Historical bitcoin corrections / Logarithmic scale

[Guest 121]

Does that mean we should all press the report inappropriate content button or get eliminated ourselves?

[Caseynotes]

I would tick inappropriate content if I thought it was inappropriate against me personally, otherwise I would just carry on defending what I thought was right and let the mediators decide. If they scrub whole sections so be it.

[Caseynotes]

I see the moderators have already wiped out the original offending post. 

[Guest 121]

Just in time before Bitcoin futures get going in less than half an hour !!!!!

[Caseynotes]

I see the moderators have wiped out great chunks of this thread in the last few minutes, shame people won't see.

[Guest JasmineC]

Hi all, I just want to reinstate 's comment above, please follow the community guidelines and use appropriate language when posting. A few comments have been removed and we thank you for your help in maintaining a meaningful discussion.

Happy trading.

[Caseynotes]

It's all your fault ,  you used to many exclamation marks.

[Guest 121]

I'll use question marks next time ?????

[Caseynotes]

I think it was Douglas Adams who said anyone using more than 5 exclamation marks was a sure sign of insanity :0

[Guest 121]

Thank God I didn't do more than.

 

If Bitcoin doesn't hit 17,000 or 13,000 I'm going to call it a bad start ????

[Guest Debzella]

I had shorts as well as some orders sitting in the background. When the Price dropped yesterday and I finally had the chance for my shorts to come good I couldn't sell!! Was a nightmare and had to phone IG for them to cancel all my orders in order to be able to sell my shorts. Cashed in at a loss and will never buy short again! Good luck!

[Guest 121]

Could IG explain to the community what happened to Debzella so that we can all learn from it?

[Guest Savvyscot]

Ooh that's scary. The biggest problem iv been facing os trying open up new orders. Which is really limiting!

[Guest 121]

Can IG explain why there appears to be a problem with orders not being accepted ?

[Caseynotes]

I put forward the same question on Friday in the 'Bitcoin' thread as liquidity is always going to be a problem in fast moving markets and especially with the restriction on this one.

 

[Guest 121]

Does IG have the liquidity problem, and if IG don't come back to answer we won't ever know. It may not have been a fast market either.

[Guest 121]

Using points on my Boll Bands to draw support and resistance lines Bitcoin USD (DFB) based on IG pricing it will need to break through 17500 to get any excitement going during these historic 24hrs.

 

Then again it has to be said a new order is developing therefore initial surprises can be expected.

 

May also have to wait for the US markets to open. I'm off !!!!!

[JamesIG]

Hi all. Let me try and answer a few points in one post. 

 

When a market is unlongable / unborrowable you won't be able to open a new position at the current market price, or set a working order. If you try you would get rejected. This is currently displayed on the 'info' section as below, and also noted via the rejection message. 

 

 

 

The reason for this is this is due to internal limits from IG in regards to the value of bitcoin held. Cryptocurrencies have inherent risks associated with holding them, and although we hold significant coins (in the region of tens of millions of pounds worth) we do have a limit. 

 

Everyone at IG (both the dealing desk and senior management) are aware of the frustration it can cause to be rejected, and we are looking at other options to hedge your positions and shall continue to refine the offering. It's not only in our interest to sort this issue from a customer satisfaction point of view, but also a financial point of view - obviously there is no commission paid on a rejected trade. 

 

Different brokers have different methods for hedging / dealing, have different risk parameters, and different methods for allowing clients to trade. Some won't allow each client to have more than a couple thousand dollars worth of exposure, some won't be leveraged, soome will have a huge spread, and some have significant overnight funding charges. You can see a bit of a cost comparison here to see how IG stacks up against the competition. 

 

Working orders: If you have a confirmed working order with IG and it's triggered, then you will get filled even if the market with IG is unlongable / unborrowable.

 

Stops / Limits: If your positions has a stop or limit hit then you will still get filled (and your position closed) even if the market is unlongable / unborrowable. 

 

Closing an open position: if you have an open position and you are looking to close it at the current market price you will always be able to do so even if the market is unlongable / unborrowable. 

 

In regards to  trade - please give our dealing desk a call and they'll be able to go through any rejections. Unfortunately we can't discuss your trade activity on an open public forum. 

 

In regards to some comments earlier on in the thread. Please keep things civil. We have had to remove some posts and an individual has been banned for breaking the IG Community terms of service. 

[Guest 121]

AHA. Understood. Thank you James.