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

[tomorton]

PS, though it hardly needs saying, I have no relationship with the SB industry.

I just cash the cheques.

No, no - just joking. Seriously, I have no relationship with the SB industry.

 

[EnlightenedJoe]

Its not just the SB firms who advise using stops

If people lose money because of SB advise, then SB is responsible. That is the original argument.

 

[wisefoolx]

I'm very happy to try to help new traders. .

Aren't we being a bit pressumptious ?

 

[foroom lluzers]

I'm very happy to try to help new traders.

Me too I help new traders , ask them to pay option premiums to sb co, in place of stops.

 

[EnlightenedJoe]

PS, though it hardly needs saying, I have no relationship with the SB industry.

I just cash the cheques.

No, no - just joking. Seriously, I have no relationship with the SB industry.

It'd be more convincing if you can prove you can trade. Stooges usually can't trade. If you can then that largely eliminates you as a suspect stooge.

 

[tomorton]

Hmmm. He recommends either the 2% rule or using support/resistance or ATR. Almost everyone who recommends stops would consider these to be a conventional approach, not especially dangerous for any trader.

Its obvious that when a stop-loss gets hit, a loss is crystallised. But its delusional to think that by not having a stop you won't have a loss. If you don't use stops, you have to have some other strategy in place to manage risk. But for everyone new to trading, and for most experienced traders, a set stop-loss is the way to go.

 

[foroom lluzers]

It'd be more convincing if you can prove you can trade. Stooges usually can't trade. If you can then that largely eliminates you as a suspect stooge.

He does not work for Barjon or S B companies , he trades.

 

[tomorton]

If people lose money because of SB advise, then SB is responsible. That is the original argument.

They lose money because they don't know how to trade. In spite of all the advice and information that's available.

 

[tomorton]

Aren't we being a bit pressumptious ?

Well, I did say "try".

 

[EnlightenedJoe]

Hmmm. He recommends either the 2% rule or using support/resistance or ATR. Almost everyone who recommends stops would consider these to be a conventional approach, not especially dangerous for any trader.

Its obvious that when a stop-loss gets hit, a loss is crystallised. But its delusional to think that by not having a stop you won't have a loss. If you don't use stops, you have to have some other strategy in place to manage risk. But for everyone new to trading, and for most experienced traders, a set stop-loss is the way to go.

So if I follow their advice and I lose, they are still not responsible ?

 

[EnlightenedJoe]

They lose money because they don't know how to trade. In spite of all the advice and information that's available.

They lose because they are given bad advice. The advice giver is therefore responsible.

 

[parthaab]

parthaab specifically mentioned stop-hunting but he suggested other nefarious means aimed at making a client lose trades. Hard to be absolutely certain what he means but if he comes back with some evidence we'd all be a bit wiser.

You may be mistaken. This was the reply: "As a senior writer, you should have known that market makers make up their own prices as they go along, suspending trading when it does nt suit them, or various other techniques mentioned in several posts, to track and destroy any trader who does turn out to be successful."

Also, Enlightened Joe had asked a straightforward question: "Which FCA condition is violated by a market making firm changing the price ? "
Would you care to answer that one?

Please spare a thought for the innocence of the new traders, instead of lumping them together as 'loosers'. It would be appreciated if senior writers could stop generalisations (" all traders lose money"), and talk about more specific issues that really matter ( "market makers are in the business to make money from you, hook or by crook' , and that is why the 10% traders who could otherwise be successful also lose their shirt ) - insights that are really useful.

Even without the dangers of being misled by misleading advise /technicals / rumours, etc., the average traders is already being ripped off systematically by SBs that cares two hoots, and is far more powerful than your average SB trader. And probably owns the corrupt politicians making the laws governing them too.

The difference between trading and gambling, in essence, seems to be that in trading, there is a 'victim' - an entity whose existence is sought to be denied by some.

 

[foroom lluzers]

They lose because they are given bad advice. The advice giver is therefore responsible.

The stooge only writes positive about spreadbetting , merchants , brokers , books ,authors and trading .

 

[wisefoolx]

The stooge only writes positive about spreadbetting , merchants , brokers , books ,authors and trading .

LOL :clap:

 

[wisefoolx]

Stop-hunting is illegal: an SB book that tracks the market to trigger a stupidly placed stop is just part of life's rich tapestry.

It is NOT illegal. To say otherwise is a plain untruth, get it straight.

 

[wisefoolx]

parthaab specifically mentioned stop-hunting but he suggested other nefarious means aimed at making a client lose trades. Hard to be absolutely certain what he means but if he comes back with some evidence we'd all be a bit wiser.

Stop hunting is what you call a legally fixed market, what part of that don't you get?

 

[foroom lluzers]

Stop hunting is what you call a legally fixed market, what part of that don't you get?

cheques might stop if he agrees to that.

 

[wisefoolx]

At least you don't suggest my SB firm is paying me money to defend the SB sector.

In fact, SB has obvious limitations. Its widely accepted that its virtually impossible to make money from scalping and very short-term intra-day trading through SB - I don't trade intra-day.

But for any new traders out there trying to break through into profitability through day-trading via a SB company - my advice is forget it, just give your capital to a registered charity.

I go one further - forget the SBs altogether and just use a real broker like I do.

 

[wisefoolx]

Have you considered the possibility that some of them may have traded futures but prefer the OTC for their style of trading?

And what style would that be ?

Also if you go with the SBs then you must accept the market they make are heavily biased in their favour. This is the name of the game.

 

[darktone]

And what style would that be ?

Also if you go with the SBs then you must accept the market they make are heavily biased in their favour. This is the name of the game.

Do you use stops?