Caseynotes
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Posts posted by Caseynotes
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Alt possibility.
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39 minutes ago, JMWood said:
What is order level?
Hi, the order level is the price at which you want the order activated.
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5 minutes ago, stefanvgnz said:
Hi - for some reason lost access to demo login - not sure what went wrong, but worked OK last week.
Hi, check the feed from IG via File > Open an account and also check the details of the existing demo account.
You may need to open a new demo account.
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35 minutes ago, Dazd said:
I have heard the ticket has to be open for at least 3 to 4 days. So far it's costing me money not being able to close.
Hi, never heard of the dealing desk not being able to close a live account trade by phone before, contact them again and log the call.
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20 hours ago, JamesIG said:
Hey folks - let me get our Trading Services IT team on this. Apologies the thread slipped past this morning.
Hi @JamesIG, could you pass this on to tech, (mini terminal 'Maxi' mode Live Account);
- change lot size in top box = platform shutdown.
- press LDR (ladder) = mini terminal freeze.
- change vertical price scale with open trade = on chart labels get stuck and mini terminal freeze.
love the look of the thing though 🙂
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3 hours ago, tradexr said:
Hi guys,
I am new here and getting started in this new journey.
I decided to start with Indexes until I grow a bigger account.
How do I know what Exchange are the Indices shown in IG traded?
I would like to trade at closing of each market, so how do I know if that market is still opened or not?
Thanks in advance.
XR
Hi, IG get their prices from multiple sources to provide a 24/5 market so not just from a single exchange.
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Both starting out below the pivot suggesting an initial test of support most likely. Ger CPI data just came in as expected but has the econ sentiment at 10:00 may be very bad if the run of poor data over the last months continues.
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Dax resting on the weekly chart support level 11608 may be in trouble with econ sentiment data at 10:00am on top of the 3 month and 10 year bond yields inverting.
Dow put in a strong directional bear bar yesterday, unclear if it has found support yet so will be watching closely.
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Overnight USD up, Indices rebounding, Asian markets down, Oil down Gold up, Bonds mixed. Chart Caterpillar down 2.2%
GB ave earnings 9:30, Ger econ sentiment 10:00, US CPI 1:30pm.
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I've posted this before but forgot which thread, seems like a good time to give it another airing.
https://www.theforexguy.com/guide-to-heikin-ashi-candles/
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Dax completes a trip to R1 then down to S1.
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11 minutes ago, Mark8787 said:
I thought a trailing stop would only require Distance and Step inputs. Does anyone know why the iPad app still displays a Stop Level input? The chart displayed a red line for the Stop Level at 210 but no line at the 1500 distance. Is it using two stops? E.g. the Stop Level initially then at some point the Distance instead?
Not sure about the app platform but the mt4 will allow this as well, it means you can have an initial tighter stop and a larger trailing one, the trailing one only comes into view once it has overtaken the fixed stop level which disappears.
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update on the gremlins in the new mt4 maxi mode in the mini terminal app, it seems fine if changing volume (lot size) using the new drop down tab inputs but if changing via the top numbers screen, not freezing now but rather just shuts down mt4 altogether. @JamesIG
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After an hour of nothing on the European open Dax moves up on the London open towards R1 (taken from Friday's data, not Sunday's) Dow in pursuit.
H1 charts;
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Just to update the link to COT charts as the previous one above now asks for registration you can also find them here.
https://www.barchart.com/futures/commitment-of-traders
Also see the Gold monthly chart and 'COT Jaws' below, a really good way to highlight what the COT graphs are trying to tell you
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JPY bank holiday today. Light week for news this week so will be interesting to see how the indices handle the recent resistance levels clearly marked.
China 300 chart added though I think IG might be phasing that out in favour of the more popular China 50.
H4 charts.
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Overnight USD down. Oil down and Gold up, Cryptos down. Chart Bund takes a breather (not sure why there are no Friday candles on the Bund daily chart).
Not much on the calendar for today.
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If you like Heiken Ashi hindsight you'll really like Renko hindsight.
This is a MeanRenko chart (sort of a Renko/HA crossover) of that 5 minute 500 point drop on BTC yesterday.
10 point Renko blocks with WPR obos exit arrows and a 120 Hull MA.
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Though I've written a lot about this since early 2018 pointing out every confluence of the market highs and Trump ratcheting up the stakes in the trade war others on twitter now doing the same (see pic below), it's worth revisiting this as the cycle keeps repeating itself so let's review the causes.
A long while ago China and the WTO reached an agreement whereby China agreed to certain commitments and would be allowed full access to world markets, great, only China then reneged on the commitments while enjoying booming exports. Obama and Merkel decided to do nothing. That caused a bit of a problem, if you're playing Monopoly and someone is cheating they will end up the winner if no one is prepared to challenge them.
