who spreadbets at £100 per point ?

[bermudaboy]

Hi ,looking forward ,does anyone on here trade reguarly at £100 per point on dow/dax spreadbetting at least and has no problems getting the orders filled/executed.
If so what broker ? and any problems the higher amount you go.
thanks

 

[tomorton]

Is this a serious question? If it is, then you have my respect but can I ask how you got to this level - and how you stay there?

Of course, on a less serious note there are plenty of people on the internet who trade at £100 a point. They're usually guys, usually about 21, usually sitting on the bonnet of a supercar which is usually parked on or overlooking a beach. Sometimes they have wads of cash in their hands. Like trading is a cash business....

 

[0FXTrader0]

Your fills will be dependant on you being a B book client i.e a loser in which case will get good fills if your an A book client winner you will be filled according to market conditions in the underlying

 

[bermudaboy]

Your fills will be dependant on you being a B book client i.e a loser in which case will get good fills if your an A book client winner you will be filled according to market conditions in the underlying

Thanks so it is still possible to get filled when using £100 point near to execution price and the broker wont mess you about.Have you or anyone you know had experience.Thanks in advance.

 

[peto]

CMC Spreadbet have a 1.6 spread on the dow during normal US hours,up to around £40 per point, after which they increase the spread according to a table they publish.

 

[0FXTrader0]

In EURUSD the market can handle £100 per point 11,633,752 notional without a problem so the spread bet provider will only slip you according to market conditions so very infrequently I would suggest spread betting is not the right product if worried about slippage and transaction costs as futures and CFDs are cheaper commision based trades

 

[bermudaboy]

Is this a serious question? If it is, then you have my respect but can I ask how you got to this level - and how you stay there?

Of course, on a less serious note there are plenty of people on the internet who trade at £100 a point. They're usually guys, usually about 21, usually sitting on the bonnet of a supercar which is usually parked on or overlooking a beach. Sometimes they have wads of cash in their hands. Like trading is a cash business....

Yes it is a valid question.Ive been studying markets on and off for about 10 years but for the last 3 been perfecting and tweeking my system and for last 14 months have consistantly achieved over 200pts trading dax and dow with very selective trades ,about 10-15 trades a month with drawdown obviously about 50 points max most months but some months less.My stop loss per trade is 25 .I have increased my £ per point as account grows and was looking to future to see what my potential could be and if placing larger sums per point would become an issue.So that is the point of question to see if people have any experiences with what I consider larger sums per point.Thanks.

 

[bermudaboy]

CMC Spreadbet have a 1.6 spread on the dow during normal US hours,up to around £40 per point, after which they increase the spread according to a table they publish.

Thanks is it possible to get that table of increased spread.?

 

[peto]

Thanks is it possible to get that table of increased spread.?

Sorry I can't find a link to that, but from the platform at the moment I can see that During US market hours:

£500 per point , spread is 8
300 ........... 5
200 .... 4
150 .... 2.5
100 and under ...1.6

So there is no dealer intervention required as the spread becomes unmanageable at higher levels, so trades can take place in 100ms or so.
£3,300 per point is the max position size in total.

 

[bermudaboy]

Sorry I can't find a link to that, but from the platform at the moment I can see that During US market hours:

£500 per point , spread is 8
300 ........... 5
200 .... 4
150 .... 2.5
100 and under ...1.6

So there is no dealer intervention required as the spread becomes unmanageable at higher levels, so trades can take place in 100ms or so.
£3,300 per point is the max position size in total.

Thanks £500 per point and a spread of 8.Crikey that is big boys stuff.Who trades at these levels?

 

[Trader333]

Thanks £500 per point and a spread of 8.Crikey that is big boys stuff.Who trades at these levels?

No one, why would you pay £400 to place a trade ? Anyone who is looking to trade at that level will use DMA because, even accounting for tax liability, it would be more profitable to pay the tax than to have such a huge cost to place an individual trade. In the event that you lost money, you can offset the losses using DMA which you cannot do using spreadbetting.

 

[0FXTrader0]

Top of Book EURUSD 10.50am BST 01/07/21

As can see 30,000,000 (£200-£300 per point) will clear the book so would move the market a bit the spread bet provider would want to mark up the market impact that's why the widen their spreads at the larger sizes. When trading size you would access markets via prime brokerage and algos are deployed to slice and dice.

 

[peterpies]

Who would trade with broker who charges a 1.6 spread, let alone 8 pips.

There are much better brokers out there. You can even get DMA spread betters if you want.

I refute the 'tax is cheaper' argument. Assuming the trader is profitable, an 8 pip spread is cheaper than a 32%-52% tax. The problem with a an 8 pip spread is not the tax, it's just not workable in 99.99% of strategies.

 

[Trader333]

Assuming the trader is profitable, an 8 pip spread is cheaper than a 32%-52% tax.

It depends on how many trades you make and what the average profit in pips is per trade and also you are only taxed if profitable which most people are not and you cannot offset losses when spreadbetting which you can when using DMA. The only way I can see this working is if you are position trading. So as an example, if you placed a trade that lasted a week and made 100 pips profit then paying 8 pips is not so bad and would be tax efficient to use a sreadbet. If you are day-trading then it is a non starter as you have to make a minimum of 8 pips per trade just to break even and the more day-trades you take the worse it gets.

 

[lexcorp]

Why not trade futures?
I know people who daytrade 70 (SEVENTY!) ES contracts. Madness.
Not sure what the equivilent even is in terms of £ per point with a spreadbet broker- like £500 per point ish?


ps - to answer your question my dad used to trade about £100 per point with CMC. Don't think he had too many issues, although this was about 15 years back

 

[LuckyMac]

That amount is no problem but you need to risk 1% of your capital to trade properly.

 

[ffsear]

T&S on the Dow yesterday via IG filtered by 100+ , So only 4 orders filled.

If you're looking to get on size I'd suggest clips of 20 and scale in and out.

 

[ffsear]

Plenty of size going through on the ES though. This is why day traders prefer this market

 

[ffsear]

Why not trade futures?
I know people who daytrade 70 (SEVENTY!) ES contracts. Madness.
Not sure what the equivilent even is in terms of £ per point with a spreadbet broker- like £500 per point ish?

That's $3500 a point in S/B terms I believe.

 

[bermudaboy]

Why not trade futures?
I know people who daytrade 70 (SEVENTY!) ES contracts. Madness.
Not sure what the equivilent even is in terms of £ per point with a spreadbet broker- like £500 per point ish?


ps - to answer your question my dad used to trade about £100 per point with CMC. Don't think he had too many issues, although this was about 15 years back

If your dad had no problem at £100 that sounds good to me. If I did achieve this level and possibly even more per point maybe having more than one sb account and spread the amount ie £200/£300 around the accounts. How did your dad do with his trading over the years.?