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Posts posted by rachelbarnes

  1. Is anyone else having problems opening charts on their mobile app?

    • Hi there, I think it'd be nice to have a feature to close a position at market at a specific, customizable time (for example 21:59:59, just before spreads widen in the DAX). Would be useful for intraday traders that want to close positions at stop/target/close of underlying market without having to be at the screen.


  2. On 24/11/2018 at 14:39, Caseynotes said:

    @rachelbarnes,  MT4 is a third party platform downloaded onto your computer and so is not web based and can't be accessed through the IG web site.

    IG does receive trade and account information from the MT4 platform which is displayed on your 'My IG' account page but am not sure how you might of even tried to place an order to get the rejection notice if going through the IG site. 

    thankyou so much!

  3. Please could some one explain why there is access to an MT4 platform when you log on to the web account but you can not  close or open trades or is there something wrong with my computer?


    I tried to close a bad trade the other day by logging in through the IG website into MT4 I was not allowed to close the trade and resulted in my account being margined


    "Your order was rejected!!!!"

  4. On 23/11/2018 at 17:52, rachelbarnes said:

    Interesting video on scalping. It shows the video recording of a live trade that was turned into an educational video for trainees at a prop firm. The trading takes place on the price ladder with a running commentary and explanations by the educator having debriefed the trader.

    The trader was looking to scalp 20 tick with 248 Lots but midway through an unscheduled breaking news event plunged the trade deep under water. The educator explains the traders rationale on how he set about trying to save the trade.

    Not for the faint hearted and certainly a 'don't try this at home' unless you really know what you are doing.

    my issue has been solved!!

  5. On 23/11/2018 at 18:31, TrendFollower said:


    I think I know what you are trying to suggest. I shall let you explain it in your response to @Mercury.

    I use moving averages. If the trend line using moving averages is trending upwards then it presents a buy opportunity. If it is trending downwards then a selling opportunity. If sideways then not really interested at that point in time. You then have when one moving average crosses another one and so on. 

    my issue has been solved!!

  6. Interesting video on scalping. It shows the video recording of a live trade that was turned into an educational video for trainees at a prop firm. The trading takes place on the price ladder with a running commentary and explanations by the educator having debriefed the trader.

    The trader was looking to scalp 20 tick with 248 Lots but midway through an unscheduled breaking news event plunged the trade deep under water. The educator explains the traders rationale on how he set about trying to save the trade.

    Not for the faint hearted and certainly a 'don't try this at home' unless you really know what you are doing.

  7. On 22/11/2018 at 18:03, Mercury said:

    As with pretty much everything the answer is "it depends".  If your mentality is to need to constantly watch every move at 1 or 5 minute charts (even ticks) and never to hold over night and certainly not over the weekend then Day trading is for you.  Such people need to find a system that works for intra-day moves.  I tried it when I first started and realised it wasn't for me so researched the topic and found many examples of where people have sworn off day trading in favour of long term/swing trading.  I prefer this because I feel I cannot hope to compete with the high speed computer trading and I don't want to be glued to the screens all day (cannot be anyway as I have other things that occupy my time).  So I developed a method, from multiple existing sources, to allow me to analyse in detail at various time-frames looking for trends and more particularly swing points with a higher than 50/50 probability of success and low capital risk if wrong.  This suits my risk appetite, analytical strengths/personality, and keeps me from over trading (a killer!).

    However you will find people on the Forum who think and operate exactly opposite to what I have just outlined and that may well be working for them.  So it is horses for courses I think.  The only observation I would make is that novice traders tend to start with day trading because they don't know what else to do.  They don't have a methodology (system) they have researched, tested and developed to suit their own personality, strengths, weaknesses etc and don't actually understand fully what all the technical indicators and so on really do.  Therefore they watch every move to try and manage risk by getting out if the market twitches against them.  They have not mastered their own psychology, indeed probably have not even thought about it.  They have not worked on demo for months, maybe even years before jumping right in.  No wonder so many retail traders lose, it is because they do not approach it like a business.  Would you just set up a business with no experience, training, expertise?  You wouldn't last long and so it is with trading.  You have to have an edge, a reason you can beat the stats...  It takes hard work, experience (including losing, we learn best from mistakes rather than successes), deep pockets and resilience.  This is regardless of the time-frame, method, system etc you use. 



  8. On 22/11/2018 at 18:07, Mercury said:

    Well you certainly need a health work/life balance in any enterprise.  For many retail traders this is actually a work/trading/life balance.  Some people swear by end of day trading (i.e. analyse the days move when it is all over and set up trades for the following day IF you spot anything that fits your criteria).  Others simply identify likely entry points and set up limit or stop orders that fit their criteria.  Everyone else watches and waits.  Of course you can do a mix of all 3.  I have no experience of MT4, I just use stop/limit orders on PRT


    thankyou so much!!

  9. On 21/11/2018 at 14:31, Mercury said:

    Hi @rachelbarnes, a month to learn doesn't sound very long to me but I see you are now testing on demo, very good!

    What sources did you use for your study?

    As others have noted, all the patterns you mentioned do exist but not all the time and it depends on what time frame you are looking at.  The problem with chart pattern techniques is that people can start seeing the patterns everywhere if they are really pre-disposed to want them.  The trick is to sort out all the false signals vs the true ones and that takes practise.  

