I place a trade with Shorts and Longs recently on the "UK 100" Index and got stopped out at about 6p.m. Presumably there is some market in the States or somewhere where the FTSE continues to be traded after the markets have closed in the UK? I don't really like this as I don't know what's going on, and would rather trade on an index that will behave like a basket of its constituent shares, so will just be rolled over at 16:30 each day. Who offers this?
rawrschach
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VDMGM does this
arabianights
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The FTSE prices on Shortsandlongs are based on the FTSE future, which trades on LIFFE from 8am - 9pm UK time, with minor exceptions (such as when the US is in a different daily savings time or on holiday)
HTH
HTH
HaloTrader
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You got lucky then didn't you ......................................................
I don't have an account with them but I think they have a "refer a friend" scheme where the referrer and referred person each get £100. Are you able to refer me?
arabiannights, thanks. I do think I'd prefer an index that closes when trading in the constituent shares closes.
HaloTrader, no I didn't. I shorted the index at 4478 on Friday and it hit my stoploss at 4499 at 17:20 on Friday. It's now down to 4420 or something. Thing is I was relying on shortsandlongs' offer to reimburse losses up to £100 so set my stop at a point where my losses would be at this level. This is probably closer than I would have set it ordinarily.
arabianights
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Arbu... why? Most index futures contracts trade longer hours than the underlying
(a) I'd prefer not to have to keep an eye on the price for such long hours and (b) I assume that most people trading the contract in the evening UK time are in the States and that they might have different views to traders in the UK. I'm trying to get the feel of the mindset of one set of traders, not two.
SabreTT
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The uk traders will be watching the us markets anyway. I see the worth in what your saying but it could just mean a big gap in price anyway and actually the more gradual stop loss would have saved you
Watch ftse at 14:30, its all about america from then on imo
Watch ftse at 14:30, its all about america from then on imo
cadoganpier
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if you want to take a pure punt on the opening you can use capital spreads, they close at 21:00 on The FTSE rolling and open at 07:00 so obviously you can't get stopped out between those those times,you simply place your trade at 20:59, however, if you get your trade badly wrong you will get gapped no matter what your stop, its a method I use alot if I can see a clear opportunity and to be honest I have made alot of money doing it but I have also had some big hits, it also doesn't make for a good nights sleep especially as you can check the rolling daily 24 hours using other spread firms so you know what your profit or loss will be before hand!
I trade the ftse after traditional hours using spreadbetting firms "rolling futures" contracts. I dont have any problems with "irregular" price action up until the close of the underlying futures markets at 21:00 Uk time. After this time there is some suggestion that spreadbetting firms "run stops" of those holding overnight (i.e. 21:00 Uk time - 08:00 UK time). I personally am an intraday trader for whom these alledged spikes in price dont affect my trading as I dont hold over the hours when futures are closed.
