Caseynotes
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Posts posted by Caseynotes
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26 minutes ago, DoctorStrange said:
Hi,
I was just wondering whether there is a way to book a short spread bet or CFD position (on a single US stock) which is fully funded (i.e. using 100% margin) so that I wouldn't have to pay overnight funding costs? I just remember it being an option on other platforms I've used in the past e.g. CMC markets.
Thanks.
Hi, to avoid overnight funding it would need to be a Forwards (futures) contract. If available then on the left hand top corner of the chart next to the asset name will be a choice of spot/cash and forward/futures, the spread is higher but there are no overnight funding charges, on rollover, usually 3 monthly the spread is paid over again.
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28 minutes ago, nit2wynit said:
BTW. Pivot Points are a great Help
Glad to hear re pivot points, they need to be assessed for each market but they are so related to H4 and daily support and resistance levels they should be good for most.
The limit line is your take profit level, if you click and hold you can slide it as far up as you want.
The entry level is on the left column and will just say +/- the position size while the stop and limit above and below will say the amount to lose or gain.
This is basic stuff, you really should find the time to look at the academy
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1 minute ago, dmedin said:
MT4, lower latency, better indicators, downloaded onto pc, can run simulators, has built in trading performance metrics logging, ... just off the top of my head.
But it doesn't do stocks/shares though.
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56 minutes ago, nit2wynit said:
Ahhh, it must be the Spread?? So it's a guide to minimum Stop level, but add the spread also, if you wish.?
I don't use this platform to trade on but are you sure this is right, if you've pressed buy to go long and the chart price is set to mid and is 3291, the spread is 18 points then 3291 plus half the spread (9 points) is the entry at 3300.
If you had set the chart price to bid instead of mid you would see the whole spread on entry as the chart price would be 3282 + 18 spread to give entry price 3300.
I don't know what that grey area underneath is.
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28 minutes ago, StopHunter said:
Could we see a test of the highs again? SH
Very possible SH, btw, if you want to post a full chart without any trade or personal details just click 'export chart' from the others list (3 dots) and a copy will be placed in your downloads folder
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After a morning on the slide Dax and Dow attempting a turn around.
M15 charts;
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BTC had another try to break the old support turned resistance level mentioned in this mornings post, rejected again which just shows how important these support and resistance levels are.
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3 minutes ago, sid-shanker said:
The executive on the phone mentioned that due to falling liquidity of the contract, they have stopped allowing to open positions in this contract. Is there any other 3x leveraged ETF of QQQ allowed still to be traded by a retail UK investor, listed with IG.?
ok, I did put an order on just to check before I posted and it was accepted but just now trying again it's not.
these came up in the search for QQQ though the boost pair were 'for closing only'.
see below.
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15 minutes ago, sid-shanker said:
Any help would be greatly appreciated. As the platform is not even giving a reason for the OrderRejection
Hi, you have the Deal ticket up which is a 'at market' order but the market is closed, if you switch to the Order ticket next to it should be fine. see pic below.
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1 minute ago, PureGain said:
I phoned IG and the guy said it was £8.00 to open the CFD trade and then £8.00 to close
I think they may have misunderstood, the £8 would be commission on a share trading account. The SB and CFD work differently, there are no fees other than the spread you pay to enter a trade. If you pay tax in the UK the SB account type is the better option. £1000 is enough to start trading though you would need to keep your position sizes quite low but you will see how it all works on the demo platform.
See this page https://www.ig.com/uk/spread-betting/spread-betting-vs-cfds
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8 minutes ago, PureGain said:
Hi, I hope someone can help me, I love the IG platform but I'm not sure if a small trader could make a profit with their fees, Id like to start with £1000 is it worth going in with this amount. I am thinking that you may need to a lot more to absorb the fees. Is anyone in my situation, thanks
Hi, are you referring to a share dealing account or are you meaning a leveraged spread bet or cfd account?
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3 minutes ago, dmedin said:
I use the IG platform much more extensively for actual trading. I find PRT to be clunky, and I don't like that it relies on Java. Since I'm not coding algorithms or backtesting I don't need to be using it so much (although I plan to learn more about that). It does also look nicer.
All platforms (in my experience) will start to slow up depending on how many open charts you have and how many indicators each is running. Though total computer memory and cpu does make a difference the platforms themselves seem to have their own limitations keeping up max speed for tasks such as loading new charts.
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Both making a positive start this morning, Dax sitting on R1 and Dow just below. Yesterday's daily charts look to have put in a higher low and there is the prospect of continuation upward today.
