Australian (ASX) Stock Market Forum

Trading The SPI - NON-Gann Techniques

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I am only getting one level (top row only) of market depth for the SPI on IB. However, 5 levels with Oz stocks.

Have had a look around TWS but can't find how to increase MD. Can anyone help?
 
Hi sails, great to hear from you again.
You are obviously still "Trading the SPI'
Hopefully with a lot of continued success.
Presently we also only have the top line of MD on IB
No problem with any of our other providers though.
Looking around TWS also, and clicking on help didn't help.
Has anyone send them a parking ticket?
Fondest Regards
Bronte :)
 
Trembling Hand said:
Somehing wrong with it today. :rolleyes:
Click to expand...

Thanks TH - saves me spending hours trying to find it in that massive TWS manual. First time I have tried to get SPI MD since re-opening with IB.:rolleyes:

Bronte said:
Hi sails, great to hear from you again.
You are obviously still "Trading the SPI'
Hopefully with a lot of continued success.
Presently we also only have the top line of MD on IB
No problem with any of our other providers though.
Looking around TWS also, and clicking on help didn't help.
Has anyone send them a parking ticket?
Fondest Regards
Bronte :)
Click to expand...

Actually not trading the SPI again, Bronte - just considering it as I have just re-opened the IB account and the free SFE data.

I've pretty much given up on the Gann approach - although I still use some the easier techniques which are sometimes also found in other systems. I found it took so much time that the "need to be right" became an issue. I also found I couldn't get more than about 50% right with my limited Gann knowledge. I put an enormous amount of time in trying to make it work, but felt I was flogging a dead horse in terms of profitability with Gann. I would rather have a 50:50 win:loss ratio with far less analysis - it's not so disappointing when it doesn't work. It's one of the reasons I ended up learning about options as I got pretty discouraged with pure directional trading.

Obviously you and Battman have found your niche in using Gann and the SPI - and I certainly respect that. However, I think it would help your credibility here at ASF if you were willing to share a bit more detail of the methods you use instead of the small one-line posts that tend to have an air of mystery. I might be wrong - just my thoughts in seeing some of the reactions to your posts and trying to see both sides here. Have a look at some of the guys at ASF who have given a fair bit of insight into their trading methods. I'm sure they don't give everything out, but they give enough to make it worthwhile reading and possibly help another trader along in some way.

Why not post some of your Gann targets and analysis in the Gann SPI thread. I would be interested and there may be others as well if it was a bit more informative. :)
 
sails said:
I also found I couldn't get more than about 50% right with my limited Gann knowledge. I put an enormous amount of time in trying to make it work, but felt I was flogging a dead horse in terms of profitability with Gann. I would rather have a 50:50 win:loss ratio with far less analysis
Click to expand...

Bang on.

And I'm yet to be convinced anyone gets more than 50% (+/- 5-10%) with Gann or whatever anyway. But that's an argument for another thread.
 
Apologies for going off topic a bit in the last post :eek: - please carry on with trading the SPI. Looks pretty choppy at the moment ...
 
Weekly lows supported the market last week @ 3481,
but with a shift of the Weekly lows this week the expectation is to
push down towards the new Weekly lows @ 3426

This is also confirmed with the breakout of the 5-day lows on Thursday,
with the view that price is moving down on Monday.

Monday SET UP- price move up towards the channel highs and 5-day 50% level:- resistance 3569-72

day-traders should define the rest of the day by 3481:- random support"


Based on my morning report I'm looking for a move down into
3481:- 5-day breakout from Thursday and 5-day 50% level thrust down from Monday

Based on the current action in the SPI (lack of volume and volatility), I
would be so lucky, becasuse it sure doesn't look like it's going that low,
and could be another day like Friday
 

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Forward testing a reversal idea. Two conditions for entry, one for exit. Long/short is taken on the indicated bar at price of the previous low for a short or previous high for a long (except for the daily opening bar where I just entered near the open). That's not the entry condition though, just the entry price. :) Found slippage to be non-existent today (no idea why) so entries have been spot on - beginner's luck probably.
 

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updated road map..

LIS has been good support.we will see if
it can continue

ac;)
 

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MS+Tradesim said:
Forward testing a reversal idea. Two conditions for entry, one for exit. Long/short is taken on the indicated bar at price of the previous low for a short or previous high for a long (except for the daily opening bar where I just entered near the open). That's not the entry condition though, just the entry price. :) Found slippage to be non-existent today (no idea why) so entries have been spot on - beginner's luck probably.
Click to expand...

Nice MS,
now just repeat it day after day, week after week and year after year; and you'll be cruising.
 
acouch said:
updated road map..

LIS has been good support.we will see if
it can continue

ac;)
Click to expand...

Hi Acouch,

is there anywhere i can look up on the net that would be able to give some explanations for your roadmaps so that i can understand them a bit better?

TIA
 
Largesse said:
Hi Acouch,

is there anywhere i can look up on the net that would be able to give some explanations for your roadmaps so that i can understand them a bit better?

TIA
Click to expand...

sorry Largesse, i dont think so,
as it is my own creation..
but the LIS (line in the sand) is for the day 24hrs.
so above you are long / below you are short..
or scalp against the trend..
nos either side of the LIS are support. or resistance..
the road map is created by using Andrews Medianlines, on software packages it is called pitchfork.
i hope this helps for you to understand it
ac;)
 
Good morning
this is how the road map looked this morning,
you can see how LIS supported price,
but as it was a short trading day, it would have broken
next bar , on looking at the chart.and headed down to next support
at 3505..
but we have a new road map for today..
but i though that perhaps you would like see the close, even though a short trading night.
ac;)
 

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good morning all
today's road map
have a great day, and good trades
ac;)
 

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Had 3583 as major support and a possible arvo target and 3530 as an outsider chance this week. My week has been compressed into a day and an hour :eek:
 
SPI Weekly and 5-day pattern


5-day breakout and 5-day 50% level Thrust pattern on Monday
has completed the move down into support @ 3469 on Tuesday

However, we need to understand what the SPI is trying to do, and I’ve
had the view that price was moving down towards the Weekly lows @ 3426.

My set-up today was to short-trade the lower open but only after it
moved upwards 22 points, because of the view it had to complete the
move down into 3469.

That didn’t happen, so I bought support @ 3470

3469 did support the market for a short-term 18 point bounce, but once
it hooked under 3469, the expectation was further weakness down, as
part of the higher timeframe trend.

Switch to shorts, and take the money and exit.

NOW :- 3426 is a downside target for this week, which could end
up being and extremely valid support zone, but this won’t be
confirmed unless tomorrow confirms it with price rising upwards.

However, there is a higher timeframe pattern, (Monthly), which
suggests more weakness down and a continuation down into Febraury
at this stage.

Therefore, support can fail today and continue lower as it’s being
driven down by the higher timeframes, or support holds (3426) but
continues upwards tomorrow (confirmed), and the rest of this week
moves back towards the Weekly 50% level:- hard to believe.
 

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Traded like crap today. Plenty of returns to be had from following my signals but I kept trying to pre-empt them and get earlier entries. Of course that didn't work out, and what should have been a winning day was mildly down. My system works (which it is certainly indicating that it will -in both backward and forward testing). I need to trust it and wait.
 

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