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  • #279,221
  • Aug 9, 2010 6:44am Aug 9, 2010 6:44am
no bounce ahead.... ?
  • #279,222
  • Aug 9, 2010 6:47am Aug 9, 2010 6:47am
Quoting egypt
in hour chart 100 ema with trend
i think its give me test for trend if cant break good position for long
Attachment
okik then we will wait it will be 76.4 on h1 fibo:d

but ill enter on daily 5sma well ill try
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  • #279,223
  • Aug 9, 2010 6:48am Aug 9, 2010 6:48am
Quoting n_aftab
I wouldnt go as far to say IG are crooks, but i moved away from them for that exact reason, any trades you have opon overnight are closed and repoened, their overnight funding rates are expensive.

And tracking trades which are negative is made harder aswell.
Thats how the overnight rate is calculated. Other MM do it maybe in another way but CMC also does it like that. If you look at the rollover buy back, its slightly higher and thats where the overnight fee is charged. Eg

U bought Eurusd @1.3280
Market closed @1.3300 overnight
MM sells @1.3300
MM buys back @1.33001

That 0.00001 is the overnight fee.

Its like how paypal includes their fees in their rate and some ppl dont realise that and accuse banks of charging international exchange fees but their rates are actually better.

IF im wrong, then feel free to correct me!! Thats how i understand it.
  • #279,224
  • Aug 9, 2010 6:54am Aug 9, 2010 6:54am
sorry

Let me clear up what i ment

IGindex overnight rate compared to a normal brokers (none spreadbet) overnight rate is very high.

N
  • #279,225
  • Aug 9, 2010 6:58am Aug 9, 2010 6:58am
Quoting dreed
Yep, I think many are waiting for a pull back to buy more, including myself.
Not me.
  • #279,226
  • Aug 9, 2010 6:58am Aug 9, 2010 6:58am
am in tide stop loss
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  • #279,227
  • Aug 9, 2010 7:00am Aug 9, 2010 7:00am
Quoting yaed
STAY THE **** away from IG markets, its a big scam. They bet against theyre own clients, i KNOW i lost 75% of my tradingcapital with these filthy crooks! They take youre money and find some strange excuse to do so, close youre account today is my advice.
They (IG Markets) are definitely not a big scam. That is an absurd thing to say. You most probably lost 75% of your capital due to your own stupid trading decisions. You need to take responsibility and not be so quick to blame others.

The post you quoted was from a newbie, who started trading forex without doing any research into the basic mechanics of the market, which is evident by him/her being shocked by a rollover occurring, and then implying this was at least in part to blame for their realised loss. Crazy logic, in my opinion.

I've been with IG Markets for a couple of years and, aside from the odd pip or two slippage on the occasional order, I've no real gripes with them. They're not my favoured broker for spot trading, but they are more than adequate a place for one to hold a sub-account with.
  • #279,228
  • Aug 9, 2010 7:02am Aug 9, 2010 7:02am
Quoting Spoony
Thats how the overnight rate is calculated. Other MM do it maybe in another way but CMC also does it like that. If you look at the rollover buy back, its slightly higher and thats where the overnight fee is charged. Eg

U bought Eurusd @1.3280
Market closed @1.3300 overnight
MM sells @1.3300
MM buys back @1.33001

That 0.00001 is the overnight fee.

Its like how paypal includes their fees in their rate and some ppl dont realise that and accuse banks of charging international exchange fees but their rates are actually better.

