Jump to content

Recommended Posts

Hi, I hope someone can help me, I love the IG platform but I'm not sure if a small trader could make a profit with their fees, Id like to start with £1000 is it worth going in with this amount. I am thinking that you may need to a lot more to absorb the fees. Is anyone in my situation, thanks

Share this post


Link to post
8 minutes ago, PureGain said:

Hi, I hope someone can help me, I love the IG platform but I'm not sure if a small trader could make a profit with their fees, Id like to start with £1000 is it worth going in with this amount. I am thinking that you may need to a lot more to absorb the fees. Is anyone in my situation, thanks

Hi, are you referring to a share dealing account or are you meaning a leveraged spread bet or cfd account?

Share this post


Link to post

I phoned IG and the guy said it was £8.00 to open the CFD trade and then £8.00 to close

 

Share this post


Link to post
1 minute ago, PureGain said:

I phoned IG and the guy said it was £8.00 to open the CFD trade and then £8.00 to close

 

I think they may have misunderstood, the £8 would be commission on a share trading account. The SB and CFD work differently, there are no fees other than the spread you pay to enter a trade. If you pay tax in the UK the SB account type is the better option. £1000 is enough to start trading though you would need to keep your position sizes quite low but you will see how it all works on the demo platform.

See this page https://www.ig.com/uk/spread-betting/spread-betting-vs-cfds

Share this post


Link to post

Thank you so much I've stayed away from the CFD account for that reason. 

Cheers for now

David

Share this post


Link to post

Remember when trading CFD/Spreadbetting over 70% (and thats being generous) of clients lose money.  

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.


  • Member Statistics

    • Total Topics
      11,569
    • Total Posts
      58,861
    • Total Members
      77,915
    Newest Member
    chil10
    Joined 15/07/20 04:04
  • Posts

    • Bit of useful information for ya all I did 10 experiments using  the barchart.com over last few months . Ran 2 equally weighted portfolio's  (swing trades <1 week)  10 long positions in one and 10 short positions in another . The stocks were taken at random from their screener, only ones with med - high vol and only ones with a 100% BUY / Sell  on a 'BarChart Opinion' etc  https://www.barchart.com/uk/stocks/signals/top-bottom/top?viewName=main&timeFrame=daily Time frame 1 week, Mon to Fri  Risk / Reward 1: 1.5, stops usually 1 Daily Standard deviation  Results: nothing more than random! 0.45% from memory  Sure I could have fiddled about with limits stops, portfolio weights  etc  but it nothing convinced me that there is any evidence to pursue expert screeners  
    • I have finally got over that psychology issue. I never move stops now except  the odd time in the direction of the trade, to lock in profits (BE). I never risk more that 0.5% on a trade and keep risk /reward to about   1:1.5 I have read a heck of a lot now and follow accepted advice. 20 trades , same strategy , sensible stop say at 1 - 1.5  ATR / 1 BB  or a obvious support and resistance line I don't revenge trade, never get over confident ,screenshot every trade  and keep a detailed log and analyse every trade with notes.  *** HOWEVER The problem is quite simple,   its just not working, I am on a 5th loss in a row on MACD and 200MA , trading in the direction of the trend, using multiple time frames       looking at my logs I tend to agree with this now. I get the initial direction right more that 50% of the time but once i passes the 1:1 , the odds decline rapidly I would only move a stop if the trade moved rapidly, Like a manual trailing stop.  
    • Dropping a short every 15 points could be a good strategy 😜👌 profit takers can’t help them selves lol 😂 
×
×