ESArtículos (6)
Cómo usar el índice de vigor relativo en el trading
<p dir="ltr">El<strong> índice de vigor relativo (RVI) </strong>índice de vigor relativo (RVI) <strong>fuerza</strong> detrás de los movimientos de precios. En resumen, el indicador RVI intenta evaluar cuándo el mercado podría revertirse de la tendencia actual alcista o bajista.</p> <p> </p> <p dir="ltr">En este artículo, analizaremos las características clave del indicador de vigor relativo, cómo se calcula, así como sus fortalezas y debilidades. Por último, compartiremos consejos sobre cómo diseñar una estrategia de trading sencilla basada en el indicador RVI.</p> <h2>La fórmula del RVI </h2> <p dir="ltr">El indicador RVI se basa en la idea de que la acción del precio tiende a cerrar más alto en comparación con los precios de apertura en una tendencia alcista, y a tener precios de cierre más bajos que los de apertura en una tendencia bajista.</p> <p> </p> <p dir="ltr">La fórmula para medir el RVI es la siguiente:</p> <p dir="ltr"><strong>NUMERADOR </strong>= a + (2 × b) + (2 × c) + d</p> <p dir="ltr"> 6</p> <p> </p> <p dir="ltr"><strong>DENOMINADOR </strong>= e + (2 × f) + (2 × g) + h</p> <p dir="ltr"> 6</p> <p dir="ltr"><strong>RVI</strong> = Media móvil simple (SMA) del NUMERADOR para N períodos</p> <p dir="ltr"> SMA del DENOMINADOR para N períodos</p> <p> </p> <p dir="ltr"><strong>Línea de señal</strong> = RVI + (2 × i) + (2 × j) + k</p> <p dir="ltr"> 6</p> <p dir="ltr">Donde:</p> <ul> <li>a = Cierre − Apertura</li> <li>b = Cierre − Apertura del período anterior a a</li> <li>c = Cierre − Apertura del período anterior a b</li> <li>d = Cierre − Apertura del período anterior a c</li> <li>e = Máximo − Mínimo del período a</li> <li>f = Máximo − Mínimo del período b</li> <li>g = Máximo − Mínimo del período c</li> <li>h = Máximo − Mínimo del período d</li> <li>i = Valor del RVI del período anterior</li> <li>j = Valor del RVI anterior a i</li> <li>k = Valor del RVI anterior a j</li> <li>N = Minutos/Horas/Días/Semanas/Meses</li> </ul> <p> </p> <p dir="ltr">Como se puede observar, el RVI también incluye una línea de señal que interactúa con el indicador. Basándonos en los cruces y las divergencias entre ambos, se obtienen las señales de trading.</p> <p dir="ltr">Muchas plataformas de trading, como <a data-di-id="di-id-6e0d35b7-1d3b3793" href="/es/metatrader5">MetaTrader 5</a>, tienen un indicador RVI incorporado. Solo hay que seleccionarlo desde el menú desplegable, y aparecerá automáticamente en tu gráfico. La configuración predeterminada está basada en 10 períodos, además de un color verde para el oscilador RVI y rojo para la línea de señal.<br /> <br /> <img alt="" src="/TMXWebsite/media/TMXWebsite/Image-1-Vigor-index.jpg" /><br /> <br /> El indicador RVI fluctúa alrededor de una línea central, moviéndose de arriba hacia abajo del nivel cero y viceversa. Como se muestra en la imagen, los valores aumentan cuando el precio opera en un entorno alcista y disminuyen en un mercado bajista. Este indicador es clasificado como un oscilador centrado, ya que oscila alrededor de una línea central en lugar de una banda.<br /> <br /> <img alt="" src="/TMXWebsite/media/TMXWebsite/Image-2-Vigor-Index.jpg" /><br /> <br /> </p> <h2>Fortalezas y debilidades del RVI</h2> El RVI compara el precio de cierre del activo con un rango de precios reciente y genera valores que reflejan la fuerza detrás de los movimientos de precios. Cuanto más altos sean los valores generados, más fuerte debería ser la tendencia. Por otro lado, valores más bajos del RVI indican un mercado tranquilo y lateralizado. <p dir="ltr"> </p> <p>El RVI a menudo alcanza niveles extremos tanto al alza como a la baja. Similar al <a data-di-id="di-id-e48f415c-dc5b1189" href="/en/trading-academy/forex/analysis/rsi-indicator">Índice de Fuerza Relativa (RSI)</a>, en estas situaciones el RVI señala que un cambio en la dirección de la tendencia es probable, lo que constituye su mayor fortaleza.</p> <p dir="ltr"> </p> <p dir="ltr">Sin embargo, la principal debilidad del RVI es que resulta prácticamente inútil en mercados en rango, cuando la acción del precio no se mueve claramente en una tendencia alcista o bajista. Por esta razón, los inversores suelen consultar el RVI cuando la acción del precio se mantiene en una tendencia por un período prolongado, intentando predecir cuándo terminará la tendencia actual.<br /> <br /> <br /> </p> <h2>Cruces y divergencias</h2> <p dir="ltr">Como se mencionó anteriormente, el indicador RVI interactúa con la línea de señal, generando distintos tipos de señales. Por ejemplo, se genera una señal de trading cuando el RVI cruza por encima de la línea de señal. Esta situación se denomina cruce alcista e indica que la acción del precio probablemente empiece a subir. El cruce bajista es lo opuesto al alcista, es decir, el RVI cruza por debajo de la línea de señal.</p> <p> </p> <p dir="ltr">Por otro lado, la interacción entre el RVI y la acción del precio puede producir <a data-di-id="di-id-201c69d3-252d29a6" href="/en/trading-academy/forex/analysis/bullish-bearish-divergence">divergencias alcistas y bajistas</a>. La primera ocurre cuando el RVI crea un mínimo o máximo más alto, mientras que la acción del precio alcanza un nuevo mínimo. Esto señala que la acción del precio probablemente comience a seguir al RVI al alza.</p> <p> </p> <p dir="ltr">La segunda ocurre en el escenario opuesto: la acción del precio continúa en una tendencia alcista, pero el RVI ya ha empezado a disminuir, lo que sugiere que el precio del activo comenzará a seguir al RVI a la baja.</p> <h2>Cómo operar con el RVI</h2> <p>Existen muchas<strong> estrategias de trading basadas en el indicador RVI</strong>, al igual que con el RSI y otros osciladores. La gran mayoría giran en torno a los cruces o las divergencias.<br /> <br /> Aquí compartimos una estrategia simple que combina estos dos escenarios: un cruce y una divergencia. De esta forma, obtenemos dos señales que apuntan hacia el mismo desarrollo futuro: una reversión.<br /> <br /> En el gráfico a continuación, puedes ver que el USD/CAD está bajando, situándose por debajo del mínimo más reciente. El RVI lo sigue y crea un mínimo de corto plazo, operando muy cerca de sus niveles mínimos. Recuerda que el RVI solo debe consultarse en mercados con tendencia.