Jump to content
  • 0

jj


JHY101

Question

Good morning to everyone, as a newbie to IG i have had some problems with getting started on this platform, I have been trading elsewhere for over nine months so have a good idea as to how trading works. as you will have a better understanding of this platform your help will be welcomed.

I've been watching Oil for a while and when i saw the collapse i thought hmm this is an opportunity to get started on here so i went to the oil listings and clicked on 'Oil all sessions' then picked the listing of oil price that matched the price listed on Marketwatch so i could track its performance on  here and on an independent source. For a while the the prices tracked each other quite well then it all went south meaning the Oil price had risen while my trade died. i quickly turned to CNBC news channel who explained that retail investors who believed they were investing in crude oil have got a rude awakening by investing in Oil futures contract rather than 'Spot' (cash) oil. can anyone explain where i went wrong ? and how do i avoid this mistake again or is there a section  that describes this so I do not trade the wrong sector in future. 

I tried to find a record of my transaction to see if i could make a comparison myself but the records have gone.

Link to comment

6 answers to this question

Recommended Posts

  • 0
5 minutes ago, JHY101 said:

Good morning to everyone, as a newbie to IG i have had some problems with getting started on this platform, I have been trading elsewhere for over nine months so have a good idea as to how trading works. as you will have a better understanding of this platform your help will be welcomed.

I've been watching Oil for a while and when i saw the collapse i thought hmm this is an opportunity to get started on here so i went to the oil listings and clicked on 'Oil all sessions' then picked the listing of oil price that matched the price listed on Marketwatch so i could track its performance on  here and on an independent source. For a while the the prices tracked each other quite well then it all went south meaning the Oil price had risen while my trade died. i quickly turned to CNBC news channel who explained that retail investors who believed they were investing in crude oil have got a rude awakening by investing in Oil futures contract rather than 'Spot' (cash) oil. can anyone explain where i went wrong ? and how do i avoid this mistake again or is there a section  that describes this so I do not trade the wrong sector in future. 

I tried to find a record of my transaction to see if i could make a comparison myself but the records have gone.

Hi, you can find your transaction history in your My IG web page and look to Accounts where you can see or download all your transactions.

For spot oil prices Marketwatch and most other commentators use the front futures contract price (which was May) whereas brokers tend to us a combination of two futures contract prices from which they derive their spot prices.

See this thread with input from IG for more info;

 

Link to comment
  • 0

Hello,i did try but in that section but its gone from 'all history'. Also i think the confusion came from my understanding of the listings on Oil in the end I gave up. I have made hundreds of trades on other platforms and so far have never made that mistake so something was unclear which i still haven't managed to rectify.

Link to comment
  • 0
12 minutes ago, JHY101 said:

Hello,i did try but in that section but its gone from 'all history'. Also i think the confusion came from my understanding of the listings on Oil in the end I gave up. I have made hundreds of trades on other platforms and so far have never made that mistake so something was unclear which i still haven't managed to rectify.

Which platform are you using? if you were looking for shares in an oil etf or whatever you would get dozens of hits but on the cfd or spread betting platform you would select Brent or US from the commods section.

If selected US the spot chart would come up and from there you could then select a futures chart if wanted.

Also nothing should be gone from your transaction history, see my demo Hx below.

image.png.1741eced5584136b0d6ebb4a0ef55f25.png

image.png.670a379e2b6fa814f4198a714d372a38.png

image.thumb.png.5960bda482feb3557d239dc69b5df1fe.png

 

Link to comment
  • 0
6 minutes ago, JHY101 said:

Oh, sorry I'm very good  on Mt4.  combined with Finviz  Screener which makes for a good combination, i chose this platform because of its presentation, news and analysis as an addition to my own systems.

ok, you can find IG's brent and us oil spot charts on the mt4 platform but not the futures.  

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

    • Still the silence is deafening in here. When will this happen?  it have moved most my Trading Capital to another broker who does support Trading veiw Does the deal with Tastytrade have something to do with this lack of progress?  
    • Well to me I feel that the  crypto market values transparency and reliable services. And Bitget has embraced this approach, attracting a large following,gaining up to 1.4million twitter followers,. Recent data shows significant growth in trading volume, solidifying its position in the market.  The exchanges  focus on user protection and satisfaction has fostered a loyal community. As the platform continues to evolve, its value may continue to grow. What are your thoughts on the importance of value in crypto, and what do you see as Bitget's future potential?
    • As more users embrace Dapp, it gets easier to trade crypto, engage in DeFi lending/borrowing and trade NFTs. With the growing need to trade NFT comes the introduction of Love Power Movement, a transparent and accessible marketplace with the best conditions for successful NFT sales. Although the NFT sector has recorded significant growth, it's still impeded by challenges like low protection of artists' and buyers' data, absence of organised policy protecting sellers and buyers amongst others. Love Power aims to tackle those by offering fixed commissions and royalties to creators, ensuring proper profit for sales. LPM token forming a crucial part of the ecosystem has been launched with no presale and VC investment, with intent to direct proceeds from token sales to NFT artists. As $LPM prepares to list on Bitget, the vast community of Love Power Movement would surely be watching keenly.
×
×
  • Create New...
us