RBS MarketIndex, anyone on here using it for CFDs?
Discussion
hi hyper, i've been tooling around for a month or so now on demo and my live account has been granted. i'm planning on using a 5k pot as this is a figure i won't b scared to make decisions with, only trading 500 units per position and doing 1 or 2 at a time maximum. in test i'm pulling out 20 odd quid every evening in half an hour or so while sodding about. might sound like small numbers but i'm aiming to trade well and not chase figures too much in the early days. the airbag on a position such as i describd above is only about 800 quid max and tbh the trades i'm doing are so small i never get anywhere near those. worst thing that's happened is a couple of times i've mistimed on buying/shorting and had to kick it into the long grass for a bit.
i guess my questions are:
1.am i approaching it the right way? numbers, attitude, etc or could/should i be more/less ambitious?
2. can you recommend any reading, specifically on candlestick reading, CFDs or crude?
3. i'm currently fitting in around work so doing a dabble each evening from 5-6 but over easter i have some time off. do you have any targetted times where i should be looking?
3. i'm reading signs of convergence/divergence, support/resistance and candles on 5 seconds for short bursts, plus 1 hour ones for slightly longer positions. am i missing a trick?
good to talk to someone else who's using this!
i guess my questions are:
1.am i approaching it the right way? numbers, attitude, etc or could/should i be more/less ambitious?
2. can you recommend any reading, specifically on candlestick reading, CFDs or crude?
3. i'm currently fitting in around work so doing a dabble each evening from 5-6 but over easter i have some time off. do you have any targetted times where i should be looking?
3. i'm reading signs of convergence/divergence, support/resistance and candles on 5 seconds for short bursts, plus 1 hour ones for slightly longer positions. am i missing a trick?
good to talk to someone else who's using this!
Y282 said:
hi hyper, i've been tooling around for a month or so now on demo and my live account has been granted. i'm planning on using a 5k pot as this is a figure i won't b scared to make decisions with, only trading 500 units per position and doing 1 or 2 at a time maximum. in test i'm pulling out 20 odd quid every evening in half an hour or so while sodding about. might sound like small numbers but i'm aiming to trade well and not chase figures too much in the early days. the airbag on a position such as i describd above is only about 800 quid max and tbh the trades i'm doing are so small i never get anywhere near those. worst thing that's happened is a couple of times i've mistimed on buying/shorting and had to kick it into the long grass for a bit.
i guess my questions are:
1.am i approaching it the right way? numbers, attitude, etc or could/should i be more/less ambitious?
2. can you recommend any reading, specifically on candlestick reading, CFDs or crude?
3. i'm currently fitting in around work so doing a dabble each evening from 5-6 but over easter i have some time off. do you have any targetted times where i should be looking?
3. i'm reading signs of convergence/divergence, support/resistance and candles on 5 seconds for short bursts, plus 1 hour ones for slightly longer positions. am i missing a trick?
good to talk to someone else who's using this!
I'll be honest and say that I'm not really a Chart person or into Technical Analysis since I find it difficult on specific stocks to get any benefit from it. If the market is strong and rising, they go up and likewise if weak they go down the difficult part is finding stocks that move further than the market. The Footsie clearly moves with the DOW and again is a fundamentals call on state of the Global ecomony. Crude is an area on its own and lately has been kind to me ( more by good luck than judgement) but all the same it was a good call. Goldmans were calling oil at $250 a barrel. If that happens we can all switch the lights off and go home. The consensus I read is that the favoured price region is $85-$95 a barrel.i guess my questions are:
1.am i approaching it the right way? numbers, attitude, etc or could/should i be more/less ambitious?
2. can you recommend any reading, specifically on candlestick reading, CFDs or crude?
3. i'm currently fitting in around work so doing a dabble each evening from 5-6 but over easter i have some time off. do you have any targetted times where i should be looking?
3. i'm reading signs of convergence/divergence, support/resistance and candles on 5 seconds for short bursts, plus 1 hour ones for slightly longer positions. am i missing a trick?
good to talk to someone else who's using this!
CFD's are leveraged positions, thats all go long and you get the dividend income, go short(sell) and you pay the dividend. I say this a years ago I shorted MAN group and not only did the price rise but also a divdend was due at 7.5%. It hurt. Like last week over leverage and you're out of the game, the CFD provider won't lose as your margin calls will usually trip in before that but not always. The only definite I have is "Take profits and cut losers" as if you run with a losing position, it may turn in your favour but especially on shorts. I personally know someone who was short on Rockhopper last year, he let it run and was wiped out
None of the banks offer their own CFD or spread bet service to retail. They are all white labels of a primary provider.
This means that it may be worth investigating what you are paying them for and more importantly what they are charging you.
Typically, many white labels will be marking up the charges from the primary, not always but with CFDs delivered in spread form it is very easy to hide this mark up thus more do so. Overnight funding is also an easy one to increase.
Many white labels will actually be offering additional services from their banking and broking side that the primaries don't or can't so it isn't always a bad thing and can be a good thing in some cases.
Basically, before opening an account it is always worth look at the direct offering from the primary firm and comparing and contrasting to see which is better for you.
The RBS deal used to be CMC Markets, and I think it still is at present.
This means that it may be worth investigating what you are paying them for and more importantly what they are charging you.
Typically, many white labels will be marking up the charges from the primary, not always but with CFDs delivered in spread form it is very easy to hide this mark up thus more do so. Overnight funding is also an easy one to increase.
Many white labels will actually be offering additional services from their banking and broking side that the primaries don't or can't so it isn't always a bad thing and can be a good thing in some cases.
Basically, before opening an account it is always worth look at the direct offering from the primary firm and comparing and contrasting to see which is better for you.
The RBS deal used to be CMC Markets, and I think it still is at present.
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