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Stonk

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  1. Of course you believe you know better than the market. You'd better rein that in: relegate it from "firm conviction that I cannot be wrong" to "well-researched belief with a stop-loss attached in case I'm wrong". You mention a "predictable news flow that would have set them right in due course". If it's all so predictable and your "deep DD" is so infallible, why didn't it tell you hold off and invest after the upcoming £7500 loss? "Deep DD" also ought to have lead you to realise that CFDs are a bad way to take a position on something that needs considerable time.
  2. If an open position is at a loss, then that's its value. By closing it, IG are equally likely to have saved you from further losses. You can't argue that future news flow would return it to profitability. Any expectation of that, and its likelihood, are already built into the price. It might happen, but it also might not, and the current price is at precisely the level that reflects that balance of possibilities. You did not lose £7500 the moment IG closed the position. You had already lost it. Bottom line, if you cannot tolerate losing £7500, then you should not let your po
  3. The Demo account is good to watch the way markets move, and to learn your way round the interface quickly and efficiently. I tend to nurse and tweak my positions as the situation evolves rather than "fire-and-forget", so it's important I can make adjustments rapidly and accurately. A strategy that is only slightly profitable in Demo might not be profitable in Live. A strategy that loses in Demo will definitely lose in Live. Slippage works both ways, of course: sometimes you close in profit at a more favourable level than you requested. It just seems that overall Live is a bit harsher
  4. I can answer from a spread bet perspective. CFD might be different. The prices are expressed in "points". Your trades are based upon a certain stake per point. Your profit/loss is your stake multipled by the number of points moved. For a Silver spread bet, a "point" corresponds to a US cent in the price of silver. When you see the IG price as 2510.5, then silver is at US$25.10, but you need to think in cents. Your profit/loss will be your stake multipled by how many cents silver moves. A point is not necessarily the minor unit of currency. For Gold, a "point" on the spread
  5. I used a Demo account for a few weeks. The data feeds, and hence the charts, seem to be the same as Live, i.e., perfectly real-time. Just note, however, that the trading experience is not the same. On Demo, every order goes through at the exact price you ask for, with no slippage.
  6. During the 07:00-07:01 candle, as you say, the mid price hit a high of13762.1, which was well under your stop-loss. However, the high bid and ask prices were 13757.1 - 13767.1 (a spread of 10), and since the ask was above your stop-loss it triggered. Painful.
  7. I suspect I might have been caught by a similar thing once or twice, so I'm interested in investigating this using the chart. I assume this is GBP/USD. What time did it open and close? As accurately as possible, please. To the second would be good. I have put a couple of my unexpected closures down to a sudden widening of the spread. Which, of course, you have no control over.
  8. I'm not sure how being unable to trade has cost you money. At best, trading via IG is a zero-sum game, so unless you have compelling evidence why you are an exception, the statistical expectation is that being unable to trade has saved you money. Oh, and pointing to a potential trade in retrospect and saying "I would have done that" does not count. If it did, we'd all be zillionaires.
  9. Aha, I just spotted this in the Rollover block of the Info section: Usually, initial position closed at official closing level of day before last dealing day +/- closing spread; new position in next contract opened at official closing level of the new contract from same day, +/- opening spread. Goodness knows why, though.
  10. The short answer is that gold futures expire on the 4th business day prior to the first calendar day of the contract month, which is 26 March 2021. This is detailed here: https://www.ig.com/ie/markets/commodities/commodities-cfd-costs-and-details. The expiry date rules for futures can be pretty random. The take-home message from that page is: assume nothing -- and certainly not that an April future will last until April! An easier way to know a specific expiry time is from the Info section, as in my image below. Mind you, this indicates that the Gold April 2021 future expires at 1
  11. It sounds like maybe you're doing share dealing, whereas I'm using spread betting, but the following might have a useful analogue: In my Positions window in the web interface, there is a column I've added (via the 3-lines hamburger icon at the top-left) called "Profit/Loss (GBP)", which converts the standard "Profit/Loss" column to my account currency. I don't know, but it might take account of the exchange costs. Might be worth a look, see if you've got anything similar. I'd be a bit peeved if that column said I had a profit at the moment I closed a position, and then actually it
  12. Anything is possible, given that this seems to be a typical thought process of many US "investors". There seems to be no shortage of willing Ponzi participants for the real day-traders to extract money from. "... my new hobby is day-trading ... last week I bought some AMC ... I'm ready to hold and take it to the moon ..." So, the exact opposite of day-trading, then.
  13. What would you consider an acceptable loss for buying and immediately selling? 1% is about what I would lose if I bought and immediately sold £5K-worth of any mainstream UK share through my share dealing broker (not IG). That's two sets of commission plus stamp duty plus spread. So I wouldn't consider your experience particularly unreasonable. It's essential to understand the fees before dealing, to avoid this kind of surprise and disappointment.
  14. When were these positions opened? The times shown are when they closed. The prices in the upper screenshot (from Demo) were simply not available at 13:30-13:31 on the 17th. Immatics was around 1170 at close on the 16th and gapped up to open around 1550 on the 17th. NRG Energy was around 4350 at close on the 16th and gapped down to open around 3800 on the 17th. As such, it would appear that Live gave you correct prices and there's nothing much to complain about. Either the Demo trades were opened the day before, or somehow Demo filled you just after opening on the 17th wit
  15. I just wanted to chip in my expoerience as a new user. I spent a few weeks playing with the Demo account before going live. I would say: (a) I tried hard to think of the Demo money as real, with mostly success. I was very careful with it, and got really upset about losing Demo money. The annoyances subsided gradually, but only because I was exercising my risk muscle and getting used to the idea that you can't win 'em all. That said, ultimately I always knew it was not real cash, and that must have affected my actions to some extent no matter how much I tried to suppress it.
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