Jump to content

Why on earth...


Recommended Posts

11 minutes ago, dmedin said:

Are you suggesting IG's web platform for spreadbetting is naff and not used by professionals to make real money dealing in real markets :D:D:D:D

no, it's fine for what the majority want it to do but if are looking to specialise in an unorthodox strategy there are many subscription platforms and high speed connections to consider.

  • Thought provoking 1
Link to comment
On 06/07/2020 at 13:18, larrytradingltd said:

Right I see what you're saying, so even though no stocks are being bought or sold, all the positions are being settled 'in house' as it were - ie you cant go long on something unless there are sufficient people going short purely with IG accounts. That makes sense. 

They would still make money from people losing though as I'm sure more money is lost than gained over time. I don't have a problem with their model at all, interesting how it all works. 

haha, interesting your take on Ross Cameron as well, very different to mine as you can probably imagine ;) 

Casey has no Idea what he's talking about.  


Gap and Go strategies are nothing different from any other trade.  Just smaller Timeframe.  Don't waste your breath trying to convince him.

He doesn't even use the retail platform.  If he trades at all it's Forex and Indicies on Mt4.  Dschenk didn't stick to the Gap and Go principles.  He often let his losers Run too far, but he consistently made profits.  However, his strategy wasn't something that I thought could work in the long run.  He would often risk 4-1, but his success was around 80%.  What this often meant was he would make 8 good trades and take £20 on each but then let the last 2 run against him to remove all the profits he made.  He seems to be doing OK now.  Maybe he'll pop back in to clear up Caseys remarks.

  • Like 2
  • Thought provoking 1
Link to comment
5 minutes ago, nit2wynit said:

Casey has no Idea what he's talking about.  


Gap and Go strategies are nothing different from any other trade.  Just smaller Timeframe.  Don't waste your breath trying to convince him.

He doesn't even use the retail platform.  If he trades at all it's Forex and Indicies on Mt4.  Dschenk didn't stick to the Gap and Go principles.  He often let his losers Run too far, but he consistently made profits.  However, his strategy wasn't something that I thought could work in the long run.  He would often risk 4-1, but his success was around 80%.  What this often meant was he would make 8 good trades and take £20 on each but then let the last 2 run against him to remove all the profits he made.  He seems to be doing OK now.  Maybe he'll pop back in to clear up Caseys remarks.

oh right, so what was your excuse then?

Link to comment
2 minutes ago, Caseynotes said:

oh right, so what was your excuse then?

...to add to that remark though, it's almost impossible to follow the Gap and Go strategy with a small account.  Even so, most of the small cap stocks are unavailable with Spread Betting. 

That's it really.  Not rocket science.  The limitations with IG and Spread Betting don't allow for larger success ratios using this strategy.

Using Trade Ideas to pick out moving stocks proves little reward as almost 80% of them arean't tradable.

Link to comment
On 04/07/2020 at 18:00, HappilyNorth said:

Perhaps someone from IG should come on this thread and explain exactly what happens on both sides of the market when retail place a SB/CFD order because the following doesn't answer in full.

Untitled.jpg

We don't go into the market and hedge everyone's positions but say 60% of clients are long and 40% are short we would hedge 20% long into the market. 

40% cover each other and then the rest we hedge. 

We do however ask clients that trade large sizes to use advanced options or to call us so we can get them the best prices for the size they're wanting to hedge.  @Caseynotes gives a great description: 

On 05/07/2020 at 09:53, Caseynotes said:

The business model is to match in-house shorts and longs as much as possible which is often matching A book to B book and IG takes the spread off both parties. Any over flow is parallel hedged which means IG taking the same position in the larger market, if you win so do they so they collect and pay you, if you lose so do they so they collect off you and pay whoever provided the hedge, but don't worry IG still turn a profit as they get far tighter spreads than they pass on to you.

 

Link to comment
5 minutes ago, CharlotteIG said:

There are some brokers out there that will not hedge the same way as clients and win when clients lose however IG are not one of them. We want our clients to win so they will continue to keep trading with us. 

It's worth pointing out again that brokers who do take on the trade are also taking on risk and can and do go under whenever their clients manage 'get it right'.

Below is from a press release from a broker who recently had to issue a major profits warning to share holders following a period of market turmoil when their clients did just that.

 

 584643691_aaplus500.thumb.png.31b80ff9ce2c4ea24ff986611449ab6d.png

  • Like 1
Link to comment
2 minutes ago, Caseynotes said:

It's worth pointing out again that brokers who do take on the trade are also taking on risk and can and do go under whenever their clients manage 'get it right'.

Below is from a press release from a broker who recently had to issue a major profits warning to share holders following a period of market turmoil when their clients did just that.

