Hi tekmann,
IB aren't a CFD provider.
When I change (soon) to another CFD provider (perhaps IB, any comments please), I want to make sure they're not withholding back Volume data (and book value or something I'm told...????) so I have all parts of the puzzle to form a opinion on the trade...
Also I notice they keep wanting to remove the US, HSI, YEN, FTSE feeds as I'm not currently trading them, and they claim it's cost them money, but I reference them daily, and if lost would be another part of the puzzle missing...
Certainly would make it harder for a New CFD trader to learn the ropes IMO.
SevenFX
I got some forms ready to go, tried the demo and its 'ok'
Also has anyone who still has IG seen BHP daily chart which shows a spike down back to about 1700 on the 13th Nov, whats all that about?
Opps.
I asked for comments, and thanks Prof I got comments...though I should have known that. not thinkin any typing at same time
Could you Xplain what book value or something is about when trading the spi on IB, and confirm no volume data on IG is a disadvantage...as can't understand why they withhold it...???
thanks
SevenFX
Makes me wonder how they come up with the formula for the spread. Probably the same software used in poker machines..I was trading AU200 last night and had a spread of about 40 points at one stage. First time I've seen such large gaps overnight with IG. I've seen 20 point spreads before - often enough... but never 40 points.
Well, I'm closing my account and taking the money to the casino, the odds are better.Last night on the SPI the BID/ASK spread was crazy. 40 points I'm not sure about but it was nuts.
What's with the 16 point spread on the mini?
It's not that volatile.....
Um, yes, I have been asleep the past few days (must be the altitute), and I haven't traded it during the past few days, and never during your day, as I've been asleep then too....Sorry, those spreads just sh.it me. I'll tell you what my return from the local tragamundos (local casino) is tomorrow. Cheers, SKKennas,
It's not volatile no not at all. mate it's as volatile as it has ever been! have u been asleep for the last few days? ....... buddy please.
why look at the spi out of hours... from the very little I have seen after hours it is a mirror of the US markets... why not trade them?? Kinda like going to the casino to bet on the Black Rock Stakes..
Cheers
.........Kauri
Um, yes, I have been asleep the past few days (must be the altitute), and I haven't traded it during the past few days, and never during your day, as I've been asleep then too....Sorry, those spreads just sh.it me. I'll tell you what my return from the local tragamundos (local casino) is tomorrow. Cheers, SK
Yes, in my time zone, but I'm living in a fantasy world right now. During the 'day' here, there are other priorities. Most surrounded by food and alcohol. Chillean vino is fine around brunch. eeeek!I was not trying to have a go at you Kennas, but there other contracts to trade on IG have u thought about the Wall St, FTSE100 or the German30 mini? they might suite your time zone much better.
This one comes under a 'gotcha' for those who have the unfortunate position of not keeping an eye on the contract expiry time & date. It also involves deciding which piece of data supplied by IG that you will trade by ie the pds info or the contract info, as in this case they conflict with each other.
Apparently if you want the contract to automatically rollover to the following month you have to email them with specific instructions to that effect, contrary to the contract specs as in the screen grab below. I interpreted this that the contract would rollover, but instead it was closed and a new position was not opened. This is the contract specifications as posted by IG - if you can't trade according to this info then apparently they can make up the rules as they go. As they say, it's not binding!
After words with an IG monkey, we agreed to disagree that their various contract wordings are conflicting and at best misleading.
This was the last straw with these turkeys. I am closing my account. Advise - read your documents & then ring them up to clarify each point as what is written is not what is fact.
Trade with IG at your peril!
If u don't set a roll over what do u expect? They will call u and let u know? It's your duty as a trader to understand the market you are trading.
I learnt the hard way I had a long open went short to hedge and did not realise I had to tick force open. Well I closed out my long! I called them and explained it to me. From that day on I never forgot that. You can't blame them for you not understanding your contract months expiry lol
Yes, I understand that, and my duties, but if you read the info for the contract as above it is ambiguous at least to suggest that they will close the contract at expiry then open a new one in the next contract. As I read it they will roll it over. If this is not the case they shouldn't put that information there.
Anyway, I posted it for the benefit of others so not to get caught with their 'the customer is always wrong' attitude with contract specs.
A force open is pretty self explanatory; setting a roll-over according to the contract info should be too.
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