Citroen, I am also paper trading at the moment, following things in a spreadsheet. On the last trade I got a profit of 94pts. The difference with Hugo's quoted values are I guess due to bid offer spreads and down to the exact timing when you got on the trade. But a profit is a profit! And 94pts is certainly nothing to be sniffed at, especially over only a few days. Let's see how the current trade pans out, after that I might jump in!
Bigbusiness
Experienced member
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Hi Hugo,
What time did you get 5460? I could only get 5441. Did you get it after the close or this morning? I will have to try harder next time.
What time did you get 5460? I could only get 5441. Did you get it after the close or this morning? I will have to try harder next time.
Have taken this quiet period at work as an opportunity to do some more research, and would appreciate it if someone can help me with the following. Basically I use IGIndex for my spreadbetting (essentially FX to date). As far as I can tell they have no rolling cash bet like D4F, or they do but you have to call every day and they charge you additionaly spread for rolling. A rip off in other words.
So the only option for me is taking the bets using the futures (e.g. would use December 03 futures right now). Does anyone else do this using index king's strategy? And does anyone else follow his tips and use IG? If so exactly what instrument do they use?
So the only option for me is taking the bets using the futures (e.g. would use December 03 futures right now). Does anyone else do this using index king's strategy? And does anyone else follow his tips and use IG? If so exactly what instrument do they use?
geckotime ig do the ftse/dow trade as a diff trade for you spread is wide at 22 points but it saves getting requoted on one half of th trade they follow the dec futures so you will need to subtract 35 points off indexkings figures to get your entry point , it sounds alot but you will get it back when you close the trade , i did the last trade using this and got 105 points after all spread costs , currently sold at 5405 with ig which is the same as 5440 with cmc , i know i jumped in early as i could have got 5415 but you live and learn,
Hi Gecko,
I'm using Fins Nov futures at the mo - prices are reasonably close to cash but u need much more margin.
Plan to move to d4free - trouble is, their MM software doesn't work thru the corporate firewall - hope they have a web based lite version - otherwise i'll have to place / exit after close - just like Hugo
I'm using Fins Nov futures at the mo - prices are reasonably close to cash but u need much more margin.
Plan to move to d4free - trouble is, their MM software doesn't work thru the corporate firewall - hope they have a web based lite version - otherwise i'll have to place / exit after close - just like Hugo
Mombasa yes that is a problem with the futures, margin is much higher so I'd need a bigger balance. Shogun I did notice that IG had a FTSE/Dow differential trade, but thought the 22 pt spread was a bit aggressive, although I guess it's not too far off from the spread on the 2 legs (dow, ftse). Interesting to know that it works off the futures though, I thought it might be the cash. Shogun a couple of questions for you though if I may:
1. What do you mean by saves getting requoted on 1 half of the trade?
2. Why do you need to subtract 35 points to get your entry point? Is this always the case? Why do you say you'll get it back when you close the trade? (is it because the differential is fixed so all you're worried about is its movement)
3. Why is your 5405 the same as 5440 with D4F (noting that the differential is 35pts, so may follow from the above!)
4. Even at 5440 equivalent, you're still 36pts off Hugo's recommended point. He says that 25pts is the max. Does this concern you at all?
Sorry for being a pain, but just like to know what I'm doing before I do anything! Thanks for the help
1. What do you mean by saves getting requoted on 1 half of the trade?
2. Why do you need to subtract 35 points to get your entry point? Is this always the case? Why do you say you'll get it back when you close the trade? (is it because the differential is fixed so all you're worried about is its movement)
3. Why is your 5405 the same as 5440 with D4F (noting that the differential is 35pts, so may follow from the above!)
4. Even at 5440 equivalent, you're still 36pts off Hugo's recommended point. He says that 25pts is the max. Does this concern you at all?
Sorry for being a pain, but just like to know what I'm doing before I do anything! Thanks for the help
Hi Mombasa
I got that difference around 9:15-9:30 last night but it was a bit flukey ! The Ftse suddenly dropped and made up 20 points with a slight rise on the Dow.
Everyone seems to be jumping in urgently on this next trade. Theres no shame in waiting or even waiting for the reversal if the difference doesn't occur.
There will be many more trades anyway so missing one is not that bad !
Hugo
I got that difference around 9:15-9:30 last night but it was a bit flukey ! The Ftse suddenly dropped and made up 20 points with a slight rise on the Dow.
Everyone seems to be jumping in urgently on this next trade. Theres no shame in waiting or even waiting for the reversal if the difference doesn't occur.
There will be many more trades anyway so missing one is not that bad !
Hugo
geckotime
1/ if on cmc you place two trades at the same time sometimes they will fill one say ftse long and then give you a requote on the dow short which can be 2-5 points against you .
2/ the ftse/dow diff on ig is based on the dec futures which are currently 35 points below cash you get it back when you close as they should still be 35 points below the cash price,so if when indexking says close the trade the cash is 5330 the ig ftse/dow diff trade should be 5295,
3/ 5405 = dec fut 5440 = cash , current quotes ig ftsedow = 5437 & cmc cash = 5471 , the point moved is relative so the same.
4/ why did i enter at 5440 ,my mistake as i read indexkings post as exit & reverse ,which i did then realised the reversal figure had not been met , opps should pay more attention.
1/ if on cmc you place two trades at the same time sometimes they will fill one say ftse long and then give you a requote on the dow short which can be 2-5 points against you .
2/ the ftse/dow diff on ig is based on the dec futures which are currently 35 points below cash you get it back when you close as they should still be 35 points below the cash price,so if when indexking says close the trade the cash is 5330 the ig ftse/dow diff trade should be 5295,
3/ 5405 = dec fut 5440 = cash , current quotes ig ftsedow = 5437 & cmc cash = 5471 , the point moved is relative so the same.
4/ why did i enter at 5440 ,my mistake as i read indexkings post as exit & reverse ,which i did then realised the reversal figure had not been met , opps should pay more attention.
GeckoTime
To avoid having to phone up and roll over the bet each day, just phone their customer services and ask them to accept your instruction to automatically roll over any bet you place from now on. They will confirm this by email immediately then all bets will roll over without you phoning. Sorted.
To avoid having to phone up and roll over the bet each day, just phone their customer services and ask them to accept your instruction to automatically roll over any bet you place from now on. They will confirm this by email immediately then all bets will roll over without you phoning. Sorted.
mos, thanks that's a good tip!! I will do that. Not sure though but I think that for the index king strategy it is best to use the futures or the FTSE/Dow differential. Spread on the latter two is 22 pts. On the rolling cash it's 4 for FTSE, 8 for Dow. That's 12. Plus as far as I can understand they charge half the spread per day to roll over, so that's an additional 6 every day. Unless a trade lasts <3 days I think the futures or differential make more sense. Please correct me if I'm wrong!
I'm still in the Dow/Ftse trade, this is my 3rd trade following indexking. got in at the start of October with the never ending sell Dow/buy ftse which ended up with a 15 point loss. Next one was in profit so I'll hold on to see how this does.
Hopefully the Dow wont try for the 10000 level!
Hopefully the Dow wont try for the 10000 level!
citroen999
Junior member
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hi
i made a paper trade profit of 29 pts
How did you all get on?
Got to trade for real sooner or later........
Thx
i made a paper trade profit of 29 pts
How did you all get on?
Got to trade for real sooner or later........
Thx