International markets traders banter

[CanOz]

Can anyone tell me why markets often do this on the open? Like the seng just now, opens, pushes lower to some random no support area then just goes beserk and shoots up to close the gap, anyone got any theories to why and how it does that, and why turn at THAT point? Makes it a bitch to try and pick the bottom, was expecting this to happen but just turned lower than I thought, or later should I say, chop chop chop nom nom mince screaming puke....then turns

View attachment 56449

Maybe its in the volume? The market tested a high volume node from a coupla sessions back. Does it all the time. It left value, tested old value and got firmly rejected...

 

[CanOz]

On another topic, i recall Boofis talking about the HSI_HHI spread. There are some nice opportuntities around the morning and afternoon opens to fade this spread. I suspect getting a fill is going to be the hidden caveat here...

 

[kid hustlr]

anyone heard from boofis lately?

t/h what did you do to him?

 

[Trembling Hand]

anyone heard from boofis lately?

t/h what did you do to him?

Last I heard he off working and trying to get a bit more cash to trade.

 

[avion]

Yep well you certainly have something I don't, and after 6 years of searching for what it is, I'm doubting if I ever will.

Sam, T/A is mostly a distraction IMHO. Yes, basics apply (have a look at 30min chart, you can see basic support trend line) but nothing is set in concrete, i think TH said it nicely T/A just frames the trade and you have to jump in, reading in afterwards is where the skill is. I still suffer from premature exits because of fear but i am mercyless when it comes to exits hence my bottom line is crap. I have no choice because the trick is to survive long enough to get the 'feel' developed. I suspect your 6 years was partially wasted because you jump from instrument to instrument. You have to pick one and stick with it no matter what and be tempted by the grass looking greener on the other side. I do dabble in other stuff but thats pure punting if i happen to luck out. I still urge you to stick it out mate.

 

[kid hustlr]

Last I heard he off working and trying to get a bit more cash to trade.

ta mate.

was worried u and the seng had put him in a mental asylum

 

[Trembling Hand]

ta mate.

was worried u and the seng had put him in a mental asylum

Yes that's where all Seng traders end up. Never mind there is still plenty of room in here. :nuts::nuts:

 

[cynic]

ta mate.

was worried u and the seng had put him in a mental asylum

Yes that's where all Seng traders end up. Never mind there is still plenty of room in here. :nuts::nuts:

Yep. DAX traders all end up there too! (With the obvious exception of a certain T/A duck.)

 

[tech/a]

Sam, T/A is mostly a distraction IMHO. Yes, basics apply (have a look at 30min chart, you can see basic support trend line) but nothing is set in concrete, i think TH said it nicely T/A just frames the trade and you have to jump in, reading in afterwards is where the skill is. I still suffer from premature exits because of fear but i am mercyless when it comes to exits hence my bottom line is crap. I have no choice because the trick is to survive long enough to get the 'feel' developed. I suspect your 6 years was partially wasted because you jump from instrument to instrument. You have to pick one and stick with it no matter what and be tempted by the grass looking greener on the other side. I do dabble in other stuff but thats pure punting if i happen to luck out. I still urge you to stick it out mate.

I certainly agree with this.
One of the few real challenges in life that keeps on keeping on.
Truth is You'll never defeat it.
Just win the odd bout!

The most perfect transformer to exist.

(With the obvious exception of a certain T/A duck.)

Nah Im here

 

[barney]

Can anyone tell me why markets often do this on the open? Like the seng just now, opens, pushes lower to some random no support area then just goes beserk and shoots up to close the gap, anyone got any theories to why and how it does that, and why turn at THAT point? Makes it a bitch to try and pick the bottom, was expecting this to happen but just turned lower than I thought, or later should I say, chop chop chop nom nom mince screaming puke....then turns

Courtesy of ideas from both TH and Frank D over the years, I find the 50% zones in all time frames can make sense of what appears random. Having the ballz to take the trade is a different scenario however:1zhelp: I don't have DOM, but its "behaviour" right before the turn would tell some stories I imagine.

 

[ThingyMajiggy]

Courtesy of ideas from both TH and Frank D over the years, I find the 50% zones in all time frames can make sense of what appears random. Having the ballz to take the trade is a different scenario however:1zhelp: I don't have DOM, but its "behaviour" right before the turn would tell some stories I imagine.

Is that supposed to have any relevance in that chart? Because I can't see anything important bounces/trend changes off those 50% lines.

 

[barney]

Is that supposed to have any relevance in that chart? Because I can't see anything important bounces/trend changes off those 50% lines.

