Caseynotes
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Posts posted by Caseynotes
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5 minutes ago, dmedin said:
I've heard that weed products in California are super high quality but very expensive.
I'm still not sure what the actual products are. Is it just recreational use or are there pain relief/symptom relieving health type products?
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22 hours ago, Fib550 said:
Hi,
I want to hedge a spot bitcoin long position using IG CFD, and I want to use the BTC GBP1 product as I dont want to pay the currency conversion fee due to my account being in GBP.I have the following questions:
Is the BTC GBP1 product suitable for this purpose? Say I want to hedge 1 bitcoin, which is valued at 8000. So I take out a position size of 0.78 in the BTC GBP1 market due to the GBP USD exchange rate being 1.27. So now I am moving at 0.78 pence per dollar Bitcoin moves.
However, with the GBP USD exchange rate constantly fluctuating, will this work? Will changes in the GBP USD exchange rate affect me being in a 1:1 position against BTC USD?
I am really struggling to get my head around this.
Any help is appreciated.
Hi, similar answer to your other question regarding 'contracts for difference' and currency conversions. Regarding hedging both BTC and GBP, IG only does BTC/USD and I don't know of any broker that does BTC/GBP but interestingly the charts look almost identical.
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21 hours ago, Fib550 said:
Hi,
I wanted to check if I understand the currency conversion fee properly.
Example, I want to long the GBP USD, my account is in GBP.
Position Size: £10,000 GBP
Rate: 1.27
Purchase of USD:
Amount of USD that would be bought without currency conversion fee: $12700
Amount of USD actually bought after 0.5% currency conversion fee: $12636.50If the rate stayed the same at 1.27, here is what I would get back in GBP:
USD Value: $12636.50
Amount of GBP that would be bought without currency conversion: £9950
Amount of GBP actually bought after 0.5% currency conversion fee £9900.25
So a round trip of currency conversion fee costs add up to £100, or 1% of the original £10,000 position.Do I understand this correctly?
Hi, no because you are trading fx on a cfd or sb type account so you are not actually trading the underlying currency and won't be taking delivery of the underlying. You are only trading contracts that track the underlying so your position size is the number of contracts you wish to buy at $10/point ($1 on the mini) so if you buy 1 contract and price rises 1 point you have made $10 profit which is then converted to £ in your account if the position is then closed.
The fee on the trade is the spread difference between the buy price when you bought and the sell price when you sold.
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Spread bet size calculator web page giving bet size in £/point for account size, % of account to risk (or money amount) and stop loss size. (see pic)
https://www.earnforex.com/spread-bet-calculator/
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Interesting set of charts;
1d
Are "High Times" about to return to pot stocks? After large declines, these stocks are each testing support at each (1).
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Another pause candle for Dow yesterday while Dax puts in something akin to a gravestone doji, Ftse remains out of sorts and out of step with the others and ASX taking the China GDP miss badly. May see some selling off going into the weekend.
China GDP historic graph below 2004 - 2019.
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Overnight a China GDP miss, Indices and Oil down, Bonds and USD up. Chart natural gas HA daily.
Not much on the calendar, Fed speak this afternoon.
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On 16/10/2019 at 13:42, kevinmount said:
Hi,
I've been led to believe that spread bet positions always have expiry dates. Can anyone tell me how you can see these dates as I've had a really good look around and cannot see them.
Thanks in advance,
Kevin.
just to add to bigdeal's reply SBs can be either cash/daily funded bet or futures/forward which have a separate chart accessed from the dropdown box next to the chart title.
for cash/dfb there is no expiry but you paid an overnight interest fee, this charge does not apply to futures/forwards which have a larger spread instead.
see pic.
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On 15/10/2019 at 15:25, Caseynotes said:
"EEM is up to its declining tops line, and ahead of the SP500 getting to its equivalent line. This could be the start of EEM leading the way higher. When the two have a disagreement or divergence, EEM usually ends up being right about where both are headed." Tom McClellen
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3 hours ago, Caseynotes said:
The deal has been signed but not released yet so few know what's actually in it. DUP not in agreement with final text but the EU is likely to say this deal or no deal in which case it is likely to be pasted by the house even without the DUP.
This looks like playing out, parliament has voted to sit on Saturday to vote on whether to accept the deal or not, Junker has just confirmed there can be no extension so the vote on Saturday can only be a vote for this deal or a no-deal brexit on the 31st Oct. The 10 DUP votes should not be needed for a win.
The deal gets us out of the customs union but stay in a partial regulation union.
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The deal has been signed but not released yet so few know what's actually in it. DUP not in agreement with final text but the EU is likely to say this deal or no deal in which case it is likely to be pasted by the house even without the DUP.
