Trading The SPI - NON-Gann Techniques

[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

Yes, very well, thank you acouch
We are very impressed by your LIS
Have a great evening.
Bronte

 

[MS+Tradesim]

Didn't trade today. Catching up on tax returns.

You all needed to know that.

 

[acouch]

the never ending spi eod chart to keep you in the loop..
have a great day
ac

well thought it would update eod chart for those that have followed it through since the dble top of 6004..
nothing much has changed..it is just a slow ebb down to target..
last chart of this was on page 119 for any of those interested..
have a great evening..
and take care
ac

ps..first chart was on page 102
ac

 

[acouch]

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

 

[Trembling Hand]

Gee the Boyz are really holding this sucker down well!

 

[MRC & Co]

Gee the Boyz are really holding this sucker down well!

They are being complete nobs lately.

Holding it down when other markets rally, pushing it up when other markets come off. Intraday that is.

Better to not even look at international indices ATM, just causing headaches.

 

[Trembling Hand]

They are being complete nobs lately.

LOL, Thats their job

 

[MRC & Co]

LOL, Thats their job

Yeh, but the spec stock, I mean index, that is the SPI, is a pretty easy job.

Usually, you get a squeeze, then it goes, last couple weeks, you just get nothing at all or a move the complete opposite direction.

 

[Trembling Hand]

And so it goes!

Pretty much following the same pattern since the start of Dec of gaping and rotation back into yesterdays range, mostly the mid of yesterday.

Bar the odd running day.

 

[MRC & Co]

And so it goes!

Yah, regardless of Asias movements.

 

[tech/a]

And so it goes!

Pretty much following the same pattern since the start of Dec of gaping and rotation back into yesterdays range, mostly the mid of yesterday.

Bar the odd running day.

Yah, regardless of Asias movements.

And this from another scalping the HSI

1: 55pm "my view is we bottomed for the day, back to highs by eod"

What I meant was I changed my mind by 2:10PM about the days direction, not long after, I changed it again back to bullish.

Sorry just dont understand these comments surely when scalping there is no personal view simply trading supply and demand.

Who cares what happens where --- the tape or DOM tells it all.
How can you trade like this when you have a bias.
Judgement would be clouded.

In our HSI traders example he's simply guessing the market no scalping here.
Supply and demand are a "Feeling" not an anylitical observation.

 

[Trembling Hand]

Who cares what happens where --- the tape or DOM tells it all.
How can you trade like this when you have a bias.
Judgement would be clouded.

What ya talking about??

 

[tech/a]

Your kidding.

We have 3 people who scalp.
Why do they care or even have an opinion of why the market they are trading is moving in a particular direction?

No problem just an observation of my own.(Particularly HSI guy.)

 

[Trembling Hand]

Your kidding.

We have 3 people who scalp.
Why do they care or even have an opinion of why the market they are trading is moving in a particular direction?

No problem just an observation of my own.(Particularly HSI guy.)

LOL.

Because if you know what its going to do before it does it you make money.

It ain't just throwing orders in front of dudes putting spoof orders in the DOM. Its reading order flow and from my comment at 10:14 - 3 min before we failed to take out the highs then revered to set new lows I was on the money. And made money from my opinion. Don't see whats wrong with that In fact what MR C & I was pointing out was the main money making theme during the morning session. It was going down!!

 

[MRC & Co]

Scalping is not all about DOM.

Analysing the psychology behind the flows, is a large part of it for some. Who is trapped? What is that spoof? Does he want his fill and is really trying to get people to attack his direction to get better fills before going to market to finish up (driving the price up if his spoof was originally on the bid, because he actually wanted fills) or is he simply trying to drive price the other way to get fills on the other side (i.e. he is spoofing the ask, so people frontrun him and he puts his orders in the book on the ask to get short)? Some take opinions and form a bias at certain times, while other times purely rely on DOM, some never take a bias and purely trade off DOM.

DOM is not the be all and end all, it is just another tool to be used, which can add a big advantage at certain times. Other times, it doesn't help a bit, whilst others, it can be more of a hinderance. Knowing the difference is the hard part but the key.

That is my opinion anyways.

My comment, is based on this: If the main markets in our timeframe (Nikkei, HSI, S&P) move in one direction significantly, you can usually expect a big guy to push the SPI the other way, then move it in the direction of the other markets. Knowing to look for this, is just another reason to be intimate with your market. Unlike Europe, being first on the SPI, is sometimes a curse (due to it's illiquidity and hence, manipulative nature).

 

[MRC & Co]

(i.e. he is spoofing the bid, so people frontrun him and he puts his orders in the book on the ask to get short)? .

Sorry, the above quote is meant to read like it does now.

 

[tech/a]

Scalping is not all about DOM.

Analysing the psychology behind the flows, is a large part of it for some. Who is trapped? What is that spoof? Does he want his fill and is really trying to get people to attack his direction to get better fills before going to market to finish up (driving the price up if his spoof was originally on the bid, because he actually wanted fills) or is he simply trying to drive price the other way to get fills on the other side (i.e. he is spoofing the ask, so people frontrun him and he puts his orders in the book on the ask to get short)? Some take opinions and form a bias at certain times, while other times purely rely on DOM, some never take a bias and purely trade off DOM.

You cant be serious?

You dont actually believe that there are people out there who from the movement in orders on and off the board,can become expert in the psychology of those who are placing and withdrawing these bids.
To such a degree they trade large parcels which take real kahuna's (Whoa I bet it does) with massive percieved confidence.

And you wish to emulate that type of trading?

Infact fund managers are searching these people out!
These people look after our superfunds and the worlds currencies!

God help us!

Yeh I know I just dont have any idea.
Ignorance is bliss and profitable.

 

[Trembling Hand]

So tech, The God of ALL trading, no comment on the fact that we picked the direction of the day from watching DOM

That we managed to see something??

 

[acouch]

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

 

[prawn_86]

Tech,

I find it amusing that you have said that you are only just playing with the SPI, and yet now you are profitable, it seems that everyone else's methods are inferior.

You of all people should know that there are many ways to turn a buck, after all some said that VSA wouldn't work on the SPI, so why is it you slag off things that you think wont work?