SPI Trading on Interactive Brokers

[baxter]

There's always the SPI index itself.

On IB's platform the XJO is described as "Index SPI", but really there's no such thing as "the SPI index". There is the XJO which is the index or the 'cash' (which you can't trade), and there is the SPI which is the futures contract based on the XJO.

They obviously move similarly (but not exactly the same) during the time when the our market is open, but once our market is closed, the SPI follows the rest of the world markets trying predict where our market will open the next day - which is why most of the big moves on the SPI happen overnight, and generally why it's really quite a crappy instrument to trade.

When I was talking about a 'continuous' contract, I was referring to, for example, on eSignal, they have a symbol 'ES 1!' which in effect links together all the previous S&P emini contracts. This enables you to do some backtesting on more than just the current futures contract, and is quite different from doing backtesting on the index itself.

Cheers,
Baxter.

 

[cutz]

Cutz - not sure quite what you were asking. The SPI trades each day from 9:50am till 4:30pm and then from 5:10pm to 7:00am or so (depending on day light savings), and trades on a quarterly contract. I'm not sure if there is a 'continuous' contract on IB which links past contracts together - I haven't looked for it either though. Maybe someone else knows? The current contract through IB is listed as "APU9" on SNFE and as "SPI 09-09" in Ninja Trader.

Cheers,
Baxter.

Hi Baxter,

Yeah i'm aware of the trading times, my query was just relating to the price change on the quote panel, for example ATM it's -34, i assume that's the change from yesterdays day session close.? not the night session.

As for the rollover contract i was referring to, i came it across somewhere, can't remember where, i guess it's just as easy executing a spread.

 

[MONEYKING]

Hi Moneyking,

Not sure if you read my post properly - I'm using IB's platform - I didn't mention MF Global and have never used them for trading futures so can't comment much about them. But perhaps you could tell us a little bit more about using their platform if you've been with them since January (brokerage costs, margins, data feed costs, platform costs, speed of execution, charting programs, order entry etc...)

Cutz - not sure quite what you were asking. The SPI trades each day from 9:50am till 4:30pm and then from 5:10pm to 7:00am or so (depending on day light savings), and trades on a quarterly contract. I'm not sure if there is a 'continuous' contract on IB which links past contracts together - I haven't looked for it either though. Maybe someone else knows? The current contract through IB is listed as "APU9" on SNFE and as "SPI 09-09" in Ninja Trader.

Cheers,
Baxter.

Hi baxter
there charts is not to bad buy & sell cost $15.90 and you can buy a contract for $4000 that is on a margin i attach a trading platform for you .i am using e-Midas platform from mf globel equity's just to see how the top 20 shares are trading and the xjo i run there charts on 2-minutes.i would like to see your trading platform, today's trading platform of mine

 

[cutz]

Hi Guys,

Does a limit stop order set during the day session stay in the system so it remains active for the night session.

 

[MONEYKING]

Hi Guys,

Does a limit stop order set during the day session stay in the system so it remains active for the night session.

no as far as i now my trading platform i have to change it do not leave a open order on the night trade if you not going to sit at youre screen sell rather just not just leave it it cost me $20 000.00 4 moths ago.i let my broker now over the phone to put a stop loss the night trading is very thin can fall easy threw stop loss

 

[skyQuake]

Rather not have stops on the night session. 50pt spread anyone? Not cool at all.

Also, anyone having troubles logging in?

 

[cutz]

Thanks guys,

Yep i agree probably not a good idea( night stops ), just getting to know my way around this instrument.

 

[amy997]

Hi

I really wanted to start a new thread to post this in but for some reason I wasn't allowed, so mods please feel free to move this post.

My comment is about market orders v's limit orders.

I have read a lot on these forums on the virtues of limit orders over market orders, but in trading the spi I have found the opposite to be true.

When i place limit orders in the market i find that about half these won't be filled, price will touch me but then move away before collecting me. So I miss out on a lot of trades that would have been profitable for me, but I am always going to get filled on a trade that is going to be stopped out.

As a result of this I have found that days where i use limit orders will almost always end in losses where days i use market orders will almost always be profitable.

I no longer use limit orders but i just wonder whether anyone else has experienced anything similar or perhaps i am doing something wrong in setting my limit orders to have such a poor fill rate.

 

[skyQuake]

Hi

I really wanted to start a new thread to post this in but for some reason I wasn't allowed, so mods please feel free to move this post.

My comment is about market orders v's limit orders.

I have read a lot on these forums on the virtues of limit orders over market orders, but in trading the spi I have found the opposite to be true.

When i place limit orders in the market i find that about half these won't be filled, price will touch me but then move away before collecting me. So I miss out on a lot of trades that would have been profitable for me, but I am always going to get filled on a trade that is going to be stopped out.

As a result of this I have found that days where i use limit orders will almost always end in losses where days i use market orders will almost always be profitable.

I no longer use limit orders but i just wonder whether anyone else has experienced anything similar or perhaps i am doing something wrong in setting my limit orders to have such a poor fill rate.

Cause its a thin bot infested market...

Are you trading live or on sims?

Lots of traders use mkt to enter, and limits to exit.

 

[amy997]

I am trading live

I now use markets to enter and limits to exit. I was trying to use limits for both

 

[Pit Trader]

Spi on IB is very good considering the free charts and $10 round turn !!!

 

[SevenFX]

Just a heads up for the Newbees.

If your account was created via the USA IB site then you will most likely be connected to thier primary servers, in which case at around 2pm-2.30pm AU time you may be disconnected or disrupted from trading, worse still not able to close out your trade. This is due to US restarting their servers 12midnight US time.

Only solution is to move your account to the Hong Kong servers which IB helpdesk can assist, which residing in AU will give you better connection times (too USA is around 250ms whereas HK is around 150ms with any reasonable broadband connection)

Cheers
SevenFX