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you are a mug to run overnight positions with IG

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it seems you can not win running overnight positions with IG .. apart from the ridiculous funding costs 

ther number of times you seem to be stopped at the artificial markets they make can not be random 

standard excuse .. market conditions meant we needed to widen spreads 

at least the local casino gives you free food and drinks as they do you over .. 

 

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Regarding overnight funding charges, there are two sides to the coin. A few weeks ago I had DFB positions on Silver and EUR/USD which both ran for weeks. Because I was short, I received the daily funding as a credit to my account each night. If I had been long then I would've been debited, but then I wouldn't have traded the spot price for positions open that long. Of course, not all markets pay out a funding credit for trading in a particular direction, so it's important to check the rates first. Exploiting this to your advantage is something all traders should consider when planning to hold a trade overnight, just as @TrendFollower says:

3 hours ago, TrendFollower said:

Traders need to be ruthless and look at the rules and build this into their trading strategy.

 

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21 hours ago, TrendFollower said:

They identify reasons using technical analysis, charts, arrows and everything under the sun as to why not to enter a long trade but they do not seem to discuss shorting that very trade.

Very true. There's definitely a long bias amongst traders, collectively speaking. Even when an uptrend has technically reversed, many will refuse to go short but won't hesitate to go long at the mere hint of a new uptrend. The bears capitalise on this during a long squeeze and that's when we see markets unwind so rapidly. Those big red candles, that's bulls' blood! 

Edited by LeoTrader

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If you want to avoid overnight fees you should look at IG's "futures". They have a little bit wider spread but you can hold them until maturity without paying anything at all.

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Guest JTSoggz

Does anyone know why long USD/JPY positions havent been paying any interest over the past few days? i have the position in my demo account but cant see a credit for my long position since 28/12

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1 hour ago, Guest JTSoggz said:

Does anyone know why long USD/JPY positions havent been paying any interest over the past few days? i have the position in my demo account but cant see a credit for my long position since 28/12

Hey - there is a Bank Holiday in Japan this week until Friday, and therefore no overnight interest. Hope this clarifies things. All the best.

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