Jump to content
Sign in to follow this  

Bitcoin, Ethereum and bitcoin cash

Recommended Posts

Thanks Griffer

 

All of my positions were in USD as well.  Like I said, I have been using IG markets for 10 years to do all of my trading.  I have never had any issues and for the most part it has been a brilliant trading platform.  I believe this is due to internal adjustments of markets and (I hope) that positions will be reopened at whatever the spot price is for the relevant crypto currency. 

Share this post


Link to post

I have checked the daily statement that is automatically generated and I am comparing the 31 Dec 17 vs the 01 Jan 18 (I am in Asia timezone). The statement shows a list of trades under Trade Recaps, same underlying (I had several mini-bitcoins) but all different closing prices. Odd...

I guess we will have more visibility once they open in Australia. Their helpline is likely to be flooded with calls.

Share this post


Link to post

Thanks but no email in search everywhere, no worries. Roll on 9pm

Share this post


Link to post

IG markets opens at 10am AEDT.  I'll be sure to contact them upon opening and I'll provide updates to the forum once I know more 

Share this post


Link to post

We need to calm down guys. They probably should have sent an email saying they were going to close all positions and reopen them later. 

 

Still they have sent an email saying they will #1 Open bitcoin gold, so why would they close all our positions including bitcoin gold? #2 They are consolidating their crypto positions and getting rid of the big and the mini contract.

Share this post


Link to post

Good news, my positions have reappeared.  It seems they have scrapped the mini contracts and replaced with USD $1 contracts.

 

I will sleep much better tonight!

Share this post


Link to post

Is there an expiry for ether CFD? Do we need to enable roll over? I'm intending to hold my position for longer term, and afraid if there's any expiry for my position. I don't want my position to be closed unexpectedly.

Share this post


Link to post

So everything has been re-instated. I guess they could have communicated better. 

The new contracts are essentially US$ based, with a minimum size of $50 for BTC. I think this is hugely bullish for crypto, and especially for BTC, as it enable investors to get exposure for fractions of BTC, similar to a stock split.

Share this post


Link to post

There shouldn't be any expiry, but you need to carefully watch the length of time you remain invested. Remember that you get charged a daily margin rate, and for crypto it is not cheap (0.0416% per day, that is more than 15% cost per annum). While crypto goes up in leaps and bounds, that's ok, but the year btc only goes up 10%, you essentailly book a loss.

Share this post


Link to post

It's worse got ether. The margin rate is almost 28% per annum. They raised it recently actually. I should look for alternative.

Share this post


Link to post

eToro has wider spread, but does not allow leverage in cryptos, and so doesn't charge daily margin. Worth trying them.

Share this post


Link to post

Will bitcoin open at 9pm tonight Jan 1? Frustrating watching a good close position on coinbase where I'd sell right now (sell bet)

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      13,063
    • Total Posts
      66,537
    • Total Members
      88,811
    Newest Member
    bigslickmmt
    Joined 24/11/20 03:00
  • Posts

    • Everyone, it seems accepts the result of the recent  US elections, except the President and half of the GOP.  Convinced of his own meritless delusions of fraud and other voting chicanery, he now pursues a policy of obfuscation, denial of service and general spite while mad dog Giuliani and even madder Sidney Powell pursue laughable cases in various courts in the vainglorious expectation that 6 million perfectly legal votes will somehow be annulled/ cancelled and cease to  exist. This is not to be, though the only realists in the GOP are keeping their own counsel on the subject, thereby enabling the Presidents' persistent delusions. That's the problem when you believe your own propaganda, it is easy to become confused with reality. Apart from hiding rotten fish behind the radiators of the White house and carving his name on the Resolute desk, soon to be ex president Trump is doing his best to make the transition for "sleepy" Joe as difficult as he can. This includes a tacit refusal to provide more stimulus.  He has instructed Steve Munchkin to end funding for various emergency programs to the tune of $438 billion., thereby hampering the incoming Treasury secretary before he/she even walks through the door. This has rightly upset Jerome Powell who has the interest of the US economy as his overarching priority. Unfortunately, the President is unmoved by the needs of the American public as he feels they have betrayed him.  Why reward treachery? Trump is known for his heartless ardour when crushing those he deems as unworthy, which in this case is the American people as a whole, overcome as he is with nihilistic zeal.  Playing golf while ignoring a health crisis , at the same time as full denial in the face of outright defeat, does not an effective president make. Indeed, might I venture his very legacy as president and future GOP kingmaker hang very much in the balance, indeed may have been irretrievably  lost. Like Trump, lost with nowhere to go. Though he will surely be welcomed in Turkey, Russia, not to mention North Korea.  The markets really want to break higher and gap up to new ATH's but Trumps intransigence, denial (of Covid and the election results) and general spite ( no new stimulus)are causing a state of intermarket bearish divergence, with the SP and Nasdaq refusing to break into new ATHs(all time highs).  I guess we will have to wait until he is forced out come 20th Jan. 
    • Good article (new) on strategy planning and testing from Steve Burns. https://www.newtraderu.com/2020/10/25/how-to-create-backtest-and-optimize-a-trading-strategy/ "A trading strategy is the process used to enter and exit positions in a market based on quantified signals on when to buy and sell. A trading strategy will have trading plan to express a methodology that defines a trader’s return goals, risk tolerance, and time frame. A successful strategy should have an edge expressed in how trades are entered and managed to maximize gains and minimize losses."
    • (not the cost of Covid-19 but the cost of the govt's disastrous response to a virus that's no more deadly than the common flu) The REAL cost of Covid-19: RUTH SUNDERLAND's terrifying dossier exploring the full economic damage will make you ask... can we afford to keep the brakes on Britain? National debt more than £2 trillion, equivalent of year’s output by entire country  Borrowing from April to October was £170 billion higher than period in 2019  Bank of England believes unemployment rate will to peak at around 7.75 per cent https://www.dailymail.co.uk/news/article-8975765/The-true-cost-Covid-19-Read-RUTH-SUNDERLANDs-terrifying-dossier-economic-damage.html?ito=amp_twitter_share-top
×
×