jlz
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Posts posted by jlz
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5 minutes ago, mark27 said:
Not the he even trades with them.He just posts on the forum.
That looks like another case of massive losses vengeance.
Why would you be that attached to a company if there wasn't an emotional element into it...
That would explain why he tries to bang around anything that gets close to the "corporate" message.-
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Treat dmedin with care and love, he needs a few more years to cook himself into a person.
Right now he is just asking for attention. Insulting him back will only feed him even more.
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Deano85, recently we have discussed between us the margin required to trade. There were people on the side of "brokers force margin to protect themselves" and "trades are manipulated to make retail traders to lose". I don't agree with any of the sentences and I have lost funds exactly the same way you did.
Look at the Silver Spot chart per day and see the usual moves that has been making over the last 2 weeks.
The average move was way bigger than those 20 points that you set your stop into. Look at Tuesday in particular, that is a day where the prices moves in a range of 400 points up and down. You can easily see that 20 points is super tight stop level and can be triggered. Just because of daily trading adding noise to the chart, a move of 20 points is literally normal.
The margin required to trade in a market is there to cover the possible moves that a price can make and to stop your account getting into a negative balance.
If you are required 2K of margin is because the market can make that move against you. The key here is the allowance of setting a stop loss by the trader. Brokers let traders to set a stop loss that is below their margin requirements, because they know that traders don't understand margin and most of them would set a stop tighter than what they are required to trade.
In other words , those 76 -80 % retail traders wouldn't lose money if they set their stop losses accounting market volatility and margin requirements. But if they did they wouldn't have enough funds to trade. So there is the business from the broker. They don't need to modify trades or push them against you.
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I am not sure if you will get a reply on it from the support team.
Can we know a bit more about that picture that you posted?
What are the market, hour, candle time frame, prices and volume sizes. We can help to keep an eye on it.
If it is a small time frame like 1min or 5min that move can happen easily but the story would change if it is a 1h or bigger candle chart. When using Level 2 Dealer you can see the market depth and certainly a trader with enough funds would be able to trigger a move to push small trades into their stops. That is definitely something that is commonly done and publicly admitted by big whales. It doesn't necessarily need to point to the broker itself, it can be any party involved in the market. -
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3 hours ago, jaykay said:
Thank you jlz
I have read your link to the highly esteemed Investopedia and I can find absolutely no reference to spread betting being a leveraged product. In fact, it seems to concur with my original post, that spread betting is betting and has no relevance to leverage...
Adding to what Caseynotes said, margin is leverage and is not to protect the broker, it is to protect the small retail trader. When talking about spread betting, margin and leverage are used to define the same concept.
The link I sent refers to the ESMA regulations, there are multiple references to spread betting and there is a specific paragraph related to IG, noting that they claim to do a different kind of business compared with other brokers:
https://www.thearmchairtrader.com/spread-betting-cfd-changes-under-the-new-esma-leverage-rules/
In this link they go in detail about the specific margin required to trade on spread betting and CFDs, you can see how the title is labeled as "leverage restrictions" and in the text the use the word "margin".
Margin is there to protect the small retail trader for one simple reason, there are many people that don't understand that trades can go against you and can wipe your account in minutes. Margin requirements are bound to the usual price fluctuations in a market, if you look at any market you will see that your margin depends on the price as well as the average volatility, so you are "forced" to have an stop that is defined at least by your margin. Meaning that if you don't have enough funds in your account to support a margin call you shouldn't trade in that market at all.
Before those regulations came in place, what happened is that people didn't account the usual price volatility in their trades so they didn't have enough funds to support the trade going against them, resulting in either getting a stop call or a negative balance in their account.
I know it is easier to think that brokers are in the dark side but those regulations are coming from the ESMA . At the time those regulations came in place pretty much every single broker tried to stop them. They sent many emails out saying they were trying to stop the enforcement of the regulation. Of course, think about that they had many retail trades that went to trade with 1K knowing nothing about trading, getting stopped and wiped in days.
Those regulations stopped many people opening an account because 1K wasn't enough to play anymore, it wasn't ever enough but after the regulations were enforced, it became obvious. So the regulations went directly against any broker business.-
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5 hours ago, jaykay said:
dmedin
Yes I think you get my drift ! Thanks.
Everyone is suggesting that I don't understand the concept of leverage. I am beginning to wonder if they understand the concept of spread betting.🙃
I never assumed that you needed help with understanding what leverage is.
Again, if you read the link I sent, it might help you to understand why they say that spread betting is a "leveraged" product.
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This link might help you as well.
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@panja I added a method to retrieve prices within the IgClient class at
Input parameters are: Epic, Resolution, DateFrom and DateTo.
Resolution is an enum also part of the repository., check the possible values there.
An example url retrieving prices for the FTSE100 from the 20th to the 21st of July with a daily resolution would retrieve two candles, one per day.
