JamesIG
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Posts posted by JamesIG
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54 minutes ago, nit2wynit said:
@JamesIG Hi. Does Pro RealTime have an extensive Instrument Filter option? For instance, I'd like to arrange my search list by percentage moves on the day. When I opened my account 2 months ago, I opted for the Trial of PRT but never had a chance to use it. Can we arrange for me to access the trial again?
ThanksLooking at your account you have PRT enabled on your live account? You should therefore be able to use in Demo. Double check this in your MyIG settings area here: My IG > Settings > ProRealTime
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Yes - L2 and DMA access implies that you are putting orders directly into the FX spot market and our LPs, or into an exchange such as the LSE, NYSE or similar.
You can not do this on a demo account because that would imply you'd be setting orders on these global exchanges with fictitious funds and dummy trades.
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This has been something I've posted before, so sorry to the longer term Community members who may have already seen it, however it's something which I think is very interesting - and it directly addresses your point on 'the 80%'.
Put simply, the best method to a successful outcome is to have a trading plan where you know your win to loss ratio going into a trade, you run your wins and cut your losses.
This obviously should be taken as a parallel piece of advise and runs with the actual trade strategy itself.
The 81% number is a top level statistic which I don't really think shows the ins and outs of client trade activity. If you want to use statistics and data then you need to dig much deeper into the numbers and in my personal opinion people shouldn't take these headline numbers as facts without substantiating them first.
I've linked to a couple of insights we do have, noticeably which show analysis of 43 million trades, to show that actually on average on a per trade basis clients are winning more than 50% of their trades. If you were to take EURUSD for example a whopping 61% of trades are actually profitable - i.e. the client is winning their trade - and on average they book 48 pips. This means that only 39% of trades which clients took on EURUSD were loss making. The issue is clients on average hold their losing trades longer - in this study for about 83 pips.
Each person needs to make their own trade plan, but the data is pretty sturdy. Another important point on the 43 million live trades analysis is that traders who upheld a 1 for 1 risk reward trade ratio had a better than half chance of being profitable after 12 months. Specifically 53%. Those who didn't have that 1 to 1 only had a 17% chance of being profitable after 12 months.
The data therefore suggests that account profitability is wholly down to a client sticking to a trading plan over a longer period of time.
Daily FX Article: https://www.dailyfx.com/forex/fundamental/article/special_report/2015/06/25/what-is-the-number-one-mistake-forex-traders-make.html
Again, in my opinion for any serious trader this podcast could very well be the most important 8 minute podcast they could listen to: Listen to How To Trade Well: Avoiding the #1 Mistake Traders Make from Trading Global Markets Decoded in Podcasts >> https://itunes.apple.com/gb/podcast/trading-global-markets-decoded/id1440995971?mt=2&i=1000423861432
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17 hours ago, Caseynotes said:
Unconfirmed reports PM May will be resigning tonight.
the story continues but the news rooms are looking more at 'when' rather than 'if'. This has happened before though...
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15 hours ago, Mercury said:
Brent Crude is no longer following my road map. Time for a new road map.
Thread ends
A short post, but one which people probably shouldn't breeze over so lightly.
Whilst this shouldn't be construed as financial advise from myself, and any trade or strategy decision you make must be entirely your own, it's important to notice when your convictions are not met and you need to either cut the trade, cut your losses, take your profit, or reevaluate the market. Statistically on the data we've seen people more often than not are winning their trades, however they hang onto the loss making trades for far more pips which negatively impacts their trade balance which factors into 'the 80%'.
Good job for stating so publicly.
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5 hours ago, Guest kemar said:
how can i get a leverage of 1:200 or 1:300 max in my live account
You can see which geographical locations can get leverage that large here: https://www.ig.com/uk/compare-our-leveraged-trading
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Hey - i've had a look at the account linked to this Community account and I can't see a fully open account? Please get in contact with our New Business team directly (we would have emailed you details) and we can look into this.
As a side note, you can't get L2 data on a demo account.
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On 31/01/2019 at 19:24, Guest san said:
Hi is there a possibility to add signals if the user signs a disclaimer?
