ES Journal Archive (2006 - 2008)

[illiquid]

Quote from romik:

That's a typical 5 digit account holder's mentality - Show me the money & as quickly as possible please.

If only size of one's deposit correlated with trading ability -- I suppose, given your statements about edge, you've shown that's what you desperately need to believe. You're consistent if anything.

I've been told you trade the ES at a spread betting firm, I will leave you alone now.

 

[volente_00]

Quote from illiquid:

If only size of one's deposit correlated with trading ability -- I suppose, given your statements about edge, you've shown that's what you desperately need to believe. You're consistent if anything.

I've been told you trade the ES at a spread betting firm, I will leave you alone now.

It's not about the size of the account. It's about the size of the balls behind the account.

 

[romik]

Quote from illiquid:

If only size of one's deposit correlated with trading ability -- I suppose, given your statements about edge, you've shown that's what you desperately need to believe. You're consistent if anything.

I've been told you trade the ES at a spread betting firm, I will leave you alone now.

no commissions, no capital gains tax, ability to place bets equivalent to 200 ES contracts, quotes marked to market. That is a massive saving for UK traders. I don't see what point you are trying to make mentioning it in what seems to be a sarcastic remark

"Spread betting appeals to the same kind of market as CFDs, namely experienced traders, active in the market who understand the risks associated with margins and gearing. Much of spread betting can be short-term trades, volume-based, high volume day traders coming in and out of positions.

Experienced traders all spread bet for the simple reason that if they can make £10,000 from spread betting, then they can keep £10,000 spread betting, rather than handing over a significant proportion of it to the taxman."

 

[illiquid]

Quote from volente_00:

It's not about the size of the account. It's about the size of the balls behind the account.

A good timing mechanism helps too

Given how much leverage futures allow, when you think about it, you really don't need to keep much (relatively) in a trading account. Numbers get skewed from percentage returns normally associated with equities traders, the excess is just more rope to hang yourself with.

 

[illiquid]

Quote from romik:

no commissions, no capital gains tax, ability to place bets equivalent to 200 ES contracts, quotes marked to market. That is a massive saving for UK traders. I don't see what point you are trying to make mentioning it in what seems to be a sarcastic remark

"Spread betting appeals to the same kind of market as CFDs, namely experienced traders, active in the market who understand the risks associated with margins and gearing. Much of spread betting can be short-term trades, volume-based, high volume day traders coming in and out of positions.

Experienced traders all spread bet for the simple reason that if they can make £10,000 from spread betting, then they can keep £10,000 spread betting, rather than handing over a significant proportion of it to the taxman."

No commissions . . . how wonderful. I think we have similar places here that deal in particular markets: foreign currencies, oscar winners, etc.

Did you quote that directly from the brochure? In that case, nevermind me, you are doing things perfectly, keep on truckin'. I'll stop now, I promise.

 

[romik]

Quote from illiquid:

No commissions . . . how wonderful. I think we have similar places here that deal in particular markets: foreign currencies, oscar winners, etc.

Did you quote that directly from the brochure? In that case, nevermind me, you are doing things perfectly, keep on truckin'. I'll stop now, I promise.

Illiquid, more than 20% daily volume on LSE is derived from CFDs, those are official stats & what does that tell you? Nothing else to discuss as you are just being argumentative for the sake of it, so it seems to be anyhow. And unlike yourself I know a lot more about spread betting firms, so I wouldn't even go there if I were you, comparing it to Forex means that you do not understand it.

 

[ryank]

Quote from romik:

no commissions, no capital gains tax, ability to place bets equivalent to 200 ES contracts, quotes marked to market. That is a massive saving for UK traders. I don't see what point you are trying to make mentioning it in what seems to be a sarcastic remark

I did a quick Google search on spread betting in the UK. Doesn't look like we have any equivalents here in the US. I get the impression that some people look down on spread bettors. What is the catch?

 

[Brucelee]

Quote from ryank:

I did a quick Google search on spread betting in the UK. Doesn't look like we have any equivalents here in the US. I get the impression that some people look down on spread bettors. What is the catch?

The spread and UK tax laws are subject to change

 

[romik]

Quote from ryank:

I did a quick Google search on spread betting in the UK. Doesn't look like we have any equivalents here in the US. I get the impression that some people look down on spread bettors. What is the catch?

There is no catch. In the UK there is no capital gains tax on gambling earnings. Because you do not hold a contract (share) but bet on the outcome makes it a gamble. Otherwise the procedure is very close to trading via a futures broker. All firms are regulated in the UK (unlike Forex). People that fail at spread betting will most likely fail trading via a conventional futures broker. If you live in the UK and are not into scalping for ticks, then spread betting can be a lot more beneficial due to favourable tax laws, which indeed can change tomorrow, next year, after 10 years, etc. I have never seen them alter spread on indices, that would be classed as fraudulent activity and they will be forced to make refunds by the FSA. Spread widens out of hours, but a client knows what the max spread is going to be, it's in the agreement.

 

[elbow]

10:30 turn finally boy i waited all morning for that misses 15 nq pts just waiting for that 10:30 turn......silly me........and the fun goes on.....my turn was at 10 because i like the real turn....with a pt or 2 someitmes 3 when i am asleep