 

 584643691_aaplus500.thumb.png.31b80ff9ce2c4ea24ff986611449ab6d.png

 

 

No, but IG just cuts you off from trading when the market is making a major move.  (Major outages)

Link to comment
5 minutes ago, dmedin said:

 

 

No, but IG just cuts you off from trading when the market is making a major move.  (Major outages)

major outages are rare, the bigger problem is a sudden lack of liquidity which is the cause of a gap or a spike, it's at those times that some think that IG should just take the other side of their trade instead of looking for a counterparty in the market.

  • Thought provoking 1
Link to comment

Currently you cannot short certain stocks because around the world the various stock markets, central banks,  government authorities and regulators banned shorting unless you actually hold the underlying asset as part of dealing with negative market volatility during the Covid-19 crisis. These rulings apply regardless of what instrument you trade. To short one of these controlled stocks you have to demonstrate that you hold the actual stock and are actually hedging, not shorting. If you look on the internet, you will find that each country and stock market lists those companies that cannot be short traded

  • Like 1
  • Thought provoking 1
  • Sad 1
Link to comment
On 08/07/2020 at 13:20, CharlotteIG said:

There are some brokers out there that will not hedge the same way as clients and win when clients lose however IG are not one of them. We want our clients to win so they will continue to keep trading with us. 

 

Where do you think IG as a company would rather the current contents of my bank balance sits, in my account or in IG's?  

Link to comment
  • 3 weeks later...

Not looked into the forum for a few weeks (months?) guys.

Had an interesting read in this thread now. Good to see the old lads in here @nit2wynit and of course @dmedin, the old pessimist :D. @Caseynotes also still running his same old show, like the grandpa in his chair talking to the grandchildren sitting round him on the floor :D

Anyway, I think it is time for a recap of what was going on in my trading in the last couple of months.
I will publish an update in the main Ross Warrior Trading thread in the next couple of days. Keep yourself posted.

Btw, after having had a little draught in the beginning of this year, Ross was absolutely killing it during the recent Corona volatility. Check out his recent videos. Making a couple of $100k+ days and probably doing over $1m in profits in the past couple of months. True legend.
Everyone who says he's a scammer, have you heard of a multiple income stream model?

If you are successful in trading, why on earth would you not also teach it (and making even more profit)?
Let's say you learn a skill outside of trading, like data analytics. Then you go to a company and work there as a data analyst. Over the years you get better and better at your craft and eventually the company offers you a leading position at a higher salary, running a team of data analysts and teaching them your craft.
That's the same with trading. Trading successfully and not teaching it is like saying to your boss, listen, I appreciate your offer, but I'd rather not run the team and just sit in the corner doing data analysis myself reporting to someone else.
Just my point of view on this.

Anyway, doesn't really matter who thinks Ross is a scammer or not. He's doing a great job out there, which I can only appreciate.

  • Like 1
  • Great! 1
Link to comment
16 hours ago, DSchenk said:

Check out his recent videos. Making a couple of $100k+ days and probably doing over $1m in profits in the past couple of months. True legend.

 

how do you know though? Its healthy to play ****'s advocate here but he could be doing a pump and dump on the penny stocks , With larger stocks , he could be going long and short on the same position and just showing the winning one, uploading only profitable trades to YT and his followers,. He remains perfectly hedged . Easy to show a 100k trade that way

I have no idea if he is a scammer or not and one look at his YT vids I immediately switched off, It is wise to at least question the possibility.

Also  from what I can see it's not just him but so many people defend online YT traders but readily admit "they are not profitable themselves just yet". They live of the "I'll be rich one day if  keep learning from this guy" dream

I worked on the trading floor for the big bank for many years putting out trade ideas after trade in, It was not a scam but naturally everyone would show a client a favourable situation . In fact we only ever showed profitable trades, selected window lengths, scenarios  and avoided the probability of risk / return .The equites desks all put out bear market trades and my desk Interest rates was all on rising rates , high inflation scenarios. I'd say every client we had lost money through over the last 15 years 

The usual FSA warnings were attached like .... well IG have at the bottom of this page,  but human nature being what it is, every just ignores it 

 

  • Thought provoking 1
Link to comment

@DavyJones Explain to me how you fake a 3h live stream where he made $225k (his biggest day so far)

https://youtu.be/TntupfLJyDs

The only way how you could fake that is if the "live stream" actually isn't live, but like 30s delayed.
Then you look at the actual live chart and when it is going up, you say on your "live stream" I go long here, cause you know it is going up in the next 30s and by how much. And you say I'm selling here, cause you know it will soon stop going up.
But surely people would notice if the stream is delayed, those who trade side by side with him in the premium classes anyway.

