Bucket shops????

Discussion in 'Trading' started by omegapoint, Feb 29, 2008.

  1. Just read what a bucket shop is. A major broker can get away with a thing like that?? How do they fix the game if they take the other side of what might just as easily be a losing proposition for them? Do they only enter trades they don't want the other side of? Where can I get information on that and how can I tell if I'm being ...bucket shopped?
  2. bt116


    I thought a Bucket Shop was the same thing as a Trading Arcade. Is that not the case? Just thought it was a prop that charged some sort of technology fee and gave you some leverage to trade with and made money from high fees. If not, what is it?
  3. Dude, unless your broker is somebody like the Fakeout Bros. brokerage house or something like it, you're just being paranoid. A little knowledge is sometimes a dangerous thing and money DOES tend to flow to those who know.

    If you observe price action among many stock groups you see prices breaking out and then retracing to take out the stops where the majority usually places them. That's why there's rarely a "perfect" entry or exit. Instead, money is made by "managing" a position into/out as prices move, as opposed to the small speculator's way of haphazardly being all bullish/all bearish and blaming his broker for all kinds of shit.

  4. Crap, just opened an account with Fakeout Bros, fuck, I better close it :D

  5. You need to understand the context of the word. Jessie Livermore coined that term, to my knowledge. He began trading in hotel lobbies with unregulated brokers that were bookies who price fixed. Read http://www.amazon.com/Reminiscences...bs_sr_1?ie=UTF8&s=books&qid=1204316773&sr=8-1 If you are dealing in a regulated, centralized marketplace you have little worry. If you are trading forex you have a good chance to get "bucket shopped" to use your term. Why because most are unregulated and prices don't come from a centralized market place. They come from the price your broker decides upon. Make sense? The biggest challenge you or anyone else will have in trading will be you not the broker. :)
  6. I'm just losing my ass evey day. Once I've lost 100,000 I'm out and into cd's. they can't have all my money.
  7. First time I looked into forex trading, I asked about the volume indicator. When I couldn't get a satisfactory answer, I got very uninterested.

    Once I had a red hot strategy that allowed me to trade up to 200 times a day in the same stock but the broker would split my order if I tried to trade more than 50 shares. So I traded only 50 shares and averaged only 200 bucks a day.

    One day after trading the qqq for a while, my broker called me and told me that I had been banned from trading that stock. Talk about a bucket shop.
  8. cold


    OP hear me

    most people on this board ain't got a clue about trading or life in general

    Bucket shops are everywhere, they look like legit companies

    They lie when they say they don't take opposite of your trade

    I had 2 bucket shops CLEAN ME in my youth

    so I had to learn the hard way

    your best bet is interactive brokers .com or .ca
  9. I've had two accounts with IB that I had to close because of technical issues.

    Now I'm stuck without a broker that I can rely on. So right now I'm just waiting and going nowhere.
  10. cold


    come on man WTF

    last small glitch I had with IB was 5 years ago so come on get real
    #10     Feb 29, 2008