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BTC and bears making use of an old support/resistance level around 10830 (green line) to turn price down, price now looking for support.
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Gets a bounce up off 55, now uncertain of direction, may pause here.
Daily chart;
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Gold daily sees a break of the late June high 1439 that appears to be now acting as support.
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Daily's and Dow heading back up towards the highs and the others are following, Ftse needs to clear 7527 again and Dax is back up to 12300 which may provide some resistance.
A look at the S&P H4 and an up trendline from mid June gets a forth touch.
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Overnight Indices up Bonds down, Oil up Gold pausing after recent breakout, Crypto down. Chart Gold.
Ger PPI 7:00, UK borrowing 9:30, US consumer sentiment 3:00pm.
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From this morning post BTC went for the retest of the low but didn't get there, then stormed back through 10,000. Now at 10570.
H4 chart;
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4 hours ago, RAD said:
in order to trade US equities, who do i need to send my W-8BEN form to?can i email it in? how long after i have emailed it can i trade US shares?
Hi, you should be able to do this online from your 'My IG' page after login. See https://www.ig.com/uk/investments/share-dealing/important-documents
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33 minutes ago, nit2wynit said:
You've mentioned Academy.
Is this the best place to start from scratch?The Academy is good and won't take long to get through (recommended 1 month ago).
The Cred Study Guide is better and will take a little longer (recommended 2 weeks ago). do the guide first watch the videos later.
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4 minutes ago, nit2wynit said:
@Caseynotes to the chart above that is my Ascending wedge. the diagonal yellow line from the lowest point to the spike.
Yes you are framing the chart to see what you want to see rather than just what's there, you can't see a wedge by just ignoring the prior peak ( 2).
The chart structure is saying;
1 tried to break lower from S1 - fail.
2 tried to break higher from S1 to the pivot, got a good distance then failed and fell back to S1.
3 tried the same move again and even worse failure.
4 try again, dismal.
the next most likely move was another try lower towards S2. But then came the news flash and the sudden move up, as usual it was overdone and price has since retraced 50% (white line).
If you look too hard at a chart you will eventually see whatever you want.
From the book of Cred verse 19. After enough screen time, you should be able to look at a chart and within a very short time ascertain if there’s a trade there. It should scream at you. If it doesn’t, there’s probably nothing there.
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30 minutes ago, nit2wynit said:
@Caseynotes So what does work for you then?
Tis not scoff, I'm not keen on patterns on lower time frames, if you look hard enough you will see them everywhere though can't really see your wedge at all. I stick to dip buying between significant levels.
Price was moving sideways along S1, I was waiting for a pullback on the way to either to the pivot upwards or S2 downwards.
Price did move up and there was a pullback but without much continuation, price fell back to S1 when the news sent it parabolic upward. These moves are usually overdone and a steady correction is the most likely move to follow.
I see from your more recent post you mean a channel and are jumping around on the time frames to find it, on the start of the impulse move there was no channel or wedge, only a trendline of sorts (2nd chart) with a lower high failure before the news. I am reminded why I don't like patterns on lower time frames.
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39 minutes ago, dmedin said:
I agree, day trading (minute trading) is based largely on luck
And the init2winit cried "Oh Dear God! Help Me!"
And the demin cried Oh tis "based largely on luck."
And God looked down and took pity and spoke thusly "A system means an actual system. Rules, diagrams, flowcharts. Not platitudes." From the Book of Cred verse 18.
https://www.crypto-world.gr/en/trading/cryptocreds-70-trading-advices/
Is spread betting for fools?
in New to IG Community
Posted
To make things a little clearer, when I said 'are you sure about this' what I really meant was that you are totally, utterly and completely wrong.
As the old saying goes there is nothing wrong with being wrong, it's the staying wrong that's the problem.
You need to look at my drawing on your chart pic again;
The 18 point spread is the 9 + 9 points either side of the chart price (which is set to mid) as I have drawn it. No, it's not 30 to 60 points away from the chart price in your shaded area below your stop loss. The stop loss is 34 points away from entry at 3300 for a long or 34 points away from 3282 for a short, the spread is already built into the stop loss.
LOL, as you say, you've been trading since Feb and you thought the limit line was the entry line and you have no idea what the spread is or where to find it.
yeah, basics.
I know you get confused as I have to post many corrections to your posts, what gets me though is that you always hold onto wrong for so long. And this must be the fifth or sixth time I've tried to help with one of your little 'misunderstandings', each time is meet with instant knee **** denial, in the meantime your account balance has gone from £2000 to £900. The clock is ticking down so probably best not to insult those who are trying to help