<br /> <br /> <img alt="" src="/TMXWebsite/media/TMXWebsite/Image-3-Vigor-index_1.jpg" /><br /> <br /> </p> <p>El RVI genera dos señales alcistas. Primero, se produce el cruce, ya que el indicador RVI (línea verde) cruza por encima de la línea de señal (línea roja), indicando que la tendencia probablemente cambiará de bajista a alcista.<br /> <br /> En segundo lugar, la acción del precio crea una serie de mínimos consecutivos más bajos, situación no confirmada por el RVI, que empieza a subir tras el cruce. Como mencionamos anteriormente, esta situación se denomina divergencia alcista y señala que la acción del precio puede comenzar a seguir al RVI al alza.<br /> <br /> En este punto, las dos señales alcistas nos convencen de abrir una operación buscando una reversión. Abrimos una posición larga para capitalizar el inminente cambio de tendencia, ya que los vendedores parecen haberse agotado.</p> <p> </p> <p>La entrada debe colocarse cuando tanto el cruce como la divergencia emiten señales alcistas. El stop loss (orden de detención de pérdidas) se establece unos 40 pips por debajo para permitir que la acción del precio pueda crear otro mínimo a corto plazo.<br /> <br /> El take profit (orden de toma de ganancias) se determina buscando un "nivel imán", un punto de precio importante que haya tenido relevancia en el pasado, como un <a data-di-id="di-id-9ff3eeec-f5d0272a" href="/en/trading-academy/forex/analysis/fibonacci-ratios">retroceso/extensión de Fibonacci</a>, media móvil, línea de tendencia, etc. En este caso, utilizamos el mínimo anterior, que ahora probablemente actúe como resistencia.</p> <p> </p> <p>Finalmente, <strong>la acción del precio genera una reversión abrupta</strong>, subiendo rápidamente y alcanzando nuestra orden de take profit en solo dos días. En esta operación, arriesgamos 40 pips para ganar aproximadamente 80 pips, lo que se traduce en una relación riesgo-recompensa de 1:2.</p>
What is a stock market index?
<p>The stock market we know today is nothing like it used to be when the concept was born. Hundreds of years ago, the stock market started as a small institution created by agricultural traders and banks of Europe to manage and regulate commodity trading. Fast forward to the 21st century, it has transformed into a comprehensive global network of stock exchanges.<br /> <br /> The modern stock market, also called the share or equity market, offers various financial instruments (securities) on dozens of exchanges worldwide – stocks, shares, bonds, mutual funds and others.<br /> <br /> When a number of such securities are put together, it's called a stock index. In this article, we'll take a closer look at stock market indices, explain how they work and the benefits of index trading</p> <h2>What is a stock market index?</h2> <p>A stock index is a basket of various financial instruments. However, most indices that are available for public trading typically include only companies' shares. These companies have to be publicly listed on a stock exchange, meaning their shares can be bought, sold and owned by the public.<br /> <br /> There are different ways of organising these companies into stock indices – they can be grouped by financial market, country, industry or another differentiator. This allows analysts to track and measure the performance of the category they belong to and calculate market performance. For example, if an index value of the US major companies is going up in value, it usually means that the country's economy is expanding.</p> <h2>What is an index ticker?</h2> <p>An index ticker, also called a symbol or code, is a combination of letters and numbers used for the index's easy identification and tracking. Just like each currency has a code in the forex market – EUR for the euro, USD for the US dollar and so on, indices also have their own code. For example, S&P 500 stands for The Standard and Poor's 500 index. The term ticker is not exclusive to stock indices and used in other markets, such as stocks, futures and ETFs, too.<br /> <br /> Keep in mind that brokers usually use different tickers to distinguish instruments used to trade indices. For example, with ThinkMarkets, you can trade indices with CFDs, so to differentiate the actual S&P 500 index from a CFD contract on it, the latter has the SPX 500 ticker.<br /> <br /> <img alt="TM-Screen-What-is-a-stock-index-1.png" src="/getmedia/a5189b4f-bfff-48cf-b265-c184ed7acada/TM-Screen-What-is-a-stock-index-1.png" style="display: flex; margin: 20px auto;" title="TM-Screen-What-is-a-stock-index-1.png" /></p> <h2>What are the most popular indices in the stock market?</h2> <p>The popularity of a stock index depends on where the companies within it originate. For example, with the US being the largest economy in the world, American stock indices make up over 50% of the value of the global stock market. It is no surprise that these indices are the most popular and the most traded in the world, with S&P 500, Nasdaq 100 and Dow Jones usually leading this list.<br /> <br /> <img alt="01-map-1.png" src="/getmedia/3f976ffd-1a3e-4015-98e0-a1c5a6f1d6ea/01-map-1.png" style="display: flex; margin: 20px auto;" title="01-map-1.png" /></p> <h3>S&P 500 (SPX 500)</h3> <p>The S&P 500 is a stock market index that tracks the performance of the 500 largest companies in the US. It is considered the benchmark of the American economy because the aggregated value of the companies within it represents over two-thirds of the US stock market’s value.</p> <h3>Dow Jones Industrial Average (US 30)</h3> <p>The Dow Jones Industrial Average index is very similar to the S&P 500 but tracks only the 30 largest companies. Due to their similarity, these two stock indices are highly correlated and tend to move in the same direction.</p> <h3>Nasdaq 100 (NAS 100)</h3> <p>The Nasdaq 100 index consists of the 100 largest non-financial companies' stocks. The companies that make up this stock index represent various industries, but due to the dominance of major technology sector players, NAS 100 is tech-heavy.