Hi All, IG are operating up-down bets on indices anyone out there got the strategies right for this.
as there are staking strategies to play this and with simple M/A crossovers that might be used as a basic system.
Is there a guru on this about?
I usually bet on the IG index Binary once or twice a week. It is like day trading. I was in the money and went to lunch, came back before Dow Jones opened and had to close the bet at a heavy loss. Main bit of information I get from various web sites. Also listen to Morninhg Trader on LBC 97.3 between 5 and 6 every morning as and when my eyes open. I basically don't think any form of charting works for this particular bet. Bought a book today called "How to Win at Financial Spread Betting". I'll let you know how I get on.
I made some money trading on days when I thought the Dow would reverse an early move. Worked well for the first few trades but then I picked a few days without a reversal and gave it all back!
I have given up on IG for now as the online trading system has crashed a few times and every time I trade the spread seems to go against me before the order is processed. This turned one winning trade in to a small loss and was the final straw. I have also read of other traders having problems and IG wont compensate for errors with their trading platform. So they have lost my custom until they sort it out.
It helps take a look at the Nasdaq pre and post market at http://www.advfn.com/cmn/pbb/thread.php3?id=2753978o
Bloomberg TV listen to news, watch facial expressions and look for futures to be at least plus or minus 20.
The Dow is very volatile at the moment and if you take a low binary entry, less than 30 and are prepared to wait the Dow should put you in the money. It will remain tricky until it breaks out one way or the other.
By the way IG don't pay a 100 ( they know how to clip the chicken ok!) as best I get is 97.
Indicators are absolutely useless, look for a strong trend on a 15 min chart to judge which way the Dow should move tomorrow then listen to the news. By which time the binary will be above 60 giving plenty of room to get killed as no stops allowed. IG have moved the 3pm close to 6 oclock. This is actually an advantage to us to have an extra 3 hours volatility.
Volatility intra day will settle down soon. There is rather more to it though for example its a good idea among other things to keep an eye on TRIN value. Its not perfect but it helps.
Did you notice the fiasco with ig index yesterday 16/9/2003.
The interface collapsed quite you might say deliberately at about 5pm gmt and was unavailable online dealing till 3am 17/9/2003.I wonder what is going on this tends to happen on when ever something important is on like greenspan etc.
Having watched the program about them a few months ago, they don't seem to have fixed the same problem they had then. If too many clients log on the online system crashes. At least they can be contacted by phone but I would never use their online system at busy times.
There was a point yesterday where betfair went down as well. Any conspiracy theorists out there?
In common with a few others here, I have also experienced what I could consider as potentially sharp practice from IG, particularly on losing out limited risk bets; but I don't see how they could influence the binary bets, so I'm happy to use them.