    A few thoughts from my experience that may help:

    • Get a really good source publication or two and in particular not just a text book but something that real traders have used (In addition to a good technical publication I would suggest Trading for a Living by Alexander Elder - old but still on the money for me)
    • Don't just dive in on today's market.  Test your learnings by analysing a variety of market types back as far as you can get data.  Compare different and similar types of markets and note that some work more consistently than others and some patters are more reliable than others
    • It is not just about recognising the pattern but figuring out the likely next direction from this pattern (i.e. what it is telling you).  To do this you have to (in my opinion) put the charting in context of wider Fundamentals, historic price action and current day environment (this includes, crucially, sentiment)
    • Some charting, technical analysis, price action analysis etc works better in longer term time-frames than others.  For instance there is a school of thought, which I subscribe to, that Head & Shoulders and double tops only work well on Daily and Weekly charts not so well on 1 hour or lower charts.  In addition the turning points need to be well spaced (several months apart) to be relevant.  Too close and it is just not statistically significant, in fact you often get short term double tops in consolidation phases (so-called steps) before prices move on beyond the alleged double.
    • Many of the great old time traders used charting and many people still do.  Is it a self fulfilling prophesy or something more intrinsic?  Does it matter if it works?  Recently @Caseynotes posted a great video from RealVision, an interview with one of these old timers.  In it he noted that the impact of algo trading has muddied the waters for him in terms of trading signals.  Although he is principally and News and Fundamentals trader rather than a technical trader I think the observation is equally relevant for traditional technical trading.  My solution has been to blend a number of techniques and require all of them to signal in the same direction.  This has improved things for me but the waters are still a bit murky.  However that may be bout to change if we the great Bull stock market comes to an end...

    Stick with it and spend a good longtime practising and refining you method before you trade live but expect to lose when you do go live, because trading real money has a completely different psychological impact than demo.  My final piece of advice is to learn as much as you can about this psychological side and come up with mechanisms in your trading methodology to combat the market influences on you.  This is one thing I really wish I had known when I started...

    thankyou so much!

  10. Hello all,


    I am new to trading and having spent a month learning as much as I can and writing up a trading strategy I am now starting on my Demo Account.


    I am mainly trading around patterns with indicators to help confirm trades. I am looking at typical NASDAQ & FTSE companies. When I do my TA I only seem to see lots and lots of channels, upward, sideways and downwards. Occasionally on the hourly there is a flag or two. I just don't seem to come across Head and Shoulders, Double Tops/Bottoms etc. 

    Does this sounds correct or am I just not seeing it?


    Thanks for any help.

  11. Please be aware that if you are holding T+2 FX positions past 10pm tomorrow night and T+1 pairs past 10pm Wednesday night (all times GMT), you will be charged/credited 5 days’ worth of funding due to the bank holidays on Friday and Monday across most pairs. (Some crosses will settle on the 2nd so clients will be charged/credited 4 days.)


    Quarter end swap rates look to be slightly higher than what they normally are for a 5 day period over 29th March-3rd April roll. Notably, if you’re short dollars you’ll be paying more, whilst if you’re long dollars you’ll be receiving more. The rationale for the quarter-end movement remains the same  - it is a reflection of the expected demand for dollars around month-, quarter- and year-end and as such it is very flow driven.


    All things being equal, the spot rate should adjust to reflect this at 10pm as it did over year end. This is, however out of our control. Please note the moves are nowhere near what we saw over year end, but if you have any questions please just add a comment below.


  12. 4 hours ago, Xago said:


    While I agree with the post above, I feel that it didn't address your question. You are asking about money withdrawal experience with IG.

    In my personal experience there has been no issues what so ever in making withdrawals of up to 30% of my available funds (that is the maximum I attempted to withdraw). Some problems may happen from time to time that relate to the platform itself, such as the "withdraw" button lagging or something of the sort, in which case a call to the customer support resolved the issue on the spot, and even carried out the withdraw request while on the phone (after ID checks of course).Nox Showbox Mobdro

    I'm confident in IG's service, and hope to remain so in the future.

    On a different topic, you mentioned that you are looking to invest a small amount of capital. IG is best suited for CFDs and FX trading, if you are looking to invest by purchasing actual shares of companies this is not provided by IG (at least from my end, maybe for different account types they offer it).

    I hope this helps.

    yes thats it thankyou so mch!

  13. I currently have a position open for bitcoin on the IG trading platform and the market doesn't open for a few more hours . When the market closed I was in a 1k+ profit however now I will be down . However since the markets closed it still shows that I'm up 1k .

    My question is , can I close the position and receive my profits still with the market closed , or when I close click position will it place my order and be fulfilled once the market opens at whatever the rate is then . Note : I do have the option to close the position even though it's closed but I'm reluctant to click it as im not sure what will happen. If anyone could help I'd appreciate it alot , the market opens in 3 hours .

  14. Hi Everyone, I'm from the UK and just received a pretty modest lump sum of money. With interest rates being so low along with my interest in finance, I'd like to invest a proportion of it (around £500- just to try things out), through an online self invest stocks and shares ISA,

    After shopping around a little bit, I've decided that IG are offering probably the best deal out there for a UK investor who is protected by the FCA (although deGiro are extremely low cost, I'm worried about investing a lot with them due to the not being covered by the FCA.) As IG are originally book makers who apparently have the reputation of being rogues anyway, I was asking your advice on what to do... Once I invest my money, I'd hate if it was like pulling teeth trying to get it back out again or transferring to another broker. Would really appreciate anyone else sharing their experience with IG.

    Thank you!