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Trading the XJO with CFDs

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Re: Trading the XJO with CFD's



Yeh I just opened my account with them last friday and there platform is great, but they have a lack of indicator options compared to IG.

Also I found there margin is higher then IG MBL is 10% PC on IG 5%

I have not had a great look at there platform yet so can make much more of a comment then that.
 
Re: Trading the XJO with CFD's

UF

Great posts

I am looking to fine tune my pyramiding skills as it is great way to maximize your returns.

from what i just read you have a great formula.

I am not looking at the short term charts that much stick to the daily on IG and weekly on stocks.

I use MACD on IG with MA's plus triangles and support resistance, what do you make of Repulse indicator?

Gold and Oil, again there are advantages and disadvantages of the 24 hour markets, I have dabbled in them but with any future you have to have a good understanding of how it can move. i have been fooled many times thinking it will fall due to a move then it went straight back up. Had a couple of nice trades.

I need much more experience before I do it full time.

UF, totally agree with binary specials are real gambling never even looked at them.

I think the casino is much more fun then gambling on the market. at least there are lovely young ladies around to look at while you lose!

Great to see this topic is a live and well.
 
Re: Trading the XJO with CFD's

Hi there guys, thanks for the feedback!... my next shipment of books has arived today.. so I am gunna get stuck into them. I will look back in on this forum often.

code.
 
Re: Trading the XJO with CFD's


So far i've taken test trades on GOLD, OIL, and the ASX 200. The GOLD spreads are good, but oil is 5 points.

Getting used to the platform now. I like the charting but it could use volume on more instruments.

Looking forward to shorting some stocks.

So far so good.

The XJO looks like it might be bullish after all, testing highs today, critical juncture now?

Cheers,
 
Re: Trading the XJO with CFD's


Hate to toot my horn but i was bullish since the 15th it really showed it was doing something that day.

Have also added another mini aussie200 contract to the mix today.

I agree not enough volume on the commodities i have a account with xpress trade futures they display open interest volume.

what i love about IG platform is it is so easy and user friendly.

I am totally bullish now as well, I am long ASX, CSL, RIO, WPL, Aussie200cash and Wallstreet cash mini.

*but the above are no recommendation!*

Happy trading guys!
 
Re: Trading the XJO with CFD's


CanOz

What indicators do u use on the ig AD charts?

Do u use Repulse?
 
Re: Trading the XJO with CFD's

Trade_It said:
CanOz

What indicators do u use on the ig AD charts?

Do u use Repulse?
Click to expand...

Fib, Support and Resistance lines, and occasional Stocastic.

Volume if its there.

Not too big on indicators.

What is "AD"?

Cheers,
 
Re: Trading the XJO with CFD's

CanOz said:
Fib, Support and Resistance lines, and occasional Stocastic.

Volume if its there.

Not too big on indicators.

What is "AD"?

Cheers,
Click to expand...

AD is just my lazy way of saying advanced tick chart!
 
Re: Trading the XJO with CFD's

Trade_It said:
AD is just my lazy way of saying advanced tick chart!
Click to expand...

I'm not game to short the XJO today, that mixed finish in the US and higher oil prices may give it some breath yet. What about you TI, UF?

Cheers,
 
Re: Trading the XJO with CFD's

CanOz said:
I'm not game to short the XJO today, that mixed finish in the US and higher oil prices may give it some breath yet. What about you TI, UF?

Cheers,
Click to expand...

As long as you have an entry, exit, & stop loss plan any market is tradable, up or down. If you feel comfortable going long then why feel uncomfortable going short?. It's just another trade. As to when to enter/exit is a different matter. I do short term shorts ie day trades, and am currently short the mini 200 today, after Monday Fund-day. Lately it's been Tuesdays & Fridays to short, the rest to go long. Increasing negative news from the US might put a dampener on the local market this week - the bounce back looks to be too high too fast.
 
Re: Trading the XJO with CFD's

UF,

I am always very interested in what you post, you make a very good point at the speed of this reversal.

When u look at it 90% of the reversal was made in couple of sessions with other days looking very unsure.

But I have been waiting for this to see what happens when it does weaken I am very interested to see if panic settles in.

But the DOW pulled back from just about 100 points down to finish 10 under so that does say some thing and that was on the back of very average news last night.

CanOz
Going short on the daily there is no evidence to support it, in my view.

But on a per tick or 1min, 2 min chart there can be lots of opportunities to go short using limit orders. But It's a fast game!

That is something I don't do very much.

Cheers
 
Re: Trading the XJO with CFD's


Got to learn to pick these reversals. I suspect the Prof would be the one here. I've got to do some study on the SPI and how to trade it. I won't trade something until i feel confident.

Cheers,
 

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Re: Trading the XJO with CFD's

CanOz said:
Got to learn to pick these reversals. I suspect the Prof would be the one here. I've got to do some study on the SPI and how to trade it. I won't trade something until i feel confident.

Cheers,
Click to expand...

