LORD JAMLA
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For all those that day trade the e-mini S&P 500 with a ladder (where you can see the bids and offers) , you must have realised now how some market participants have an unfair advantage over the rest. I'm mainly referring to the two spoofers (the 500 lot and the 2000 lot), who are there everyday and seem to push around the market. Now, I'm not one to complain about spoofing I mean hey it happens in every market, but these two S&P spoofers CANNOT BE HIT. I've tried many times gentlemen and they simply can't. Hence, they contravene the rules, as per CME themselves and should be eliminated from the market.
I've spoken to CME about this and they simply refuse to accept that it is going on, even though you only need to watch the ladder at any time during the day to see that it is. It's a clear example of letting the big guys get away wth blue murder at the expense of the small guys. I mean if you tried doing what they were doing with a 10 lot, CME would be all over you like a cold rash. Spoofing is fair enough but only at the expense of getting hit. I mean if I had the software to put 2,000 on the bit and never get hit, every time i wanted to sell at the offer I'd do it and we all would, and the market would become a farce.
I may sound bitter but I actually make money off these guys as I can see what they are doing and when its with the line of my own thinking i go along for the ride. But when they are wrong it angers me that they disturb the momentum of the tide against them, with no risk of being hit. I mean I'd love to smack their bids when they are trying to hold the market up when im short, but i just end up on the offer showing my hand. I do in excess of 50,000 round turns per month so if they are enough people who agree with what i say maybe we can boycott the exchange for a day to show them that we aren't prepared to put with this. If we can get 100 traders of my size to not trade for a day that's half a million round turns they are missing out on (or circa £500,000).
I'm half thinking of asking CME directly how I can get the equivalent software which allows you to spoof without being hit, because I do a fair volume myself, but I feel it would be wrong. THE MARKETS SHOULD BE ON A LEVEL PLAYING FIELD FOR ALL.
I've spoken to CME about this and they simply refuse to accept that it is going on, even though you only need to watch the ladder at any time during the day to see that it is. It's a clear example of letting the big guys get away wth blue murder at the expense of the small guys. I mean if you tried doing what they were doing with a 10 lot, CME would be all over you like a cold rash. Spoofing is fair enough but only at the expense of getting hit. I mean if I had the software to put 2,000 on the bit and never get hit, every time i wanted to sell at the offer I'd do it and we all would, and the market would become a farce.
I may sound bitter but I actually make money off these guys as I can see what they are doing and when its with the line of my own thinking i go along for the ride. But when they are wrong it angers me that they disturb the momentum of the tide against them, with no risk of being hit. I mean I'd love to smack their bids when they are trying to hold the market up when im short, but i just end up on the offer showing my hand. I do in excess of 50,000 round turns per month so if they are enough people who agree with what i say maybe we can boycott the exchange for a day to show them that we aren't prepared to put with this. If we can get 100 traders of my size to not trade for a day that's half a million round turns they are missing out on (or circa £500,000).
I'm half thinking of asking CME directly how I can get the equivalent software which allows you to spoof without being hit, because I do a fair volume myself, but I feel it would be wrong. THE MARKETS SHOULD BE ON A LEVEL PLAYING FIELD FOR ALL.
