Predictive software

trendie

Legendary member
6,732 1,297
Trader333 said:
To take the view that true traders will never consider other forms of income has never made sense to me and especially with the possible EU threat of banning direct access trading which is still a real possibility.
Paul

WHAT !! :eek:
Please point to the news article link or legislation document link for this.
This is totally new to me.

Is this some sort of Halloween prank ? Cyber-eggs coming your way.
 

Hittfeld

Well-known member
437 12
>>If we work it out then a one day seminar at maybe £200 per person and 30 attendees gives a nice £6000 payday<<

I used to be a management trainer / lecturer / keypoint speaker in my previous life. To me the math looks different: You have to cover adds, overhead, room, lunch for the bunch.... . A good trainer/coach/lecturer would receive £ 1.000.00 for the day. But due to preps, travelling, mindset etc he won``t trade the day before and after. So its just £ 333 per day as compensation for missing the very best 3 days of the whole year with that lovely saecular rally. So no risk involved??

Regards

Hittfeld
 

Trader333

Moderator
8,646 977
Trendie,

There have been threads on this whole issue on the boards somewhere from over a year ago and it has been discussed at length although I cannot find the link right now. I remember that the EU were giving it around two years before making it law and we even lobbied our Euro MPs from this site to try and change it but we failed to get the amendament we wanted.


Hittfield,

I should have said turnover, but even so I am stunned at how much you were not making. Prior to trading I also gave seminars on a number of different topics and the costs were much less than you have indicated but this may be down to a number of factors including how many services you contracted out.

That said it was only an example and if you look at the likes of VS who has charged £3000 with 150 delegates at a time then you can see how much can be made.


Paul
 

trendie

Legendary member
6,732 1,297
Trader333,

Thanks for your reply.
I only joined Jan this year, so I was more focussed about learning methodologies.
Thats why I missed that thread.
 

JTrader

Guest
5,741 506
EU ban on direct access trading

Hi Paul

To take the view that true traders will never consider other forms of income has never made sense to me and especially with the possible EU threat of banning direct access trading which is still a real possibility. After all what are professional day-traders to do if this does become law and no other income streams have been developed ?


Paul

There have been threads on this whole issue on the boards somewhere from over a year ago and it has been discussed at length although I cannot find the link right now. I remember that the EU were giving it around two years before making it law and we even lobbied our Euro MPs from this site to try and change it but we failed to get the amendament we wanted


why are the EU looking to ban direct access trading? and is this ban just for individual investors?

Is it just so day-traders will be forced out into the world to do "real" jobs? :(

What types of direct access trading would this outlaw? - Would it include - all direct access stock trading?
and what about CME Globex futures - forex and eminis? CBOT minisized dow amd other types of exchange based futures? - and - Interbank forex? - as when you trade these you are effectively trading by DMA on the "exchange" in question?

I knew nothing about this. I do hope that I'm not being told that my chosen means to earn a living is to be made off-limits :cry: .

Cheers

jtrader.
 
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JTrader

Guest
5,741 506
EU ban on execution only stockbrokers?

http://www.trade2win.com/boards/showthread.php?t=5486

Hi

I've just read through the above thread and notice that it is predominantly referring to "execution only stock-brokers." - Is this the same EU ban on Direct access trading that is a threat?

The last post was over 17 months ago. How have things progressed since then?

Many thanks

jtrader.
 

Trader333

Moderator
8,646 977
James,

Direct Access is "Execution Only Trading". For day-traders this would kill any advantage that the instant placing of trades gives and based on this would make it almost impossible to make money intraday in my view.

The reasons are pathetic and all stem from people who lost money in the technology boom and bust market where they claimed they didnt understand the fact that they may lose money as well as make it.

The next thing the EU will be legislating on will be betting on horses and making sure that you realise that you may lose money in the event that your horse does not win the race.

After that the EU will probably legislate on crossing the road and we will find newly appointed "Highway Safety Officers" who will be responsible for making sure that you realise that when crossing the road you may get run over if you do so when a car is travelling along it at the same time. We will be required to sign a declaration saying that we understand the risks of crossing the road but that we still wish to do so. Hopefully with improvements in bureaucratic efficiency the whole activity of crossing a road may be reduced to only be a 15 minute process from the expected 25 minute process when it is first introduced.


Paul
 

LION63

Established member
746 33
Trader333,

Thank you for the information that you have shared with us regarding the EU legislation; could you kindly tell me if it will affect the customers of companies like Comdirect and TD Waterhouse? Secondly, I wonder if you know if it will affect those that use the spread betting companies? Or are we safe until they decide to legislate on horse racing (as you have joked) and/or casinos?

Many thanks.
 

Trader333

Moderator
8,646 977
LION63,

I am unsure about the two companies that you have mentioned but "If" they are direct access or execution only then they will be affected in the same way.

I dont believe that SB companies will be affected in the same way because a "Bet" is not classed the same as a direct access, or execution only, trade.

I guess if it all happens I will have to become a position trader which will be a whole new arena for me.


Paul
 

jcaston

Newbie
4 0
Hi,

Has anyone had or know of anyone who has used the Ocean Theory software by Jim Sloman (of Delta fame).
 

chump

Senior member
2,212 274
If this becomes legislation it does not take much imagination to see what comes next...offshore direct access booms , but the potential pitfalls of dealing with unregulated ,dishonest brokers offshore are obvious....hold on moment ...unregulated, dishonest brokers offshore...regulated ,dishonest brokers onshore..may be the pitfalls are not as huge as they might first appear ;)


"Ocean Theory software "...afraid the verdicts TIDE on that one....
 

JTrader

Guest
5,741 506
Trader333
We will be required to sign a declaration saying that we understand the risks of crossing the road but that we still wish to do so.

I wonder how likely it is that the EU will just make execution only account holders FULLY UNDERSTAND the implications of opening execution only accounts - by signing such disclaimers - as opposed to banning such accounts altogether?

As the letter on the other thread from Chris Heaton-Harris MEP indicates, a blanket ban on "This would mean, that confident and knowledgeable investors would no longer be able to take their own investment decisions based on published information. They would instead be forced to pay for advice they do not want. I believe that non-advice services are already sufficiently regulated using contract law, conduct of business rules, product regulation, regulation of produce promotional and explanatory literature and money laundering rules. "

Does the proposed bans apply to just accounts held with companies within the EU? And so would we be able to trade with US based IB or tradestation securities from the UK?

Does anyone know if the proposed ban applies to CME + CBOT futures for example, Interbank forex or just stocks?

Whats the latest?

Cheers

jtrader.
 

Zenda

Well-known member
491 10
options said:
How wonderful to have a programme running that takes the decisions for you and is never wrong. There are some gold plated claims out there. Yet with all the brilliant software, there is not one company that will offer you a cast iron pledge that if the software doesn't work they will give you your money back along with your losses that the software made for you.
Options

mmm, don't really think so ;)
 

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