IBEX - Does anyone out there trade it ?

[nkruger]

I have been alerted to the volatility of the IBEX index by fellow member DINOS(for which I am infernally grateful) and I was wondering if anyone else trades it intraday/EOD and to what degree of success ?

I look forward, in anticipation, to numerous replies (hopefully !!)

NK

 

[Jbat001]

I trade with Capital Spreads, and they don't offer it! Do you know any spreadbetting companies that do?

 

[nkruger]

Do you know any spreadbetting companies that do?

CMC and Finspreads do - that's the 2 I'm with at the moment. CMC favourite, but I've got to open a few more accounts in the coming weeks, are CapSpreads ok ?

 

[options]

IG index offer it. I use them and cmc.

IG are a lot more comprehensive. The two even use the same charting software, but somehow IG's seem clearer and better!

They even offer some of the e wallets to fund and withdraw.

It's nice to see an old established company keeping up with the times.

 

[Jbat001]

CMC and Finspreads do - that's the 2 I'm with at the moment. CMC favourite, but I've got to open a few more accounts in the coming weeks, are CapSpreads ok ?

Yes - Capspreads are great! Been with them since October 05, and only very rarely had any grumbles with them. The prices are good, and you get computerised execution on a huge number of markets up to quite large bet levels - none of this 'refer to dealer' nonsense. Bonus is that you can talk to Simon Denham, the Capital Spreads MD over on the Capital Spreads thread if you have any grumbles to air!

 

[options]

As regards the other point of trading the Ibex. I took a look when I mainly traded futures on a very short time frame, along with a few others that got in the chat room at that time.
The general view was that it was toooooooooooo volatile, and a couple of people got burnt once or twice.

I think I may take a look from a longer time frame perspective.


I will let you know.

 

[nkruger]

IG index offer it.

It's nice to see an old established company keeping up with the times.

Now that you mention IG Index, it reminds me of an incident a long time ago - maybe 7-10 yrs - when I'd been to an evening drinks do at the old IG offices near Buck House. I got into the lift at around 10 ish together with a dishevelled gentleman who looked like he'd been dragged through a bush backwards. Presuming he was the office cleaner, I asked him how long it took him to clean the block, and did he mind evening/night work ? He replied that thankfully he had been able to give up the evening work now as he was MD now. He then introduced himself as Stuart Wheeler, and wished me good luck in my trading .......

 

[nkruger]

A new thread on the IBEX

Over the weekend I back tested (briefly) a strategy for daytrading the 'volatile' IBEX index, and I thought I would start a new thread to discuss whether 1) It would work
2) Whether there were any refinements to add an 3) If anyone was already doing it successfully.

NK

 

[Dinos]

Ibex

Good Morning

I do trade it, but not as much as the American Markets and DAX. On volatile days, you need "balls of steel", the price movement is extreme and fast moving. I've found best to trade this index around the US data release, it will mirror the direction of the DJIA, at greater acceration, very good for scalping, however, get it wrong and you can be on the wrong end very quickly.

In the fast moving times, you can be (-) your position by the time you have entered you stop loss. So if you haven't traded it before, I would suggest paper trade it first.

Good luck and let us know how you get on, I will post trades as they happen and hopefully show how quickly, you can win, (hopefully) not lose on this one.

Good luck

 

[nkruger]

I'll look forward to your trades, Dinos. What is your chart set-up for the Ibex ?

 

[Dinos]

I generally use a mixture of the following set up on all my trading, simple but effective for me, my not suit everybody

RSI Standard
MACD & Histogram, MACD set 12, 39, 9
EMA, 8 & 21
MA 10
Full stochastics
Trix

Charts 1 ,2,3,5,10.15,30, through daily, weekly

Once in, I use the ema's to manage the trade through various timeframes, when 8 below/above 21, will keep the trade open until the crossover and vice versa.

 

[nkruger]

Dinos, have a read of this: http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:the_last_stochastic_ it's a stochastic variation which I've used with some success for getting earlier on a trend - let me know what you think. The rest of your set up is roughly the same as mine (+ I have ADX/Directional Movement to see how strong the trend is)

 

[Dinos]

Nkruger, thanks, will do, I use stockcharts. cant see this in the pick list, or I am missing something?

 

[nkruger]

You're right Ibex is not listed, but I've emailed them this morning to point this out to them....

 

[Dinos]

OK, Lets keep this going and maybe get a few on board.

Good Trading

 

[nkruger]

3 nice trades today already with the 'custom stochastic set-up', and not too volatile. I think I'm going to enjoy this.

 

[options]

NK.

What setting are you using? The 39/1?
And what time frame?
The longer the frame the better the turns are highlighted.

This works very well on the dow cash under 5 min frame and gives solid signals on charts over an hour.

 

[nkruger]

NK.

What setting are you using? The 39/1?
And what time frame?
The longer the frame the better the turns are highlighted.

Yes, I'm using the 39-1-1 settings. I have found the best chance of a successful long entry is to wait until the stoch value hits a bottom value of under 5 and then reverses up - then enter long if the value goes over 25 (30 ish to be safe) and for a short entry wait until the value hits above 95 and then goes back down below 75 before you enter short. These strats get you in quite early on the new move. I am using primarily 1 min charts for nipping in and out. Haven't tried the longer time frames - do you prefer them ?

NK

 

[options]

In general yes.
I normally start off before markets open on a daily, then come down to an hour to get perspective. I only want to trade in the general direction of the trend as long as it is not near a turning point. I find this is a more relaxed way to trade. You just need a lot more patience though.

When the markets do open I will take a look at sub 5 min charts for the first hour or two, then when they quieten down move back to an hour min.

 

[Jbat001]

Now that you mention IG Index, it reminds me of an incident a long time ago - maybe 7-10 yrs - when I'd been to an evening drinks do at the old IG offices near Buck House. I got into the lift at around 10 ish together with a dishevelled gentleman who looked like he'd been dragged through a bush backwards. Presuming he was the office cleaner, I asked him how long it took him to clean the block, and did he mind evening/night work ? He replied that thankfully he had been able to give up the evening work now as he was MD now. He then introduced himself as Stuart Wheeler, and wished me good luck in my trading .......

Lol! Just goes to show, you never can tell!