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Caseynotes

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Posts posted by Caseynotes


  1. 18 minutes ago, Luthando said:

    I have been struggling to trade on my live account lately, every time I place an order of buy, it gives me the final position of buy and when I alternatively place an order of buy it will give me a final position of sell. I no longer know what to do since the whole week i have not traded. I also have attached a video.

     

    Hi, not really sure what is going on there, probably worth reporting via the platform. Go to PRT 'Help' > Technical Support' and you should see an option to send a report via a pop up box to type in a brief description of the problem which will be sent to IG's prt technical staff


  2. 8 minutes ago, mikeakirk said:

    What is a Retail service provider?

    not quite sure of the context you mean but a broker will have retail clients and professional clients though you might be classified as retail but still trade full time.

     


  3. 2 minutes ago, TrendFollower said:

    @Caseynotes,

    How much does it cost for this privilege? Up front fees and charges? What if the trader cannot prove profitability levels as per the companies criteria and show managing risk as per the companies criteria then would they lose any upfront fees and costs?

    If a trader can prove profitability and prove they can manage risk then why would they sign up to this? Surely they could just go alone? The only reason I can think of is that they have access to more capital and therefore the 80% profit would be more then if they had very little of their own capital to trade?

    What if the trader proves the above, starts trading and fails, they still lose the upfront fees and charges. 

    They are searching for already profitable traders, there is no cost, upfront  fees or charges, if you can't provide proof of profitability don't even bother applying. Generally it's something like 12 months minimum of account records showing profitability with minimal drawdown.

     Keeping 80% of profits trading a 500k account is better than 100% of a 1k account and with 100:1 leverage and not even your own money.

    • Like 1

  4. With the US indices back up near the highs it must be time for Trump to ratchet up the trade war again (4 times in a row so far).

     

    Donald Trump’s ready to escalate US trade war if deal not agreed soon, says top White House adviser Michael Pillsbury

    • Tariffs on Chinese goods ‘could go to 50 per cent or 100 per cent’, Michael Pillsbury says
    • But the American leader is not pursuing ‘cold war 2.0’, and US-China decoupling would be a ‘consequence of no agreement’ by Beijing, he says

    https://www.scmp.com/economy/china-economy/article/3028164/donald-trumps-adviser-china-michael-pillsbury-says-president


  5. 12 hours ago, TrendFollower said:

    Betting is only too expensive to hold overnight positions for very long if your is trade is wrong and the trade is going against you.

    not clear on why someone with a bet of 10, 50 or 100 contracts would be happy paying hundreds of pounds every night for months on end in overnight funding charges when forwards or futures markets, where you don't pay any at all, were designed specifically for the task.


  6. 1 hour ago, TrendFollower said:

    @dmedin,

    Just be careful posting these. There may be some on the IG Community who may get involved with such opportunities and get themselves into a pickle. 

    Can't see any problem with this, the firm clearly states you must be able to prove your profitability and prove you can manage risk and if accepted you keep the first 5k and 80% of profits thereafter, at no point is the traders own capital put at risk. 

    Interesting contrast to the company in @DSchenk 's new thread.

    • Like 2

  7. Dow remains just below the ATH, some might be thinking there should have been more lift off the Fed mtg Wednesday but as I pointed out in the dax and dow thread Wed morning that if the event is front run to the tune of being 90 to 100% already priced in then the risk is to the downside rather than up.

    Not much on the calendar today and is Friday so not expecting fireworks but will be interested to see if there is any downward pressure and how the bulls might cope, they have been in control for some time now.

    image.thumb.png.58041eb3052c87f483bee419aa93e29b.png


  8. 26 minutes ago, zala said:

    I am currently looking at Swedbank AB stock, which has a margin of 10%. 
    The current share price is at 140 SEK.

    D = n x C x i / 365 
    n=amount of stocks,
    c=closing price
    i=market rate +-2.5%
    is the formula that IG uses, with 360 being the divisor for markets that are not British, South African or Singaporian.

    So if wanted to loan a 1000 shares, the daily interest would be;

    1000*140*2.5%-(0.5%*)/360= 7.78 SEK/day?

    Is my calculation correct, or am I wrong when it comes to the market rate?
    Is it STIBOR I should use, the 12 month or how do you calculate this exactly?

     

    Hi, they use the 1 month LIBOR but not sure which one for that currency, UK is around +0.7% but Swed and Euro is -0.5%.

    Also there is a borrow premium of 0.9%

    See example for shares and ETFs here; 

    https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

     


  9. It's worth noting that this firm is looking for new inexperience traders, there are plenty of trading companies around, they are called Prop firms (Propriety) and to start you must submit your trading record first, if accepted you will pay a monthly 'desk fee' of around £500 for all the extras, news feeds and analytic data, ultra low latency connections, exchange fees etc as well as an account to trade and you receive a percentage of profits based on a sliding scale (the better the profit the more the percentage). But even with a proven record the firms Risk Manager keeps a tight rein for the first year.

    These guys on the other hand are offering tuition initially, whether it's worth the money couldn't say, but they are still going to have a fairly high failure rate, those who don't make the grade and don't even get off demo.

    • Like 1

  10. 17 minutes ago, DSchenk said:

    Target: 4% growth per month (£140 fee payable if you don't hit the target): (4% on a £20k account is £800)

    I would say they can't really lose can they? you can be sure they will have a very tight rein on their 20k, there will be a max loss limit per day and will probably be very small as well as a max lose amount in total which will be small as well. So you could be paying them £400 to join and then £140 for the month and the boot.

    • Like 1

  11. 3 minutes ago, dmedin said:

    So oil is going up and down and up and down.

    How does one actually trade it and make any money?

    😕

     it's useful to firstly have a clear idea of the direction of a market, secondly it's a case of finding a potential target, and then thirdly (last) you would look for a good entry point if one presents.

    trade selection needs to be done in that order,

    if unsure of direction look no further, 

    if direction is clear is there an obvious target? (us oil for example has just been stopped at a prior high) if not, look no further,

    if direction is clear and a target is obvious is there a good entry point - a pullback that's turned to continue the trend or a breakout.

    it needs to be done in that order not the other way round, many new traders just jump in on a breakout or even worse just on FOMO, then realise there no real clear direction or target, which means price isn't actually going anywhere with purpose but is just meandering.

     

    • Like 1

  12. 4 minutes ago, Jab said:

    How do I edit a watch list? (remove or add shares)

    hi, I don't think you can edit IG's watchlists but you can for those that you have created yourself, at the bottom of the list there is + new watchlist, find the market to add then in the dropdown box click add to watchlist and choose your new one.

    image.thumb.png.738238de48bec26778c1634094f6585e.png

    image.png.5a8d79c0eae1b2b58495dd57df1ed869.png


  13. Dax starting just under the pivot and at yesterday's point of control on the volume profile indicator (red bar, highest volume for the day was put through at this level). Dow starts above the pivot after the drive up in the last hour of the US session yesterday. Will be looking for Dow to test the highs and for Dax to follow.

    Have added Ftse below which may react to the UK interest rate data today at 12:00, is starting out well below the pivot but just above daily chart support around S1.

    H1 charts;

    image.thumb.png.05ba17036bf3cd101bcd6d835387d1d9.png

    image.thumb.png.60b571e7345abb9a1b42039c3b34eac4.png


  14. Dow has just backed away slightly overnight having ramped up into the US close yesterday. UK interest rate not expected to change so it will be down to the vote count and the mon pol statement. Dax and ASX tracking Dow.

    image.thumb.png.30f13a3c9448e58e9e1a89d630799bb9.png

     

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