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  • #301
  • Feb 9, 2018 6:14am Feb 9, 2018 6:14am
Quoting Spreadbetter
All that effort to say nothing. {quote}
Whoosh!

Inserted Video
  • #302
  • Feb 9, 2018 6:17am Feb 9, 2018 6:17am
Your third post, shilling for your sad industry. Life? Have one?

Quoting tradesimply
{quote} That is the most positive reply you have posted Spreadbetter! Why, indeed, would you care? All any of us want is to be happy, and your posts on this thread show that you are clearly not. "When the challenges of someone else's life have you tied in knots, it usually means it's time to start focusing on your own life." You obviously have a lot of bitterness and anger and I sincerely wish you all the best in working through your "stuff". There are lots of ways to calm the mind and explore your emotions, but yoga and meditation are great places...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #303
  • Feb 9, 2018 6:19am Feb 9, 2018 6:19am
Why does that that matter to you? I thought you were having it off; making five figure sums from your bedroom? Hey, wtf, if it keeps working then keep on doing.

Quoting tomorton
{quote} Do you mean you have no evidence to back up what you say, or you do have evidence but don't want to post it?
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #304
  • Feb 9, 2018 6:31am Feb 9, 2018 6:31am
It’s hilarious reading these addicts lamely defending spread-betting, whilst extolling the virtues of using crooked bucket shops to trade FX. It proves all the points I’ve made so far; gambling addicts, fantasists, liars, industry shills, sad, pot-less, amateur marketeers, all lining up to deliver their pathetic, weak arguments, desperately trying to justify their losses and failures, to themselves and probably to their wives.

Once you’ve reached the stage that your self delusion causes you to lie on forums about your gambling, then it’s time to stop. Which once again brings me back to the leverage issue, which is the least of these whoppers’ problems. These fools need to be priced out of the casino, for their own good.

Quoting goose4
{quote} Good post. Yeah they just like a bookie high street like William Hill. The house has the edge. The game is designed for you to lose.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #305
  • Feb 9, 2018 6:37am Feb 9, 2018 6:37am
Is there any decision made already about new regulations?

It looks like there is a bunch of amateurs working at ESMA, when you see what they are discussing about.
If they want to do something, they can cap the leverage to 1:50 but anything else would be contraproductive.

No one is forced to invest money to cfd or forex, so why are they trying to "protect" people.

I guess there are new guys that want to be bribed by the industry, and nothing else!
  • #306
  • Feb 9, 2018 6:50am Feb 9, 2018 6:50am
Quoting Spreadbetter
Why does that that matter to you? I thought you were having it off; making five figure sums from your bedroom? Hey, wtf, if it keeps working then keep on doing. {quote}

You ask why it matters, but I already said I don't wan to trade with a firm that is eventually going to fleece me. I'd rather get out before then. But though you're vehement that I should get out, you can't tell me why, or how you know this, or whether something similar happened to you, or to someone you know, or you read it somewhere reliable, or you were told this face to face by someone reliable.

Whereas you started this argument that SB was evil and a scam (and you may be right in the long run for all I know) it seems you can't or won't back up what you say.

So if you think that SB firms are a bad thing for misleading their customers with great promises which they then can't back up, why don't you think its a bad thing when you make great promises but you can't back them up either?

Very honestly, if you can show me I'm probably going to be cheated by an SB firm, I'd love to know how and which one. If its the firm I use, I'll be out of there like a shot. But so far you've given up nothing to go on.
  • #307
  • Feb 9, 2018 6:55am Feb 9, 2018 6:55am
Quoting TheCrusade
Is there any decision made already about new regulations? It looks like there is a bunch of amateurs working at ESMA, when you see what they are discussing about. If they want to do something, they can cap the leverage to 1:50 but anything else would be contraproductive. No one is forced to invest money to cfd or forex, so why are they trying to "protect" people. I guess there are new guys that want to be bribed by the industry, and nothing else!

Apparently there was "unprecedented" response to the consultation, 98% of the 14,605 replies were negative and 57% of respondents said they would re-locate their trading to firms based outside the EU if this BS goes ahead. Going outside the EU is a horrible idea.
  • #308
  • Feb 9, 2018 7:30am Feb 9, 2018 7:30am
Argument? Where? Your money, your issue, your life, you’re protected from losing your funds in the U.K. (up to a limit) and you’re one of the rare select breed; the 0.1% making a living out of spread betting. It it’s not broken why fix it? Knock yourself out....

