Trading The SPI - NON-Gann Techniques

[Largesse]

am i seeing wrong or were you holding overnight?

i see every trade there as a winner before commission?

im assuming red arrow means short? green arrow means buy?

you started with a short?

 

[Page]

Nice indicator it will help traders to know the exact position of the currency and take trades.

 

[MS+Tradesim]

am i seeing wrong or were you holding overnight?

i see every trade there as a winner before commission?

im assuming red arrow means short? green arrow means buy?

you started with a short?

Sorry, I wasn't very clear. These are the signals my system generated. Had I taken them it would have been a good day. But me, no, I tried to pre-empt them and get the turns sooner. By doing that I got chopped in and out, comms plus losses added up. Red is short, green is long.

Ps. No over night hold there. Just intraday SPI. I am forward testing the same signals on FX too.

Pps. On QLD time too, in case that is a source of confusion.

 

[Largesse]

ahhh, that makes some sense then.

so are those signals to flip the position or just close it out?

and you are right, had you taken your signals you wouldve had a very good day

 

[MS+Tradesim]

ahhh, that makes some sense then.

so are those signals to flip the position or just close it out?

and you are right, had you taken your signals you wouldve had a very good day

Flip. It's a reversal idea.

 

[tech/a]

Private mailed you MS.
You must be seated behind me!

Todays trades for me were the first bar as signalled but on a 4 min chart.
I didnt take this as I dont at this point trade the first 20 mins or last.
2nd trade I did take was the 2nd RED signal and exited and reversed on the lowest green signal.
Closed on the second last red down bar not signal so we must be slightly different.

 

[James Austin]

Traded like crap today. Plenty of returns to be had from following my signals but I kept trying to pre-empt them and get earlier entries. Of course that didn't work out, and what should have been a winning day was mildly down. My system works (which it is certainly indicating that it will -in both backward and forward testing). I need to trust it and wait.

Nice MS
tell us more.
is the system mechanical with a little discretion?
what is the selection criteria generating an entry signal/ and an exit signal? -- or is that a little too personal?
James

 

[MS+Tradesim]

Tech,

I'm not using volume at all. (That may come back to haunt me some day. ) Interesting then that VSA is signalling similarly.


James,

It's purely mechanical which means on days like last Friday it's chop suey time. I don't want to say too much because it looks like being a real edge and I may as well make the most of it till it disappears. Having said that, it is extraordinarily simple. I'm just using a prepackaged indicator in an unusual way with over the top settings. Two conditions for entry, one for exit. I also discovered how wonderful IB's Booktrader is for setting up limit stops and buys - which is resulting in near zero slippage, so fills at the exact signal.....when I wait for it Slippage will probably become more of a concern with larger orders way down the track though, I suppose.

 

[James Austin]

James,

I don't want to say too much because it looks like being a real edge

i understand, dont tell anyone . . . but u can PM me right!

 

[tech/a]

Tech,

I'm not using volume at all. (That may come back to haunt me some day. ) Interesting then that VSA is signalling similarly.

Bars are different on your chart.
Position of trades very similar but the bars
arent the same.
I'm working on volume and bars along with position in the trading pattern.
Nothing of Franks yet but working on it.
Interesting challenge this SPI.
Only testing is limited to hand as I only have a months data in 4 min bars.
Plus of course walk forward.
Hardly definative I know.

 

[MS+Tradesim]

Private mailed you MS.

Tech, if you PMed me, nothing has come through. Odd. Try resending if you like.

 

[tech/a]

Tech, if you PMed me, nothing has come through. Odd. Try resending if you like.

Sent it again says it went though.

 

[acouch]

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

 

[Bronte]

Thank you acouch, LIS 3370
Dow down 3 % overnight.
- 332.13 (7949.09)
NON-Gann Support at 3364
Hope this holds.
Bronte

 

[Frank D]

SPI Weekly and 5-day pattern

Weekly low breakout @ 3426 with the expectation price is heading down
into the January lows @ 3137, and then continue down into an extended
low in February:-

2xtimeframe pattern Dilernia principle

This move was part of the Monthly 50% level Thrust- rejection
patterns down, and today’s breaks of the 3-week lows confirms the
move down.

A bit choppy early on this morning, but below 3404 and view is to
continue down into 3337.

Whether it gets down to 3337 today is another matter, as it's completed
its 44 point range down.

3337 is view as random support, which means it’s more of a target
down, than support.

And we understand where the Monthly trend is trying to go for the rest
of this month:- 3137.

Enjoy your trading day....

 

[tech/a]

Not a bad day for an "L" plater had one signal for entry 3396 and exit signal at 3417
So finished for the day.

 

[Bronte]

Thank you acouch, LIS 3370
Dow down 3 % overnight.
- 332.13 (7949.09)
NON-Gann Support at 3364
Hope this holds.
Bronte

Not a bad day tech/a
3384 Supported nicely.
3374 Low (nice one acouch)
3364 What are the chances ???
Cheers Bronte

 

[Frank D]

Even though the price action on the SPI looked extremely bearish, it was
all about how well BHP could hold support today.


The lows today @ 3375 matched the support on BHP today @ $28.00,
and whilst BHP was supported the potential downside into 3337 didn’t
play out.

But I didn’t want to trade longs today simply based on the higher
timeframe patterns:- Weekly low breakout @ 3426

But it didn’t stop me for trading longs once a BUY pattern was confirmed:-

R44 Hook above 3404 and retest of the break, confirmed with an R22 bottom.

Exit on the R22 completion @ 3420.

Not holding because price is below the Weekly lows @ 3426

Even though it could continue higher back towards 3504 :- 44 points up.

Tomorrow another day...

 

[Bronte]

The lows today @ 3375 matched the support on BHP today @ $28.00, and whilst BHP was supported the potential downside into 3337 didn’t play out.

Todays Low was 3374 Frank
Interesting about BHP.
Thanks Bronte

 

[acouch]

Not a bad day tech/a
3384 Supported nicely.
3374 Low (nice one acouch)
3364 What are the chances ???
Cheers Bronte

Hi bronte,

just home from baby sitting grand child..
yes that LIS is hard to beat..that is for sure..
hope your trading went well
ac