<br /> <br /> Other popular indices usually track the performance of large economies, such as the total market index of the UK – FTSE 100 (UK 100), Japan – Nikkei 225 (JPN 225), Germany – DAX 40 (GER 40), and others.</p> <h2>Why is index trading popular?</h2> <p>Index trading attracts a fair share of retail traders looking for personal gain. Here is why it's so appealing to them:</p> <h3>Diversification</h3> <p>Due to their nature, indices provide traders with greater exposure than any other financial market, limiting risk at the same time, as they are less likely to be affected by a sharp move from a single stock.</p> <h3>Comfortable volatility levels and consistent trends</h3> <p>Broad diversification results in more consistent trends and much milder volatility that rarely sees enormous price jumps, which can be very appealing for risk-averse traders.</p> <h3>Reliability</h3> <p>The stock market is well established. It's been around for a couple of centuries and has had enough time to set clear rules and regulations. Stock exchanges around the world are managed by reputable and trustworthy institutions that would crack down on fraud or price manipulation.</p> <h2>How are indices made?</h2> <p>The list of companies that make up a specific stock index is not permanent. Every index has a set of criteria a company needs to meet to be included in a certain stock index. The requirements may vary from index to index, but market capitalisation and liquidity thresholds are usually among the most common ones. As market conditions change and economies evolve, some companies may fall out of an index while others may become a better fit for it.<br /> <br /> The eligibility requirements also depend on the index's type. For example, indices that are weighted by company value may have very different prerequisites compared to indices weighted by stock prices. In our next article, <a href="/en/trading-academy/indices/stock-market-indices">Stock market indices: all the types you need to know</a>, we explore different types of indices and explain how they can be calculated.<br /> </p>
Stock market indices: all the types you need to know
<p>Traders just getting into stock market indices may notice a lot of different terms used to define them, such as small cap, equal weighted, growth index and many others. All these names are used to define what types of stocks make up an index to facilitate market analysis for traders.<br /> <br /> In this article, we’ll help you outline the main types of indices and their differences.<br /> <br /> Let's start with one of the most common ways to categorise indices – by the weight of stocks within them.<br /> <br /> <img alt="" src="/getmedia/6ade89c8-1b01-4102-8d86-e205dff6a416/article-indeces-types-all.webp" style="width: 552px; height: 269px;" /></p> <h2>Weighted indices</h2> <p>There are three types of indices by weight:</p> <h3>Market capitalisation-weighted indices</h3> <p>A company's market capitalisation means its value on a market. It can be calculated by multiplying the total number of outstanding shares (all the shares it has ever issued) by the share price.<br /> <br /> For example, if company A has 100,000 shares priced at USD 20, its market cap is:<br /> </p> <p style="text-align: center;"><strong>100,000 X 20 = USD 2,000,000</strong><br /> </p> <p>If an index is weighted by market cap, it means that the companies with a higher market capitalisation or value are given more weight. Simply put, higher valued companies have more importance in a market cap-weighted index. For example, if the index value is USD 500 million, a company worth USD 100 million will make up 20% of the index value. Price movements of this company have more effect on the index than a company with a USD 10 million market cap.<br /> <br /> <img alt="" src="/getmedia/05c99dd9-460d-494a-94d5-9806c49b8c66/article-indeces-types-market-cap-weight.webp" style="width: 552px; height: 336px;" /><br /> <br /> Market cap indices are the most common because they provide a clear and accurate way of evaluating stocks within an index. It also makes the performance analysis of an index much easier, as it is based on stocks’ true value. Almost all the top-traded indices we discussed in our previous <a href="/en/trading-academy/stocks/what-are-stocks">What is a stock index</a> article are weighted by their market cap – S&P 500 (SPX 500), Nasdaq 100 (NAS 100), FTSE 100 (UK 100), DAX 40 (GER 40) and Nikkei 225 (JPN 225).<br /> <br /> However, most of these indices list stocks by free-float market capitalisation. It means that the company’s market cap is calculated by taking into consideration only the publicly held shares, ignoring the privately owned ones.</p> <h3>Price-weighted indices</h3> <p>The companies within price-weighted indices are given weight according to their current share price. The most expensive shares will have more importance compared to the lower-priced ones. For example, a company with a share price of USD 1,000 will have a much stronger effect on the index performance when its price fluctuates compared to a company with USD 100 shares.<br /> <br /> The Dow Jones (US 30) index is one of the most popular examples of a price-weighted index.<br /> <br /> <img alt="" src="/getmedia/b34fc161-34a4-4156-b9a1-74397245b666/article-indeces-types-price-weight.webp" style="width: 552px; height: 336px;" /><br /> <br /> Price-weighted indices are less common than market cap ones because stock prices are not always an accurate indication of their true value.</p> <h3>Equal-weighted indices</h3> <p>This way of calculating indices is the most intuitive – each company carries equal weight, value and importance, regardless of the company's size. Simply put, in an index made up of 100 companies, each company represents only 1% of the overall index's price.<br /> <br /> <img alt="" src="/getmedia/8d4a5809-05db-4b49-b5fa-af0c38918e1a/article-indeces-types-equal-weight.webp" style="width: 552px; height: 336px;" /><br /> <br /> Equal-weighted indices are quite popular among traders because they don't depend on the largest stocks as much as the market cap indices, which reduces the risk for traders.