Quoting tomorton
{quote} You ask why it matters, but I already said I don't wan to trade with a firm that is eventually going to fleece me. I'd rather get out before then. But though you're vehement that I should get out, you can't tell me why, or how you know this, or whether something similar happened to you, or to someone you know, or you read it somewhere reliable, or you were told this face to face by someone reliable. Whereas you started this argument that SB was evil and a scam (and you may be right in the long run for all I know) it seems you can't or won't...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #309
  • Feb 9, 2018 8:14am Feb 9, 2018 8:14am
Quoting Spreadbetter
Argument? Where? Your money, your issue, your life, you’re protected from losing your funds in the U.K. (up to a limit) and you’re one of the rare select breed; the 0.1% making a living out of spread betting. It it’s not broken why fix it? Knock yourself out.... {quote}

Yes argument. This is your argument. Its your argument that "The USA took steps to limit risk and leverage, Europe will follow suit and no amount of bleating to your broker will stop it and tbh I’ll be happy to see the back of the likes of IG, PLUS500, CMC etc.". You must remember these words as you typed them on this thread.

I've never said you're wrong, only that my experience doesn't support what you assert and I've asked you to show me you're right. I've given you my word I will stop SB and get out of it if you can show me you're right and that I am going to get cheated. But you won't do it. Why not?
  • #310
  • Feb 9, 2018 8:32am Feb 9, 2018 8:32am
Quoting tomorton
{quote} Apparently there was "unprecedented" response to the consultation, 98% of the 14,605 replies were negative and 57% of respondents said they would re-locate their trading to firms based outside the EU if this BS goes ahead. Going outside the EU is a horrible idea.
Oh, so if my broker is from GB this wouldnt effect me?
My quick google search about this had a few texts where it said ESMA would be resposible for "Europe" .. a bit irritating.

So if its just the EU a broker in GB should be fine after brexit?!
  • #311
  • Feb 9, 2018 8:44am Feb 9, 2018 8:44am
Quoting TheCrusade
{quote} Oh, so if my broker is from GB this wouldnt effect me? My quick google search about this had a few texts where it said ESMA would be resposible for "Europe" .. a bit irritating. So if its just the EU a broker in GB should be fine after brexit?!

That might be wishful thinking. FCA told me that they await the ESMA decision post-consultation and they will then follow what ESMA say. That's very possibly going to be before Brexit: having got some new regulations in place, FCA may find no justification to lift them after Brexit.
  • #312
  • Feb 9, 2018 8:51am Feb 9, 2018 8:51am
Quoting Spreadbetter
It’s hilarious reading these addicts lamely defending spread-betting, whilst extolling the virtues of using crooked bucket shops to trade FX. It proves all the points I’ve made so far; gambling addicts, fantasists, liars, industry shills, sad, pot-less, amateur marketeers, all lining up to deliver their pathetic, weak arguments, desperately trying to justify their losses and failures, to themselves and probably to their wives. Once you’ve reached the stage that your self delusion causes you to lie on forums about your gambling, then it’s time to...
It's absolutely amazing to me that they are begging the ESMA to keep the one thing that destroys them: insanely high leverage.
  • #313
  • Feb 9, 2018 9:04am Feb 9, 2018 9:04am
Quoting Mingary
{quote} It's absolutely amazing to me that they are begging the ESMA to keep the one thing that destroys them: insanely high leverage.

Its true that the inexperienced and unskilled new trader can easily get caught out by high leverage. The firms could do a better job of educating new traders and I said as much in my response to ESMA.

But after all, leverage is only like the accelerator on a car - nobody's forced to put it to the floor as they leave their driveway.
  • #314
  • Feb 9, 2018 12:33pm Feb 9, 2018 12:33pm
Quoting Spreadbetter
Your third post, shilling for your sad industry. Life? Have one? {quote}
Haha, I think they would have employed someone a little more eloquent! Also, the brief would surely have gone along the lines of "for goodness sake don't alienate any potential clients with any hippy stuff".

Or maybe it's a double-bluff?

Anyway, in answer to a previous question of where all the successful traders are, I'm sure they have better things to do with their time than get embroiled in a pissing contest with toxic malcontents.

As have I.

So, on that note, to all reading this thread, I wish you all the very best, wherever you are in your trading journey.

Love and light

Jay
  • #315
  • Feb 9, 2018 1:02pm Feb 9, 2018 1:02pm
“Where all the successful traders are?” Not in FX retail where, according the USA data, 95% of traders fail, which is why the USA authorities took the right option which Europe is following; to reduce leverage and drive idiots and charlatans out of a business they should have no business being in. Sleep tight, keep on fooling yourself kidda, keep dreaming.

