finspreads

[rossored]

Everyone will give you live streaming prices though grub - be pretty difficult if not impossible to trade otherwise.

The only problem I found with TradIndex was a) the website can be difficult to log into sometimes/most of the time b) the constant need to put your password in to authorise eveything and c) the feed is not totally "live" anyway : it only updates about every 20 seconds or so.

But I agree with you that the fictional 20k balance can be useful for seeing how easy it is to screw things up!!

 

[grubs50]

I have just started trading 4 real after months of paper trading with TRADINDEX so i'm used to their platform, it's a small account tho and i only put in limit orders and they r executed without any probs. I plan to open an account with IGINDEX soon and that is the one i will use 4 proper trading. I decided on IGINDEX after reading all sorts of opinions and talking to a few experienced traders.

 

[genti]

if you wana trade a min of £5 per point then IG might be alright.


regards
Genti

 

[jonnyy40]

One thing you should watch with IG - Your profit/loss 'box' is calculated from the current price, it doesn't take account of the spread.There's no 'real' charting - 5minute minimum period - and the spreads are huge.

 

[genti]

THATS TRUE THE SPREADS ARE HUGE AND IF YOU TRY TO DAY TRADING DON'T GET ANYWERE.

 

[rossored]

Sorry have to disagree there genti : its more than possible to day trade with IG, in fact I wouldnt use them any other way.

I trade the Dow on an intraday basis and do quite well from IG, thankyou very much, as do a few other traders I know of.

Controlled risk bets run an 11-point spread on the Dow, non-controlled an 8-point spread. You wont find much better than 8 points on the dow (6 points with a couple of brokers), and as I've said the speed of execution can be worth 1-2 points anyway.

Generally, I'd recommend them.

 

[Bigbusiness]

And the minimum bet on the Dow is £2. Not too high. They also have bets on options and binary bets. So there are now 3 ways to trade the Dow. It is possible to minimise the amount risked using options and binary bets.

 

[oatman]

They tell me you pay the spread on the way in.

 

[genti]

rossored

i meant you will get no were with IG if you trade stocks,

Rgds
Genti

 

[rossored]

Genti - sorry, misunderstood your message.

Oatman - correct, with IG's controlled risk spreads there's 11 points and it's all taken up front - ie the market has to move 11 points before you're in profit, but then there's no closing spread.

Psychologically this can make putting a trade on a bit daunting, because as you know, with most brokers and an 8-point spread you're in profit (on paper at least) after 3-4 points. Waiting for the 11 can get you thinking "have I done the right thing", but then as anyone who trades the Dow knows, if you get things right coming out of a consolidation or reversal pattern, the 11 points will be gone in the blink of an eye and you'll be at least the same amount again in profit....

 

[sidinuk]

11 point spread on the dow!! wow, that's the way to make money - for IG that is.

If you trade, say, 3 times a day that's 60 trades a month. 60 times 11 points means you must make 660 points a month just to break even!

Even if you don't take their guranteed bets and trade with 'just' an 8 point spread you still need 480 points a month to breakeven if you trade 3 times a day.

Anyone consistently making money daytrading with IG and overcoming those monumental odds against you is truly a star trader!

 

[wysinawyg]

Anyone consistently making money daytrading with IG and overcoming those monumental odds against you is truly a star trader!

Or not trading 3 times a day?

1 swing trade a month held for a few days and 11 points is just noise.

wysi

 

[sidinuk]

totally agree with you there Wysinawyg. In my opinion the SB companies are great for longer term trading where the spread is not so important. Especially share trades with no stamp duty or commissions.

Profitable daytrading is hard enough, let along trying to overcome massive odds against you. Plenty of traders fail trading in the proper futures market, where there is no spread when using limit orders or only 1 to 2 points for maket orders.

 

[rossored]

From my original post :

There will now no doubt now be an onslaught of those disagreeing with me, those who dont understand what I mean and those who think the opposite.

Hmm. Rather proven my point I think.

I dont care what anyone else thinks / trades / doesnt think / whatever. You use your SB companies, and I'll use mine.

I'm not a "star trader" but I do know when to enter and exit my trades. Beats working for a living, at any rate, so if the SB companies make money out of me and all the other "star traders" out there who consistently make money for themselves as well, then so be it.

My contribution to this now rather tiresome thread ends here!

 

[tomorton]

Annoying.

I was surprised to read on here about fins quotes taking a long time to load and being sometimes unavailable but since reading this I have found fins quotes to take along time to load and being sometimes unavailable.

Maybe I am reading too much.