<br /> <br /> Keep in mind that some indices can have several variations. For example, the S&P 500 is commonly used as a market capitalisation-weighted index, but there is also a lesser known, equally weighted version. This equal-weighted S&P 500 is tracked under a different ticker and has the same list of companies, but they are given a fixed weight.</p> <h2>Market capitalisation indices</h2> <p>The market-cap indices can be further divided into three smaller groups:<br /> </p> <ul> <li>Large cap indices – over USD 10 billion</li> <li>Mid cap indices – USD 2 – 10 billion</li> <li>Small cap indices – USD 300 million – 2 billion</li> </ul> <p> </p> <p>This method of index classification is also very popular among traders as it gives an immediate indication of the index’s nature. You’ll often see it in the name of the index right away, for example, Russel Mid Cap 2000 index (US 2000). If you don’t see any indication, it implies that the index is a large cap, like all the most popular indices we’ve mentioned above.</p> <h2>Indices by geographical affiliation</h2> <p>On a wider scale, indices are usually divided by the geographical location of the companies included in them.<br /> </p> <ul> <li>Global (worldwide) indices track stocks from all over the world. For example, the MSCI world index consists of stocks from 23 countries.</li> <li>Regional indices consist of stocks of a particular region. The Euro Stoxx 50 index (ESTX 50), composed of 50 blue-chip companies from 11 countries of the Eurozone, is one good example of a regional index.</li> </ul> <p>It's worth mentioning that there are indices that are somewhat similar to regional, but they combine stocks from various locations based on the economic advancement of their country of origin – developed or emerging.<br /> </p> <ul> <li>National indices are made up of stocks of the same country. These indices are the most popular and heavily traded because their performance is correlated with their respective country’s economic growth, making it easier to evaluate and identify trading opportunities. That’s where the top-traded indices from our list belong, among many others.</li> </ul> <br /> <br /> National indices, along with the sectoral ones, are often used as a benchmark – a standard to measure the performance of other indices against, as they usually include the best-performing stocks of their category. <p> </p> <h2>Sectoral indices</h2> <p>This classification is popular among traders because companies that belong to the same economic sector are usually influenced by the same factors and perform similarly, making the analysis easier.<br /> <br /> According to the Global Industry Classification Standard, there are 11 official stock market sectors:<br /> </p> <ul> <li>Financials</li> <li>Healthcare</li> <li>Energy</li> <li>Materials</li> <li>Utilities</li> <li>Industrials</li> <li>Real estate</li> <li>Consumer discretionary</li> <li>Consumer staples</li> <li>Information technology</li> <li>Communication services</li> </ul> <p> </p> <h2>Indices by stock types</h2> <ul> <li>Value indices are made of stocks that tend to preserve value, combined with slow but steady growth, resulting in very low volatility. Due to reduced trading opportunities, these indices are rarely of any interest among day traders. However, they are often appreciated by long-term investors.</li> </ul> <ul> <li>Growth indices consist of companies with above average sales growth and may experience periods of high volatility. The most traded stocks usually belong to this category.</li> </ul> <h2>Islamic indices</h2> <p>Besides the outlined common types of indices, analysts often segregate Islamic indices into a separate category. These indices can be further categorised following the same logic as other indices, but they only include stocks of the companies that comply with Sharia law. However, due to some limitations and controversies, these indices are more popular among long-term investors than active traders.<br /> <br /> It's important to check some basic information about an index before you start trading it, as it can help you evaluate future price movements and identify trading opportunities. In market cap and price-weighted indices, for example, you'll need to pay closer attention to factors affecting the largest and most expensive stocks as they affect the overall price of the index. On the other hand, equal-weighted indices are more sensitive to factors affecting their overall performance. National indices will heavily depend on the economy of the country they belong to, sectoral on a sector and so on. Now let's see <a href="/en/trading-academy/indices/what-affects-stock-index-prices">what can affect stock market indices' price movements.</a></p>
How to trade indices
<p>Unlike many other financial markets, stock indices don't provide an option for their physical exchange. It is simply not feasible as indices are made of dozens and hundreds of stocks. It also means that direct investment in indices is not possible – you can't buy them like shares. However, there are various financial instruments that mirror the performance of indices and can be traded and invested in. One good example of such financial instruments is derivatives.<br /> <br /> With ThinkMarkets, you can trade stock market indices with derivatives called contracts for difference – CFDs. There are two types of CFDs – contracts on the current price and contracts on index futures. It may seem a little complicated, but all you need to do in both cases is speculate on price movements. In the first case, it’s the movement of a current price and in the second, the movement of a future price. If your prediction is correct – your trade is successful, and if the price moves in the opposite direction of your prediction, your trade incurs a loss.<br /> <br /> If you are new to derivative trading, check out our <a href="/en/trading-academy/cfds/what-are-cfds">CFD trading: a beginner’s guide</a> where we explain what derivatives are and how CFD trading works in detail.<br /> <br /> Keep in mind that brokers usually use different tickers to distinguish instruments. For example, on ThinkMarkets’ trading platforms, S&P 500 is marked as SPX 500 for CFD trades on the current price and ESH3 for CFD trades on the futures contracts.