Jump to content

larrytradingltd

Community Member
  • Posts

    36
  • Joined

  • Last visited

Posts posted by larrytradingltd

  1. Thanks for replying, sounds fair enough. If you could take the restrictions off the small cap stocks, I'm sure you would get just as many big losers as winners in those more volatile stocks! 

    • Like 1
  2. Yeah that's what I've been finding, unfortunate because it would be good, their platforms dead easy to use and there's all the tax pluses with SB. Guess they would take some big hits with the crazy runners through  

  3. err not when he says countless times "dont follow my strategy, you wont be able to" and "paper trade until you can prove youre consistently profitable" 

    That's just called being a bit of a doughnut and not listening 

  4. Ah right, yeah I'm a big fan of the smb stuff, definitely down the more academic end of the spectrum but it's great. I think if I did buy one course it would be their full one. I can't afford any of them though so my approach is to pick around and try and fill all the gaps with all of their free content, which seems to be working out ok at the moment. 

    I don't know, with Ross I've seen him state a lot of times on his videos specifically not to follow his strategy, especially if you're a new trader as it is really quick, pretty aggressive with his entries and you're just not going to follow it. I know his course aims to teach the full range and background in trading including crypto, large cap etc and there are other people involved in warrior trading that teach, not just him. I feel for people who have blown up an account but I have heard him say countless times not to blindly copy his trades and also to paper trade until you can prove you're profitable.  

  5. I dont know what you can say is a scam about it really, if you dont feel like the content works for you thats fair enough but that's the same with every education provider out there - smb, live traders, warrior traders, the chart guys, ezeetrader, real life trading. 

    They all have their different approach to it but that's what you get with teachers right? I'd say there's good value in all their content for the right person, I've learnt a lot from all of those. 

  6. 19 hours ago, Caseynotes said:

    loads of people post free stuff online and SMB are a new york prop firm but those like ross are different, his subscription business is massive and completely unregulated, if the guy I know of is making £70k a month ross and his backers are making 10 times that, the trading is a show, everything he does is aimed at pulling in new subscribers not trading.

    Well I mean he trades everyday and is extremely successful, each to their own I guess but I think he's doing a great thing. I've personally learnt a hell of a lot just from watching him trade and his thousands of hours of free lessons and content up on youtube. Same with Mike Bellafiore and SMB, they're primarily a prop firm but their education is fantastic, they have a real passion for teaching and do it incredibly well imo. Some people just want to pass that knowledge on. 

  7. A lot of traders want to teach as it offers a steady income which trading doesnt. Doesnt mean all of them are scammers, some people just enjoy the community and teaching aspect of it, yes they earn good money from it but they give good value also. The Chart Guys are great for TA, lots of great free stuff also you dont have to sign up for. SMB capital as well, you cant say they're scammers surely ;) 

  8. 5 hours ago, Caseynotes said:

    hmmm, the problem people have is why would anyone spend so much of their time and money cultivating their subscription service? The reason of course is that subscriptions can pay a lot more than trading, especially trading small cap gappers.

    I know of a UK based trader who mentors and has a subscription service who is making £70k a month, he has a waiting list of hundreds, people are begging him to sign them up. Ross Cameron is international and far, far more well known than this UK guy.

    coming across as looking 'pretty honest' is in the scammers job description, these setups are often organised and orchestrated by a team of backers and frontmen, fake documents are no problem and the profit potential is huge, and best of all is that the financial regulators don't care. 

     

    Well it's up to you to draw your own conclusions I guess, he live streams his trading every day, has run a successful chat room and teaching program for years with many successful students. True he makes a lot of money from it but then he's a good teacher and has a steady stream of people willing to pay to be taught. 

