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short 1.055
Day Trading Lynas
- Thread starter Gringotts Bank
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If this downwards push falters, the index will cross the zero line and test the waters there.
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cover 1.045
looking for that upside break now.
Note to self: you're pulling the trigger too soon!
looking for that upside break now.
Note to self: you're pulling the trigger too soon!
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Summary (Thurs first week).
Paper loss: -$104
Brokerage is really cutting into this, and there's not a lot of meat on the bone even when I get it right. The other problem is a slight lag and loss of correlation between XAO and LYC, which means I am watching two markets instead of one, and trying to balance them out.
Morrison securities have $10 commission and $150pcm platform fee for trading SPI which might work out better. Can anyone recommend them?
Paper loss: -$104
Brokerage is really cutting into this, and there's not a lot of meat on the bone even when I get it right. The other problem is a slight lag and loss of correlation between XAO and LYC, which means I am watching two markets instead of one, and trying to balance them out.
Morrison securities have $10 commission and $150pcm platform fee for trading SPI which might work out better. Can anyone recommend them?
tech/a
No Ordinary Duck
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GG
With your "Backtesting" observation your working with a FIXED 3 ticks or 1.5c
In live trading your working with a VARIABLE.
That will always be your problem.
Be done with it and go IB
Pain to set up but you can trade anything.
$5 each way
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Yeh I'll def look at IB too tech.
Meanwhile...
B:1.05
Meanwhile...
B:1.05
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sorry bit late with this post, S:1.065
and I'm back in black - paper profit $500
and I'm back in black - paper profit $500
Gringott,
I don't understand your fascination with Lynas.
If you are trading a strategy that involves entering a single stock based on movements in the overall market cash index then you will only be successful if there is some reason for that stock having a high lagging correlation to the index, and for that reason to be ongoing. I see no such reason being the case for Lynas.
I would suggest you try using the futures contact as a leading indicator for a stock that has a high index weighting, eg. using SPI to predict BHP or CBA movements.
I don't understand your fascination with Lynas.
If you are trading a strategy that involves entering a single stock based on movements in the overall market cash index then you will only be successful if there is some reason for that stock having a high lagging correlation to the index, and for that reason to be ongoing. I see no such reason being the case for Lynas.
I would suggest you try using the futures contact as a leading indicator for a stock that has a high index weighting, eg. using SPI to predict BHP or CBA movements.
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Hi elbee,
LYC does have a very good correlation to the index particularly when short (not nearly so strong when long). I also find the depth easier to read than the big blue chips.
I would have thought the day session of the SPI would have mirrored XAO in terms of movements. You're saying it leads the index?
LYC does have a very good correlation to the index particularly when short (not nearly so strong when long). I also find the depth easier to read than the big blue chips.
I would have thought the day session of the SPI would have mirrored XAO in terms of movements. You're saying it leads the index?
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I see, thanks for that. Would that be a regular occurrence?
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Probably not wise to jump in too early today. I guess if the asian markets run up hard it will take us along for the ride, but I think shorts are out today.
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Missed a small opportunity there short at 1.115. Note to self: charts are proving more reliable than depth. Similar to yesterday, waiting for a bounce now. I think if I was trading real money I'd halve my position size today due to lack of liquidity.
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B: 1.11
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s: 1.115
summary week 1: paper profit $614, represents 1.2% return on capital.
I don't think there will be much further action today. Hoping for 2-4% return next week if I can improve upon the mistakes made this week.
summary week 1: paper profit $614, represents 1.2% return on capital.
I don't think there will be much further action today. Hoping for 2-4% return next week if I can improve upon the mistakes made this week.
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buy at open.
B: 1.13
B: 1.13
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S: 1.14
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LYC's range can vary quite a bit. No point taking a 1c move when theres a big move going on in the SPI re the IMF bailout
skc
Goldmember
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Have you included commission here?
Like SkyQ says, watching LYC full time can be like watching paint dry on many days.
Volatility leads to volatility. If you just do a simple scan of what moved the most yesterday with volume, short list 10 stocks to watch for today and also have in mind the critical levels for those stocks... you'd at least be exposed to much more opportunities... and better opportunities on days when LYC doesn't move.
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I know I exited too early. There was a 5% move in it.
commissions included, $110 round trip.
I have thought about watching a list of recently volatile stocks but I really need simplicity, because I don't want to trade full time and I don't like flipping around different screens and MD's.
I'd rather trade an Aus index cfd, but the commissions are just enormous. I think it was something like $187 for $50000
commissions included, $110 round trip.
I have thought about watching a list of recently volatile stocks but I really need simplicity, because I don't want to trade full time and I don't like flipping around different screens and MD's.
I'd rather trade an Aus index cfd, but the commissions are just enormous. I think it was something like $187 for $50000