</p> <h2>How to trade indices with CFDs</h2> <h3>Going long</h3> <p>Assume you were to place a trade on the SPX 500 index. The current price is USD 4,000.00, and you think it will go up. You open a long CFD position (buy), and the price goes up to USD 4,010.00. The USD 10 is your profit. If the price goes down to USD 3,990.00 instead, USD 10 is your loss.<br /> <br /> <img alt="" src="/getmedia/d4e439ef-1d47-4500-9a69-cd9515fb48bc/article-how-to-trade-indices-long.webp" style="width: 552px; height: 434px;" /></p> <h3>Going short</h3> <p>In the opposite scenario, your prediction says the price will go down, and you place a short CFD trade (sell). If the price goes down to USD 3,990.00, as you predicted, USD 10 is your profit. If it goes up to USD 4,010.00 instead, USD 10 becomes your loss.<br /> <br /> <img alt="" src="/getmedia/8eac9b34-5ae0-4486-853d-01343c1207ea/article-how-to-trade-indices-short.webp" style="width: 552px; height: 442px;" /><br /> As you can see, it’s pretty straightforward. Now, let’s see the difference between trading CFDs on the current prices of indices and CFDs on index futures.<br /> <br /> When you trade CFDs on the current price of a stock market index, it means your contract follows its real-time price, and you speculate on the current price as well. On the other hand, a CFD on the index futures contract means speculating on the index's price at a certain date in the future.<br /> <br /> In both cases, trading indices with CFDs gives you extended trading hours, unlike some other types of trading. There is a simple explanation: while stocks are listed on the exchanges with fixed and limited opening hours, CFDs are not listed anywhere. As they only track the index's price, it remains set at its closing price while the exchanges are closed, making it available for trading. Once the exchanges are open again, the price is adjusted. You can find more info on the trading hours on the contract specifications page.<br /> <br /> Whichever way of trading you choose, there are a few more terms you need to know to understand your index CFD trade better.</p> <h3>Points and ticks</h3> <p>The price movements in index trading are measured in points and ticks. A point refers to the smallest price movement on the left side of the decimal point. A tick, on the other hand, refers to the smallest price movement on the right side of it. The value of one point equals USD 1, and one tick is USD 0.01.<br /> <br /> This terminology is not exclusive to stock indices and applies to all financial markets except forex, which measures price movements in pips. However, the values of a point and a tick vary depending on the market.<br /> <br /> <img alt="" src="/getmedia/c850f30e-f907-4925-89f3-2c8a218d3ff7/article-how-to-trade-indices-ticks.webp" style="width: 268px; height: 160px;" /></p> <h3>Spread</h3> <p>A spread in index trading, just like in any other financial market, means the difference between the buy (bid) and sell (ask) price. For example, on the image below, you can see that a spread of SPX 500 is 0.4 or 40 cents. Essentially a spread is the cost of any trade. That’s exactly why any new trade a trader opens starts at a loss – the spread amount gets deducted automatically and needs to be covered first before making a profit if the trade is successful.<br /> <br /> <img alt="" src="/getmedia/1c0a768a-b4a9-4fe0-9008-3e83bc9292d7/article-how-to-trade-indices-spread.webp" style="width: 552px; height: 152px;" /><br /> Keep in mind that the placement of a decimal point is different in index trading and trading stocks. The same 40 cents spread in stock trading would be marked as 40.0.</p> <h3>Lots</h3> <p>A lot in trading represents a trade size, or in other words, the number of units of a financial instrument. This number is different for every financial market. In the stock market, one lot contains ten contracts or ten CFDs in our case. When you trade indices, there are usually minimum trade size requirements set by the broker. With ThinkMarkets, some indices can be traded only in full lots and some in mini lots – 0.1 of a full lot (1 CFD). You can find these details on the contract specifications page as well.<br /> <br /> <img alt="" src="/getmedia/3c1474ed-b4ef-404b-a3a0-96cb488a79c9/article-how-to-trade-indices-lots.webp" style="width: 480px; height: 368px;" /></p> <h3>Leverage and margin</h3> <p>Trading indices with CFDs implies using leverage. It means traders borrow funds from a broker to open positions exceeding their account balance. To allow the utilisation of their funds, brokers require a deposit, called a margin. We explain both concepts in detail in the <a href="/en/trading-academy/cfds/what-are-cfds">CFD trading: a beginner’s guide</a>, too.<br /> <br /> When you trade with leverage, you don't need to pay the full price to place a position, only the deposit (margin). The amount of the deposit depends on how big your leverage is – bigger leverage means a smaller deposit, and vice versa. The level of leverage varies depending on the market and instrument and is usually set by a broker for each specific stock market index.<br /> <br /> Let's see how leverage works in index trading on the same example, where we placed a CFD trade at USD 4,000.00. If you open this trade with 200:1 leverage, you only need to pay 1/200th of the full amount, or USD 20.<br /> <br /> <img alt="" src="/getmedia/098e2e5b-7756-417c-bed7-29873b1b1c8c/article-how-to-trade-indices-leverage.webp" style="width: 459px; height: 308px;" /><br /> <br /> That's the main benefit of trading indices with leverage – you can open a much bigger position with a smaller deposit. Your potential profit is also multiplied. However, if you incur a loss, it does get multiplied too. That's why it's crucial to use <a href="/en/trading-academy/cfds/risk-management-tools-in-cfd-trading">risk management tools</a> like stop loss and take profit.<br /> <br /> Understanding this basic information is crucial to a successful index trading journey. Once you are confident with fundamentals, you can move on to creating a sophisticated trading strategy. However, it is highly advisable to practise on a demo account first before trading with real money.</p>
What affects a stock index price?