Quote/gateway/deal/prices/IX.D.FTSE.DAILY.IP?resolution=DAY&from=2020-07-20T00%3A00%3A00&to=2020-07-21T00%3A00%3A00
Producing the result of:
result:[
{
"closePrice": {
"ask": 6269.3,
"bid": 6265.3,
"lastTraded": null
},
"highPrice": {
"ask": 6314.3,
"bid": 6310.3,
"lastTraded": null
},
"lastTradedVolume": 75212,
"lowPrice": {
"ask": 6220.1,
"bid": 6219.1,
"lastTraded": null
},
"openPrice": {
"ask": 6308.8,
"bid": 6304.8,
"lastTraded": null
},
"snapshotTime": "2020/07/20 00:00:00",
"snapshotTimeUTC": "2020-07-19T23:00:00"
},
{
"closePrice": {
"ask": 6264.5,
"bid": 6260.5,
"lastTraded": null
},
"highPrice": {
"ask": 6317.0,
"bid": 6316.0,
"lastTraded": null
},
"lastTradedVolume": 74772,
"lowPrice": {
"ask": 6237.9,
"bid": 6235.9,
"lastTraded": null
},
"openPrice": {
"ask": 6268.9,
"bid": 6264.9,
"lastTraded": null
},
"snapshotTime": "2020/07/21 00:00:00",
"snapshotTimeUTC": "2020-07-20T23:00:00"
}
]
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Hi panja, I keep my code in this repository. You can see that there is an example of how I authenticate with Python.
https://github.com/oneangrytrader/brokerapiclients
I mainly use C# to send my trades, so you will see that library has more methods than the Python one. But I am happy to add anything to the Python side if you need it.
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Hi there was a question on it a while ago.
https://community.ig.com/forums/topic/9311-unsettled-debit/
'Debit' or 'credit' will depend on the side of the trade, but you can see it as a pending amount to be realised.
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DJI = Wall Street
S&P500 = US500
Nasdaq = US Tech 100
ASX = Australia 200
They are ETFs tracking those indexes. They look at the index during market hours and at the futures outside market hours. They run 24/7 from Sunday night to Friday night. GMT timezone
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I see your galimatias and raise one myself.
wed 22 july almost thu 23 order accepted buy big silver@2250 hi indeed 2505 order was closed for meI feel like we can understand each other.
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Looking at its definition on https://www.investopedia.com/top-10-s-and-p-500-stocks-by-index-weight-4843111
"Because it's weighted by market cap, the largest stocks have a big impact on both the long-term performance and daily movement of the index. The 10 biggest stocks make up more than quarter of the index's market value. This means that investors should familiarize themselves with these 10 giant components to understand what drives the broader market."
Tesla will add to an uptrend if it is performing well but that index is used to big companies so it will compensate if some of them don't perform as well as Tesla.
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The have an incredible ability to show only the winning days. None of them record it when they lose massively.
50k IMHO is still very low to scalp, trades can go wrong easily so we need funds to outsmart loses.
I loss will equal to many wins in scalping, normally to the rate of 1:50, meaning 1 loss can eat the profit of 50 winning trades by average. I don't see how you would do that with 50k.
There is a reason why they ask for 500k to become a professional trader. I believe many of those pros would be very happy to sign Oliver Velez's profit per day.
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On 14/06/2020 at 09:27, Oppcliffben said:
I am a new trader who signed up with IG. So far so good. However, I would be grateful if anyone has some free time to teach me my way around trading here, I would be thankful.
thank you.
clifford.
One of the podcasts that helped me the most has been this one:
https://chatwithtraders.com/podcast-episodes/Good luck!
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Hi there was a thread on the subject a while ago.
https://community.ig.com/forums/topic/5289-limited-risk-trading-is-not-available-on-this-market/
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Hi I wrote a bit of code today to back-test this strategy with data from 2019.
For the developers out there that are interested in running it themselves I added everything to a GitHub folder, so they can see everything in detail.
All datasets that I use are contained in the Data folder.
https://github.com/oneangrytrader/backtesting/tree/master/BackTester/Strategy
The results are attached as a picture for review.
All profits are calculated without commission, so it would be interesting to add proper commissions on CFD-SpreadBetting and Share Dealing accounts to see what it yields.
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17 minutes ago, DavyJones said:
thanks dude, I spoke to Nicholas and the sales manager at PRT London yesterday ...
I went on my side to check for the learning materials. They seem to be very detailed into everything you can do with PRT. Link to the library:
https://www.prorealtime.com/en/indicator-library
https://trading.prorealtime.com/en/programming-help
Both links seem to point to the same files at the end.
I think the course you are after is a fast track of what it is contained in those pdfs and with enough patience you would achieve the same goal.
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A while ago I received this message from IG. Are you trying to short in any of these markets?
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3 minutes ago, jeantan said:
Now I'm confused. My order should've gone through. I put an order at $524 and now it's $519. Did I put my order in wrong?
Are they not saying "you have a better option at 519, your order shouldn't be filled because the market price is better for you, so we don't fill your order".
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1 minute ago, Caseynotes said:
yeah that's right (on the Share Dealing account, also needs to go through Citibank first) but the problem here is getting the entry order accepted in the first place.
So the problem really is that no one is willing to take the other side of the trade for it to be filled.
Looking at the size it is a bit odd , 1 coin shouldn't be a problem. Like you said , it is better to speak to them.-
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I am not sure if I am pointing to the right hole, but the settlement period is T + 2 days, does that mean that you will get settled in 2 days at that price?
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Manipulation of Market Trade Prices to Induce Stops!
in Investments, share dealing, and Smart Portfolios
Posted · Edited by jlz
Helping others with their technical problems is not of a sign of being an idiot. If I had a similar problem in the past I just post a few words so they can find a fix quickly. There is a line as well as an email address for getting help from the corporate helpdesk. People come to the forum expecting the support team to answer, and they never do. Basically because they have another line to reach them. So we reply with what we think they can do to fix the problem. There is no harm on that. Normally people appreciate it, and eventually they might reply back helping others.
That lessons comes within the second year after you pass "trolling in forums 101". Be faithful, you will get there.