Caseynotes
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Posts posted by Caseynotes
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30 minutes ago, Benj said:
Hi, brand new to IG and MT4
Trading USD/ZAR, looking to set stop loss and take profit limits through MT4 - system returns an error to the effect that either limit must be <>8000 from current price(s). This sets limits past my normal trading range for this pair, usually I hedge or profit within 1500 or 2000. Alternatively, if I manually enter the opposing trade when I'm comfortable with profits, system returns an error to the effect that hedging is not permitted. So, three questions:
1. Can stop loss/take profit limits be adjusted? How?
2. What is the minimum range for manual closing entries on this pair?
3. Are these restrictions somehow in the MT4 platform, or IG policy?
Hi, you can check the hedging setting from settings tab on the mini terminal app (download from IG's app pack), I'm not sure how to do this without going through the mini terminal. pic 1
Check the stop limit by going to Marketwatch in mt4 and right click on usdzar then click 'specification', it's currently 4400 but will change depending on session times. pic 2
IG does seem to have larger limits for orders on mt4 compared to their online platform or placing trade manually at market on mt4.
hope this helps.
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The fixing is a mid point with a 2% band permitted.
see this article from earlier this month;
https://think.ing.com/snaps/pboc-fixes-cny-higher/
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Both Dax and Dow are above the daily pivot and currently retesting so if the pivot holds will be looking for longs towards R1. Obvious strong resistance above at the daily chart resistance levels (orange).
H1 charts.
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Looks like ASIC are going to follow ESMA banning Binaries and reducing leverage available to retail clients.
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Another reversal day yesterday to remain in touch with recent resistance, Dow 26425 and Dax 11861. Ftse in tune but still lagging has resistance at 7231.
No major US news events today though there may be dips from the JH symposium.
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Looking Risk Neutral this morning, Indices mixed, USD down Bonds flat, Oil and Gold down.
Chart US 10 y Treasury.
High impact releases today Ger PMI, EU PMI. Start of the 3 day Jackson Hole symposium, news leaks throughout and can be market moving affecting positions over the weekend plus UK bank holiday Monday.
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18 minutes ago, tehka said:
Hang Seng has fallen heavily this morning despite a stong wall stree last night. It has crossed back down from 20 EMA up to 20 EMA down. If price ends below 26000 on daily chart tonight would be a good short entry
The Asian markets took a strong hit 4 hours ago but can't find any news that caused it, China indices trying to rally but HK struggling.
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2 minutes ago, Mercury said:
And just before anyone trots out the inference that Hedgeye and zerohedge are all about the crash, it seems Hedgeye at least are not ready to call a recession yet
Actually I already did this in the Indices thread back on 11th Aug, I stopped following both of them ages ago due the bearish bias > prejudice > derangement, it was like 2016 all over again, every day endless bleating about this time it's for real, at first it was boring, then it got on your nerves and you just switched off, and then the Trump election win and the bull run was up and away again, just like that, oh how we laughed.
A recession is min of 2 consecutive quarters of negative GDP and has happen twice since 2000 but look to the poor GDP leading up to it, currently US GDP remains strong.
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6 hours ago, dmedin said:
Any chance of getting a bit more of a balanced view? This guy sounds like a Thatcherite fanatic.
Actually I thought Corrigan was pretty good and pretty much spot on in his general take on a multitude of economic topics, there was no political agenda and of course it was his view so to get balance -er, find someone else with a different econ view?
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11 hours ago, elle said:
This chart suggests price is breaking down, I wonder what that means for the world's economies ?
Good piece on copper here from CME focusing on it's strong links with the Chinese economy and the very low current implied volatility.
"Copper closely tracks growth in China, yet copper options prices tend to be closely related to U.S. monetary policy. How will Fed rate cuts impact the metal? "
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4 hours ago, tehka said:
A bearish engulfing pattern appears on Dow daily chart and have bounced off 20EMA.
Yes, I saw that falling away last night but trying to recover since, await the London open with interest, so far Dax and Dow have recovered half of yesterday's losses.
H1 charts;
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A bear reversal bar yesterday but so far no continuation. Dax on the weekly chart support level (red) 11608 and Dow trying to retake 26000, HK50 stays within striking distance of daily chart resistance level 26419 (orange).
Daily charts;
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Overnight Indices up Bonds down, USD up Crypto down. Chart BTC weekly.
High impact today is Canadian CPI at 1:30pm and the minutes release of the last FOMC mtg 7:00pm.
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Dax tested yesterday's high this morning then back down to test the pivot just now, Dow also at the daily pivot little moved by the London session and waiting for the US open.
H1 charts;
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2 minutes ago, tehka said:
If price ends the day around 26200 followed by a red candle tomorrow below 26000, this is a pattern known as "doji evening star" and is signal the price may reverse down.
True the London session has been weak and so far resulting in a pause bar on all the indices but may see some action come the US session. Ftse is the exception which is trying to play catch up.
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Gold hanging on to 1500, support below at 1452 weekly chart resistance turned support (red) and daily chart support at 1479. The recent high 1537 is prior support turned resistance from the monthly chart (green). RSI on the monthly just creeping into overbought.
May react to any news coming from the Jackson Hole symposium over the weekend and US prelim GDP next week.
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2 minutes ago, dmedin said:
Where do you see the shorting?
I think they were referring to short vs long positioning stats, may have changed by now.
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Looking for continuation upward today though as ever may see a check of the Pivot first though already well on the way to R1. Yesterday's highs immediately ahead, Dax at 11761 and Dow at 26238.
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2 hours ago, pdsman53 said:
Hi,
How do I sign up to a Spread Betting Account, on U.S. Stocks?
Hi, you can see which accounts are available for your location from your 'MY IG' page and click on the 'Add an Account' blue tab. Spread bet accounts are a type of CFD account available in the UK.
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3 hours ago, IGA said:
Hi
I tried to "book a place" for live webinar on this link. I can't proceed to book a place because it keep asking me to "Login"
I have a workable IG live account since i can login to this forum but i can't book a live webinar session. Any idea why?
Thanks
https://www.ig.com/sg/learn-to-trade/ig-academy/sessions
HI, the community page and the IG web home page have different portals so need to be signed in for both may be the problem. Try the Academy after logon on the IG home page.
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All continuing to grind higher, included HK50 which is in step with the others. Dow still reaching for 26425 and Dax 11861. Ftse is the lagger trudging up towards 7304. HK50 and China 300 buoyed by another new China econ reform package effectively lowering interest rates.
S&P back up to 29407 monthly chart resistance (purple).
Daily charts (S&P weekly);
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Overnight Indices Oil up, USD down, Crypto up, Bonds and Gold up. Chart DXY weekly.
Nil high impact data releases today.
Advice on avoiding ESMA restrictions
in General Trading Strategy Discussion
Posted
Ouch, ASIC are looking to outdo ESMA;
proposal for max leverage of 20:1 for fx, down from 200:1 (esma 30:1)
15:1 for indices from 200:1 ... see list below.
page 46; https://download.asic.gov.au/media/5241542/cp322-published-22-august-2019.pdf