Just some comments, gripes and suggestions
Joined 04/06/23 13:40
The inclusion of trading volume as a standard indicator in charting software for the past three decades is not without reason—it offers a vital advantage. Volume analysis grants traders valuable insights into the actions of market participants at different price levels. By focusing on volume, traders can react more effectively to price movements rather than attempting to predict the future direction of prices, as is often the case with many other technical indicators. 📍Key points about volume Here are the key points regarding the volume indicator commonly plotted on the X-axis in trading: 🔹Volume Indicator: The volume indicator calculates the total number of shares or contracts traded during a specified time period. It is usually displayed as a histogram or line chart, with time represented on the X-axis. 🔹Liquidity: Volume is a critical metric as it provides insights into the liquidity of a security. Higher volume generally indicates greater market participation and liquidity, making it easier to buy or sell the asset without significantly impacting its price. 🔹Confirmation: Volume can validate the authenticity of price movements. In an uptrend, increasing volume supports the bullish move, indicating strength and conviction among buyers. Conversely, declining volume during an uptrend may signal weakness or lack of interest. The same principles apply to downtrends. 🔹Breakouts and Reversals: Volume analysis is often employed to identify breakouts and potential trend reversals. A significant increase in volume during a breakout suggests a higher probability of a sustained move, while decreasing volume near a support or resistance level might indicate a potential reversal. 🔹Divergence: Volume can unveil discrepancies between price and market sentiment. For instance, if prices are rising while volume is decreasing, it could suggest that the rally is losing momentum and a reversal may be imminent. Similarly, increasing volume during a price decline might indicate selling pressure and the potential for further downside. 🔹Confirmation of Patterns: Volume can serve to confirm or invalidate chart patterns such as triangles, head and shoulders, or double tops/bottoms. Higher volume during pattern formations enhances their reliability, while low volume can cast doubt on the significance of the pattern. 🔹Watch for High Volume: Unusual spikes in volume can indicate significant market events, such as earnings releases, news announcements, or institutional buying/selling. Abnormal volume levels can lead to increased volatility and potentially present trading opportunities. 🔹Relative Volume: Comparing current volume to historical average volume helps assess the significance of current trading activity. Higher volume relative to the average may imply increased interest, while lower volume might suggest a lack of conviction or reduced market participation.
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I've been actively trading for a while now and this is just a couple of gripes, comments and questions.
Disappearing positions - quite often I'll have a trade on with the details on the chart (stops, limits etc) and it just disappears from the chart. I can see the position is still on from the positions tab but the chart is just blank. The only way to fix it is to log out and back in again (closing the browser) to make the open positions available on the charts again, very frustrating.
Ghost trades - closing trades that then refuse to go away. Usually just comes back with a useless generic error message when trying to close the position. Sometimes they go away on their own, other times it's a browser reboot again. The positions are gone/closed, but they still show as active on the charts.
Crypto spreads - getting the impression that crypto is only included as an asset so that IG can be 'cool and down with the kids'. Bitcoin spread of $40 while other platforms have a spread of $1 or less ? Absolutely useless, just use IG to monitor or use indicators, but trade it elsewhere for a fraction of the cost.
Orders with trailing stops - not possible, why ?? Seems like a very basic function... Same with OCO orders, which I'm sure were available once but now removed. The whole point of having orders is to trade 'hands free' and not need to monitor charts constantly. But because you can't OCO then you need to monitor the charts constantly to delete unfilled orders...
Margin on orders. Why do unfilled orders count as margin ? Say I have 5 orders on and as soon as the first order is filled I want to cancel the other 4, well I can't because I don't have enough margin to have 5 (unfilled) orders at once ! Why is margin counted on 'potential' positions that aren't even opened and may never get opened ?? Margin should be calculated on open, active trades only as they happen.
10pm stop hunt - Why does a very liquid forex pair with a 0.7 pip spread suddenly jump up to 15+ pips and jump around randomly for absolutely no reason ? It's not the underlying market causing it because it doesn't happen on your competitors platforms. Be honest IG, you're just stop hunting and it should be illegal, funny how it always happens the same time every night as well (before you start blaming the underlying).
Minimum stop distance - Why ???? you know that stupid grey area that stops you from putting your stops wherever you want to ? You any idea what a pain it is having to put on opposing orders on every position just to use them as stops because you insist on this minimum distance thing ? If I want to have a stop one pip away, I should just be allowed to do it rather than having to put on an order one pip away instead. Using orders completely defeats whatever you're trying to achieve with this minimum distance thing, so why even have it ?
50% line - A lot of common systems have 50% crossover strategies, so would it really hurt to have the 50% line drawn as standard on indicators ? It's a pain having to drawn it on every indicator. A bit more flexibility on all indicators would be good, like being able to change 20/80 lines etc...
Settings memory - very often doesn't remember anything. Have to keep switching on 'one click' for example, or alert sounds. Every chart, I switch off 'show HLOC'. Next day, have to do it again as it never remembers from one day to the next. Very annoying...
Minimum size - Now that our betters in the EU have made it almost impossible for small traders to trade on margin, how about reducing the minimum size on something like Forex from $0.50 per point to £0.10 or even smaller ? To trade one single position on Forex needs hundreds and hundreds of margin at the very minimum, so virtually anyone who hasn't got £1000+ in the bank can't trade it. Especially with the ridiculous margin being calculated on unfilled orders (see above). 90% of trades lose money, so encourage people to trade ffs ! better to take a small amount off someone than none at all ? Instead you've chosen to freeze people out the market and make it impossible for them to open positions... seems like a kinda stupid business model you got there IG...
Trailing stops size - Why does it have to be stupid restrictive numbers ? why can't I put a trailing stop on at 7 pips away and stepping at 2 pips or whatever value I chose ? Why does it have to be 12 pips minimum and only steps in 5, or whatever the random number generator has spit out for that particular asset ? Another very basic thing that doesn't have any rhyme or reason to it. It should be minimum distance 1, minimum step 1, for every asset !!!
Countdown timer - been asked for a few times over the years, a simple clock at the top of the page showing the current time, so people can see when the next candle/bar is going to open. Or even a countdown timer next to the price line like a lot of other companies have. I have to sync my desk clock to the charts every day and use that, it would be nice if there was just a clock on the chart though...
Disclaimer - I'm definitely a rubbish trader, one of the 83% or whatever it is now. I make my money from passive income on investments and only spread bet for fun with disposable income (and I've disposed of a lot of it with IG lol :-). But there is no way I would commit serious capital to this with all the problems listed above. I don't expect any offical response from IG on any of this, but would be interested to hear from other users if they have similar gripes / problems ?
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