Link to comment
On 30/07/2020 at 15:00, DSchenk said:

If you are successful in trading, why on earth would you not also teach it (and making even more profit)?
Let's say you learn a skill outside of trading, like data analytics. Then you go to a company and work there as a data analyst. Over the years you get better and better at your craft and eventually the company offers you a leading position at a higher salary, running a team of data analysts and teaching them your craft.
That's the same with trading. Trading successfully and not teaching it is like saying to your boss, listen, I appreciate your offer, but I'd rather not run the team and just sit in the corner doing data analysis myself reporting to someone else.

I personally couldn't think of anything worse than having to deal with the public - out of 10,000 there'd be about 5 people who would be worth the effort, the other 9995 would destroy your belief in humanity and life itself

 

Link to comment
3 hours ago, THT said:

I personally couldn't think of anything worse than having to deal with the public - out of 10,000 there'd be about 5 people who would be worth the effort, the other 9995 would destroy your belief in humanity and life itself

 

I'm sure 9995 out of 10000 people feel the same way about you.

Link to comment
On 30/07/2020 at 15:00, DSchenk said:

Anyway, I think it is time for a recap of what was going on in my trading in the last couple of months.
I will publish an update in the main Ross Warrior Trading thread in the next couple of days. Keep yourself posted.

Have you been profitable?

Link to comment
On 31/07/2020 at 21:26, DSchenk said:

@DavyJones Explain to me how you fake a 3h live stream where he made $225k (his biggest day so far)

https://youtu.be/TntupfLJyDs

The only way how you could fake that is if the "live stream" actually isn't live, but like 30s delayed.
Then you look at the actual live chart and when it is going up, you say on your "live stream" I go long here, cause you know it is going up in the next 30s and by how much. And you say I'm selling here, cause you know it will soon stop going up.
But surely people would notice if the stream is delayed, those who trade side by side with him in the premium classes anyway.

I'm not on a mission to attack the dude but just glancing at the video, a few things that I  noticed :

1) talking in  $$$ amounts is meaningless, its % rtn that people need to know
2) I jumped through it and literally every comment " I just bought in here or I just exited here" . Everything said in the past tense after a favourable bar formed  
3) at no point can I actually see a P&L, open position list nor even the trades on the chart he is watching  . Personally I have never use software that doesn't show this. Yet all the YT comments are "wow you just made 50k dude!! ". The point is people watching his YT stream are taking what he says purely in faith .

also, would the video be marketed  and become viral around so much is he didn't make much cash, its the average long ten performance run is having that is the important factor ,

As I say I am unbiased towards him so I have little evidence to call him a scam artist nor great trader,. but personally I don't take any youtube guru just on his word. Analysing someone's ability is like proving something in maths " you first remain undecided and only when evidence present itself you learn towards a belief or conjecture. 

Ask yourself if you had a mind to, could you replicate that YT performance  bu yelling views, hey on IG I just went long Facebook, hey I just exited here "

Of course maybe he is and there are lots of video on YT showing his performance, I haven't taken time to investigate. 

Edited by DavyJones
Link to comment

Just to put in my two-penny worth, so we can fill  the jar.

That guy seems to claim that around 4K traders join his live chat room every day to watch what he is doing.
So he has a legion of minions that will push any trade he enters to into a direction after he clicks on the mouse. 

Since he is the one triggering the move, he is always first in the trade. That is not a bad trick I have to say, very similar to the headline "expert advisor say whatever ...  trade the same so he can make a profit, just because he is first in the queue" 

I am going to watch this week https://www.warriortrading.com chatroom, just for the sake of proving myself wrong if I have to. Thanks for bringing it over here. 

  • Like 1
Link to comment
55 minutes ago, jlz said:

Just to put in my two-penny worth, so we can fill  the jar.

That guy seems to claim that around 4K traders join his live chat room every day to watch what he is doing.
So he has a legion of minions that will push any trade he enters to into a direction after he clicks on the mouse. 

Since he is the one triggering the move, he is always first in the trade. That is not a bad trick I have to say, very similar to the headline "expert advisor say whatever ...  trade the same so he can make a profit, just because he is first in the queue" 

I am going to watch this week https://www.warriortrading.com chatroom, just for the sake of proving myself wrong if I have to. Thanks for bringing it over here. 

 

the whole 'pump and dump' scam  has been around for 100 years. I start getting suspicious when the top traders keep focusing on penny stocks, When I see them taking on facebook., Amazon I have more faith in their ability . 

End of the day if you are a top trader , more expensive stocks will be preferably to you due to liquidity reasons .

 

Link to comment
On 08/07/2020 at 19:07, nit2wynit said:

...to add to that remark though, it's almost impossible to follow the Gap and Go strategy with a small account.  Even so, most of the small cap stocks are unavailable with Spread Betting. 

