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RichB-Trader

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About RichB-Trader

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  1. RichB-Trader

    Spread and the Charts

    Thanks, takes a bit of getting your head around it but think I am there. So does that mean the last and lowest transaction price would have been at 145.85? Hence why when I look at the bid chart it has that number? Or is it not that simple?
  2. RichB-Trader

    Spread and the Charts

    Hi, Thanks I will have a good look at that video. Am I correct in my logic that in my example some point yesterday there was a sell price of 145.85, at that same moment there was a buy price of 146.23. Meaning somebody actually sold at the lower 145.85? But after that the bid prices went up. Understanding it would be by the second bidding but the lowest price sold was the bid price at 145.85?
  3. RichB-Trader

    Spread and the Charts

    Hi, Thanks. So if you don’t mind can I do an example so I fully understand. If I take the candle from Vodafone yeaterday, it showed for it low: Bid: 145.85 Ask: 146.23 Mid: 146.04 Does this mean that at some point yesterday there was a sell price of 145.85, at that same moment there was a buy price of 146.23. Meaning somebody actually sold at the lower 145.85? But after that the bid prices went up. So therefore let’s say the resistance I found looking at the mid market price was exactly 146.04, for arguments sake it is not a zone as you showed. Does that mean I should actually look at the bid price and short just beyond there as that is the lowest price somebody paid. Reason being I haven’t been doing that, so when I trade support and resistance breakouts just beyond the highest or lowest price I end up opening the trade then it at times reversed just at my entry point. Having back tested there seems to be a few examples where if I had used the Bid or Ask price rather than mid market it would never have opened and therefor not made my losses. Thanks for all your help.
  4. RichB-Trader

    Spread and the Charts

    Thanks so much for that, really helps. Are the bid and the ask prices what’s in the market, I.e the lowest price someone will sell and the highest price someone will pay. Or is the mid market the actual last price paid on the market and the bid and ask is the spread where IG make the markup. Thanks.
  5. RichB-Trader

    Spread and the Charts

    Hello, Thanks, that makes sense. What is a price ladder or is that just a metaphor? I seem to be sometimes just triggering the order then it retraces the counter way, however sometimes I set it higher and miss out on profits. I guess this is the art of technical analysis.
  6. RichB-Trader

    Spread and the Charts

    Hi, thanks. The system is IG's trading App. I had a look at the Ask and Bid prices, so thanks for that. When I click them all the bars move up and down as you would expect. So I guess I need to look at my Mid market price on the chart and add or subtract (depending if I am going Long or Short) away the difference to the Buy/Sell Price. For example if I wanted to go long at 1000 points (this being the resistance level found when drawing on the mid price chart). If I was putting in an order to be filled later and I knew the spread from Mid to buy was say 10 points, I should go in at 1000 +10 points minimum. The opposite is true for going short once through support.
  7. Hello, Pretty obvious question but just wanted to check. On the attached image I have annotated an example of trading a resistance break on Sainsburys. I would normally identify the resistance then put my entry above this with some clearance for fakeouts, in this case it was 0.75 of a point of clearance. As you can see the trade opened before it got to the line, I assume this is because it has reached the buy price, due to the spread. See circle in top right corner. If so am I right that on spreadbetting I just need to allow for my clearance plus spread, therefor put my entry a bit further from the resistance point? Thanks all.
  8. Thanks Also simple things like trailing stops and multiple scaled entries, as well as some more indicators like OBV or Chalkin Money Flow, PRT does all of these. If I was IG I would develop the in house app ASAP, then they can cancel the subscription to PRT for IG and save some money. Then everybody could in effect have PRT functionality on all devices.
  9. Hi, That's a shame, so it means we cannot get PRT on an iPhone/iPad etc at all in the near future? It would be so useful to be able to have this when you need to do trading away from the desk, or if the IG Native App can be improved. Do you know if the development road map includes getting the standard IG app to auto plot support and resistance lines like PRT does? For me this is the main thing PRT does that is advantageous.
  10. James, Having a look on PRT website they off PRT on iPad/iPhone. I emailed them and they said its just IG haven't signed up to the mobile version. With the advancement of mobile devices it is a bit of a miss for IG not to offer PRT on mobile when it is available. Please can you advise if IG will look into getting the PRT App so we can use it? That or if you can improve the IG App where it offer teh PRT functionality, such as auto detecting patterns & trends for example.
  11. RichB-Trader

    CFD vs Spead Betting

    Hello, Thank you for your detailed reply, it was very useful. I am trying to get to the bottom of are CFD's less risky (less like gambling) than Spreadbets. I assume all things being equal, same position, bet/contract size, stops in place, risk management they are both the same risk and therefor both "gambling" to a degree. It sounds like spread betting has a reputation for people just guessing what the market will do rather than doing analysis etc, therefor it comes across as more of a gambling tool? By the way I like the sound of Spread Trading!
  12. RichB-Trader

    CFD vs Spead Betting

    Hello, Thank you for that. Can you help me with why Spread Betting could be classed as more Gambling, given both instruments you are betting an amount on the market going up or down? Also with regards to proper risk management I assume its the same risk as CFD as if the market moves against you say 5% for the same size bet / contract you will loose the same amount? Thanks.
  13. RichB-Trader

    Pre and Post Markets for US Equities

    Hello thanks all, my thoughts with omitting it is the spread distorts the candles. I thought the main market really is what should be represented as this is the "true" volume market. For example if you look at Facebook the candles can be 20% top to bottom (caused by out of hours trading) which of course is not as representative making it harder to analyse. Am I correct you pay more of a spread on out of hours trades? Thanks.
  14. RichB-Trader

    CFD vs Spead Betting

    Hello, Thanks for this. For spread betting (on my demo account) all I do is close it when I have made a profit (or exceeded my allowable losses). It never seems to have expired? I have had trades from 3 hours to 4 weeks. Can you elaborate?
  15. Hello, Just looking for people thoughts on the Pre and Post Markets for US Equities . Having done a few months of demo account, it seems like opening a trade in the Pre or Post Market means you have a larger spread and therefor pay more "commission" on a spread bet. I say this because the buy and sell prices diverge heavily during these times and close up during the main market when there is more volume. Is this correct? Also I am not keen on opening or closing out a position during these Pre or Post Markets as there is very little volume behind the moves and therefor a fakeout/whipsaws ares more likely. Am I correct with the above? I see the advantages of these out of hours market if there is news/earning but other than that I am reticent to trade them otherwise. Therefor by the same definition, when I upgrade to Pro Real Time I will exclude these Pre or Post Markets in my candle stick charting as well as the data I download to do my technical analysis. Does this sound sensible? Thanks.
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