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Caseynotes

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Posts posted by Caseynotes


  1. 1 hour ago, larrytradingltd said:

    Yep, I've found this repeatedly on all of the top gappers. I don't think I've found one that I've been able to trade yet, which is pretty frustrating if that's your strategy. To be fair to IG I really like their platform and use it to trade mid/large caps and etfs but I've opened an Interactive Brokers account for the small cappers.  

    sounds like you have been suckered in by that scammer ross cameron of warrior trading 🤕


  2. 1 hour ago, larrytradingltd said:

    The difference being that you are not being linked to an exchange and actually purchasing a share of a stock from a seller.

    neither SB nor CFD are linked to the exchange unless you are dealing through the DMA platform and even then you are still dealing through IG.

    1 hour ago, larrytradingltd said:

    You are taking a 'bet' against which way the market will move

    you are taking a bet on a move in the market, someone must cover that bet, who? it can only be either another buyer/seller or IG.

    1 hour ago, larrytradingltd said:

    You are taking a 'bet' against which way the market will move. (Hence 'spreadbetting') Which is why you can always get filled on an order at any price, buying or selling, because you are not actually buying or selling a physical share from one of the many exchanges.

    you can't get filled if no one takes the other side of the bet, WHO? it can only be an other trader or IG and as I've already said it's obviously not IG or you would have got your fill automatically.


  3. 1 hour ago, larrytradingltd said:

    Sorry I think you're missing what I'm saying. IG isn't purchasing the actual stocks from an exchange, it's purchasing the data and then you are putting money on whether that price goes up or down

    this doesn't make sense, you are saying IG is just taking the other side of your bet (who else could you possibly mean?), i've explained twice that is not how it works, IG match buyers to sellers.

    1 hour ago, larrytradingltd said:

    That's the reason you can always get filled on a spreadbetting account, you dont need to look at the level 2 to ensure you'll get filled, market liquidity doesn't matter and there's no need for stop limit orders at all... 

    Or am I completely wrong?! (It's a possibility) 

    yes, you are completely wrong, IG's spread bet and cfd track the underlying cfd market, if you place the SB chart next to the CFD chart they are exactly the same, same candles same prices, they move in the same way because they are the same. 

    you are saying you should always get filled with SB but then can't understand why you didn't get filled with SB, the answer is likely to be a misunderstanding as to how SB works. it works the same as cfd, you need a buyer for every seller and if you don't get filled then obviously the broker is not just stepping in and automatically taking the other side of your bet.

    loads of new traders say brokers are corrupt, brokers know retail mostly lose and so they just take the other side of the bet, but if ever the trader doesn't get a fill they blame the broker and expect them to just take the other side of the bet.

     

    • Like 1

  4. 7 minutes ago, larrytradingltd said:

    I just mean that you are not actually buying and selling to another physical person, you are taking a 'bet' against whether the market goes up or down. So if everyone was correct on their positions then IG would lose money because when people get it wrong they make money, when people get it right they lose, right? Taking the position much more like a traditional bookies in that sense. 

    Correct me if I'm wrong but it's that distinction that means it's a bit daft that you can't trade stocks because the shares are unborrowable, because IG doesn't own the shares to begin with. It tracks the market and you bet on it going up or down? 

    you are confusing a broker with a bookie, a broker matches buyers to sellers, a bookie just takes the other side of your bet having given you 'odds'. 

    If the broker can't find someone to swap contracts with you then they can't fill your order.

    If the broker can't find someone to lend you stocks or contracts then they can't even start to look for someone to take your short order when you have nothing to sell.

    IG have survived many major market upheavals precisely because they are not directly involve in taking bets. 

    14 minutes ago, larrytradingltd said:

    Also I don't suppose you know what the s&p500 is tracking after hours? Was expecting it to be closed till Monday 

    Brokers use the futures market to give out of hours prices.

    If you are looking for a broker that operates in a loosely regulated region and does take the other side of your bets I can recommend Plus 500 who nearly went bust just recently and had to issue urgent profits warning to their share holders due to clients 'getting it right' on recent bets during the covid and oil market upheavals. Good luck. 

     

     


  5. 3 minutes ago, SixEight said:

    Brilliant, I've got it working. Out of interest, on Market Watch it is stating the spread for EUR/USD is 9 - is that 0.9 or 9?! 9 seems amazingly high

    yes it's 0.9, you need to be a bit careful with lot sizes and stops etc, pips not points depending on the decimal place used for the market, for indices a stop of 100 = 10 points but I think FX 10 = 10. 


  6. 4 minutes ago, SixEight said:

    I've tried that server and it has a tick, but when I use my login details (same for my MT4 live acc) it states 'Common error' in the bottom right and can't connect. Are the login details the same as my MT4 live?

    Hi, no the demo has a different login name and password, the live name is 5 digits and I think the demo is 6 digits. so long as you are getting the IG demo feed ( File > Open an account ) then you can open a new demo by clicking on demo to highlight and the click next and follow the instructions.


  7. 1 hour ago, Caseynotes said:

    Pound or Euro?

    oh, had the GBPUSD up next to EURAUD instead of GBPAUD. Point I was trying to make was that EUR currently was the weakest to match against the strong AUD.

    image.thumb.png.658413a3e978ebf1094f720277259e51.png

    • Like 1

  8. Open thread for strategy suggestions. The '... worth testing' caveat is because all strategies need tweaking to suit individual preferences such as time frames, trading hours etc. Also 2 people reading the exact same text or watching the same video will often walk away with completely different ideas as to how to implement the info.