That's it really.  Not rocket science.  The limitations with IG and Spread Betting don't allow for larger success ratios using this strategy.

 

Have you tried the Share Dealing route (long only)? I have a 100% success record*** on that, tighter spreads . Might be feasible, not sure yet . Agree SB is not really feasible unless you have a big big moves like EZJ recently  . Also you get filled at the worse possible position 

 

*** statistics based on only 2 trades 😅

  • Great! 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • General Statistics

    • Total Topics
      18,582
    • Total Posts
      84,598
    • Total Members
      67,728
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    back2black
    Joined 26/05/22 10:01
  • Posts

    • Look at various past recessions and you should notice that it WAS NOT the Economy that went down first. The markets went down first. The economy always lagged behind the market's demise. So, how is it that we are ALWAYS SURPRISED (most professionals in the business) ? Yes, the general public should be and is shocked, just like the politicians and the Mandarins. But the professionals too? Then how did they get to be called professionals at all, or be in that job?????? Fear is hyped up to DRAMATIC PROPORTIONS, The media will bombard us with dooms day scenarios, via their allies in industry. We have come across this time after time, time after time, after time. In fact during Brexit the same sort of tactic was used to confuse us all and put fear of getting out. Later we found that it was not like that at all. We face normal financial and economic dynamics based on HOW THE MARKET FORCES ACT OR REACT, OR FAIL TO ACT CORRECTLY, AND BAD GOVERNMENT POLICIES. Pundits offer governments "solutions", or do they really? All they offer is, with hindsight, plausible reasons and the same OLD "SOLUTIONS" THAT FAILED TO GENUINELY SOLVE PERMANENTLY THE PROBLEMS. Most have their pet theories as to how, QE, helicopter money, debt write offs for companies, subsidies, etc... USE THE SAME "solutions" as used in the past, repeating the same all, same all. Same all tactics, habits and practices, or is it malpractices? In the meantime how come the Central Bankers COULD NOT ANTICIPATE IT AND SOLVE IT? But wait! They have QE, INTEREST RATES and degradation of the currency (make our goods cheaper for abroad), that will fix it. DOES IT??? NOT REALLY. The reason for purchasing power of money going down over the decades is simply the inability to control or manage inflation / deflation dynamics and financial stability in the first place. There are BASIC FUNDAMENTALS  FOR FINANCIAL STABILITY THAT ARE RARELY CONSIDERED OR HANDLED. INSTEAD THE FOCUS IS ON INTEREST RATES AND SUBSIDIES AND A FEW OTHER FACTORS. We NEVER REALLY got out of the past recessions properly ---   JUST LOOK AT THE GDP GROWTH after each of the past several recessions and it has, on the whole, gotten to be less the next time round, overall. And the debts were not resolved by individuals. companies and others. Instead they were encouraged to feast on debts to get growth --- very low  interest rates   -- WOW, WHAT MAGIC. OUT WENT NATURAL ORGANIC GROWTH BASED ON MONEY PEOPLE HAVE FREE TO USE IN THEIR POCKETS. Artificial inducements seems to be the preferred way. No wonder things never solve fully and financial stress is maintained. Subsidies, write offs, QEs, laws passed to make individual bank accounts to be "taxed" above a certain limit to "help out" failing banks or when there is a run on the banks, that is a possible action in the future.  etc, etc, etc. Governments have been sold doggy ideas to steal individuals money  as a desperate measure to solve a calamity which THEY PUT OFF HANDLING FOR DECADES. It has been done in various countries in various ways in the past, e.g Cyprus 10% tax on accounts, and gold confiscations in some countries in the past, and  in several countries your cash that you carry in the pocket can be, and has been confiscated without doing any wrong because the laws passed after 9/11 allowed it so. The other way will be, in the future, banning paper money -- cash, and going digital. That will mean that full police state regarding financial control. Also, you then cannot take money out of the system. So if a bank run occurs, a big issue. And it will be great for negative interest rates charge. They have it worked out to save themselves after ruining the system themselves. Before 2007 the FED the then Chairman told many that booms and bust were over. Celebrate, bing on new debts. And so the malpractices  continued (afterall that is what gots encouraged). SO, IS A NEW RECESSION COMING? And what could it bring about? WHAT DO YOU THING?      
    • Charting the Markets: 26 May European indices pause following the Fed's rate hike. EUR/USD, EUR/GBP and USD/JPY drop post FOMC minutes. And gold price weakens, while oil stalls and natural gas heads higher.     This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • Under new powers, the UK government is investigating the recently acquired stake in BT by the private French telecoms business Altice. Last December Patrick Drahi’s Altice group raised its stake in BT from 12.1 to 18%. The UK government is asking if this move breaches the National Security and investment Act passed last year.              
×
×
  • Create New...