Trading The SPI - NON-Gann Techniques

• 13 November 2008

• #2,421

acouch

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Joolean said:

One more question ac.

From what I can gather, IB pay bank rate interest -0.5% on balances > $11k. Can you confirm this?
I was concerned about transferring that cash from my savings account because of the interest it earns but if the above is true, then the interest paid by IB is practically the same.
I'm use to CMC who don't pay Jack on accounts < $20k.

Cheers,
Jules.

Click to expand...

hopefully jules,
the interest rate is of no concern..and that you make heaps., and ib return is so cheap..on spi..
you have to spend money to make money
ac

 

• 14 November 2008

• #2,422

J

Joolean

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What can I say, I'm very frugal.

I'm only using IB for data so it's an expense, not an income unfortunately. I'll get there at some stage.

Cheers,
Jules.

 

• 14 November 2008

• #2,423

acouch

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Joolean said:

What can I say, I'm very frugal.

I'm only using IB for data so it's an expense, not an income unfortunately. I'll get there at some stage.

Cheers,
Jules.

Click to expand...

i can understand that, when first starting off,
but i dont think you will get live feed any cheaper than ib

ac

 

• 14 November 2008

• #2,424

acouch

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good morning all
toady's road map
have a great day , and good trades
ac

 

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• 15 November 2008

• #2,425

acouch

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for interest
how the road map above looked after its 24hr
trading.
once again ib closed off early,, must be a sat.morning thing..
spi closed at 3693..
ac

 

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• 15 November 2008

• #2,426

acouch

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good morning all
Monday's road map
have a great weekend, and take care
ac

 

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• 15 November 2008

• #2,427

julius

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Hi MRC,

If you get a chance could you post a profit/loss distribution for individual trades, similar to the charts TremblingHand has posted before ?

Interested to see what yours looks like compared with TH.

MRC & Co said:

Tough one on the SPI today, how any of you other traders go?

I managed 54 points after 169 round trips. So not bad, but most of that came in the morning. After that, was extremelly tough.

Click to expand...

 

• 15 November 2008

• #2,428

MRC & Co

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Yeh, will send it to you. Don't have any with me ATM, in a diff city. Not sure if I can post one to the site (given I am trading a company account), so will have to PM you.

I try to get a small edge in both win% and average win to average loss. Much more of a scalper than position trader like quite a few intraday traders.

Prob looks somewhat similar to TH, but not quite the large win outliers and more large loss outliers when I get caught on the wrong side of a flick or sweep (plenty of them lately in this rubbish market and no stops doesn't help one bit).

Usually all 1 lots, sometimes pyramid upto 4 with a max of 6. So will send you the scatter chart per contract and one per trade, which will give more of an idea as it includes pyramiding etc.

 

• 16 November 2008

• #2,429

julius

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That would be great, thanks alot.

I am making the transition from intraday position to more of a scalping style myself.

 

• 16 November 2008

• #2,430

julius

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btw... why no stops ? Company policy or is it a strategy thing ?

 

• 16 November 2008

• #2,431

MRC & Co

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Na, no stops cause of SFE.

So all has to be done mentally and manually.

 

• 16 November 2008

• #2,432

>Apocalypto<

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MRC & Co said:

Na, no stops cause of SFE.

So all has to be done mentally and manually.

Click to expand...

really! can u use orders to close?

I am long one contract and I put in a order to sell 1 contract 15 points down. so if hit it sells out my long position?

Cheers

 

• 16 November 2008

• #2,433

MRC & Co

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>Apocalypto< said:

really! can u use orders to close?

I am long one contract and I put in a order to sell 1 contract 15 points down. so if hit it sells out my long position?

Cheers

Click to expand...

Na, can't use stop orders to close, except profit targets (so only a sell order above market price or a buy order below market price).

Though I have heard something about different exchanges which do not hold stop orders but them being held on your execution platform instead. Didn't trade SPI much through IB, so maybe you can use them on it..........

 

• 16 November 2008

• #2,434

>Apocalypto<

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MRC & Co said:

Na, can't use stop orders to close, except profit targets (so only a sell order above market price or a buy order below market price).

Though I have heard something about different exchanges which do not hold stop orders but them being held on your execution platform instead. Didn't trade SPI much through IB, so maybe you can use them on it..........

Click to expand...

that could make life interesting!

 

• 18 November 2008

• #2,435

acouch

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

 

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• 19 November 2008

• #2,436

acouch

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

 

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• 19 November 2008

• #2,437

MRC & Co

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How any of you SPI traders go today?

A small fortune was there to be made! Unfortunately, my loot wasn't quite the treasure.

 

• 19 November 2008

• #2,438

Rockon2

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Ye did ok on one break of pattern.. missed the big move tho..

always tonight, and tomorrow. etc etc ...

 

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• 19 November 2008

• #2,439

MRC & Co

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Good stuff Rockon! Yeh, that level was like a tripple top on the 1 min chart, I tried fading it on the 4th attempt (the actual breakout)!

Came back and retested that exact level twice and it acted as strong support and bounced off. I faded neither.

ha ha. Caught up in the mess that is the order book at those times. Need to start watching the important levels closer and fading any bounce off them. Think I'm too used to the SPI false breaks, so any legit bounce must be fake. ha ha. Go figure.

 

• 20 November 2008

• #2,440

acouch

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eod chart posted in october..below..we are very close to
support at 3345..to be aware of, i would expect a bounce of that..
we will see what the trading gods offer

road map for today..
have a great day and good trades..
ac

 

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