[Indices]

Strange week really for the indices. just loitering around so far, not willing to push on but not wanting to pull back either.

Asia markets down overnight while Europe and American markets up slightly. On the calendar today is US retail sales at 1:30 and US consumer sentiment at 3pm.

FOMC next week with a surveyed 20% chance of a rate cut while the end of July FOMC meet is 80% (FOMC meet 8 times a year) and in between is the G20 at the end of this month so plenty of market moving events just round the corner 🙂

 

[Is spread betting for fools?]

1 minute ago, nit2wynit said:

@Caseynotes you'll see i did say, I would most likely NOT do this for real .  i also said it was the chart and Set up that was what i was looking at.  Therefore any size bet would deliver.

However, with more certainty in my chart reading, I dare say I might in the future.  However, my plan will not be to SB at that point but to literally Buy the Shares and Sell.

👍

[Is spread betting for fools?]

3 hours ago, nit2wynit said:

Margin £1800, buys me £170 pp.  2pt spread put me under £340.  Moved 4pts in seconds.  £340 profit.

@nit2wynit, not wishing to be rude but you probably won't realise this is never going to work until you try it on the live platform. 

With a bet size of £170 per point on a £2000 account you will sooner rather than later enter a trade with your 2 point spread only to find price immediately backs 3 points against you, you will then instantly s**t yourself and bail for a loss of 5 points and a loss of nearly half your account in the space of 3 seconds flat. After that you will probably never dare ever trade again. It just isn't a sustainable course of action

1 hour ago, dmedin said:

There's no 'way' to do it.  I'm beginning to come to the realization that it's all a massive con and a crock of shizzle (day trading at least).

When I go to get my car serviced I expect the mechanic to have some experience in the hope he will do it right, that's why I don't do it myself. I could try to learn do it myself with the help of a self help book or whatever but I suspect it might take some time to learn and that the car might take some damage in the learning process.

[why do i get this everytime i trey to close the deal]

1 hour ago, paja44 said:

Deal rejected

14:41

Portugal 20 (€1)

You have requested a closing transaction but either you have no open position in that market, or the size is greater than your existing positions.

Hi @paja44,  have you tried closing the position from the 'Positions' tab, see picture below;

[Indices]

 

[Indices]

Interesting daily candle on the S&P heading into the US market open;

[How will the Tory leadership race affect Brexit]

Round 1;

[US OIL]

Latest report is that this ship pictured has now sunk and that the 44 rescued crew from both damaged ships have arrived in Iran. 

[Dax & Dow]

2 minutes ago, Roadrat said:

Any ideas where the dow is going next please?

Dow is long term bullish, medium term neutral and short term bullish. Currently held up at R1 26094.

If able to break up through R1 the next target is R2 at 26160.

If unable to break upward through R1 will look for better support further down first at 26060 and if that fails will look to the pivot at 26022.

[US OIL]

40 minutes ago, Caseynotes said:

Scrub the picture above, was taken from a pic library and is not of the incident today.

Try this one instead 🙂

[Chart tutorial]

6 minutes ago, Woo said:

Hello everyone. I’m a newbie and could really do with some help on just understanding the chart layout and what all the buttons mean?! Is there an IG tutorial that I’ve missed?

Thank you

Hi @Woo, see this vid;

 

[US OIL]

Scrub the picture above, was taken from a pic library and is not of the incident today.

[US OIL]

16 minutes ago, Caseynotes said:

Luckily Iranian ships were on hand to rescue 44 crew members from the two stricken vessels.

[US OIL]

Luckily Iranian ships were on hand to rescue 44 crew members from the two stricken vessels.

[US OIL]

Reports that torpedoes were used in the attack on two oil tankers marks a big escalation of conflict in the sea of Oman if true.

[US OIL]

The oil tanker news spreading now is coming out a bit late, the Iranian (pob perps) news agency released the news early this morning so the initial price surge in oil has all ready happened.

 

[US OIL]

US Oil checks support around 50.69 and on it's way to check resistance up at 54.73, currently at 53.00.

[Gold Heading for 1324]

Gold currently capped by 1338 and can't seem to break out, will need to check support before too long.

H4 chart;

[Indices]

Nice site;

https://www.teletrader.com/markets/overview

[Indices]

Looking like a day of searching for support, not much on the calendar, EU indy prod m/m at 10am expected to be -0.4 might rock the Dax.

Dow will be trying to hold at S2 25878 while resistance is up at 26087.

Dax trying to hold above 12065 and has resistance overhead at 12133.

[Is spread betting for fools?]

7 hours ago, davidbrister said:

Nice video @Caseynotes, LOL

 

Published in 5 years and 3 Fed chairs ago and still just as relevant today as it was then (pardon the swearing but it's an important point that needed to be made 🙂).

[MT4 Invalid Symbol]

7 hours ago, Gaffer142 said:

I have several EAs that I have moved from another provider (also using MT4). Every time I try to place a trade with IG, I get an invalid symbol error. I notice all the symbols have (£) after them which I presume is the problem. Is there any way of removing this suffix?

Hi @Gaffer142,  the (£) symbol shouldn't be the problem as it is present on all assets and no one has identified it as a problem for EAs before. I presume it identifies your account's base currency. see pic below.

[US500 JUN19]

1 minute ago, Foxy said:

@scuttsy

You should check your settings for rollovers, go to my IG then settings then rollovers and check you have rollovers enabled if you have a problem with that ring the customer services and ask if you have rollovers enabled.

Good point @Foxy

[US500 JUN19]

50 minutes ago, scuttsy said:

Hi all.

Im holding a US500 JUN19 futures contract (spread bet) Does it automatically rollover to the SEPT contract at the end of June, or close...?

Thanks in advance

 

Matt

Hi @scuttsy, yes, unless you yourself close the position it will automatically be rolled over, so closed and re-opened, so you repay the spread though at a discounted rate.

[Is spread betting for fools?]

4 minutes ago, dmedin said:

Look how clear this is on the day chart with multiple confirmations ( < 200 SMA, Fib levels, break of trend lines)

Fair enough but the main thing is you have a simple strategy that you can practice over and over til you are good at it, like 'buy the failed dip' (sell the failed rally) which is the most common strategy going and has nothing to do with indicators and patterns.