<p>Understanding what moves the stock index prices is crucial for a successful trading strategy. Knowing the bigger picture can help you make an informed decision and identify the right time to place a buy or sell order instead of trying to predict price movements sporadically.<br /> <br /> It is true that the past performance of any financial instruments, indices included, doesn't always serve as a good indication of their future movements. It's important to look at other factors that drive stock index prices up or down to identify trading opportunities.<br /> <br /> These factors can be divided into two groups: those that influence individual stock prices within an index and those that drive an index as a whole.</p> <h2>Factors influencing individual stocks within an index</h2> <p><img alt="" src="/getmedia/6e2a8dba-8d06-44c2-bb37-e28461ba1b05/article-what-affects-stock-index-prices-individual.webp" style="width: 552px; height: 283px;" /><br /> <br /> The first group is particularly important for indices <a href="/en/trading-academy/indices/stock-market-indices">weighted by market cap or stock price</a>, as their price can be significantly affected by the top-performing stocks.<br /> <br /> For example, tech giants like Apple, Microsoft, Amazon, Google (Alphabet) and Meta make up almost 40% of the Nasdaq 100 (NAS 100) index, each accounting for 3-11% weight of the index. If any of these companies experience significant changes in their stock price, it will affect the price of NAS 100 to a much greater extent than a company holding only 0.2% weight of the index.<br /> <br /> To evaluate the possible price fluctuations of top performance in an index, experienced traders usually identify them first and then look for the following information:</p> <h3>Company earning reports</h3> <p>Bigger than expected profits are likely to drive the stock (and index) price up, while unexpected losses can have the opposite effect. Earnings reports are usually released quarterly and published during the first month of the following quarter.</p> <h3>Announcement of dividends</h3> <p>Some traders are hunting for dividends, buying shares shortly before the dividend announcement, also called the ex-dividend date. This drives the demand up, increasing the stock price as a result. After the dividend pay-out day, they sell their shares, which causes an immediate drop in their price. As most companies pay dividends quarterly or semiannually, it is worth keeping an eye on these releases to catch index trading opportunities.</p> <h3>Management restructure</h3> <p>A CEO or any other key role replacement can have a big impact on the stock price, affecting the entire index price. The direction of the price movement usually depends on market sentiment. If traders see the successor as competent, it can increase the stock price and vice versa.</p> <h3>Positive company news</h3> <p>Announcements of a new product launch or expansion usually indicate a company’s solid growth plan, which can drive its share price up, increasing the index price consequently. However, this factor largely depends on market sentiment as well.</p> <h3>Alleged controversies</h3> <p>A company's involvement in controversial reports usually affects its reputation negatively, thereby affecting its share price and bringing the index price down. In some cases, damage can be caused not only by a company’s reputation but by the reputation of its leader as well. For example, Elon Musk, the co-founder and CEO of Tesla, brought price swings to the company’s shares with his publicity stunts more than once.</p> <h2>Factors that affect a stock index price as a whole</h2> <img alt="" src="/getmedia/3bd1a15f-eac2-4a6c-a7c3-02f2ce066815/article-what-affects-stock-index-prices-whole.webp" style="width: 552px; height: 271px;" /> <p><br /> This group of factors usually has a much stronger impact on an index price than factors affecting individual stocks. They can be divided into three sub-groups: economic data, political events and natural calamities.<br /> <br /> When analysing these factors, traders need to keep in mind the origin of the index and the companies listed within it. For example, the US data and events are the most influential for American indices, such as S&P 500, Dow Jones, and Nasdaq 100. On the other hand, for the Euro Stoxx 50 index, which includes stocks from 11 countries within the Eurozone, traders need to keep an eye on data from the countries of origin of the top-performing stocks.</p> <h3>Economic data</h3> <p>Indicators such as interest rates, inflation and Gross Domestic Product (GDP) are among the main factors affecting index prices. As many indices are grouped by industry or country, significant changes in the mentioned numbers usually hit the whole index.<br /> <br /> For example, if the inflation rate in the US increases, it will negatively impact the whole US stock market, bringing down the prices of all major indices in a ripple effect. In the opposite scenario, a strong USD usually has a positive effect on them.<br /> <br /> Increasing interest rates can have a similar effect on index prices, making business loans much more costly for companies, which, in turn, slows down their development, bringing stock prices down.<br /> <br /> On the other hand, a rising GDP signals a strengthening economy and can positively impact an index, driving its price up.<br /> <br /> Keep in mind that all economic processes are interlinked – an increasing GDP in the long term usually means increasing inflation, which means increasing interest rates to fight it and so on. Hence, economic indicators need to be analysed as an aggregate rather than on their own. An <a href="/en/economic-calendar">economic calendar </a>is a great tool that helps traders have all the worldwide data releases in one place.</p> <h3>Political events</h3> <p>Political instability within a country tends to influence the country’s stock market indices negatively. Weak government, protests, and controversial policies can cause a visible decline in index prices. Elections can bring a lot of volatility to the index price too, but this volatility is primarily caused by public sentiment, reacting to election promises given by winning candidates.<br /> <br /> Some large-scale political events have a strong negative influence not only on the countries involved but also on the global economy.<br /> <br /> At the end of June 2016, when the UK voted in favour of leaving the EU, and it became clear that Brexit was, in fact, happening, over USD 2 trillion was wiped out from the global stock market in a single day.<br /> <br /> Another example is the Russian invasion of Ukraine. The war disrupted the supply chains of many commodities that used to be supplied by both Ukraine and Russia, affecting the global stock market. Moreover, sanctions aiming to paralyse the Russian economy affected multiple economic sectors, causing an almost 10% plunge in the global stock market during the first week of the war. However, as the NATO alliance showed strong support for Ukraine, the stock market bounced back.</p> <h3>Natural factors</h3> <p>Natural disasters, such as tsunamis, floods, wildfires, and public health emergencies, like the infamous COVID-19 pandemic, can bring not only serious physical damage but economic damage as well. These events interrupt the production and distribution of goods and services, affecting global markets and bringing the prices of stock indices down. COVID alone, for example, sent the stock market into a free fall, causing the sixth-worst percentage price drop in history. However, in the long run, the pandemic has benefitted the tech industry, and tech-heavy indices have had significant growth which is reflected in their prices.<br /> <br /> Traders looking for index trading opportunities need to pay close attention to the news covering important events. However, this data can only indicate possible price movements, not a 100% accurate prediction. To create a holistic trading plan, it’s important to evaluate several factors consecutively and draw an informed conclusion.<br /> <br /> Moreover, market sentiment or public perception can often influence index prices more than anything else. Unfortunately, since it’s a subjective matter, it cannot be predicted in advance, but some traders use technical analysis to spot price movements caused by market sentiment. We’ll discuss technical analysis in one of our following articles.<br /> <br /> For now, let’s first see how you can trade indices with the information we have covered in this article. The good news is that when you trade indices with CFDs, you can capitalise on both rising and falling prices. Check out our <a href="/en/trading-academy/indices/how-to-trade-indices">How to trade indices</a> article to see how it works.</p>
¿Qué es el DAX 40 y cómo operar con él?