Thanks
Unfortunately this isn't possible, but thanks for the question.
2 hours ago, Guest Saki Cabdiraxman said:What if dont but stop loss or take a profite in the order?
Does that make my signal issue?
You should still be able to use stops and limits on MT4.
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yes - unfortunately these are tiny companies which means we can't offer them. In the order you listed above we're talking market caps of 16, 21, 16 and 17 million USD. Minimums on US equities are $250m.
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Hi @hariboid - Whilst this has be posted on other areas of the forum, I thought I'd copy the comments to this thread which should give some insight into the decision we have made to stop offering Cannabis stocks for UK share dealing clients, but allow leverage CFD (and spread betting in the UK) :
IG has become aware of various financial institutions performing reviews of the regulatory and political implications of offering Cannabis stocks in the UK with a recreational link, and because of this and IG's own internal review the stocks listed are no longer appropriate for IG's risk appetite.
Therefore there has been a business decision to take action as quickly as possible but within the legal allowances detailed in IG's Customer Agreement.
Regarding why we can continue to offer these stocks on leverage accounts, the reason is that there is additional certainty with regards to derivatives referencing the underlying stocks, and as IG uses swaps to hedge our clients' leveraged trades with us, we will not be engaged in the physical trading of recreational linked cannabis stocks.
It's also worth noting that a number of other stockbrokers have also recently taken similar action. As stated on other threads...
Unfortunately I am unable to advise on other companies [specific] dealing practices, however in the interest of forum transparency other Community members are more than welcome to have their say as some already have (in accordance with our terms of service and within reason of course).
When it comes to 'moving' stock we are unfortunately unable to facilitate a stock transfer and you can only sell to close with us when it comes to Cannabis stocks on a share dealing (and/or ISA account in the UK). Our CFDs and Spread Betting leverage accounts remain unaffected by this decision.
To shift your exposure from IG would therefore require you to sell on IG and buy on an alternative brokers platform. One possible option to reduce market movements / fluctuations in the individual share price over this period and reflect exposure on this new broker is to set simultaneous orders in the same auction with IG and the new broker.
As a service industry customer satisfaction is an absolute priority, and whilst I understand the frustration with the outlined action, we must act appropriately given our recent review of the regulatory and political implications of offering Cannabis stocks in the UK with a recreational link.
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10 minutes ago, nit2wynit said:
Well, right off the bat today, the 5 stocks mentioned to watch are all Closed and Cannot Open with IG.
if you want to list the stock i'll be able to look into that for you. Given the thread I would imagine that these are highly illiquid, small market cap stock, however there may be other reasons - so let me know.
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I can't find an MT4 account linked to the email address or community username you made this comment with. Please go to MyIG and add an MT4 account - from there you'll receive your login details.
If you have an account under a different email, please drop us an email requesting a reset of your password and a reminder or your username.
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You should be able to see these in the statements section of MyIG, however this unfortunately won't be available until mid July.
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You should be able to login using the same details as you have on the regular browser login / dealer. Please make sure you also have level 2 data enabled (available to toggle in MyIG https://www.ig.com/uk/myig/settings/data-feeds) however if you're still having problems please give us a call and we can go over some troubleshooting.
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On 19/05/2019 at 07:07, BlueFox said:
I opened my live account almost a month ago now and its still pending for approval. I've passed the online test so i don't see why it's still pending. I've tried calling the 1800 601 734 number to activate my account but it doesn't seem to work.
I've flagged your account to the relevant team who should be in contact shortly. Whilst I do believe we've reached out to you on this previously, it may be worth checking your emails (including junk) once again as any correspondence may have been misfiled.
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trailing stops are not available on every market, and they also are no available on regular orders. Which asset are you trying to trade on? If you provide more details I should be able to assist.
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Unfortunately you haven't logged in to leave your comment, and because of that I am unable to leave your account. Please give us a call and one of our trading services team will be able to immediately deal with your query.
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2 hours ago, Guest Dave said:
Is there any way for a European to trade US domiciled ETFs eg are professionally recognised clients abelw to do so?