  9. 2 hours ago, dmedin said:

    My scammer alarm bells went off the first time I saw him.

    you need to readjust your scammer settings ;) 

    Honestly though I always find it weird when people take to him like that, I always think he comes across as pretty honest, goes out of his way to get the accounts independently verified etc and you can clearly see he knows what he's talking about

    • Thought provoking 1
  10. Not to be pedantic but it does matter who the longs and shorts are matched to as they have to be matched by IG accounts. Which is why stocks are often available to long and short on other brokers but unavailable on IG, especially those small caps stocks. (the whole reason for this thread) 

     

    I know, I'm not surprised about people blowing up accounts but to be fair to Ross he plainly states on multiple occasions not to just blindly try and follow his strategy. he teaches good stuff though, you can learn a lot from him, I personally wouldn't buy his full course but it's not a scam. 

  11. 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 ;) 

  12. Yeah, I mean I sort of get it, with the 500-1000% daily swings we've been getting recently, but it is disappointing though. I opened one just the other day, you might have to not be quite so accurate with the questionnaire but it's definitely doable  👍

     

    • Like 1
  13. 16 minutes ago, Caseynotes said:

     i've explained twice that is not how it works, IG match buyers to sellers.

     

     

    This isn't true, you are not actually buying or selling the stock in a spreadbetting account. It's why the level 2 is largely irrelevant and there is no need for stop limit orders. 

  14. 1 hour ago, HappilyNorth said:

    Can you expand on this as I'm close to opening an account with IG and wasn't aware of this.

    If a bio stock is up 30% on the day and I want to either buy it on a pullback or fade what I think the top is, the chances are I'll get an error message saying "Market only available to close" ?

    Does it happen with big daily gainers all/most/some of the time? If so I won't bother and will just open a small SB account to take a punt now and again. Cheers. 

    Yep, I've found this repeatedly on all of the top gappers. I don't think I've found one that I've been able to trade yet, which is pretty frustrating if that's your strategy. To be fair to IG I really like their platform and use it to trade mid/large caps and etfs but I've opened an Interactive Brokers account for the small cappers.  

    • Like 1
  15. 7 minutes ago, Caseynotes said:

    this doesn't make sense, you are saying IG is just taking the other side of your bet (who else could you possibly mean?), i've explained twice that is not how it works, IG match buyers to sellers.

    yes, you are completely wrong, IG's spread bet and cfd track the underlying cfd market, if you place the SB chart next to the CFD chart they are exactly the same, same candles same prices, they move in the same way because they are the same. 

    you are saying you should always get filled with SB but then can't understand why you didn't get filled with SB, the answer is likely to be a misunderstanding as to how SB works. it works the same as cfd, you need a buyer for every seller and if you don't get filled then obviously the broker is not just stepping in and automatically taking the other side of your bet.

    loads of new traders say brokers are corrupt, brokers know retail mostly lose and so they just take the other side of the bet, but if ever the trader doesn't get a fill they blame the broker and expect them to just take the other side of the bet.

     

    Sorry I think it's you that doesn't understand the concept of spreadbetting. Yes I know they track the same market, same candlesticks, price action etc. The difference being that you are not being linked to an exchange and actually purchasing a share of a stock from a seller. You are taking a 'bet' against which way the market will move. (Hence 'spreadbetting') Which is why you can always get filled on an order at any price, buying or selling, because you are not actually buying or selling a physical share from one of the many exchanges. 

     

    My issue is not getting filled, I've always been filled obviously for the reasons I've listed, but the issue is IG not allowing you to trade many of the indemand us stocks, just saying "market only available to close" 

  16. I'm not saying IG takes a position on the other side of the trade but they only make money when customers lose money, whereas a traditional broker wants all their customers to win on all their trades because they will stick around, continue trading and they make their money off the commissions. 

  17. That's the reason you can always get filled on a spreadbetting account, you dont need to look at the level 2 to ensure you'll get filled, market liquidity doesn't matter and there's no need for stop limit orders at all... 

    Or am I completely wrong?! (It's a possibility) 

×
×
  • Create New...
us