Jump to content
  • 0

Bitcoin Trading Over the Weekend


StevenA

Question

Hi everyone

I opened a sell position on BTC last night, just before 10pm at 3707.  I didn't realise the markets closed at 10pm on a Friday and re-opened on Sunday 8am (my fault totally, should have checked that, I presumed it was 24 hour trading on crypto).

What would happen if I open my sell order at 3707 and the price is frozen at 10pm, and during Friday - Sunday morning the price moves a few hundred points against me to 2890, but before 8am the price moves in my favour back down to 3600 or so?

Do I get the price from 8am onwards or does IG take into account the price movements over the weekend?

Link to comment

4 answers to this question

Recommended Posts

  • 0

This is enough of an inconvenience and un-necessary risk for me to leave this exchange and trade crypto on a proper platform which can handle 24/7 markets.

I too was unaware (my fault for not checking, when everyone else trades 24/7, you tend to assume they all do).

Too much risk when there are so many other superior options today. Deribit is solid. When they make a mistake they admit it and compensate customers.

IG's spreads are kind of an unavoidable rip-off too, on many BTC Futures platforms you can actually get a rebate and make money using Limit orders (the Market Order pays a higher fee, part of that is where the rebate comes from).

Too bad because IG have some really nice features. But this is unacceptable for me, I have no reason to take this risk, plus the extra prep pre-weekend and lack of opportunity caused by the weekly shut-downs. As long as they are shutting down on weekends, I'll be trading elsewhere.

Link to comment
  • 0
12 hours ago, Guest Greg said:

This is enough of an inconvenience and un-necessary risk for me to leave this exchange and trade crypto on a proper platform which can handle 24/7 markets.

I too was unaware (my fault for not checking, when everyone else trades 24/7, you tend to assume they all do).

Too much risk when there are so many other superior options today. Deribit is solid. When they make a mistake they admit it and compensate customers.

IG's spreads are kind of an unavoidable rip-off too, on many BTC Futures platforms you can actually get a rebate and make money using Limit orders (the Market Order pays a higher fee, part of that is where the rebate comes from).

Too bad because IG have some really nice features. But this is unacceptable for me, I have no reason to take this risk, plus the extra prep pre-weekend and lack of opportunity caused by the weekly shut-downs. As long as they are shutting down on weekends, I'll be trading elsewhere.

Hi, don't Deribit have a lot of hidden fees? $10 commission per trade plus maker and taker fees plus withdrawal fees.

Link to comment
  • 0
On 02/11/2019 at 00:46, Guest Greg said:

This is enough of an inconvenience and un-necessary risk for me to leave this exchange and trade crypto on a proper platform which can handle 24/7 markets.

I too was unaware (my fault for not checking, when everyone else trades 24/7, you tend to assume they all do).

Too much risk when there are so many other superior options today. Deribit is solid. When they make a mistake they admit it and compensate customers.

IG's spreads are kind of an unavoidable rip-off too, on many BTC Futures platforms you can actually get a rebate and make money using Limit orders (the Market Order pays a higher fee, part of that is where the rebate comes from).

Too bad because IG have some really nice features. But this is unacceptable for me, I have no reason to take this risk, plus the extra prep pre-weekend and lack of opportunity caused by the weekly shut-downs. As long as they are shutting down on weekends, I'll be trading elsewhere.

We're sorry you feel this way, we use six bitcoin price providers and take the best bid and offer then wrap our spread around it. 

I will speak with our trading desk however we do need downtime to test our systems and our desk find it most appropriate at the weekend when most markets are closed. 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,005
    • Total Posts
      87,988
    • Total Members
      68,997
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    noblecorner25
    Joined 27/09/22 02:16
  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, 26 September 2022, Ethereum(ETHUSD) ETHUSD Elliott Wave Technical Analysis Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: Impulse wave II Details: Wave ((C)) maybe is complete, and the price may rise again Wave Cancel invalid Level: 1220 Ethereum(ETHUSD) Trading Strategy: Bul Market Efforts The price tends to trade above the 2031.39 level as MACD Histogram has a Bul ish divergence, and the price has an opportunity reversal, This could be an opportunity to open a long position. Ethereum(ETHUSD)Technical Indicators: MACD and MACDHistogram has a Bullish divergence, and the price has an opportunity reversal. TradingLounge Analyst: Kittiampon Somboonsod Source: tradinglounge.com  Get Trial Here!       Elliott Wave Analysis TradingLounge 4H Chart, 26 September 2022, Ethereum(ETHUSD) ETHUSD Elliott Wave Technical Analysis Mode: Corrective Structure: Zigzag Position: Wave ((C)) Direction Next higher Degrees: Impulse wave II Details: Wave ((C)) maybe is complete, and the price may rise again Wave Cancel invalid Level: 1220 Ethereum(ETHUSD) Trading Strategy: Bul Market Efforts The price tends to trade above the 2031.39 level as MACD and MACD Histogram has a Bul ish divergence, and the price has an opportunity reversal, This could be an opportunity to open a long position. Ethereum(ETHUSD) Technical Indicators: MACD and MACDHistogram has a Bullish divergence, and the price has an opportunity reversal.
    • Bitcoin BTC-USD Elliott Wave Technical Analysis TradingLevels. Price Prediction Today  Bitcoin Headline News:Grayscale's GBTC Discount to NAV Breaks Records as Spread Widens by More Than 35% Crypto Market Summary Bitcoin Elliott Wave Analysis:  Corrective rally as Wave (ii) for BTC to 21,000 Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • DAX Performance Index ^GDAXI INDEXDB: DAX 40 Chart and Forecasts. FTSE 100 Index, EURO STOXX 50, Forex EURUSD GBPUSD DXY Dollar Index Elliott Wave Technical Analysis European Stock Market Daily News Headlines:Sterling GBPUSD plunges to all-time low in scathing appraisal of fiscal plan close to parity. Market Indices Overview: The corrective rally competed nicely and Wave (iv) of 3 lower is on track for short positions, after the next Wave iv) of 3 Elliott Wave Trading Strategy: Expect sideways choppy markets for the next three trading sessions. Wide stops and short corrective rallies as pointed out in the todays video Video Chapters 00:00 DAX 40 (GDAXI)  13:40 EURO STOXX 50 15:45 UKX / FTSE 100  18:24 Forex GBPUSD / EURUSD / DXY  30:41 Thanks for watching! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
×
×
  • Create New...