The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
All brokers offer ‘Best Execution’ service, except this is disingenuous marketing by them. They can do 1 of 2 things - execute trades received at market price (typically small trades since babysitting makes no sense for baby customers - like Smith) or execute at price asked for by customer (ie limit trading). Either way, both get done with nobody on the broker side caring about the so called Best Execution service.
Largely, only IIs will have the capability to cater to customers wanting their orders monitored for best execution - and even then, certain brokers may well use their in-house market makers to ‘massage’ order related problems (typically shares with liquidity issues).
In Tlou’s case - best execution for all PI punters is simply a pipe dream.
Yet, as usual, our sage guru can commit endless hours of daily existence to an event that simply isn’t available to him. Or us. But the nice people here are too polite to simply point out the bleedin obvious.
Yawl must be English…. Ooops, I can’t say that; that makes me ****** I suppose.
Actually it doesn’t - yawl (like me) have got FA better to do than reading and responding to this basically ‘utter irrelevant garbage’…..
But hey ho, sometimes it is fun ….
What’s the point ? Simple - share price is well below 3pence and generally the investment community, bar half a dozen dopes here (including myself) give a flying fart on what St Tony and troops are trying to achieve in a remote part of the globe.
Morris - I am really disappointed in your efforts recently !! PPA and Funding have been concluded - and all you post here is links to interviews and tweets with a little headline saying ‘Bullish interview’ or …….
Mate, if they are paying you, trust me you are going to need to work a F of a lot harder than this !!! Are you getting lazy whilst we all wait here ….. Or disillusioned ??
I wondered why I could not tick Appi’s post and then realised I am logged out.
I cannot really speak for BTS but I am 100% certain it does not matter to him if the price is 0.0001p or any other value below his selling price?
He is in until then, as most of us are, even Whizzer, who will change instruments once he is in the black.
What matters here is three things!
1. That TG is allowed to see this through.
2. That we do not not have a hostile takeover which the sp would attract every one of us at 0.0001p .
3. We don’t see TG fail unexpectedly for most of us.
I don’t use passwords on the Iphone but I have here and broken the habit of a lifetime.
Too much chance of having the phone nicked.
At least my filter is active.
Brad I think MfM's post is perfect advice for L2. I used it for years when I was trading frequently and it's invaluable if you are really paying attention to the market, scalping for small margins etc, but if you , as I have, are settled on long positions it is of little use, nor worth the investment. That said if you trade around those positions, as I still do on occasions, it may warrant the outlay if those trades are significant amounts. Otherwise trust your gut, do something enjoyable during the day and don't worry about daily market movement. Also don't fret so much about engagement on here - there is little benefit following that course.
Bless you for taking the time to respond MFM.
I see you picked up their "best execution" term/promise rather than "best offer", my memory of it. You realised it is tantamount to the same for our purposes here. So thanks for that.
I like consistency, and that is what I find at TG's doorstep.
Yesterday I referred to 2.5p after someone else posted.
The price , yet again, was not 2.5p ( 2.55p!)
When challenged last time, he pointed to the value of last trade!
So here is the last trade as reported by LSE here
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
06-Dec-21 15:09:38 2.64 373 Sell* 2.50 2.60 9.85 O
Does he quote 2.64p? DHF! Consistent? Yes - a con man!
Thanks for your response too Swan, good to see you stick your neck out :O) , the message I am getting is that it is worth my while to contact IG and get it from the horse's mouth.
If they do not approve I'll lose nothing, and if the commission rate for DMA is a minimum of $30 (which I saw somewhere) then I am definitely better off sticking with L1 only.
Saxo's L1 commission is less than $10 , rising to something like $57 for DMA/L2 , a bit crazy.
I have well over a million shares in the bank , so apart from the forthcoming options or other placings , I am content to simply keep my IG head above their Custodial charges with 3 x £3 freuent trader trades on £90+ , the minimum transaction value. Luckily my main broker, X-O, do not charge custodial charges! But they do not allow foreign stocks e.g. TOU:ASX to be held, hence the IG account.
The sun has come out 5 hours late, it is Poppy time if I can find my boots!
The wind has dropped too! "We're from Bournemouth! Sunny , sunny, Bournemouth!" is back.
Thanks guys.
Brad, IG L2 given you full access to the RSP which is the MM order book. Definitely worth getting and saves a fortunate in trade charges as you can get a better view fro what the market is doing.
It sounds like you'll lose 'best offer' completely if you subscribe for L2 regardless of whether you actually use DMA to trade but worth checking with them I guess. Remember though that the idea of L2 is to get the best price in the first place. In effect you're creating your own market where you can place buy orders below the current best bids and sell orders above the best offers. So if you're diligent enough you should be able to always get your own 'best price' possibly better than that which IG could have got you, after all they probably keep a little bit of the spread for themselves.
Is it worth it for just a few trades per month, probably not but I don't know what size you're trading so you'd have to work that out as you go. L2 is really for day traders because of the frequency of their trading. If you can trade everyday inside the spread plus work out when a stock is about to make a move and in which direction it is obviously a very useful tool. My guess is (given the size of trades you've talked about in the past) that it's probably not worthwhile for you but then you do love your asx price action so maybe there's an entertainment value to be considered as well? Might be worth asking IG for a free trial? No harm in asking.
I think this puts the mockers on L2 for me.
"L2 DEALER MAY INVOLVE SOME CHARGES
Before you begin trading via L2 Dealer, you should fully understand the costs
involved. Depending on the exchange on which you wish to trade, you may be
liable to pay some data usage fees. Contact us for more information on these costs
plus commission and funding charges."
I am using the L2 dealer app (without L2 access until I subscribe) which includes the L2 button!
I was going to extract everything I could for TLOU so I can revisit the positions prior to a known historical event e.g. when the spread moved from 5.2c and 5.3c the other day.
I could rattle up a lot of hits with a new app - and it would be just my luck to be charged for every hit!
DYOR on this board is taken to extremes it seems.
The lack of help is astonishing and we have the sp we deserve.
This page encourages me to ring IG , it includes my planned use of L2 as well as discouragement for not being a professional trader.
https://www.ig.com/uk/trading-platforms/l2-dealer
IG supply L2 , if I understand it for £7+ per month less commission paid on trades.
A regular commission is £8 , frequent trader 3 x £3 , so effectively free (I can't find it again).
What I can find is , IG say their Best Offer deal does not apply if you subscribe to L2.
My question!
Does this only apply to DMA under L2 trades , which is totally understable , or is it likely to apply to L1 trading as well, please?
I am reticent to phone them because I only want L2 to guide my timing when I trade.
I'm not sure if they would frown upon that? They stipulate that you should be an expert to use L2!