Directional
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Vince Stanzione claims to have had this happen, whether you believe that or not...?
dick_dastardly
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JimyT said:...........has anyone had a spreadbetting account closed because they've been winning too consistently?
No, but it remains one of my ambitions in life.
charliechan
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.....i am aware of people being put on manaul execution though - which can be a spanner in the works
Lightning McQueen
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JimyT said:...........has anyone had a spreadbetting account closed because they've been winning too consistently?
Quotes from Simon on the Capital Spreads thread.
"We have a policy of not closing clients just because they are winning" also "And anyway why on earth would I want to lose a client who gives us a good 'heads up' on a market? If you had a friend who consistently made money would you not want to make the same trades as him?
But then again its said that only 5% are winners anyway so not many closed accounts because of success, more a case of no money left to trade with
the blades
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JimyT said:...........has anyone had a spreadbetting account closed because they've been winning too consistently?
If so many people lose, and so many people pay so much money for systems that don't work, why would you put off a customer who knows how to beat the market? Better run with him, surely?
Only successful scalpers would have anything to fear, IMHO - and spreadbetting probably isn't for them, anyway.
Though not "consistently" profitable, I take good money off the spreadbet companies overall, without problems.
UTB
dick_dastardly
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Lightning McQueen
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juanbyte said:
Nice one juanbyte, hope it felt good, may we know the name of the company that restricted you
cheers
Don
It would not be fair to name them as it was before they were taken over by another group although that may give you a clue.
At the time of the takeover every customer had to signup for the new company and I refused unless they allowed me to trade via the internet again. After them making several phone calls they agreed.
Most of my trading is now done via futures because of the lower spreads. Also even now via spreadbetting you still get messages like "You are requesting quotes too frequently" and " The underlying price has moved. Please try again" which makes trading more difficult via spread betting.
At the time of the takeover every customer had to signup for the new company and I refused unless they allowed me to trade via the internet again. After them making several phone calls they agreed.
Most of my trading is now done via futures because of the lower spreads. Also even now via spreadbetting you still get messages like "You are requesting quotes too frequently" and " The underlying price has moved. Please try again" which makes trading more difficult via spread betting.
the blades
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juanbyte said:
Hello JB,
Out of interest, what's a typical length of trade for you?
Cheers,
UTB
There isn't a typical length of trade as it depends upon the timescale of the charts I am looking at.
Most chart patterns are fractal by nature. What I mean is that if you remove the times from the charts it is difficult to know if it is a weekly, daily, hourly or 1-minute chart.
Using 1-minute charts the average length of a trade would be 8-10 minutes.
If I am using 10 minute charts the length of trade would be 40-50 minutes.
I also trade 2 EOD methods, one averages 3 days in the market and the other abot 32 days in the market.
Hope this helps.
the blades
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juanbyte said:
Thanks for the reply juanbyte,
My interest was linked to my earlier point. If I were a SB company, I'd hold onto winners like gold dust, and go with them.
However, this gets progressively harder, I suspect, on shorter time-frames where slippage and market movements are more critical.
My trades last from anything from a day to several months. I'd be easy to shadow, should I ever become a problem to them. As it stands. I take my quotes before they even know who I am, and I'm on a strong (lucky?) winning streak. Nothing seems to change - yet.
UTB
Hi Blades
I think that it depends on how much your return is, the was another occassion when I made 250% in a month i.e. £4k to £14 and the following month it started to take up to 2 minutes to get a quote and even then the prices were way out, particularly on exits.
Depends on how much you have on deposit with them, if you have £50k and make £10k this is only 20%.
If you have £10k and make £50k i.e. 400% I am sure this throws up red flags in ones account.
I think that futuresbetting.com is setup differently and does not care how much you make only how much you trade as it offsets all trades into the market.
I think that it depends on how much your return is, the was another occassion when I made 250% in a month i.e. £4k to £14 and the following month it started to take up to 2 minutes to get a quote and even then the prices were way out, particularly on exits.
Depends on how much you have on deposit with them, if you have £50k and make £10k this is only 20%.
If you have £10k and make £50k i.e. 400% I am sure this throws up red flags in ones account.
I think that futuresbetting.com is setup differently and does not care how much you make only how much you trade as it offsets all trades into the market.
the blades
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juanbyte said:
Hello juanbyte,
I've taken about £15.5K since December - on an account that would be equivalent to about £70K - though my margin requirement is about 4K. So the levereged return would be very high (not that I measure myself that way). This is with CMC, who tend to match their orders or increase the spread if the orderbook is thin (so I then use IG and Fins).
I'm quoted before they take my account number - so would I expect them to come back with a different quote should they want to cause me problems?
(not that I'm expecting to keep up this level of return, so I doubt this will become an issue)
Cheers,
UTB
PS - when I last compared Futuresbetting with CMC, CMC was cheaper overall (for me).
