IG Index

stevespray

Experienced member
1,289 154
JSD - What you say about order processing is almost certainly true. I'm not sure if its the size of the order that they pick up on or weather they just flag your account or even a combo of both. I used to find that £80 per point went through in a few seconds and then all of a sudden it took almost a minute. In the end however this shouldnt effect the processing of the deals as I'm just as entitled to receive the service that they advertise as the next man.

Steve.
 

eminem

Active member
185 1
Do you remember some time last year there was a prog on TV following a dealer in a SB firm. Showed them sitting at a desk and some siren goes off and he explains that it goes off when someone is trying to place a large bet (£100 I think) and he then gave the go ahead to take it or not after he gave a cursory glance at his screens. Funny, only the large bets were treated this way :rolleyes:
 

adrianallen99

Established member
630 4
Bracke - I have moved to CapitalSpreads and have found it a much better experience.
The only problem I have is that they dont deal 24 hours, so it can be frustrating when you see your futures dropping knowing you cant sell.

They do Have good spreads though - 3 on FTSE, 2 On Nasdaq and 5 on Dow. Add a couple if you buy for March.
 

bracke

Experienced member
1,286 12
adrianallen99

Thank you for your reply. The spreads are better than the two companies I use namely igindex & cantorindex.

Regards

bracke
 

adrianallen99

Established member
630 4
I very rarely use daily bets on spread betting, when I started I did. I found I could lose lots of money as quick as I made it and with the SB companies tactics it was very hard to make money day trading.

Im only making about 3% profit a week at the moment, but im fairly happy with that. I made 70 points on the Nasdaq in a week which I was pleased with.
 

bracke

Experienced member
1,286 12
If you do not day trade do you use the current month or 2/3 months hence. These + day trading are the only options I have seen offered by spread betting companies.

Regards

bracke
 

adrianallen99

Established member
630 4
At the moment I use march.

This week - I gained/lost the following points
lost 27 points on boots
gained 67 points on Nasdaq
gained 2 points on dow - yes 2 points - well I was going out and didn't want to leave the position open.
 

bracke

Experienced member
1,286 12
I assume you use a far month to allow for a widish/unexpected variation in the market you are betting on. I do not know what level of stop loss you use but unless it is quite large, do you not get stopped out anyway and might as well use the daily spread which is tighter

Regards

bracke
 

adrianallen99

Established member
630 4
I usually use 2*atr (Average true range) and I base how much I bet per point on the volatility of the stock or indices. e.g if something has an ATR of 60, I could bet say £2, where as if it had an ATR of 10 I would bet £12 per point. I find this way the move will roughly be equal in a £ basis and helps reduce my risk.

I either trail my stoploss using 2*atr at an end of day close basis, or I look for a breakout in the opposie direction.

I use a far month in case I hit a decent trend, If I do then a few points extra on the spread doesnt make much difference. Also spreads are pretty good on CapitalSpreads, It doesnt work as well on IGIndex.

I only day trade the Dow, so only buy dailys when trading it.
 

adrianallen99

Established member
630 4
Oh and just in case you are interested I calculate my ATR on a 20 period basis.
 

bracke

Experienced member
1,286 12
I think I understand your answers. Basically the wider the atr the less you risk

Does not using 2* atr end of day close as your stop loss level give you a large stoploss figure when the market is running high eg the dow over the past 20 days?

What are the range averages you use?
day high to day low
yesterdays close to today high
yesterdays close to today low

Regards

bracke
 

adrianallen99

Established member
630 4
bracke said:
I think I understand your answers. Basically the wider the atr the less you risk

Thats it. Works for me anyway.

bracke said:
Does not using 2* atr end of day close as your stop loss level give you a large stoploss figure when the market is running high eg the dow over the past 20 days?
[/B]

Dont use it on the dow, I only day trade the dow, so not much point in setting a stop at 2*atr. I only trade dow maybe once or twice a week at the most.

bracke said:
What are the range averages you use?
day high to day low
yesterdays close to today high
yesterdays close to today low
[/B]

In excel the formula would be =max(H-L,PDC-L,H-PDC). I then take the average of this over the previous 20 days.

H=High
L=Low
PDC=Previous days close

-------------

The reason why I do this is because it works for me at the moment, on shares anyway.

For example Brit airways was at 232 the other day and I went long. The atr was 7.5 (28atr=15) so I set a stop at 217. It then proceeded to drop over the next few days on next of terrorist threats, but because it didnt hit my stop I kept if open even though I was doubting my decision. It is now at 292, which is a 60 point gain.
 

bracke

Experienced member
1,286 12
So before you make a trade on a share or indices you have to input the necessary data to excel in order to calculate the atr, or do you get the data from somewhere else

I'm a little confused by the formula, are the commas and minus sign in the correct place, if they are I would appreciate a more basic description.

Do you use the atr to decide when to close the trade?

Regards

bracke
 

adrianallen99

Established member
630 4
Basically the , are the seperators between 3 options
1) High - Low
2) PDC-LOW
3)High-PDC

the highest option is the result excel gives and is the true range.

I sometime input it manually and still do when looking for breakouts. But a lot of charting packages have atr as an option. so I would select ATR on a daily chart over 20 periods.

Sometimes I trail 2*atr as a stop loss other times I just look for a breakout in the opposite direction. It depends on why I entered the position in the first place I guess.
 

bracke

Experienced member
1,286 12
Please excuse my continuing questioning

1 Are the High and the Low that you use taken from the current
day?

2 Why do you input manually if you have a charting package?

3 Do you use the sysem for Indices if not why not?

Regards

bracke
 
 
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