    Starting with a short video explaining a simple session start breakout strategy, useful to know even if not employed this is seen in many guises with minor alterations eg the London Breakout Strategy, in this case the start of the Asian session is used for USDJPY. 

    Simply put you create stop orders above and below the high and low of the first 1 hour bar of the session open, this keeps you out of the initial market open whipsaw and hopefully gets you entered for a range expansion move once one side has overpowered the other. Well worth a backtest on your preferred markets.

     

    • Thought provoking 1

  9. 4 minutes ago, dmedin said:

    Looks like I missed a great signal (PSAR and MACD in agreement beneath 200 SMA), reminds me that I need to get PRT set up to do scanning for me

    yes, if your strategy only gives occasional signals then you need to compensate by increasing the number of charts to scan though if using the large time frames a 5 second peek once a day is usually enough. 

    • Like 1

  10. 1 hour ago, larrytradingltd said:

    Sorry I might be wrong but I thought cfd and spreadbetting were two separate things? Speadbetting being simply betting on the price of something that IG pulls the direct data from. Hence the reason there's no need for level 2, you dont have to worry about ever not getting filled or sold and there's no need for stop limit orders? 

    Hi, no sb and cfd are the same but for taxation category purposes, the underlying market for both is the cfd market which the IG market tracks. If it was as you say it would beg the question who were you betting against? IG? IG are adamant they don't take the other side of client's bets and if they did and the regulator was to find out IG's long spell as a leading broker could be at an end. So their position is that they match trades in house and any over flow is hedged, so shorts may well turn out to be unborrowable.

     

    • Like 1

  11. 1 hour ago, SixEight said:

    Hi All, 

    I've managed to get MT4 working on my mac (using an MT4 version from another broker) main reason being I want to test a few strategies with lower amounts of money per trade - to get used to MT4 I am wanting to use the demo account rather than the live, what is the server for IG demo? Also, when going through Market Watch I noticed that despite me logging into my MT4 Live Spreadbet account, they all state the calculation is CFD?! Why is that?

    Any help would be greatly appreciated.

    Many thanks

    Hi, that's correct as stated, the calculation for mt4 spread bet accounts is as for cfd accounts, it's because basically they are the same thing but for tax differences on the accounts which is why spread bets are only available in the UK, only UK has those particular tax laws. If you put the sb and cfd side by side there should be no difference in the chart or prices.

    The IG demo address is;

    demo-mt4.ig.com:443


  12. 3 minutes ago, larrytradingltd said:

    But that's the point, I'm not actually borrowing the stock with spreadbetting, I'm literally making a bet about whether the price goes up or down. That's why there's no level 2 and you dont have to worry about getting filled etc

     

    True you're not borrowing the actual stock but on a cfd account (spread bet) you are looking to borrow the contracts instead so amounts to the same thing, if no one want's to lend them to you who can't get filled.


  13. 21 minutes ago, robertbowler said:

    what are the grren and red dotted lines havent seen them before 

    Hi, they are the PSAR (Parabolic Stop and Reverse) from the indicator list.

    • Like 1

  14. 2 hours ago, kiwilifer said:

    Hi.

    Just thought I would try this again as I haven't had a response on a previous post. Similar posters have asked the question but not really answered. 

    Scenario: Price at pre-market is gapping up with price at £10 just before pre-market closes.  Buy order placed at Market price, to execute on market open. Buy order gets filled on market open for £10.01. Price gaps up immediately as it does when bullish (to say £15) providing a profit on sale. This is from the IG paper trading account. I understand the different types of orders etc, but it is just to confirm that the only reason this order is filled is because it is paper trading, as surely it would not get filled if the market price rises immediately on market open.

    Many thanks, any response would be appreciated.

    Hi, yes the demo will not show slippage on orders but will just fill automatically, of  course if there is not gap up then the live would be the same as the demo. Gaps is cause by the opening auction which processes pending orders before live trading starts.

    • Great! 1

  15. 48 minutes ago, Gctyhcjgf said:

    y = mx + c

    It takes exactly two numbers no matter what time frame you draw a line at. Lines draw exactly the same and always match no matter what time frame, this occurs on any platform, and the size of the gap makes no difference and does not distort the line. 

    Personally I would like things like moving averages to be the one I select and not jump around depending on the time scale too. If I want to see the 50 day moving average, I want to see the 50 day moving average no matter what time scale, but I would settle for a simple line. I am also aware that other people do want 50 bucket moving averages, no matter what the bucket size.

    By the way, are any people on here actually IG staff? How do you actually ask IG a question? The chat link that used to exist seems to have disappeared.

    the number of time peeps have complained on this forum that their lines never match up when changing time frames are too numerous to mention, and every platform has been sited, IG's web based, prt and mt4.

    so not so simple after all.

    as for moving averages you just have to do some arithmetic to convert the day to what ever time frame you are working on.

    456593799_aal1.thumb.png.1a5de08607de5ad0680b3981d5cbc311.png1006876096_aal2.thumb.png.5cb316f9f12bae8ac3ab4022636d8eee.png

     

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