Spreadbetting Companies Want YOU to Lose? Any Thoughts - You Tube Video Link

[tomorton]

To use SLs or not is the trader's right, you can't force clients not to use them.

Of course the SB firms would love clients not to use Stops so that client losses would be even greater and more easy money for them.

Why not stop trading with SBs altogether, that would be the best thing " to do about it ". I have.



Again it is not for anyone to direct how SLs are placed, it's an individual choice but certainly clients should know about the SBs practice of stop hunting.

Why are against that ? Sounds like you may have suffered great losses at the hands of the SBs

So what are you saying?

Don't use SL's so that SB firms can't see them and hunt them?

I have never suffered from SL hunting, I don't believe it exists.

 

[tomorton]

Wisefool has answered most of your queries, so I will take this one.

The reason why people continue to trade with SBs is because they do not know that playing against a market maker is essentially the same as going into a casino. There is always a new sucker coming along.

Secondly, there is no incentive to warn new comers that the dice is heavily loaded against their winning for any meaningful duration.

On the contrary, SBs do employ affiliates to seduce new traders to part with their money

There is very little by way of information, that SBs do use ( as Wisefool says ), nefarious means such as stop hunting, to ensure that the trader loses one way or the other.

If you trade long-term you cannot be cheated out of your money by stop-hunting, even if it exists, which I don't believe it does. If you trade short-term, intra-day, unless out are a brilliant trader you are a greedy self-deluded idiot and you will lose your money, whether you are stop-hunted or not.

 

[wisefoolx]

So what are you saying?

Don't use SL's so that SB firms can't see them and hunt them?

I have never suffered from SL hunting, I don't believe it exists.

Suggest you re-read my posts as I am very clear on my stance viz stop hunting.

That's one way of avoiding it though I wouldn't advise it myself.

Are you sure ? You may not have realised you've been stop hunted, also it has been demonstrated very clearly how SBs can benefit tremendously from stop hunting. Given that they bet against you for their living, rest assured they will be using every legal trick in the book against you.

Best thing is to stop trading with them and go with a real broker, end of.

 

[darktone]

Theres some right old misinformation in this thread.

AFAIK and in my experience.

There is you / your broker / their liquidity provider. You as the client are trading their price.
The broker has the option to take the other side of your bet or pass it to the LP, earning a % of spread. They divide you into two groups, 'A book' and 'B book'.
'A book' are the legit winners or folks who trade so big they could hurt the broker.
'B book' are the losers.
The broker will make the B traders comfortable while they lose, lessen slippage / listen to the whining / amend tardes etc etc. The A traders get more realistic slippage, reprimanded for taking any advantage of pricing etc.

Put yourself in the role of the broker:-
Marty Schwartz has just been on the phone looking to open up an account with you, you know hes a big dog consistent legit winner.
You dont wanna take the other side of him cos hes the nuts.
You dont wanna give his flow to your LP cos hes big enough to pizz them off.

So what you gonna do with Marty? :whistling

------------------------

For anyone whos interesed, Other side of the screen is worth a read. Its one of the better threads on T2W about how they see you, aligns with my experiences also :cheesy:.
The bottom line is they dont need to cheat you. They wont tolerate for long winners who are only winners for taking the pizz with their pricing (B book pricing / latency etc).

Most folks who whine about SBs and Brokers are doing so because its the easy option, and its a distraction from the real problem, which is theyre kinda cr@p at trading

 

[EnlightenedJoe]

'B book' are the losers.

Maybe I have underestimated you. Admitting to lose is the first step to win. Perhaps there is hope for math teachers after all.

 

[foroom lluzers]

Maybe I have underestimated you. Admitting to lose is the first step to win. Perhaps there is hope for math teachers after all.

He and others are stooges , they get paid for misinformation.

 

[EnlightenedJoe]

He and others are stooges , they get paid for misinformation.

No, he's a looser. But, you are a stooge.

