Long on the FTSE??

[Chris0770]

Hi guys,

Im pretty new to spread betting and would be grateful for any input about where best to trade.
Being new I want to keep things simple and take it from there....I have been SB with IG Index for a few months now and making a tidy profit each month....but I would like to make some rolling bets on the FTSE 100 and to my knowledgee IG Index does not allow rolling bets.

Anyone have some experience on where best to place such bets and any opinions on what I should be careful about.

Any input would be great guys!!

Thanks C

 

[Martinghoul]

What do you mean by 'rolling bets'?

 

[TheGoose]

362 posts and you don't know what a rolling bet is?

Chris, IG do offer rolling bets in the FTSE, it's just the daily FTSE and you have the presets on your account as to whether you wish to roll. Hope you're not limited risk though

 

[Chris0770]

A Rolling Index Bet - currently IG will automatically close the postion at the end of every trading day, however I would like the positions to remain open for a longer period of time and be able to manually close the positions. (Roll over to the next trading session). I am aware that Overnight Financing Charges are applied but not sure which company is best to use for this...as to my knowledge IG do not offer this.

C

 

[TheGoose]

A Rolling Index Bet - currently IG will automatically close the postion at the end of every trading day, however I would like the positions to remain open for a longer period of time and be able to manually close the positions. (Roll over to the next trading session). I am aware that Overnight Financing Charges are applied but not sure which company is best to use for this...as to my knowledge IG do not offer this.

C

Chris,
Every spread bet firm offers a Rolling FTSE.

 

[Chris0770]

TheGoose,

Thanks for the input.....just sorting it now....As I mentioned, im still new to the SB world. Much apprechiated.

C

 

[TheGoose]

TheGoose,

Thanks for the input.....just sorting it now....As I mentioned, im still new to the SB world. Much apprechiated.

C

No worries, good luck

 

[Martinghoul]

362 posts and you don't know what a rolling bet is?

Chris, IG do offer rolling bets in the FTSE, it's just the daily FTSE and you have the presets on your account as to whether you wish to roll. Hope you're not limited risk though

I didn't say I don't know what a rolling bet is... I asked what the poster means by a 'rolling bet'. Hope you can see the distinction.

Now, Chris, in response to your question, yes, if you trade the dailies you can get IG to roll the trade every night, instead of settling it. One thing to be aware of is that there's a cost associated with it. It's not the full bid - offer if you were to leg the roll, but it's not 0 either (you should find out what it is, as it varies). Effectively, this implies that your daily rolled FTSE will incur a negative cost-of-carry above and beyond what's in the mkt.

As an alternative, you may look into trading the future, instead of the daily. The bid/offer is wider, but it may be more economical depending on the time horizon of the trade.

 

[chezlaw]

Hi Chris

I rollover on the FTSE regularly at IG.

To request it click on My Account->Settings->Rollovers

 

[Martinghoul]

Hi Chris

I rollover on the FTSE regularly at IG.

To request it click on My Account->Settings->Rollovers

Are you happy with the fact that you're charged bid/offer on the rolls?

 

[chezlaw]

Are you happy with the fact that you're charged bid/offer on the rolls?

Its 0.5 points on the FTSE I think. Fiday 16:30 I was short @ 4706 when it rolled over to 4705.5

Wouldn't say I'm happy to be charged anything but I don't rollover enough to make it worth buying the future so I don't see any choice.

I'm more unhappy about not being paid interest on my balance.