Sorry if it wasn't clear; thought it was obvious ..... The spike down/reversal area you were "going crook about" was pretty much the 50% level of last weeks range ..... to the tick! (i.e. where the pink lines meet ... Just an observation)

 

[ThingyMajiggy]

Sorry if it wasn't clear; thought it was obvious ..... The spike down/reversal area you were "going crook about" was pretty much the 50% level of last weeks range ..... to the tick! (i.e. where the pink lines meet ... Just an observation)

Ahh sorry, didn't see the candle that touches it nearly to the tick, blended in with the next day dotted line separator. Might be a coincidence more than anything as the last two weeks didn't seem to have anything outside in regard to the 50% lines.

But yeah, it is something I already keep an eye on. Not quite on that large of a scale though.

 

[barney]

Ahh sorry, didn't see the candle that touches it nearly to the tick, blended in with the next day dotted line separator. Might be a coincidence more than anything as the last two weeks didn't seem to have anything outside in regard to the 50% lines.

But yeah, it is something I already keep an eye on. Not quite on that large of a scale though.

As you say probably coincidence hitting the exact 50% tick. I don't have the kahunas to trade the HSI, but flicking back through the chart there seem to be a fair amount of spikes into that 50% weekly area .... not always to the tick but close. Cheers.

 

[CanOz]

WTF? I went to have a shower and came back to an open profit of over 4000 HKD (sim) on my HSI_HHI spread trade.....news???

 

[kid hustlr]

pmi

 

[CanOz]

Here are the two Hong Kong contracts as well as the spread....this really takes some of the volatility out of the HSI by trading it with the HHI. You can see that the spread trends much better than the outrights...

Its very easy to construct this spread on IB.

I would encourage anyone interested in trading Asia indices to look at this spread instead of the outrights.

Today on the open i took two sim trades, I sold the spike up on the open and rode it down, then exited and bought the bottom...it usually returns to a 'mean'. At one to one the HSI is more volitile and tends to recover quicker than the HHI. I don't know if my thinking is right here yet, still just playing around really.

- - - Updated - - -

Here are the two Hong Kong contracts as well as the spread....this really takes some of the volatility out of the HSI but trading it with the HHI. You can see that the spread trends much better than the outrights...

Its very easy to construct this spread on IB.

I would encourage anyone interested in trading Asia indices to look at this spread instead of the outrights.

Today on the open i took two sim trades, I sold the spike up on the open and rode it down, then exited and bought the bottom...it usually returns to a 'mean'. At one to one the HSI is more volatile and tends to recover quicker than the HHI. I don't know if my thinking is right here yet, still just playing around really.

 

[ThingyMajiggy]

I would encourage anyone interested in trading Asia indices to look at this spread instead of the outrights.

Today on the open i took two sim trades, I sold the spike up on the open and rode it down, then exited and bought the bottom...it usually returns to a 'mean'. At one to one the HSI is more volatile and tends to recover quicker than the HHI. I don't know if my thinking is right here yet, still just playing around really.

You realise you wrote everything twice in that post?

That spread is interesting, is it an actual spread "product" that you can enter or do you have to leg in manually, because if so, then screw trying to do that with those two crazy markets! But if it's a tradeable from as one product then I might look into it, certainly seems to trend well and looks good to fade?

Now to try and get spread charts in NT.........something it MASSIVELY lacks in its features.

 

[CanOz]

You realise you wrote everything twice in that post?

That spread is interesting, is it an actual spread "product" that you can enter or do you have to leg in manually, because if so, then screw trying to do that with those two crazy markets! But if it's a tradeable from as one product then I might look into it, certainly seems to trend well and looks good to fade?

Now to try and get spread charts in NT.........something it MASSIVELY lacks in its features.

lol...yeah, i don't know what happened when i tried to edit the spelling mistakes...

You can construct the spread on IB as i showed in the video i did a while back...will find that link. You can even specify how many contracts of each to trade, but i use 1:1 on this spread. I'm not sure though how realistic it is to use the new 'product' to enter and exit trades. I fear there could be some slippage and to leg it manually you'd need a quiet spell with no bid/ask spread...

At 1:1 the HSI_HHI is a fractional spread that isn't perfect but it does make for rational behavior...

I have a spread indicator for NT that i had coded. Boofis also gave me one. Neither are easy to use so i abandoned them in favor of IB for indices and eSignal for calendars.

 

[CanOz]

Here is a link to constructing the spreads Sam....

https://www.aussiestockforums.com/forums/showthread.php?t=27182&p=809378#post809378