Spoofing is risky business... if it wasn't then everybody would be doing it. It must take some skill to spoof successfully. But as others have said it presents opportunities in the market and potentially I would suspect it wobbles a few bots operating on WOM but I don't know much as I am a manual trader and don't put too much emphasis on WOM.
It would only be cheating if the money shown couldn't be matched but it can so therefore if you are spoofing then you are taking a risk. I wouldn't do it.
Is spoofing cheating under the Gambling Act.
We see what we reasonably assume is spoofing and if it could be proved to be intentional It probably is illegal.
Unfortunately it is probably impossible to prove so nothing will get done about it imho.
Unlike financial exchanges there is nothing that is really being "traded" since there is no underlying asset. What is called "trading" here is just gambling on price movements.
The exchanges offer instantaneous peer-to-peer gambling by showing offers to bet that can be withdrawn at will.
People will bet on anything so how could you prove that someone hasn't genuinely offered a big bet a couple of ticks lower/higher on one side of the book then changed their mind and gone to the other side ? The money is really there in their accounts to allow the bet to be placed and is deducted from their available balance so how can you prove deception or intent ?
The exchanges are not bothered since they are just following their remit of offering peer-to-peer punter back/lay offers to the market. That is similar to the financial exchanges which have got the "Flash Boys" suits rejected in the US https://www.law360.com/articles/695790/ ... uits-nixed
Caveat emptor
Unfortunately it is probably impossible to prove so nothing will get done about it imho.
Unlike financial exchanges there is nothing that is really being "traded" since there is no underlying asset. What is called "trading" here is just gambling on price movements.
The exchanges offer instantaneous peer-to-peer gambling by showing offers to bet that can be withdrawn at will.
People will bet on anything so how could you prove that someone hasn't genuinely offered a big bet a couple of ticks lower/higher on one side of the book then changed their mind and gone to the other side ? The money is really there in their accounts to allow the bet to be placed and is deducted from their available balance so how can you prove deception or intent ?
The exchanges are not bothered since they are just following their remit of offering peer-to-peer punter back/lay offers to the market. That is similar to the financial exchanges which have got the "Flash Boys" suits rejected in the US https://www.law360.com/articles/695790/ ... uits-nixed
Caveat emptor
- SeaHorseRacing
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Ive been manipulating the markets quite well over the last few months. But it is only when I see an opportunity.
- ruthlessimon
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