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luigo

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About luigo

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  1. Good shout Pat. I've also now moved all my BTC trading to Bitmex as the market seems to be in a permanent 'unlongable' state with IG. It took a good few days to integrate our systems with the new broker but I am very happy with the results so far. The market is always open (proper 24/7) and no trade attempts have been rejected so far!
  2. Great post by Mr Covel today. https://www.trendfollowing.com/2017/12/10/43-kick-****-trading-rules-bitcoin-crypto-trading/
  3. Spot on! Great post by Covel. https://www.trendfollowing.com/2017/12/10/43-kick-****-trading-rules-bitcoin-crypto-trading/
  4. Hi there. Happy to try! I can't claim to be an expert in any form or shape BTW and my strategy is relatively simple. It is fully automated for two main reasons; 1) I have a day job so I can't afford to be glued to the screen all the time and 2) I want the rules to be followed consistently so the automation ensure my own opinions and biases don't get in the way! ;-) The system uses the IG REST API and trades BTCUSD on a 15-minute bar. It uses two pairs of moving averages to trigger signals; a long term one to determine whether the market is trending up or down, and a short-term one to capture short-term momentum. BTCUSD is obviously on a massive uptrend at the moment but it tends to display smooth short-term bursts followed by small, but sharp sharp corrections. The double MA crossover approach seems to be capturing these moves well. It's rare these days but the strategy has gone short a few times in the past. The system adds an ATR-based stop-loss to every trade which protects it from catastrophic loss. I spent quite a lot of time fine-tuning the stop level to achieve a good balance between containing risk and not being kicked out of trades to quickly. The system also closes any open trades on Friday at 10:00pm which is when IG takes the market offline and re-engages on Saturdays 8:00am. As we've seen repeatedly in this forum, especially over the last few months, IG has been making the market unavailable ('unlongable' I think is the term they use) to manage their risk and that has meant that many of the system's trade attempts have been rejected. This obviously prevents the strategy from being effective as signals can't be acted upon so recently, I have enhanced the system to use Bitmex as an alternative broker. I hope that roughly summarises the approach but please shout with any questions. L
  5. Ermmm. Not quite. Certainly not all the time. They turn it off quite regularly when demand and volatility are high. Sadly that is precisely the scenario people want to take advantage of!
  6. I agree with that assessment. It is unrealistic to expect a smooth trend upwards without any corrections and pullbacks along the way! My strategy is automated and trades in the direction of the underlying trend; signals are triggered when the short-term price action rejoins the long term trend and it is precisely this sort of pullbacks that fuels such an approach. That is, when IG actually allows me to place trades which is increasingly not the case. I spent the last week coding an adaptor so that the system can switch to an alternative broker when a signal is triggered and IG has BTC flagged as 'unlongable'. I quite like the REST API provided by IG but it really is no help at all when trades are rejected left, right and centre. My secondary broker's API is not as robust (i.e. required a lot more code on my side to integrate) but it does the job, and the BTC market is always available. Annoying 'cause I now have to keep funds with two brokers but I can't afford to let the system fail if only some of the signals are actually taken.
  7. Optimising their offerings means making the markets 'unlongable' and therefore untradable?
  8. I missed another BTC rally this morning due to the market being in an 'unlongable' state. Tried to go long at 1:30am when the rally started but got my trade rejected. It really feels like high-probability trades are being rejected (i.e. when momentum is strong) which effectively means the game is rigged against us. I'm now making changes to my system so that it can support alternative brokers. I foolishly coded it to work with the IG API (and IG only) and never foresaw this situation. The IG API is quite good but useless if we are unable to place trades when signals are triggered. Fail to understand what the point of the market being open is if we're not allowed to take a position when we need to?
  9. I keep getting my BTC trades rejected with no explanation other than'rejected sorry'. Are people coming across the same issue? I raised a ticket with the support desk and apparently the reason for the rejections is that the market was in an 'un-longable' state at the time I attempted my trades. I don't understand why, if the market is open, we are not allowed to place a long position. It almost feels like trades are not allowed when they have a high probability of being winners? Keen to hear if anyone is experiencing this problem.
  10. I asked the very same question on the web chat recently and it appears that no stops are triggered whilst the market is offline. That means the price is evaluated at 8:00am on a Sunday and, if the price is over (or under in long positions) the stop level, the stop is triggered at the current price! If it gapped on Saturday and the price is well beyond the stop, you could face a major loss. Hopefully someone from IG can confirm and comment. The underlying BTCUSD market for instance is open 24/7 but we are not able to trade it through the platform which means we are forced to close trades in a Friday night or face significant risks.
  11. I'm having exactly the same problem. I trade through the API and my system had all its trade attempts rejected yesterday. Let's see then what happens tomorrow then, as per the above explanation...
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