Trading restrictions
People do ignore them at IBs, they trade though partners, cousins, etc.
I have seen people that work on the trading floor, nipping out to internet cafes down the road using internet trading accounts.
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Previously on "Dirty Spekulant contracting in IB sector - no spekulanting? :("
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Originally posted by HairyArsedBloke View PostHow on Earth can one trade futures if the minimum holding is 30 days? The frackers expire FFS!
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Originally posted by AtW View PostDo you understand the purpose of the rules that were put in place?Originally posted by Jog On View PostTo prevent insider trading?Originally posted by doodab View PostAlso to prevent conflicts of interest.
One set of rules I came across include the condition "Absolutely no trading in derivatives".
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All IBs enforce that rule. It applies to your spouse as well (and I'm guessing your immediate family).
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Originally posted by Jog On View PostI might have to get my spekulant broker and activities approved and vetted?
I can't close any positions before holding them for at least 30 days?
I have no interest in trading fundamentals and won't be trading during the day - but this could be bad for my filthy spculanting activities....
Anyone been in the same situation and can give a lowdown that's a bit clearer than the policy doc I've just been sent?
How on Earth can one trade futures if the minimum holding is 30 days? The frackers expire FFS!
Anyway, the next role I had 'crossed over' and after that I've been proprietary so there is no compliance whatsoever.
Not that I'm advising you to do this, but I'd just keep positions small and my gob shut.
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Originally posted by Jog On View PostI wonder if I do it all through a spread betting account it will all be classed as gambling and won't make a difference...
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Originally posted by doodab View PostSo the gist of it is that when the price hits a certain level it will either go up or go down?
Complicated stuff. You can see why they need to explain it using squirrels.
I amazes me the amount people get paid when they figure out how this stuff all works - I mean anyone can do it can't they?
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Think of a PPZ level as a "live electrical wire" and Price as a "squirrel". When Price (the squirrel) hits the PPZ level (the live electrical wire) that Price is going to jump one way or the other.
Complicated stuff. You can see why they need to explain it using squirrels.
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