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Online Share Trading

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Ninja
Super Contributor
Sorry Morfeus.....gambling fever took over!! I trade the 15min, 5 min and 1 min charts simultaneously. 15 min set up, 5 min entry, 1 minute timing. I use the RSI, Stochastic,MACD, MACD Zero Lag and Momentum on all cherts. I trade only the 2 or 3 of the big currency pairs as discussed. My system is very similar to Simons lazy system as it is primarily a MA crossover system, supported by indicator signals at or near pivot points. So 1)MA crossover (you need to figute out your own MA timelines you will use) 2) Indicators supporting the direction of the trade and the larger trend(where possible) 3) Enter near key daily pivot points - this shows you are right or wrong early and gives you a longer run when you are correct. I also check my analysis against the free TA on IG Index to see if I have missed anything the experts may have picked up on. I trade with a maximum 15 point stop - if it goes 15 points against me I got my timing wrong. I usually bank 20 - 40 pips a trade using this set up. Hope it helps.
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Not applicable
Thanks a lot mate. I'm going to investigate this and will let you know how it goes. :)
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asylum
Super Contributor
come on guys support standard bank, why use ig index in the uk when you have standardbank fx right here who knows you might save a job here instead of creating a job in the UK. plus standard fx guarantee stops and limit orders up to 2 million$.
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Not applicable
Good point. Will check this out too
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asylum
Super Contributor
Does IG index ask for a tax clearence certificate? if not your trading illegaly and could end up with a whole lot of problems, so just be careful with wich company you trade forex with.
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sponono
Super Contributor
i've just downloaded the platform. looks like some out of space thingi with many moving parts. does it provide for trading in ZAR because I dont see it listed here. maybe liquidity is the issue.
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asylum
Super Contributor
no no zar but you dont need it there are plenty pairs to choose from the site needs a couple of days of playing about to set it out to your liking, but after that its fairly easy and you can trade directly from the charts if you want to.
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Ninja
Super Contributor
Asylum...firstly I am british citizen and fully tax compliant...my tax consultant assures me I am legal and paid up. Secondly, you must think trading is a sweet hobby or a nice past time. I don't, I see it as a business and IG is better than Standard when it comes to range of markets, platform features and cost to trade. If you want to support a charity your line of thinking adds up....I am a capitalist and the best broker gets my cash on service offered, not sentimental bullsh*t.
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asylum
Super Contributor
ninja firstly my response was not adressed to you but for morfeus, your a british citizen and your affairs are in order good for you. That does not mean that morfeus knows that if your a south african citizen it is illegal to trade forex unless you have a tax clearence cirtificate and anyone using credit cards for payment will eventually get caught, as you may or may not know is that any form of electronic gambling and that includes trading forex without the legal requirements will land you up in trouble, you dont have to believe me but this law came into effect about a month ago. And no i dont take trading as a hobby, i take it very seriously, thank you very much, i dont know what gave you that impression.Just trying to point people in the right direction. cheers.
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asylum
Super Contributor
by the way Ninja what are the costs of trading Euro/Usd on ig index would be nice to compare costs with standard fx trader.
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Not applicable
Hey guys (Ninja and Asylum) Thanks for the advice. I'm only in demo mode at the moment, still more in the research stage more than anything else. Still trying to find my feet, but thanks for the advice on the tax stuff, very important. I'll definitely have a look at that before I go live (if ever!).If i'm not successful on a demo, there's no point wasting money is there... Anyway Asylum, I will have a look at standard bank's forex site, but seen as you know it well, why not check out ig index as well, that way you can give us a comparison. Once again thanks for the advice
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Not applicable
Im not too sure if this will change the tax complications, but sharenet has opened their own cfd platform (in conjunction with igmarkets sa) and they offer forex,options,indexes,shares etc... maybe also worth a look for your demo account?? haha now you have three (maybe test out different strategies on each??)
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