<p>El DAX 40, también conocido como el índice DAX, es un índice bursátil de blue chips que sigue a las empresas alemanas más grandes cotizadas en la Bolsa de Frankfurt. También es un indicador confiable de la fortaleza económica del país. Se considera el índice bursátil de referencia para la economía alemana.</p> <h2>¿Qué es el DAX 40?</h2> <p>El índice incluye las 40 mayores empresas alemanas más grandes en términos de capitalización bursátil y liquidez. DAX es la abreviatura de Deutscher Aktien Index 40 y se estableció con un valor base de 1,000 en 1988. Desde 2006, el sistema de trading Xetra calcula el precio del índice cada segundo.</p> <p>Cuando el DAX 30 se convirtió en el DAX 40, el 20 de septiembre de 2021, Deutsche Börse incluyó diez empresas más en el índice, lo que significó una cobertura ligeramente más amplia de sectores, además de otras disposiciones regulatorias.</p> <p>Las empresas añadidas al índice fueron Airbus, Zalando, Siemens Healthineers, HelloFresh, Symrise, Sartorius, Porsche Automobile Holding, Brenntag, Puma y Qiagen.</p> <p>El DAX es un índice basado en el rendimiento (total return), ya que incorpora datos sobre dividendos de las empresas, ingresos de capital y salidas de efectivo, los cuales están incluidos en el precio neto de las acciones, mientras que un índice basado únicamente en precios ignoraría estas distribuciones corporativas.</p> <p>Similares al DAX, otros índices bursátiles de blue chips son el CAC 40 en Francia, el FTSE 100 en el Reino Unido y el S&P 500 en los Estados Unidos.</p> <p>Desde su creación, a finales de 1987, el DAX ha reflejado otros índices durante eventos económicos importantes a lo largo de la historia, incluyendo la burbuja tecnológica en 2000, caídas significativas en 2003, así como otras fluctuaciones en años posteriores. El índice se desplomó en 2008 durante la crisis financiera global y nuevamente durante el brote global de Covid-19.</p> <h2>¿Cómo se calcula el índice?</h2> <p>El DAX 40 se calcula mediante la metodología de free-float, lo que significa que toma en cuenta solo las acciones disponibles libremente y no incluye aquellas que no son negociables, como las acciones propiedad de gobiernos.</p> <p>Al igual que otros índices de blue chips, el índice DAX también está ponderado por capitalización bursátil, por lo que las empresas con mayor capitalización tienen más influencia en su valor. Las empresas incluidas en el DAX pueden tener un peso máximo del 10%.</p> <p>Los precios utilizados para calcular el índice provienen de Xetra, un sistema de trading electrónico. El índice incluye las 40 mayores empresas alemanas según el volumen de órdenes y la capitalización bursátil.</p> <h2>Componentes del DAX</h2> <p>A continuación, se presentan algunos de los componentes más populares del DAX 40:</p> <ul> <li><strong>Adidas AG (ETR: ADS)</strong> reconocida empresa de diseño y ropa con sede en Herzogenaurach, Alemania.</li> <li><strong>Airbus SE (EPA: AIR) -</strong> referente internacional en el sector aeroespacial, diseña, fabrica y entrega aviones comerciales líderes en la industria.</li> <li><strong>BASF SE (ETR: BAS)</strong> uno de los mayores productores de químicos en el mundo, con 390 plantas de producción a nivel global.</li> <li><strong>Bayer AG (ETR: BAYN)</strong> empresa farmacéutica que produce algunos de los medicamentos para el alivio del dolor más populares.</li> <li><strong>BMW AG (ETR: BMW) </strong>conocido fabricante de automóviles que ha producido diversos modelos galardonados.</li> <li><strong>Deutsche Bank AG (ETR: DBK) (NYSE: DB)</strong> uno de los bancos más grandes del mundo, operando en 58 países en Europa, Asia y América.</li> <li><strong>Siemens AG (ETR: SIE) (NYSE: SI)</strong> fabricante de productos electrónicos y proveedor de servicios de ingeniería eléctrica que opera en una amplia gama de industrias.</li> <li><strong>Volkswagen AG (ETR: VOW)</strong> el mayor fabricante de automóviles por ventas mundiales en 2016 y 2017.</li> </ul> <p>Para ser incluido en el DAX 40, una empresa debe estar listada en el segmento Prime Standard de la Bolsa de Frankfurt. Las empresas que pertenecen a este segmento deben cumplir con estándares más altos de transparencia que las empresas listadas en el segmento General Standard.</p> <p>Además, la empresa debe negociarse continuamente en Xetra con un free-float de al menos el 10%. Otro requisito es tener una oficina registrada en Alemania, con la mayor parte del volumen de sus acciones negociado en Frankfurt, y estar domiciliada en uno de los países de la Unión Europea.</p> <h2>Correlaciones</h2> <p>Según Blackwell Global, el DAX 40 tiene una correlación superior al 90% con los principales índices bursátiles de Estados Unidos y una correlación inversa del 70% con el Euro. La correlación entre el DAX y sus contrapartes estadounidenses se ha desviado en ciertos periodos, por ejemplo, cuando la correlación de 50 días entre ambos se volvió negativa en 2018, indicando que las tendencias subyacentes que afectaban los activos globales cambiaron temporalmente.