IF im wrong, then...
If I'm understanding you correctly, you're saying that they close the clients trade at the close of the market, and then open another trade in (almost) the same place?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #279,229
  • Aug 9, 2010 7:09am Aug 9, 2010 7:09am
Quoting manojsai
i have buy pending orders at 3256,3249 and 3241 sl 3222
My buy orders filled.........waiting for the wind to sail my ship.
  • #279,230
  • Aug 9, 2010 7:10am Aug 9, 2010 7:10am
out 5 pips on M5
  • #279,231
  • Aug 9, 2010 7:10am Aug 9, 2010 7:10am
Quoting realjumper
If I'm understanding you correctly, you're saying that they close the clients trade at the close of the market, and then open another trade in (almost) the same place?
This is from a cmc account. I bought usd/jpy previously. It sold first and bought back at the exact time.

http://img31.imageshack.us/img31/8998/rolloverc.jpg

The fee is about US$2.28 for US$25.4 per pip for overnight. Which is about 1 pip every 10 days i hold overnight. Is this overpriced? Wat do other mm charges?
  • #279,232
  • Aug 9, 2010 7:10am Aug 9, 2010 7:10am
Quoting style2fx
no bounce ahead.... ?
Accumulation looks like bounce upside now but might just want to try touch fib 76.4 and get rejected.

Might be a little bit choppy fora while. Myself expected to it go around 1.3220 and rebound there. Might still happen.
They think they are smarter than I am.
  • #279,233
  • Aug 9, 2010 7:14am Aug 9, 2010 7:14am
Quoting Z3iz3i
Accumulation looks like bounce upside now but might just want to try touch fib 76.4 and get rejected.

Might be a little bit choppy fora while. Myself expected to it go around 1.3220 and rebound there. Might still happen.
Between 1,3200 & 1,3215 i"ll start buying
I'm trying a tiny short here at 1,3250 for 40-50 pips
We'll see if NY bring the pair for a better buying opportunity for tomorrow FOMC
COT: The precious data ignored
  • #279,234
  • Aug 9, 2010 7:14am Aug 9, 2010 7:14am
Quoting Spoony
This is from a cmc account. I bought usd/jpy previously. It sold first and bought back at the exact time.
So let me get this straight....just in case I'm real stupid!!

If I want to go long right here, right now, and my target is 1.4000.....because I trade long term. My SL would be (say) 1.3100. Let's suppose that in the next hour the PA drops 80 pips and stays there until market close. You're telling me that they will close my trade at -80, and then open another trade for me??? Tell me that I've got this all backwards, please!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #279,235
  • Aug 9, 2010 7:19am Aug 9, 2010 7:19am
Quoting kuroro001
Between 1,3200 & 1,3215 i"ll start buying
I'm trying a tiny short here at 1,3250 for 40-50 pips
We'll see if NY bring the pair for a better buying opportunity for tomorrow FOMC
Possibly, it may be a good short in a few.
They think they are smarter than I am.
  • #279,236
  • Aug 9, 2010 7:20am Aug 9, 2010 7:20am
Its an automated system. If they "close" your trade, they will buy/sell it back at exactly the same time. Its like a transaction fee. They wont "close" your trade and thats it. Its like an accrual. Theres always two transactions. Check your log. I dono which mm u use but thats how mine works :S.
  • #279,237
  • Aug 9, 2010 7:22am Aug 9, 2010 7:22am
Quoting Spoony
Its an automated system. If they "close" your trade, they will buy/sell it back at exactly the same time. Its like a transaction fee. They wont "close" your trade and thats it. Its like an accrual. Theres always two transactions.
Ohh ok....I see...thanks. So what they take is (more or less) 1 pip as a rollover fee, but the original trade stays as it was?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #279,238
  • Aug 9, 2010 7:23am Aug 9, 2010 7:23am
Quoting realjumper
Ohh ok....I see...thanks. So what they take is (more or less) 1 pip as a rollover fee, but the original trade stays as it was?
1 pip overnight is quite high, mine is 0.1 pip but its different for others. I believe its based on interest rates of the currency u buy as well.
  • #279,239
  • Aug 9, 2010 7:25am Aug 9, 2010 7:25am
well if it is that case, does the spread include while they doing the buy and sell transaction? It would be suck if u are 40pips in profit but turns out to be 38pips lol
  • #279,240
  • Aug 9, 2010 7:26am Aug 9, 2010 7:26am
Will NY come in with the firepower to go up? Correlation to oil alone should have this trading at 1.3295.

EUR yields seem to be moving back up also.
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