on the “walk-in” gambling trade.

The business case for that is weak. It would be vastly more profitable for them to get a casino into every Joe's bedroom or shed 24/7.

It's more likely their government have not yet the need to to get the country to feed upon itself. But that would surely come, in good time.

 

[kwickwool]

A good post Lee. Spread-betting in the USA is illegal probably because it falls under their on-line gambling laws, not because the US Government wants to protect their citizens from dastardly Spread betting companies.

The most likely reason that On-line gambling is illegal in the USA is because there are very powerful special interest groups who most likely lobbied the Government to pass the law in order to protect their businesses. Cities like Las Vegas and Atlantic City depend heavily on the “walk-in” gambling trade. I could be wrong on that, but I am certain that the LEAST likely reason that spread-betting in the USA is illegal is because they have 11 Aircraft carriers...that is easily the most stupid dumbass moronic thing I’ve ever read in this forum!

The only reason that on line gambling is illegal in the US is purely self interest and hypocritical in that all SB's and poker sites are set up in tax free havens and therefore bring no income into the US so they see it as just a drain on them. If online gambling was set up in the US it would not be banned, simples.