Caseynotes
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Posts posted by Caseynotes
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Earnings calendar for this week;
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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;
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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.
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44 minutes ago, Fib550 said:
If I am trading BTC USD or the BTC GBP variant on a SB or CFD there is no currency conversion charge then.
So what does the below screenshot mean then?
https://www.ig.com/us/forex-trading-costsThanks in advance.
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;
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2 hours ago, Fib550 said:
Thanks again for the reply. IG do have a BTC GBP product but it's hard to find, when you open the BTC USD product on the CFD or spread bet platform click the spot button then a BTC GBP product appears whereby the price is exactly the same as the BTC USD price.
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.
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1 hour ago, Fib550 said:
Thanks for the reply, I'm struggling to understand this. I'll try again with BTC USD, ignoring any spread or change in price from opening and closing the position :
Price is $8000, I play $1 per point which is equal to a $1 move up or down, the rate is 1.27.
Isn't my position size $8000?
Currency conversion charge for opening the position :
$8000 X 1.27 = $10,160, 0.5 % currency charge of $50.80/£40
Charge for closing the position
$8000 ÷1.27 = £6299.21, 0.5% currency charge of £31.50
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.
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13 hours ago, Julien said:
Hi
I am Julien and new to IG share dealing account.
I would like to set a multi-currency account?
Can anyone explain how to do that?
Cheers, Julien.
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.
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7 minutes ago, DSchenk said:
Well the brokers obviously also have an interest to get as many noobs as possible to trade and lose all their money, so I get why they would facilitate such a move if you happen to be an influencer with a couple of thousand followers and promise to bring in hundreds of noobs per month, ready to lose it all.
Next question would be: If someone plays this strategy, where do they get the knowledge to create a 30 hour trading course? Or is everything in that course simply also loads of ****? (I never purchased any of those courses, so can't tell)
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.
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35 minutes ago, DSchenk said:
So you're saying there are people out there who have "fake live accounts" where they can simply upload any equity, place trades where they enter and exit at any level they like and then show off their insane growth rates?
Question I'm having: Where do they get all the money from to buy their lambos and stuff? And also is this not the most boring exercise in the world? Faking results and making youtube videos about it?
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.
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er, it was attempted humour, sorry for the fail.
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2 hours ago, dmedin said:
@Caseynotes
IKR? I was disappointed
I have a sneaking suspicion there might be quite a few conspiracy theory on your 'recommended for you' list 🙂
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Interesting report from DailyFX yesterday (relates to the above post).
"THE STARS HAVE ALIGNED FOR A STOCK MARKET BREAKOUT IF EARNINGS CAN IMPRESS"
"The recent US-China trade war developments have ushered in a calm atmosphere for the three major US indices, as volatility slips to notable lows – in a month where it is historically highest. That calm, however, has laid the groundwork for a potential break higher in the week ahead as market participants are allowed to shift their focus to earnings season."
Also good to see someone using implied volatility to give real-time support and resistance levels as determined by actual trades placed in the futures market.
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Friday's total equity Put volume was the highest since August 2011.
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It's so sad that the moronic Dems and the corrupt MSM simply can't find anything to impeach Trump with as that's the only way to stop him winning the next election. All the other trumped up charges have been proved fake one after the other and now time is running out. ☹️
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1 hour ago, Andybey said:
Hi,
where can i find percentage of clients long or short ?
tia
Andy B
If you are logged into IG use the search to find the instrument and the data will be on the page or you can see a collection here;
https://www.dailyfx.com/sentiment
Sentiment may improve technical analysis and enable more consistent trading, particularly for those looking to trade against the consensus. Find out more with our guide to trading with IG client sentiment data, as well as how to approach sentiment analysis in forex trading.
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7 hours ago, dmedin said:
This video popped up on my recommended list:
you didn't comment?
funny little video, I though at first it was the typical play, let me tell you some dirty secrets to show you can trust me then let me sell you something, and it was, but not really.
So he's a company and been with IG a long time and is perfectly happy and will remain an IG customer for the foreseeable future, fine but;
- watch out for the PRT backtester?
- don't be fooled by all those flashing lights?
- didn't see the clearly stated client sentiment data as a contrarian indicator note.
- the signals service doesn't really work if you just follow it blindly, or you could fade the signals, which he stopped doing because?
There you go, you have been warned ☹️
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14 hours ago, joejoe said:
Is my CFD demo account accessible on MT4?
Hi, no you have a separate account for mt4 whether live of demo. To open an mt4 demo account download mt4 and open, click 'File' > 'Open an account' > click the IG demo data feed in the pop up box, click next and follow the instructions, you will be auto allocated a user number and password. Same goes for the Live account except the user number and password arrive in two emails from IG but first you need to open a live mt4 account from your 'My IG' web page.
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16 hours ago, Joebongs said:
Why do I now seem to be charged a margin when placing an opposing bet (sell) on a specific trade when I have a buy open for the equal value. Previously there was no increase in margin eg placing a sell for £10/point on FTSE when I have a buy active at £10/point? This has occurred over the last 24 hours.
Hi, the margin isn't a charge it's merely the amount you must hold in your account to cover your bet so once a trade has been initiated the margin required is deducted from the amount available to place other trades.
Each trade has it's own margin requirement so they are aggregated and subtracted from the funds available and when a trade is closed the subtracted amount is returned to the funds available tab.
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Very rare free vid from Anton Kreil's Institute of Trading.
Why Shorts are Hard To Find and How You Can Find Great Shorts - Jason McDonald
45 min. Just published today but is from a conference in 2016.
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8 minutes ago, dmedin said:
A difficult one to know how to trade as there are so many unfilled gaps. Would never have thought the entire industry would shed so much value and be worth less than it was a year ago.
It will be clear enough on the chart, if they have all gone over sold and price first reverses here and then breaks up past the trend line.
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Still not clear how the vote will go tomorrow, will depend on Labour MPs, snap poll suggests general population support it. Merkel ready to offer an extension if vote no but Boris seems unlikely to accept.
Nick Boles MP @NickBoles "All the Benn Act does is oblige the PM to request an extension if he has not got his deal approved by the end of tomorrow. On its own an extension request cannot stop a No Deal Brexit on 31 Oct. The only certain way to stop No Deal is to vote for the deal."
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43 minutes ago, Justinian said:
Thankyou for that. It pretty much replicates the answer posted by JamesIG earlier in this thread. What it doesn't answer is why doesn't it seem to decay like VXX as the month progresses and the futures curve is in contango.
I see what you mean, don't know what IG's "standard undated method" is and though doesn't attempt to "mirror the cash VIX" there must be some reference to the underlying market within the model (see chart below).
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41 minutes ago, Justinian said:
I have only just noticed the dfb version of the Volatility Index.
The description you have of the dfb is that it seems to operate like the etf VXX?
VXX is notorious for decay because as the month progresses one has to typically sell at a higher future and replace with a closer, lower one each day.
The chart of the ig index dfb does not seem to indicate strong decay. Is that just a trick of the chart or do you have some special calculation that stops it? e.g. such as not gifting the proceeds of decay to those who may want to short the Volatility dfb?
Is there any documentation I can peruse so that I can understand exactly how it works?
Documentation on commodities (and VIX) pricing here; https://www.ig.com/uk/commodities
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The stocks in the multi-chart above are amongst the more heavily weighted on the index and it they are going to turn at key support we should see it happening here. Looks a nice ride down on the HA chart.
Is spread betting for fools?
in New to IG Community
Posted
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