SPI200 Chat - What will happen next?? *suspense music*

[Trembling Hand]

Cheers for those TH. great posts

He often speaks about visualization techniques, have you tried this yourself? If so, has it had much effect?

Yeah works a threat. look how much better I am,

Its called Cognitive therapy.

A lot about it in Enhancing Trader Performance.

 

[Wysiwyg]

Every good Escape Artist has an attractive female Assistant.

 

[Naked shorts]

Just on my attempts at backyard psychology,

Turns out that first report was funded by Jim Simons

 

[nomore4s]

Looking at the Chart for the ASX 200 on the main ASF page your analysis was just about spot on again. I guess there was no way of knowing that the day was going to be a down day @ 10:30am, and with 2 heavy weights reporting could increase risk of fading the up moves.

Yeah, that analysis was only based off around 30 odd days I think it was as I said on my blog, so I'm not sure how accurate it is, and yes its hard to tell whether its going to be THE high or THE low at 10am, I guess if it breaks the low or high up until the present, then its probably going to continue in that direction.

Finding this stuff out and actually trading them are two very different things, for me anyway.

This was actually discussed in the chat room this morning live, after 2 attempts at the highs early, a 3rd attempt at the high followed by a down move on the SPI was called before it happened and traded to a certain extent (limited due to work commitments). IMO after the 3rd attempt and failure to push higher the odds of a down move increased dramatically based on previous stats. While not expecting the move down that we got it should have at least put you on the right side of the market giving the trader every chance to capture some of that move.

Like Sam said finding these stats and patterns is one thing learning how to trade them is another. The idea behind knowing these stats and patterns is to put you on the right side of the market, giving you an idea of what could eventuate.
It is then up to you to develop a system that will give you good entries and exits to take advantage of this information.

What happens to a lot of traders is they end up with the blinkers on after the day starts, they are so focused on watching the charts or depth or whatever, they fail to see these set ups forming and end up on the wrong side of the market and then by the time they realise what is going on the move is over and they end up on the wrong side of the counter move or sideways action that follows.

Edit: Chart Added

 

[Trembling Hand]

Turns out that first report was funded by Jim Simons!

 

[Naked shorts]

well.. I thought it was interesting.. probably not worth an exclamation mark however.


Mods, can I get the exclamation mark removed from my last post?
Many thanks

 

[nunthewiser]

This was actually discussed in the chat room this morning live, after 2 attempts at the highs early, a 3rd attempt at the high followed by a down move on the SPI was called before it happened and traded to a certain extent (limited due to work commitments). .

Dont tell em that !

Now we gunna get an invasion of bright eyed bushy tailed guru seekers bombarding the joint...... when in reality we only go there to chat about recipies, pr0n and how to make moonshine.


Good call by the way.

 

[nulla nulla]

Dont tell em that !

Now we gunna get an invasion of bright eyed bushy tailed guru seekers bombarding the joint...... when in reality we only go there to chat about recipies, pr0n and how to make moonshine.


Good call by the way.

Unfortunately the pr0n recomendations haven't been up to it lately as oz is busy working elsewhere and nomore4's recmmendations crash your computers.

 

[nomore4s]

Dont tell em that !

Now we gunna get an invasion of bright eyed bushy tailed guru seekers bombarding the joint...... when in reality we only go there to chat about recipies, pr0n and how to make moonshine.

This will probably attract more people then any trading info:

 

[nulla nulla]

I find this one fairly suspenseful. You never know whether the swan is going to make into the air or get shot down by some out of season duck hunter.

http://www.youtube.com/watch?v=8u4JxtIGGMk

 

[johnnyg]

Nice post nomores, I'd love to be able and sit down during the day try to get a feel for it, however this style of trading doesn't fit in with my work commitments.

 

[Trembling Hand]

Boy they didn't like that one?

SUPRISE!!

hahaha!

 

[skyQuake]

Oh man how many people would have been caught out by that!

Thank you feds for making life interesting,

I'd imagine a lot of retail guys would have no idea and just look at the dow up and buy away...

 

[Trembling Hand]

I'd imagine a lot of retail guys would have no idea and just look at the dow up and buy away...

As they always do.

 

[ThingyMajiggy]

I wonder if that will have much impact on the open tonight.

 

[Trembling Hand]

I wonder if that will have much impact on the open tonight.

Yeah a lot of trades to pass under the bridge by then. Will probably just close the gap by US open so Explode can bring out the PPT line.

I guess keep an eye on the currencies, should be a good tell.

 

[ThingyMajiggy]

Nice rally just now, someone didn't want it below 20 it seems?

 

[Mr J]

Nice rally just now, someone didn't want it below 20 it seems?

It's been a while since I traded the SPI, but I wouldn't have called 18 points a rally. 19, 20, 21... moving up.

 

[Trembling Hand]

Nice rally just now, someone didn't want it below 20 it seems?

Kospi been going up ever since it opened, Japan also heading into green. Euro made a nice bottom.

Off we go?

 

[ThingyMajiggy]

It's been a while since I traded the SPI, but I wouldn't have called 18 points a rally. 19, 20, 21... moving up.

Sorry? Relative to the rest of the day, I'd call it a nice rally/move up/ whatever your heart desires to call it. 22 candles without a down one is not bad.