Jump to content

Technical Analysis Day Trading on IG


Guest francisg

Recommended Posts

Guest francisg

Hi guys,

Just joined IG. Is it a good platform for day trading stocks (i.e are trades instant, and are there enough good quality technical analysis tools)?

Also, I can't seem to find any scanners?

Thanks!

Link to comment

Hi @francisg,  there are 4 platforms for stocks, 

the non-leveraged IG shares platform,

DMA with L2 data for shares or shares on cfd,

the IG online leveraged (spread bet or cfd) or the

Prorealtime (sb or cfd).

Presuming you are meaning the online leveraged, the screener hasn't yet been migrated from the old to the new. you can open the old by clicking on the arrow for the dropdown box, see pic.

Also see the thread linked on using the screener.

image.png.294ce404fc3401a3f0edf88412081f47.png

 

 

Link to comment
Guest francisg

Thanks! 

Im quite new to trading and would like to trade stocks and EFT’s using a real time system. Does the web (browser) based IG platform accommodate for that usage?

Link to comment
Guest francisg

@Caseynotes Definitely non-leveraged initially to limit my exposure. One concern I have is the speed of the web based system. Do you happen to know how much lag there is and how quick positions can be open/closed (any lag in doing so?). 

Many thanks for your help.

Link to comment

@francisg, are you sure now? Platform lag is not a real problem and is measured in milliseconds (my mt4 is 32ms), more of a problem causing buy/sell lag is likely to be liquidity when trading actual stocks. There needs to be sellers to buy from and buyers to sell to, for most stocks that won't be a problem except in times of high volatility.

The sb/cfd (leveraged) market is much larger than the actual underlying market so the above concerns are less likely and of course you don't have to use all the leverage.

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
  • image.png

  • Posts

    • PG Elliott Wave Analysis Trading Lounge Daily Chart, 1 March 24 The Procter & Gamble Company, (PG) Daily Chart PG Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulse STRUCTURE: Motive POSITION: Minuette wave (ii) of {iii}. DIRECTION: Bottom in wave (ii).   DETAILS: As we are approaching ATH at 165$, we are expecting either an acceleration higher into wave (3) or else we could have topped in wave (C) to then fall back lower and continue the major correction.         PG Elliott Wave Analysis Trading Lounge 4Hr Chart, 1 March 24 The Procter & Gamble Company, (PG) 4Hr Chart PG Elliott Wave Technical Analysis FUNCTION: Counter Trend MODE: Corrective STRUCTURE: Zigzag   POSITION: Wave a of (ii).   DIRECTION: Downside into wave (ii). DETAILS: Looking for a clear three wave move into wave (ii) to finding support around the 155$ mark.   Welcome to our PG Elliott Wave Analysis Trading Lounge, your ultimate destination for detailed insights into The Procter & Gamble Company (PG) using Elliott Wave Technical Analysis. As of the Daily Chart on 1 March 24, we dive into crucial trends shaping the market.         *PG Elliott Wave Technical Analysis – Daily Chart* In terms of wave dynamics, we identify a trend function with an impulse structure, specifically a motive pattern. The current position is in Minuette wave (ii) of {iii}, indicating a potential bottom in wave (ii). With the approaching all-time high (ATH) at $165, we anticipate either an upward acceleration into wave (3) or a potential top in wave (C), followed by a downward movement to continue the major correction. *PG Elliott Wave Technical Analysis – 4Hr Chart* Here, we explore a counter trend mode with a corrective structure, specifically a zigzag pattern. The present position is in Wave a of (ii), suggesting downside movement into wave (ii). We anticipate a clear three-wave move into wave (ii), aiming to find support around the $155 mark.  
    • The new month kicked off with several stock market indices hitting record highs on Thursday. Japan's Nikkei Average, the S&P 500, and the Nasdaq all closed at fresh record peaks. The gains were buoyed by tech stocks like NVIDIA and Advanced Micro Devices. Stock markets are in an upbeat mood after US inflation figures came in line with expectations on Thursday. This helped shape forecasts for the timing of future Fed interest rate cuts. It extended the ongoing global equity rally and also pushed Treasury yields lower. The DAX also reached a new all-time high on Thursday. Europe opens today waiting for inflation data that should indicate inflation is moving back toward the 2% target. This comes after data showed inflation dropping in countries like Germany, France and Spain thanks to lower energy and food prices. The ECB has maintained record-high interest rates since September. Also on the calendar today is the US ISM manufacturing PMI.   
    • Cocoa Elliott Wave Analysis - 1 March 24 Function - Trend Mode - Impulsive Structure - Impulse Wave Position - Blue wave ‘iv’ unfolds Direction - Blue wave ‘iv’ in progress Cocoa has been a standout performer in the commodity market over the past two years, exhibiting a robust upward trend since September 2022. During this period, Cocoa prices have surged by an impressive 170%, following a discernible impulse wave pattern. Examining the daily chart, it is evident that the current rally, which commenced around the 2200 mark, is approaching its final stages. The completion of black wave 5 marked the conclusion of blue sub-wave iii at 6500. The recent downward movement indicates the emergence of blue sub-wave iv. Based on projections, blue sub-wave iv of 5 is anticipated to progress towards the significant level of 8000. A closer inspection of the sub-waves within blue wave iv reveals a potential three-wave decline, as depicted on the H4 chart. This decline from 6500 is forecasted to retrace towards the Fibonacci levels of 5489-5174. Additionally, the critical trading level of 5000 serves as another pivotal area to monitor for potential support should the ongoing dip breach the aforementioned Fibonacci zone. However, it's essential to note that the development of the wave 5 impulse pattern would be invalidated if prices were to fall below 4354. In summary, adopting a strategy of buying into the dip appears to be the most prudent approach for traders interested in Cocoa. The focus will be on purchasing opportunities towards the end of blue wave iv of 5, particularly if there's a bullish reaction observed at the identified price support levels. This analysis underscores the potential opportunities within Cocoa's current price movement and provides a framework for traders to navigate the market effectively. By incorporating Elliott Wave principles, traders can better understand the underlying market dynamics and make informed decisions to capitalize on future price movements in Cocoa. Technical Analyst : Sanmi Adeagbo          
×
×
  • Create New...
us