nit2wynit
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Posts posted by nit2wynit
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1 minute ago, Caseynotes said:
suspect the FCA would not be too keen to see a broker act in any way other than as a broker. the broker sees your buy order and matches it with another traders sell order and takes the spread off both of you, depending on the subsequent direction of the market one trader is going to profit and the other trader is going to lose.
Yes, but where does the money go or come from?
If I made 10k today, does it come from IG? -
7 minutes ago, DSchenk said:
I assume this is because US stocks are more volatile and IG needs to protect themselves from traders making huge profits.
I'm clearly still learning, but.....
If I lose I'm assuming IG takes the money, But they make their money on the spread, so where does my actual loss Go? When someone Wins does IG pay out of their own pocket? Likewise with shares. Who are we actually Trading with? Who's keeping the money and paying out if we Sell Shares? -
1 minute ago, DSchenk said:
https://www.ig.com/uk/glossary-trading-terms/dfb-definition
Daily Funded Bet - that's the regular ticker to trade for day-trading purposes, cause smaller spread, but overnight interest adjustments.
Unless I'm wrong, then someone correct me pleaseOK. I need to go to page one on PRT. I may be some time lol
Good luck today. -
oh, hold on. may have found it. Search bar at top left?
Holy Crapola.....73 pages of UK. Gonna need that screener lol
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1 minute ago, DSchenk said:
Are you looking at these 3 markets?
US (minor)
US (TECH)
US (Wall St)
I get about 23,000 results combined across all 3.
Divided by 4, cause only one of them is the DFB, the other 3 are futures with an expiry date. Still over 5000 stocks.
Like i say, I've literally just opened it....I also don't know the significance of DFB?
I have the platform open in default state so maybe there's a search I'm missing -
6 minutes ago, DSchenk said:
What issues do you have with developing on PRT?
actually, i do seem to be having a problem finding the entire US List of shares? Looks like I have about 100? A-I I-Z then another 50 in Wall Street?
Where's the rest of them? -
1 minute ago, DSchenk said:
What issues do you have with developing on PRT?
I'm configuring mine today to work with the US market. Will see if I have time today to look at US market open
Oh, not me specifically. I've literally just opened it, but I've noticed a few other posts re; PRT that have gone un-answered recently.
Maybe I've jumped the gun!
Yes, I'm gearing up for the US open today and hoping to make some progress with PRT, though I think I've got a lot to learn I doubt I'll see any action today. -
WOW! PRT! Can't believe how fluid it is compared to the Retail
platform...I also can't believe no-one has pushed me toward it the entire time I've been complaining about how slow it is :O
Let the learning begin. Though it seems there may be a few issues developing with PRT?-
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On 18/08/2019 at 09:08, JackD said:
Hi,
I have been using PRT and its really good for trading on the ASX but I am not seeing the pre-market data it's only showing me the previous day until the market opens. I have got live data turned on and have level 1, will I need to get level 2 to see the pre-market data?
Want to be able to scan for gapping stocks in the pre-market.
Hope that makes senseThere's often a shortage of feedback in here as I'm sure you're now aware. I've literally just activated PRT so concerned to see so many unanswered questions regarding it.
Did you figure it out? -
1 minute ago, DSchenk said:
Do you know where to get anything similar for US?
I don't know ****! lol
Everything I know is in this thread.........:D-
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21 minutes ago, DSchenk said:
Even when using a screener, one potential issue is still, that IG is not providing pre-market data, like Ross has in his platform, right? Or can you activate that somewhere?
I think at this stage it's not as important for me/us to get in and out Like Ross does. He's literally Buying Shares and pays commission/Tax etc. so the emphasis is being as close to the Penny as possible In and Out. The benefits of spread betting outway the Cons providing we can find the Instruments quick enough. Even If i can shave 5 mins of my searching it will make a huge difference. Would be even better if i could omit shares that aren't even tradable too.
Even without Pre market data, it's still possible to create a Watchlist (I assume) as soon as the Market opens, but only you can tell me different.
MallIncdrokdt was what I found on Tuesday. If I let it run it was worth £800 with £38 risk. Seems it's struggling to break out. Big breath for MDC Holdngs though. Has great potential on it's way to 6000
As of now, I'm pretty much finished. Up £450 on the Demo with 1k account. Down £186 = + £264.
I can defo live with that. Excited for next week.-
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Add MDC Holdings to my Watchlist. See where these go then I'm done for the week.
Keen to look at PRT moving forward. -
...He who Hesitates.... plus a bit of slippage. Up to E on my A-Z. It's too difficult to find and create a Watchlist on Retail in time. Late getting in, early getting out.
I'm ready for next stage PRT.
Current Watchlist MallInckrodt. and Bitauto Holdings.
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11 minutes ago, Caseynotes said:
there is no set value but IG will tell you in advance if they intend to introduce a charge for use to give you the opportunity to stop using before they do.
....but No Idea at All??
Is it less than £100 or less than 10k?
i can't see how no-one can give me an answer on this. Even a round about figure. -
4 minutes ago, DSchenk said:
or your trading activity is of extremely low value
This is the bit i don't understand.
What is Low Trading Value? -
1 hour ago, DSchenk said:
The problem is, as you can already see at the dates chosen - these opportunities happen in the UK market once per month or so, whereas I made losses most of the days the rest of the month which outweighed the winners on these particular days. But maybe you are right and the US market has these opportunities almost on a daily basis, so probably worth a closer look into that.
That's a fantastic amount of detailed info and I'm sure it will be of use. It's certainly about time I looked at PRT for sure. Can i ask you the cost per month? They couldn't give me a figure based upon what Low Trading Value was so no Idea if I'd be paying.