Along came Trump, he decided to take on China and it's intellectual property theft and restriction of foreign access to the growing Chinese market (no FANGS here for a start). And so the trade war begun.
Trump was smart, only attack from a position of strength and avoid using the anti Trump Main Stream Media for announcements. So when the US indices reached a high in early 2018 he announced the first salvo of tariffs on China using twitter and thus avoiding any twisting of the narrative by msm, it was a boon to traders, real news in real time and no subscription fees.
The market plunged, there was a pause then a second wave down on the news of Chinese retaliation, then a stop. With no new news the market could only look back at the fundamentals for direction and they were good for the US economy, the market headed back up.
Four times Trump has repeated this tactic over the last year and a half and it keeps on working, the Chinese economy keeps getting hit and slips deeper into the mire while the US economy remains strong.
A lot of amateur traders say none of this matters, it's all down to technicals and anyway they have all possible scenarios built into their trading plan, yeah right but the fact that the immediate future is being telegraphed to you via twitter should make you sit up and take notice.
Hard hit in all this have been the permabears who believe every downturn is the one they've been waiting for all these years, 'this is finally it, the great crash', but they are confounded each time, the thing is strong economies don't just crash, oh 'but what about the debt?'. Permabears have a self imposed blind spot and that is Japan and MMT, Japan with it's huge debt was supposed to sink into the sea years ago but there it still is, the permabears should be doubting their longterm bias but they are all so immersed in the echo chamber with the likes of Hedgeye and Zerohedge they just can't see the obvious.
So you have a market that is clearly being driven by urgent fundamentals and that means technical analyst becomes less relevant to the point of being not relevant at all simply because those in control of the market are no longer using historical data as reference points, they are making fresh calculations as to true value with each new piece of information on a continual basis, that takes a lot of resources that are simply not available to retail traders, so retail, as ever, can only catch the prevailing sentiment and try to hitch a ride regardless of whatever they might have drawn on their charts.
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MT4 seems to have been upgraded at some stage though still the same Build 1170 I found that if you download mt4 now the file size is twice the size of the one I had, also the apps pack file is bigger and now has the Excel RTD (real time data) App.
MT4 itself looks the same but seems more stable, there used to be occasional fraction of a second dropouts that were only noticed because of the sound alarm but not getting any now, there are obvious extras are in the app pack, I haven't look through them properly but did notice some nice changes.
There are additional features on the mini terminal but they are not working properly and are causing the interface to freeze on the live platform (perhaps you could pass this on @JamesIG), the new price ladder allows orders to be placed directly onto chart and the new 'maxi' mode also looks good but changing the input values or even changing the vertical price scale will freeze the mini terminal and the only way to fix is to delete the chart and redo. The mini terminal works fine (as it always did) if the new features are not enabled.
Also as noted in another thread Autochartist seems to have gone? @Archeon.
I found this link below to educational videos for the apps was very helpful (produce by another broker so may not be exactly the same as IG)
https://www.thinkmarkets.com/uk/tools/mt4-super/mt4-super-apps/
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On 09/08/2019 at 22:43, Izzet said:
Hi @Caseynotes
On demo account for MT4 I can order 0.01 lots. Is it not possible on live accounts?
Also what I wonder is the overnight charges on those types of lots. Is it the same formula*lot percentage?
Thanks.
Izzet
Hi @Izzet, the mt4 demo platform uses metatrader lot sizes which if I remember right goes down to 0.01 which equates to 10 pence per point but the live platform used IG lot sizes and only goes down to 0.10 but that still equates to the same 10 pence per point and so a £1.00 lot size is £1 per point on the live platform. A bit confusing I know.
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19 hours ago, dmedin said:
I watch the PIA First trading suggestions quite closely and notice that they often don't act on their own trades.
Better to think of the two signal providers as computer generated chart pattern screeners, so if you are interested in particular chart patterns but don't want to be constantly trawling through all the markets check the signals, go over the suggested trade and check it suits your requirements especially the risk reward factor as sometimes they are very poor.
The trade picked out in the OP is clearly a glitch, the trade was stopped out for a small gain months ago but not removed from the list for some reason.
Both providers have their historical stats posted on their respective web pages.
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Useful new IG article on trading gaps and especially on the different types of gaps and which are likely to get filled and those that may not.
https://www.ig.com/uk/trading-strategies/how-to-trade-using-price-gap-analysis-190802
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Interesting Dow daily chart for Friday with strong buying for the last hours into the close giving a long tailed pause bar, whether a prelude to a reversal or bear directional continuation may be determined by any China response over the weekend so worth keeping an eye on the Weekend Dow.
MT4 Demo login
in IG Account Support - MyIG Help
Posted · Edited by Caseynotes
I've not got a demo account activated at the moment so can't check, try 'scan' from there and also from the bottom right connection box and choosing a different data center (bottom pic)