</p> <p>Por ejemplo, si el par de divisas EUR/USD avanza, el índice DAX usualmente se deprecia, y, por el contrario, cuando el Euro se deprecia frente al USD, el DAX sube. Este fenómeno es utilizado por los inversores para desarrollar estrategias exitosas de trading.</p> <p>Otro dato interesante es que el DAX responde bastante a las decisiones del Banco Central Europeo (BCE). Es probable que los comunicados importantes en la zona Euro afecten el índice. Esto se debe a que la estrategia de correlación ayuda a mitigar riesgos, ya que tomas decisiones basadas en información adecuada.</p> <p>La correlación entre diferentes pares de divisas e índices puede oscilar entre -1 y +1. Si los dos instrumentos avanzan en la misma dirección, eso indica una correlación positiva ideal. Por otro lado, una correlación negativa ideal significa que los pares o índices siempre avanzarán en direcciones opuestas.</p> <p>Finalmente, si el coeficiente de correlación es 0, las direcciones de los dos pares de divisas o índices son completamente independientes. Mientras comprendes el DAX, la estrategia de correlación puede ser de gran ayuda para la gestión de riesgos. Sin embargo, los inversores y analistas deben saber que la correlación solo importa en relación con la dirección del movimiento y no con la magnitud del mismo.</p> <p>Por ejemplo, si el Euro cae bruscamente, es probable que el DAX suba, pero no con la misma intensidad. Además, al desarrollar tu estrategia de correlación, ten en cuenta que las correlaciones a veces pueden desaparecer inesperadamente.</p> <h2>Rendimiento histórico</h2> <p>Como índice líder de Alemania y hogar de acciones importantes como BMW, Deutsche Bank, VW y Siemens, el DAX 40 siempre ha sido seguido de cerca por los inversores.</p> <p>El DAX 40 registró grandes ganancias siguiendo a otros índices globales durante la burbuja puntocom de 1995, cuando las acciones fueron impulsadas por las valoraciones de acciones tecnológicas estadounidenses.</p> <p>En los cinco años entre 1995 y 2000, el índice DAX ganó un 300%, alcanzando un máximo histórico de 8,000 desde aproximadamente 2,000. En los siguientes siete años, la acción del precio mostró un patrón en forma de V, cayendo a 2,220 en 2003, antes de volver a subir para igualar el máximo de 2000 en 2007.</p> <p><img alt="" src="/getmedia/e1b95476-2617-4006-9e9e-bef1975fe76e/Dax-30-image-1.jpg" /></p> <p>La crisis financiera global de 2008 facilitó otro retroceso antes de que el DAX 40 empezara a ascender nuevamente. Esto condujo a una tendencia alcista continua con tres correcciones cíclicas en 2011, 2015 y 2018.</p> <p>En 2020, el índice DAX estaba operando en máximos históricos antes de que la pandemia de Covid-19 desencadenara la caída más rápida del mercado de valores en la historia. El DAX 40 pasó de operar a 13,800 a 8,250, cayendo un 40% en solo cuatro semanas.</p> <p><img alt="" src="/getmedia/2ca87af0-98fd-4c6e-aa81-5157051539f5/Dax-30-image-2.jpg" /></p> <p>Lo que podría suceder a partir de aquí es que los compradores busquen superar el máximo histórico de febrero y eventualmente empujen el precio por encima de 14,000. En este sentido, los alcistas podrían buscar un movimiento hacia 14,500, donde se ubica la extensión de Fibonacci del 127.2% del retroceso de 2018.</p> <p>Alternativamente, un sentimiento global de riesgo más positivo podría generar un entorno de trading alcista para los índices europeos. En este caso, los alcistas intentarían llevar el DAX 30 hacia 15,300, donde se encuentra la resistencia de la extensión de Fibonacci del 127.2% del retroceso del mercado impulsado por el coronavirus.</p> <h2>Spread y apalancamiento</h2> <p>Aunque conlleva riesgos significativos, los inversores institucionales y minoristas también tienden a apostar por el DAX mediante spread betting (apuestas sobre diferenciales). Como producto derivado, el spread betting no permite tomar posesión del activo subyacente. En cambio, los inversores especulan sobre la dirección en la que se moverá el precio en el futuro.</p> <p>El apalancamiento es un elemento clave en el spread betting, ya que permite a los inversores aumentar su exposición al mercado. Por lo tanto, los inversores tienden a apalancarse en el DAX para potencialmente magnificar las ganancias, pero también las pérdidas. Por esta razón, es importante crear una estrategia sostenible de gestión de riesgos, teniendo en cuenta la cantidad de capital que se está poniendo en riesgo.</p> <h2>Resumen</h2> <ul> <li>El DAX 40, también conocido como el índice DAX, es un índice alemán de referencia que incluye las 40 mayores empresas alemanas.</li> <li>El índice DAX incluye acciones importantes de Alemania, como BMW, Deutsche Bank, VW y Siemens.</li> <li>El DAX es el equivalente alemán del índice CAC 40 de Francia, el FTSE 100 del Reino Unido y el índice S&P 500 de Estados Unidos.</li> <li>Entender la correlación entre el DAX y otros índices en detalle puede ser de gran ayuda al desarrollar una estrategia de trading.</li> </ul>