 

[EnlightenedJoe]

So what you gonna do with Marty?

Jesse Livermore thought he was big too, but the big boys took everything he's got.

If I was the bookie, and Marty is giving this wink, I'd ring up my bank chum and feed him to them for breakfast while I take a commission.

 

[foroom lluzers]

No, he's a looser. But, you are a stooge.

There he is giving misinformation about emotions , he is a stooge .Funny thing he diverted attention from emotions , nobody else posted any sense after that , this is how stooges work.

http://www.trade2win.com/boards/psy...tion-when-you-win-lose-trade.html#post2394250

 

[EnlightenedJoe]

There he is giving misinformation about emotions , he is a stooge .Funny thing he diverted attention from emotions , nobody else posted any sense after that , this is how stooges work.

http://www.trade2win.com/boards/psy...tion-when-you-win-lose-trade.html#post2394250

He's right and you are wrong. Therefore you are the stooge. Emotion is what clueless people feel. For people in the know, there is only economics.

 

[tokyojoe]

Easy way to see if you've been spiked, stop hunted or cheated, take a few screen shots of your SB price at any given point in the day of your open position, then at the end of the day simply check the average open market price (using advfn or similar) The answer is there to see for yourself !

SB 5 min price print does closely follow the dm price to be fair, but close stops will be taken by the SB without hesitation.

ps I don't advise advertising where your pain barrier is !

 

[EnlightenedJoe]

ps I don't advise advertising where your pain barrier is !

Advertising or not makes no difference. Your stop is where they educated you to place.

 

[tomorton]

Easy way to see if you've been spiked, stop hunted or cheated, take a few screen shots of your SB price at any given point in the day of your open position, then at the end of the day simply check the average open market price (using advfn or similar) The answer is there to see for yourself !

SB 5 min price print does closely follow the dm price to be fair, but close stops will be taken by the SB without hesitation.

ps I don't advise advertising where your pain barrier is !

You're totally right about close stops. SB spreads are more unpredictable than underlying markets, plus spread adjustment doesn't show on a chart.

Its a poor trader who puts his stop where its likely to get unintentionally hit. But a set stop is always better than a mental stop.

 

[foroom lluzers]

Easy way to see if you've been spiked, stop hunted or cheated, take a few screen shots of your SB price at any given point in the day of your open position, then at the end of the day simply check the average open market price (using advfn or similar) The answer is there to see for yourself !

SB 5 min price print does closely follow the dm price to be fair, but close stops will be taken by the SB without hesitation.

ps I don't advise advertising where your pain barrier is !

Learn to trade options like here , at I G .They will never take your stops , keep away from tight-stop stooges , they are brainwashing new traders on forums.Never use stops.

 

[tokyojoe]

Advertising or not make no difference. Your stop is where they educated you to place.

Agreed, they know where you are, or are likely to be, but I still don't advertise

 

[EnlightenedJoe]

Agreed, they know where you are, or are likely to be, but I still don't advertise

That's like a 3 year old child covering his eyes thinking nobody could see him. That's cute for sure but not very useful.

 

[tokyojoe]

You're totally right about close stops. SB spreads are more unpredictable than underlying markets, plus spread adjustment doesn't show on a chart.

Its a poor trader who puts his stop where its likely to get unintentionally hit. But a set stop is always better than a mental stop.

Hello Tomo, long time no speak, hope all going well. The set stop does depend on a persons style (set forget etc) I don't use them due to being one of these day thingy wack jobs !

 

[foroom lluzers]

Agreed, they know where you are, or are likely to be, but I still don't advertise

Then he is at risk of moving them and emotions .

 

[tokyojoe]

That's like a 3 year old child covering his eyes thinking nobody could see him. That's cute for sure but not very useful.

Well more like a 5 year old in my case.

 

[EnlightenedJoe]

Well more like a 5 year old in my case.

Imagine that, a fully grown adult does it too !