Trading The SPI - NON-Gann Techniques

[Edwood]

good to get some direction, short with trailing stop, now +14

 

[Pager]

out of interest what sort of spread do you guys see on direct access? I get a fixed 2 points on a spreadbet but with skew taken into account can be wider

Spreads on the SFE are usually only 1 point, as in bid 5524, offer 5525, what is spreadbet ?.

Well done on the 14 points, i missed the directional move down , as i had to get back to my day job.

Cheers

Pager

 

[Edwood]

Spreads on the SFE are usually only 1 point, as in bid 5524, offer 5525, what is spreadbet ?.

Well done on the 14 points, i missed the directional move down , as i had to get back to my day job.

Cheers

Pager

thanks Pager, sorry to hear you're back at work :-(

yeah it was forming a sort of symmetrical triangle and was going to break one way or another

the guys in the UK who use are on direct access get between 0.5 and 1.5 spread on FTSE depending on the market, so I was just interested to know what its like over here on direct access (I may go that route in future).

a spreadbet is a tax-free way of trading in the UK - classified as gambling so profits (& losses!) are non-taxable, but also means the spreadbet co's aren't bound by the exchange prices, they make their own market which sux sometimes. its a lot like CFD's but CFD's in the UK are taxable & tend to be closer to market prices. you don't get dividends on spreadbets tho. the price action is very similar to futures.

 

[Euler]

out of interest what sort of spread do you guys see on direct access? I get a fixed 2 points on a spreadbet but with skew taken into account can be wider

Normally 1 point on consistent basis in day session. On occassions see 2 points but doesn't last too long ... and few times can stretch out to 4-5 points, but lasts even less. On SYCOM it's a different matter!
Who is yr broker?
Have never liked market makers who set their own prices ... always in their favour! So it may not be costing you 2 points ..... real cost may be 3+ point each leg.

 

[Edwood]

Who is yr broker?

CMC Markets

Have never liked market makers who set their own prices ... always in their favour! So it may not be costing you 2 points ..... real cost may be 3+ point each leg.

yeah thats just the way it is with spreadbets. some offer 1pt but they close you down once you start making consistent profits, or switch you to phone dealing only. the spread makes scalping difficult so I try to play the swings & trend moves

 

[Edwood]

I guess if I post my position I should say that I've now closed for +13. Reason for the pause perhaps...

 

[Euler]

CMC Markets
yeah thats just the way it is with spreadbets. some offer 1pt but they close you down once you start making consistent profits, or switch you to phone dealing only. the spread makes scalping difficult so I try to play the swings & trend moves

Thx Ed ... and good luck ... make 'em pay!!

 

[Pager]

Back online for the close

Looking for an opportunity to sell at around 5515/16, on the buy side nothing doing unless we get down to 5500 in the next 5 mins.

Currently 5510, so no opportunitys standing out

 

[Pager]

Short at 5514, looking for a close around 5506, stop is at 5518

 

[Edwood]

Thx Ed ... and good luck ... make 'em pay!!

cheers Euler, will do my best!

looks like I closed too soon unfortunately, but got the nieces & nephews over today so trying to trade & entertain & its raining so its been a funny old day!

 

[Pager]

Out at 5515 as it closed for - 1 point .

 

[Euler]

5518, 48-02 .... sitting on VAH ... a break will be long

 

[professor_frink]

morning folks,

we had a gap open at resistance-good opportunity for a gap fade. Unfortunately, my sell order @ 56 didn't get hit

Anyway, looking for it to move back towards the 5530 area

 

[professor_frink]

5518, 48-02 .... sitting on VAH ... a break will be long

morning Euler,
could the break to the short side and subsequent test be a candidate for a short?

 

[Euler]

morning Euler,
could the break to the short side and subsequent test be a candidate for a short?

Hi Prof,
price is too far from the POC so don't favour a short atm. Value is sitting at the high end of the range. Am watching for a break, but she's in irons!

Another slant ... support at 40 level and is holding ... possible looking to initially test 60.

 

[professor_frink]

Hi Prof,
price is too far from the POC so don't favour a short atm. Value is sitting at the high end of the range. Am watching for a break, but she's in irons!

Another slant ... support at 40 level and is holding ... possible looking to initially test 60.

So it's kind of similar to yesterday, but in reverse If you get a move like yesterday's, you'll be doing pretty well

Not up with the proper way to use it at the moment, but I'm starting to like the levels it spits out for each day.

 

[Euler]

So it's kind of similar to yesterday, but in reverse If you get a move like yesterday's, you'll be doing pretty well

Not up with the proper way to use it at the moment, but I'm starting to like the levels it spits out for each day.

yes exactly ... I'm looking at intraday as well as i write ... although not mature ... just sit

PS .. i wish i could overlay days!!

PPS ... maybe i should do a running weekly?? .... thinking out aloud!!

 

[Euler]

morning Euler,
could the break to the short side and subsequent test be a candidate for a short?

Prof, she's testing yr call. Could be on ... but it's playing atm

 

[professor_frink]

Prof, she's testing yr call. Could be on ... but it's playing atm

It's very,very,very slowly heading south. Have to admit, if I had of got my sell filled on the opening, I'd probably have closed it out by now out of sheer boredom

 

[professor_frink]

yes exactly ... I'm looking at intraday as well as i write ... although not mature ... just sit

PS .. i wish i could overlay days!!

PPS ... maybe i should do a running weekly?? .... thinking out aloud!!

I've heard of people plotting 3 and 5 day levels before, maybe it's something to look into