Quoting tradesimply
{quote} Haha, I think they would have employed someone a little more eloquent! Also, the brief would surely have gone along the lines of "for goodness sake don't alienate any potential clients with any hippy stuff". Or maybe it's a double-bluff? Anyway, in answer to a previous question of where all the successful traders are, I'm sure they have better things to do with their time than get embroiled in a pissing contest with toxic malcontents. As have I. So, on that note, to all reading this thread, I wish you all the very best, wherever...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #316
  • Feb 9, 2018 1:13pm Feb 9, 2018 1:13pm
Sadly this is the nature of trading forums, I hadn’t looked in here for ages, hadn’t posted in years, gave up my original membership and then rejoined in 2012. Gave up on it again as I became alarmed by the armies of chancers, charlatans and frauds trying to peddle their wares, or use sophist nonsense to try and gain an audience, to peel off members to join their lame services.

Nothing has changed, every theme gets derailed, still only a handful of guys who are clued up, who actually get it, the rest of these discussions are just pointless.

There’s been hundreds of thousands of irrelevant posts made over the years, just think of all that wasted hot air and effort, possibly 95% of the posts have been: incomprehensible, delusional, babble and there’s still only a handful of guys on FF who take cash out of the market regularly, who’ve figured it out, mostly because they’ve worked the other side of the bets, or have an institutional trading background.

On reflection, trading forums’ primary function should be to serve as: depressing, anthropological studies of: denial, greed, fantasy, fear, male bravado and pathological lies.


Quoting Mingary
{quote} It's absolutely amazing to me that they are begging the ESMA to keep the one thing that destroys them: insanely high leverage.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #317
  • Edited 8:12am Feb 10, 2018 6:17am | Edited 8:12am
What's a forum for? Exchange of opinion or exchange of information?

The thread to this point is notable for the exchange of opinion from those who distrust private retail FX trading, and information between those likely to be affected by the ESMA proposals if enacted, because we use it.

Simply posting opinion is a nice pastime but isn't likely to cause anyone to change their own personal positions on an issue. Posting information however is much more valuable as it could - MUST - cause anyone with a brain to review their current position in the light of the new evidence now brought to the light.

So, another plea from me -
Would anyone with direct personal experience of being scammed by a UK-based spreadbetting company please post the details here.
  • #318
  • Feb 11, 2018 8:41am Feb 11, 2018 8:41am
Quoting tomorton
What's a forum for? Exchange of opinion or exchange of information? The thread to this point is notable for the exchange of opinion from those who distrust private retail FX trading, and information between those likely to be affected by the ESMA proposals if enacted, because we use it. Simply posting opinion is a nice pastime but isn't likely to cause anyone to change their own personal positions on an issue. Posting information however is much more valuable as it could - MUST - cause anyone with a brain to review their current position in the...

One day in, no replies.

Still interested, so the request still stands - post details here if you've been scammed by a UK-based SB firm.
  • #319
  • Feb 11, 2018 1:08pm Feb 11, 2018 1:08pm
Interesting that in Germany, lottery is mostly state owned, and they will happily encourage the population to buy lottery tickets, flooding the country with publicity adds...
(Guess everybody here, already knows lottery is a guarnteed loosing game.)
Once I read, there´s a higher probability of being hit by lightning in a bathtub , than winning the Christmas pot.
  • #320
  • Feb 11, 2018 1:16pm Feb 11, 2018 1:16pm
Quoting tomorton
{quote} One day in, no replies. Still interested, so the request still stands - post details here if you've been scammed by a UK-based SB firm.
Yep, Tom. Finspreads, back in the day used to reguarly slip me, and shade prices. I couldn't trade for toffee then either, doubly insulting.

It is right you should never trade size on any dealing desk account where they make the market.

FXCM have a Currenex option for over £20k, can be spreadbet if you want. It's STP but not truly transparent; you never get to see the counterparty. I had an old FXCM sandpit account recently used to dupe a main trade account (STP, non spreadbet not that it matters). Execution is OK but nothing to write home about. No price shading and freezing rarely seems to happen any more, but watch out for slippage especially on market orders. saw that FXCM were caught out for holding onto positive slippage but the FCA at least caught up with them.

IB is the go to retail platform, but the actual trading software and the way they handle base currencies was (and I presume still is) a headache. execution in *normal* conditions was great, even trading inside the spread. client base was something like 40% success rate for FX so much more sophisticated clients. However grass isn't always greener, I heard of some truly shocking fills as in hundreds of pips away from market rate. Limit orders only ideally. Obv depends on size.

I use a.n.other for main trading but not prepared to cheerlead any brokerage.

Caveat emptor, just keep up the good returns
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