# How did you trade the SPI today?



## jersey10 (19 December 2008)

As a beginner trying to learn about day trading the SPI,  I was watching the 1 minute spi chart from about 1:30 to 3pm today just watching how it behaves.  It took off on an uptrend at about 2pm after a head and shoulders pattern developed between 12:30 and 1:45pm.  Did anyone trade it today? and would you be willing to give some insights as to how you traded it between 12 and 3pm? 
Another thing i have been wondering is when is the best time to trade the spi and why?


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## MRC & Co (19 December 2008)

I wouldn't even watch it at the moment, it's completely dead.

I traded it, but only took 11 ticks out of it.  Pathetic.

Usually, best time is anytime except for around 12-3pm.  But of course, some days, it never stops and others it dies earlier and never comes back to life except after 4pm.  Today, it was pretty much dead from the beginning.  Would hate to see it the next couple weeks, luckily, I won't be watching it for one second in those times!    Time for a nice, relaxing and festivity packed holiday!

Maybe start watching it again around mid-Jan, should be getting a bit busier again by then I would think.


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## jersey10 (19 December 2008)

MRC & Co said:


> I wouldn't even watch it at the moment, it's completely dead.
> 
> I traded it, but only took 11 ticks out of it.  Pathetic.
> 
> ...




no good between 12 and 3? is that because all the traders are out to lunch?  Do you deem the best times to trade the SPI as outside 12 & 3 because you often get quicker and longer trends outside that time?

11 ticks.  So for one contract that means $25 per tick?


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## MRC & Co (19 December 2008)

Yeh, so $275 in total. 

Yeh, during lunchtime, volume dries up.  Makes it hard for me to read the flow.  Some lunchtimes lately though (before Dec), got very busy and were perhaps the best time to trade. 

Though, sometimes at lunch, you get wider spreads and little movement, so you can take flicks, placing limit orders on one side infront of a big of size and another limit order on the other side once filled on the first.  I only do this with 1 lot and sometimes 2, you will see me in there during lunch sometimes.  You will see a flick and then an order appear on the other side.  Just taking flicks off the retailers who don't use the price ladder.

Other times, lunch can trend with few counter ticks, but very very slowly and painfully.  In these times, your probably best giving it a bit of room to move and trying to run it.

At pre-open and close, you get momentum moves and have to trade very carefully.

All other times of the day, it's a mix of the lot.  But it has a bit more normally push and pull action, so it behaves a bit more 'normal' and you feel a bit more comfortable reading the general 'flow'.  At least that is my take.


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## jersey10 (19 December 2008)

MRC & Co said:


> Yeh, so $275 in total.
> 
> Yeh, during lunchtime, volume dries up.  Makes it hard for me to read the flow.  Some lunchtimes lately though (before Dec), got very busy and were perhaps the best time to trade.
> 
> ...




Great insights.

Cheers MRC.


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## MRC & Co (19 December 2008)

jersey10 said:


> Great insights.
> 
> Cheers MRC.




No problemo Jersey.

Good luck with it.


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