Just published
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All heading up on confirmed reports the brexit deal is signed, done and dusted and a leave on the 31st Oct.
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6 minutes ago, Graham said:
Demo account faulty.
I have entered buy trades on the TAIWAN INDEX this morning but could not complete the trade, I then looked in my history and noticed they had immediately been registered as losses of £30 each trade.
yes, there does seem to be a problem, the ticket says the min stop is 1 but it's actually 30 so the stop needs to be moved that far or it just sits on the entry and will instantly stop out the trade on entry.
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4 minutes ago, dmedin said:
Really? I would follow the charts ... everyone (including Reuters, the IC trader) was saying the pound can't possibly keep going higher, then it will go higher because old shorts were being unwound, and now it can't possibly go higher, meanwhile it keeps going higher and higher ... follow the charts, ditch the preconceived notions about what the market 'should' be doing, right?
the problem is the constant stream of contradictory news, it's like a drawn out central bank chair presser with price reversing at the end of every sentence. so you get a chart with lots of spikes and candles with long tails both directions, that's hard to keep up with and takes a lot of concentration as there is no confidence in the longer term direction.
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11 minutes ago, DSchenk said:
Not got anything out of the market today either.
Gonna look for new strategies, different assets, different timeframes, ...
Any suggestions welcome.
Also probably back to Demo for a while.
yes, keep away from ftse and gbpusd until brexit is sorted, yesterday was deal done, then last night no deal, then this morning deal done at 2am news released about half an hour ago, that's why it's all over the place.
look at these dax and ftse HA M5 charts.
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Dax moving up to test yesterday's highs, Dow powers up to the pivot, if Dow can break the pivot Dax should see R1
H1 charts;
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A pause day yesterday for Dax and Dow while ASX had a strong up day but reversed overnight, Both Hong Kong and China are up slightly. A Brexit deal was expected last night but nothing materialised, gbpusd as a consequence was pushed higher yesterday but falling back today, and as a consequence of that Ftse was down yesterday and improving today.
After a pause candle direction is unclear, the Dow ATH is just above but will need some incentive to attack it, Dax will try to hold onto the recent gains and the monthly chart resistance level (purple).
Daily charts;
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Overnight Asian Indices up, Bonds and Gold up, Oil and Crypto down.
UK retail sales at 9:30, US housing and employment data plus the Philly Fed manu survey at 1:30pm and indy prod data at 2:15.
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16 hours ago, Bluepass1856 said:
I have three open positions on the euro/us on my demo account, but every time I try to close the positions it says you have no positions to close - any ideas
Hi, this glitch turns up on demo very occasionally, you will need to email the helpdesk and ask for a tech to remove the trades from the account.
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16 minutes ago, DSchenk said:
Thanks for the analysis @Caseynotes
Should've avoided the 'market open whipsaw' clearly
Not too sure yet about that Stochastic indicator. Why not just use an RSI instead? Seems to look similar to me, but RSI looks simpler with only one line
yes, good point, both are very similar (rsi and stoch) and both are good at picking up divergence which shows a lack of enthusiasm to keep pushing price on. So really just a matter of preference but don't use both as they are trying to tell the same story and discrepancies will confuse the issue. I prefer stoch because of the more pronounced wave rhythm, you can use the 2 line cross or remove one line and use the break out of obos (over bought/over sold). RSI I like the bounces off 50.
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yes, brexit schmexit, the usual discourtesy towards other's opinions, the gold bar is the one you've been holding since the beginning of 2016 which is how long I've been laughing for.
anyway.
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5 minutes ago, Mercury said:
My view is that we are at the end of a major bull cycle
That's always your view, has been for years, but the market just keeps ignoring you 😆
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31 minutes ago, DSchenk said:
No clue how to trade this - might need to look for another strategy cause this doesn't seem to work out for me
Ftse is normally quite tame but the brexit uncertainty is causing a lot of whipsawing on the market open, might be better to let that period pass before jumping in. Indicators can't keep up as new orders are processed and new volume is just dumped on the market.
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5 minutes ago, DSchenk said:
Love that. Would prefer that curve every time vs the mostly flat curve of the average Joe going steadily from £0 to maybe £250k over a lifetime. Where's the excitement there?
yes, but somewhat erratic and 'all or nothing', though they were very erratic times. Looks like the 'curve' of someone who might have some kind of bipolar disorder and was certainly enough to make him want to put a gun to his head.
Dax & Dow
in Indices and Macro Events
Posted
Dow bulls trying to secure the pivot while Dax also struggling to make headway.
H1 charts;