Caseynotes

If you are UK based with a GBP account that's better because then you can use the Bitcoin (GBP 1) instead of the Bitcoin ($1) deal ticket so for a 1 contract short when the spread is 36 you sell at £1/point and enter, your account will show a £36 loss (which is the spread or the 'cost of the trade') and you will need to see price go down over 36 points before you start to show a profit. If you are holding the trade overnight then the interests costs or 'overnight funding' come into play, not sure if they use a conversion fee if it's the GBP not the $ deal ticket, and for shorts you may be paid the interest rather than paying as you would for a long. Jump on the demo platform and have a play around with the inputs is a good way to learn.

yes I know, I think we're all in there somewhere 😆

Half the Dow 30 companies are reporting earnings this week including Boeing, Cat and Microsoft on Wednesday. Adding the weekly calendar here, see below.

The answer to the title question is of course it is, anyone can play. Here Brett Steenbarger describes 3 classic idiots trying to play the markets; http://traderfeed.blogspot.com/2006/11/three-market-idiots.html

Earnings calendar for this week;

Dax trying to hang onto the monthly chart resistance level, Dow keeps the all time high in sight but only durable goods on the calendar later in the week so needs a push from some trade war news. Ftse distracted by the wild cable swings while ASX contemplates the continuing iron ore down trend. Daily charts;

Overnight Bonds and Oil down, Indices Gold and USD up. Chart US 10y. No high impact news on the calendar but ECB rate decision later in the week and of coarse Brexit rumbles on. COT positional change for FX, Gild and Oil.

Hi, you've linked a US IG web page, are you US based rather than UK? Yes currency conversion may apply if the trade's base currency is not as per your account but you are not buying any currency you are buying contracts so only the spread will be converted, any overnight funding charges and any profit or loss but not the underlying currency amount. In your linked page is a link to further info which gives 2 example trades, one in your account currency and the other for another currency, see; https://www.ig.com/usermanagement/customeragreements?igCompany=igus&agreementType=costs_and_charges&locale=en_US

Hi, it's not btcgbp, IG have just changed the $1 per point to £1 per point on the deal ticket to make it easier using a GBP account, the chart is still btcusd.

Hi, no again because you are not actually buying a currency so you don't need to do any conversions, you are buying contracts and the only charge for FX cfd or spread betting accounts is the spread. So on btcusd (mini) 1 contract is equal to $1 per point, 10 contracts is equal to $10 per point and the spread is 36 points. When you buy 1 contract the cost of the trade (the spread) is immediately taken by the broker so your profit/loss shows minus $36 on open. If you bought 10 contracts your P/L would show minus $360 on the trade open. Price needs to rise by 36 points before you would begin to show a profit, for each point of price rise beyond 36 your 1 contract trade increases by $1 while your 10 contracts trade increases by $10.

Hi, I've not heard of a multi-currency account, you can have multiple accounts of different currencies and transfer funds between them. You would need to email the help desk for clarification and to set the accounts up.

The broker doesn't gain and is probably just finding out as well that the servers are being misused. A few bad brokers in unregulated countries can profit from clients blowing up their accounts but not here, the scam doesn't include the broker and these guys don't need to sell courses though some do, it's not hard to cobble together stuff off the net. They are calling out their trades, instagram is great because you can delete posts and reply's and how long does it take for someone to finally admit to themselves they've been had, quite a while it seems. And when it finally all blows up you just shut it down and start up again using a different name.

It's all true I'm afraid. So you hire the use of the disconnected server which shows you as having a live account with a known broker, you then fill in fake backdated trades giving you fantastic results and a massive account size. Then get a few pics of yourself with a rented lambo and post the lot on instagram. You will be inundated with requests from hopefuls willing to pay 1k - 5k a month for your subscription service, some of these guys carry a caseload of 100 clients at a time, the clients drop out when they realise it's a scam but others are queuing up to replace them. In another video (that also got banned) he looked up IG and they didn't have any disconnected servers but most other brokers did. Gain Capital had dozens of them running, it's not the brokers who are doing it and I don't know why they have these servers but they are there and are being used fraudulently.

er, it was attempted humour, sorry for the fail.

I have a sneaking suspicion there might be quite a few conspiracy theory on your 'recommended for you' list 🙂