Ni Hao, CanOz

As you can see on the chart lots of fun to be had as long as you're fast, unemotional and not greedy.

I will tell you, At the moment I am not able to do it either gave it a shot and lost ten times more then I made on those intra day charts I much prefer to hook into daily and weekly trends.

But some guys on here do it well.

Aussie200 has made a steady recovery as of now.

Canaussieuck where in China are you, your working or on holiday?
 
Re: Trading the XJO with CFD's

a real wall is being hit now at 6000 now time to think about differnt tatics maybe covering over dropping a position.

long way back to the trend line.

looking weak!
 

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Re: Trading the XJO with CFD's

CanOz said:
Got to learn to pick these reversals. I suspect the Prof would be the one here. I've got to do some study on the SPI and how to trade it. I won't trade something until i feel confident.

Cheers,
Click to expand...

I find 1 min chart to be too noisy - I use 5 min to see the trend better, maybe narrow in to 1 min for trade execution, then back to 5 min or even 10 min then. And set your stop when you enter the trade - take the emotion out of it.
 
Re: Trading the XJO with CFD's

Trade_It said:
a real wall is being hit now at 6000 now time to think about differnt tatics maybe covering over dropping a position.

long way back to the trend line.

looking weak!
Click to expand...


well the ressitence stuck and it fell UF and short action for you over night? I saw it rebounded very well after 4:30 that nearly tricked me into opening another but it just would not cross 6000 i was worried out and closed out, my dow contract same prob closed and did it fall.

well side lines again now
 
Re: Trading the XJO with CFD's

Hi everyone!
Just having a read of your forum and it looks like you lot are all genuinely interested in helping eachother learn and providing support for eachother - unlike some other topics on ASF I myself am interested in CFD's but I haven't opened an account yet...just reading as much as I can first and getting to know tech analysis. I was tending towards IG markets because of the low min. trade size (good for starting off) and they seemed to be well priced and offer GSL. Any thoughts?

I have always tended to use the 'buy and hold' approach and fund. analysis so I'm trying to learn more about charts. I think CFDs are a good opportunity to take advantage of short-term trends and the ability to short on margin is attractive as well. Kinda (half) working on a trading plan but I think I'm going to learn as I go along anyway. Has anyone read Catherine Davey's books?? Having got one for X-mas I've had a look at her money management strategies which are pretty easy to follow and familairised myself with support/resistance/trends. Anyway, keep up the good discussion and hopefully I'll have more to contribute soon.
 
Re: Trading the XJO with CFD's


Hi Brendan. I've just started trading CFD's with IG Markets as you probably read above. My advice would be to have a trading plan and very good understanding of postion sizing, setting stops etc.

Although you can in theory trade smaller postions, you can still lose your capital ..fast. The spreads (difference between the actual price and thier price) vary from instrument to instrument. Stocks are DMA, and GOLD is a 1 pointer, but the indices and forex can really dig into your risk profile, making the trades unworthy of the risk. This it would seem, discourages short term players.

To me, the main advantage is the ability to be able to trade in most market conditions, that is to be able to go short and long on a range of instruments. This should enable a reasonably experienced trader to pick up some profits in various economic situations. It also gives you a feel for how commodities, and currencies trade and the extreme volitilaty associated with such a variable laden instrument (currency).

Just be careful and sensible and stick with what you know at first.

This is not for the faint hearted, some of these moves are pretty quick and could wipe out your trading account in minutes, or less.

I use only the controller risk account, so i have GSL's on everything. I believe its a 'must' for someone just starting out.

If you have never traded shares or are new to that then i wouldn't recommend trading CFD's until you develop your skills and a solid trading plan. Emotional control is paramount as well.

Hope this helps, i'm sure there are more that could give you a more experienced view, TI and UF for example have more experience with this than i do.

Cheers,
 
Re: Trading the XJO with CFD's

Aussie200 is in a interesting situation in a very tight band still have a bullish overview on it till it breaks bottom support.

still having world of trouble crossing 6000 so a wait for bounce of support or a strong break above 6000
 

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Re: Trading the XJO with CFD's

Trade_It said:
Aussie200 is in a interesting situation in a very tight band still have a bullish overview on it till it breaks bottom support.

still having world of trouble crossing 6000 so a wait for bounce of support or a strong break above 6000
Click to expand...

TI, Going by your chart, it's starting to look a bit bearish, with the inability to convincingly get past 6000. Notice the long candle wicks of the last 5 days or so, and the small body of the candle. As is typical of our market, there is money wanting to get back in to the market (bullish) but the US is sowing the seeds of doubt (bearish). The announcements out in the US for the rest of this week may disapoint also, as may quarterly earnings. Short term bearish ie next 3 days. Looks like failing again today too, long wick day, may finish in the red after DOW down 72 points. Ah well, the boys gave it their best shot this morning

Market moving ann's

Tonight - Durable goods orders
Tomorrow - GDP
Friday night (start of next correction if bad?) - Consumer spending, Chicago PMI, Consumer sentiment, Construction spending
 
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