As you're not new to the concept of trading breakouts, it would be great to buddy up on some ideas.
All I have at my disposal is the Retail Platform. Therefore I need to literally wait till 2.30 for all to go Live and scan thru as quickly as possible to create a watchlist. Most of the time I never get past D in the A-Z list before I feel I have enough to look at.
As for trading 20 per day??? that's what I used to do. It's exhausting. I put it down to Fear of Loss. However as an exercise last month I traded the Up on the FTSE. 20 Trades up and down, long and short. If I'd just gone long I'd have made £20, but trading in and out I made £50 but lost £16. Now I've got 5 in me tops and a max day loss of £100 or there about.
I definitely like to know more about PRT and the codes. hopefully there's a balance between us of what is needed to crack it.
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17 hours ago, dmedin said:
Got my eye on JD Wetherspoon tomorrow, they report earnings!
....any time now? :O
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55 minutes ago, DSchenk said:
First of all I'd like to say that I absolutely love this thread!
Thanks to dmedin, nit2wynit, and obviously caseynotes for this elaborated discussion.Hi, great to see a new Avatar in the thread.
A very interesting read right there that I'd love to hear more about. The 1st thing I'd like to comment on is your point about not being able to catch the US open. That's a big tell right there that has only just occurred to myself over the last 2 weeks. The market is massive compared to the LSE and while I may be wrong, I'm assuming the volume that goes with the NYSE creates it's own success because of the sheer amount of people trading it. Being in the UK we're in a great position as we don't need to be up at the crack of dawn to catch the US open. Even now on a daily basis, I struggle to find ANYTHING to trade on LSE. In retrospect, the %'age is probably the same with NYSE albeit with more to choose from; therefore a few extra Instruments to add to an already very short list. The great thing about this is you only need one good one. (example this week could have returned £800 with a £38 risk!) You also only need to trade one at a time, and even one per day; find the right trade and it's one per month! As I'm sure you're aware I've defaulted to the Demo while I niggle out some performance issues and some fine tuning of the Breakout Strategy. There was nothing to trade yesterday for me on the Demo, but this week I'm up £420 down £188 trading Breakouts on the US with only £1000 margin or less. For the 1st time since I started trading, not only is my Win/Loss up but also the Profit/Loss per trade.
You may not have read the entire thread (or maybe you have) so you may be perplexed to hear that on the 'Demo' trading Breakouts (I know, it's a different beast-but I'm treating it as real money with a realistic account size) my success was actually more than 50% and closer to 70% 80%. I've screen shot a lot of them in this thread over the months, so I can feel your frustration and confusion as to why it's not been working for you, especially in light of only using the LSE to find trades. Of course, I myself have had almost zero success Live,(who am i kidding- I've lost £1400) but as I have stated, I was not sticking to the Breakout Strategy. Ironically, I've lost a lot on the FTSE and Gold as with a small account my profits are limited to my Risk. Anyway........Back to it.
I've been meaning to do a Noob Recap myself re; Small Account and Finding Breakouts, so again, I'd love to hear what you've been using to find trades, what platform you're using etc. A rundown of an example of a losing trade or winning one. How many trades per day etc. You mentioned you built a scanner? Please tell me more.
It's also important to point out re; Ross Cameron. What he teaches now is 'Trade the Best Dump the Rest'. The missing part of his equation is the 80% of other Winning Trades he has had, just with less accuracy OR Profit.
For instance. His Best are above 5% Pre Market, 20 mil volume or less, less than $10 and more likely around 2-5$. (may have a few numbers off here) so we need to also realise that 3 or 5% gappers that are $20 with 20mil shares floating are also do-able espacially as we can alter our stake size on Spread Betting. He just concentrates on his own Sweetspot i.e those that more closely 'guarantee' profit potential.
Anyway, phew. Looking forward to sharing Ideas. I hope to make some profit again today to finish off a good week.-
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Well, nothing at all to trade today, or I simply missed them. Good news is I'm not down! Back to it tomorrow.
Any success?-
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Hi, I'm having recurring problems with what appear to be Outages on the Demo. See image below. (Info has disappeared 5 times in the last hour) This is happening a lot today; not specifically. It's so bad I'm even querying my connection with my BB provider as IG claims there are no known issues. Currently pinging Google DNS which reports no downtime for my connection. I contacted IG last week and was assured my query had been passed to IT for investigation, however this isn't the first time I've queried my problems and I never receive a reply. I'm hoping we can finally pin down my issues. Thanks
@JamesIG
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Just brought up the chart to take a look. All the info was there then all info disappeared... This is a typical day for me.....I simply don't trust it. My connection is fine.
Demo.
Edit. Info is back on now. 5 mins all was gone.
Re the chart I've just read about a 50B Injection with Negative Interest for small compaines with ING Holland, so maybe the spike has something to do with that.
2nd Ecit. Allinfo gone again......FML
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Are there still issues? I've tried to place a Gold trade on the demo but it's just spinning and won't place.
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31 minutes ago, dmedin said:
I did this morning as the hourly chart showed it dropping, but I'm back in.
Looks like it might go again. It's tapping on Resistance as I type.
14pt Stop!! ridiculous. My stop would be @ 708-
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Just gave another £32 on Maxar so that's my Loss Leader for today and I'm done.
up £153 -£59.10 = +£93.9
Weekly so far.
+£420- £170
= +£250
Demo.
Is spread betting for fools?
in New to IG Community
Posted
Struggling with PRT so far. Can't figure out where my PL is or my Balance. Manual is all a bit heavy and the vids don't appear to be thorough. Maybe a pre-requisite knowledge is required.
I'm on the Demo by the way.