There are caveats which apply. You can read more at the above link, or the following may be useful...
Sophisticated ETF investors
A potential exception exists if your platform allows so-called sophisticated investors to buy US-domiciled ETFs. You may qualify if you can demonstrate that you are a professional investor, or are otherwise highly qualified, with the knowledge and experience to understand the risks of the product.
Qualification under this exception depends on your broker deciding that you meet the UK definition of a sophisticated investor. You may also need a very large portfolio (over £500,000). -
Hey folks - we've had some replies to those two questions as bellow...
On 16/05/2019 at 09:44, PandaFace said:@JamesIG how do you translate the rotation into a buy/sell signal?
"RRGs were never designed to be a trading system and have specific "rules" for entry and exit. They are much more a visualization tool. The best comparison is with a regular price/bar-chart. What are the entry and exit points there? Some use, for example, 10-day breakouts while others use 50-day breakouts. Same tool, different rules.
Also the time frame is very important. The image on a daily bar-chart is much more granular than on a weekly bar-chart. Same goes for a Relative Rotation Graph. RRGs based on daily data rotate much faster than RRGs using weekly data.
As a rule of thumb we know that for example crossovers from improving into leading are conservative, late, entries. Crossovers from lagging into improving are very aggressive, and therefore higher risk but a better reward when the rotation continues all the way through. The sweet-spot is probably somewhere in the middle depending on your risk-appetite."
On 16/05/2019 at 09:52, PandaFace said:And which other indicators would you suggest to use along with RRG ? Other strength indicators I assume?
"Personally I like to have what I call a "raw" relative strength line in my charts in combination with the RRG-Lines (JdK RS-Ratio and JdK RS-Momentum). If you want to combine a relative view with an absolute (price based) view I primarily use a plain vanilla bar-chart or candle-chart and maybe add a 9-period RSi and a MACD to asses trends in price."
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22 minutes ago, postie said:
Why do I require a leveraged account to buy certain shares ?
Which shares are you referring to?
Generally speaking we don't have every single exchange set up for non leverage, and therefore we can only offer on OTC leverage. I assume this is what you are referring to.
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FYI this is now live via the IG Trading Platform.
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Hi folks, you may have seen the 'announcement' on Community, but at 10:30 today we'll have Julius de Kempenear, founder of Relative Rotation Graphs (RRGs) discussing GBP and how it is trading among its peers, as well as the future prospects of the FTSE 100. We'll be discussing the sectors on the move and how RRG’s try to identify a trend.
Do you have any questions?! Submit them before 10:15 and I'll make sure Jeremy gets them. If you wanted a quick overview on RRGs check out some of the posts above, or the below videos (which granted is a couple years old now).
- Questions on specific assets
- Questions on RRGs
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12 hours ago, Matt_Stocker said:
Hi JamesIG,
Thanks, relatively new to this and especially new to this behaviour. It never hurts to ask, right.
Understood that the consolidation reflects the incorporation of another into the base, effectively dilution of the stock I guess. Because they've had a decent run of late they, MF, took this opportunity to rebase... Cool, best to learn this stuff with a pinch of skin in the game or you never learn.
Absolutely @Matt_Stocker - the whole purpose of Community is to offer that transparent open space to all clients (and guests!) who have questions. No one can know everything, especially given the number of markets we offer and the multitude of different dealing and trading functionalities and strategies, so its always best to put your questions to the forum.
Happy trading - shout if we can ever help further.
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Micro Focus has recently undergone a stock consolidation (a corporate action) in the underlying market which we have reflected on your account.
Depending on your line (US or UK) the following should apply.
Happy trading - shout if we can ever help further.
Custody fees
in IG Account Support - MyIG Help
Posted
Hey thanks for the question. When it comes to share dealing account custody fees in the UK:
The custody fee is also dependent on your trading activity, and commissions paid during the quarter will be deducted from the fee. You will be exempt from the charge if you fulfil one of the following criteria:
https://www.ig.com/uk/investments/share-dealing/costs-fees