IG Index

[gle101]

I dont subscribe to the black swan theory of the possibility of all my positions blowing up at the same time. I have normally 10-15 open positions, with a total captial exposure of between £400k and a maximum of £1.5m If they all went to zero overnight then I would be in a total mess. but the postions are over a number of different markets, different industries, different sectors. i've been doing this for a long time, so whilst my risk management probably wouldnt suit most people, it works for me..

It all depends on if some of the positions in fact work as hedging. We all remember the Flash Crash. I guess a few thought that would never happened.

 

[CityTrader]

will nothing is impossible , did you try it during the credit crunch ...

Yes. I almost went bust. gave back everything I'd made ( and spent! ) in 2007 and more.

 

[gle101]

Not for rich traders , if you have 1 Million pounds for trading would you put them all in your trading account ?

Yes that is correct, but it doesn't apply for the most of us, at least not trading SB.

 

[gle101]

Yes. I almost went bust. gave back everything I'd made ( and spent! ) in 2007 and more.

Ha ha, nothing to laugh about but thanks for admitting it.

 

[tar]

Yes that is correct, but it doesn't apply for the most of us, at least not trading SB.

Its certainly applies to some SB traders ...

 

[gle101]

Its certainly applies to some SB traders ...

I have several SB accounts, I try apply money management on each account (still after so many years struggling with this though). But I am still in the game and money management is definitely one of the reasons. No really, it is very easy in this game to get into self-deception and side step from the trading plan. I think traders who have been around for some time acknowledge this being a fact, and are working to avoid this pitfall.

 

[tar]

You can read some stories here , pages 1-3 , pay attention to the figures

Spread Betting real stories from spreadbetters

 

[gle101]

You can read some stories here , pages 1-3 , pay attention to the figures

Spread Betting real stories from spreadbetters

Thanks, I will have a look at these stories.

 

[ZEN archer]

Are you still using them dd?

As you pointed you had no problems withdrawing the money, but must've been really difficult to make profit?

Its a scam, losing punters can bet as big and as often as they like, as long as they keep losing. Winners are hindered with delayed and cancelled orders.

It is a position sizing system for the spread bet companies.. let the losing punters run but cut the winning punters short.

Also you cant win with binaires in the long run.. as a last resort the spread bet firm can keep widening the spread on your favourite binary instrument until it becomes almost impossible for anyone to make money with it.

 

[tar]

Maybe our "professional" friend here will get paid the 70k from IG , comes to mind the latest Spreadex boy case ,the judge held that Spreadex customer agreement was not a biding contract :

Spreadex: don't gamble with your T&Cs - Lexology

 

[gle101]

Maybe our "professional" friend here will get paid the 70k from IG , comes to mind the latest Spreadex boy case ,the judge held that Spreadex customer agreement was not a biding contract :

Spreadex: don't gamble with your T&Cs - Lexology

Yes this is absolute the right decision by the judge. The SB is not protected in all circumstances by the T&Cs as many spread betters think. You also have the MiFID financial directives that cannot be override by clauses in the T&Cs.

 

[CityTrader]

They claim that they've discovered that he didn't provide an accurate information in his application . We've seen his bio : "Product specialist - UK Equities @ UK's largest investment house " , i think this explains the 5-20min binaries big bets . I would love to hear from an IG rep on the matter ....

TBH I think hearing from the compliance office where he works would be far more interesting!!!

 

[dalvo]

just a random question for a newbie using IG (but long experience with other platforms)....after reading this and depositing over 10K today - should I use IG or walk away and carry on with city index?

 

[D70]

just a random question for a newbie using IG (but long experience with other platforms)....after reading this and depositing over 10K today - should I use IG or walk away and carry on with city index?

IG is the best SB out there.

But i'd only use it if you cant afford a proper account.

 

[Striiker]

Spread betting - A bettor's way to invest - IG - Telegraph

IG doing a City Index

 

[djrivum]

Newbie question...
This thread has got me wondering about what restrictions are used by SB companies like IG when customers place big pip sizes.

I personally use IG and don’t go beyond £5/pip and not had any problems with any aspect but if I were to go upto £20, £50, £100/pip would I experience problems getting filled?, Delays?, extracting money should the market go my way or any other weirdness? I don’t specifically mean with IG but just with any SB company in general.

if so what options would I have to prevent this?

 

[neil]

Spread betting - A bettor's way to invest - IG - Telegraph

IG doing a City Index

Great post-

Note the teacher had fifteen wins and seven losses yet deviating from his strategy and overconfidence cost him dearly.:smart:

 

[Hoggums]

Alice Collins finds herself in a good position, thanks to a weekly profit of £72, leaving her £42.25 up over the three weeks.However, she has open positions that are showing losses of £557.56. “I’m hanging on to see if the prices go back up. Clearly what happens with my open bets will affect my strategy – I may need to be a bit more cautious.”

So you lost £515 love - 50% of your account

How on earth can that be a good position when it puts you bottom of the table !

Another lesson in the worst mistakes of trading.

 

[random12345]

Newbie question...
This thread has got me wondering about what restrictions are used by SB companies like IG when customers place big pip sizes.

I personally use IG and don’t go beyond £5/pip and not had any problems with any aspect but if I were to go upto £20, £50, £100/pip would I experience problems getting filled?, Delays?, extracting money should the market go my way or any other weirdness? I don’t specifically mean with IG but just with any SB company in general.

if so what options would I have to prevent this?

Within liquid hours I find they generally provide instant execution up to £300/pt on most forex (Euro pairs anyway), sometimes £400 on EURUSD. I think it's Alpari who outright guarantee these levels on their website as instant fill, whereas IG don't, but it appears pretty automated at these levels to me, doesn't act any differently than £10 a point except when the underlying market is dead (though I'd argue the EURJPY should fill better overnight than it does). Only problem I have is position reversal, i.e. if I sell £800 to reverse a £400 buy, it's only a £400 sell position, but the system seems too stupid to realise this so I have to close and reopen, which is cumbersome and has the exact same result. On the Dax I don't go more than £300 as I still make mistakes, but the goon they assigned me as my 'dealer' reckons you can go up to £500 without dealer referral with the usual liquidity disclaimer. I have never and would never bet the FTSE so I don't know about that.

The only 'weirdness' you'll notice is that when the position ticks against you by 10 pts, you're in a 4 grand hole instead of a 20 quid one. You'll decorate your pants for many months and make bad decisions as a result.

Anything more than £500 you need proper direct market access and not a spread better, so long as you gross up your annual target profit for 50% tax and class 4 NI of course. I.e. multiply it by two with change! Good luck with that.

 

[random12345]

Spread betting - A bettor's way to invest - IG - Telegraph

IG doing a City Index

Wow - awful. Not to mention terribly dull and uninspired.