Trading The SPI - NON-Gann Techniques

[MS+Tradesim]

Sheesh. Just trade, people. Your bottom line will tell you the only thing that matters about your method.

 

[tech/a]

Stop 3320
Watching 2 min bars looking for strength or weakness in the next few bars.
The last 2 min bar was long range massive volume in comparison to others.
Is this move still strong or weak?

I'll be chacing the stop down as its close to EOD for me no trading after 3.30 it goes spastic.
Ah dont have to worry stopped at 3320.

 

[Frank D]

5-day breakout @ 3339, but normally price action only moves 44 points
and then moves back towards the 5-day break…

Hard to tell on a day like today, whether there is going to be any
reversals, as it has struggled to even do 1x22 point reversal today.

Break of 3339 and switch into shorts and exit.

Random support 3294


Keep in mind that this is a larger trend drive downwards into January's
lows, so the market is currently in a so called 'free-fall' into a lower Friday close.

Weekly report out tomorrow

 

[Trembling Hand]

Can someone take that spoof out at 3320? 75 % sell at 3224. Ride the rest to 3330ish

 

[MS+Tradesim]

Can someone take that spoof out at 3320? 75 % sell at 3224. Ride the rest to 3330ish

Sorry. Can't help. Unless you know how to rout orders from the sim to the real market?

Waiting to cover at 3320 or hold for move down.

 

[Trembling Hand]

Ping, stop!

 

[Trembling Hand]

Sorry. Can't help. Unless you know how to rout orders from the sim to the real market?

Waiting to cover at 3320 or hold for move down.

Someone did but it didn't help it just got him

 

[skc]

Today seems like a good set up for a 4pm spike up. Future is trading well below fair value compared to the cash.

 

[Trembling Hand]

LOL the SPI has turned into the ES!!

 

[MRC & Co]

3300, WOW! What a nice support!

Thx Tech, I gather that was your 1000 lots?

 

[MRC & Co]

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

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

ha ha ha ha ha ha ha ha ha.

Are you serious? Do you understand what I was talking about? The fund managers ARE the ones doing this, it is TRADERS mainly from prop divisions (and others such as TH) who are trying to work out this and exploit it, to work out which way the 'paper' is going.

Fund managers need to execute? They will have traders trying to hide it. Sometimes, you will just get brokers trying to beat VWAP, and other times, you will get brokers stop markets triggered, whereby you will get a very nice spike which you can get on with lightening fast software and perhaps even cut and reverse aftewards if your quick enough.

Don't attack something you don't understand.

 

[MRC & Co]

Frankly MRC I think you'll do well scalping you have the ideal temperament.

Nice dig there.

Not sure what causes split personality, marajuana? No wonder you take a longer-term approach, ideal temperament I guess

Sorry, couldn't reply to your insults properly earlier, was too busy trading.

 

[cuttlefish]

Did knowing that 3339 was a Frank D support level influence you?

[btw: Thanks Frank D for the setup. ]

Well I'm not trading the SPI but I certainly made some good money out of that breakdown this afternoon so close to options expiry - always nice to see delta and gamma destroy theta. (or is that delta destroying gamma, or vega destroying theta ... ). Either way its

 

[wayneL]

Quickest I could post it up.
Short again.
Stop 48

Short where?

That bar was 8 points range or something.

Here is a true live call, because it calls the entry print. \/

I'll play long at 3312 stop 3311

 

[acouch]

good evening all,
well we have had a lot of replies here today,
and it is interesting to see other peoples take on the market..
but the best thing is that traders are sharing..
when i started in futs 10 years ago it was like a closed school..which i am sure that some of you can relate to...
so we have come a long way over the years, also i think these chats sites have helped traders a lot..as it can be pretty lonely watching a computer all day

but we can all have the same information, and all treat it differently.
and i think we have to respect traders in that way..

but it was a exciting day all the same, to think that so many people are actually out there
good trades and a great evening

ac

 

[MRC & Co]

DOM is just another tool to be used, which can add a big advantage at certain times.

Here is an example for you guys. Who was watching DOM today towards close?

230 lot at 298s, moved it up to 300s, before they STACKED the bids with more lots of 200+ in a row. That is a SERIOUS statement, that cannot be seen on the chart. A lot of people, made a lot of money, frontrunning that size.

40 lots for just 10 ticks with plenty to lean on, is a cool and effortless 10k in a few minutes right there.

 

[jersey10]

Here is an example for you guys. Who was watching DOM today towards close?

230 lot at 298s, moved it up to 300s, before they STACKED the bids with more lots of 200+ in a row. That is a SERIOUS statement, that cannot be seen on the chart. A lot of people, made a lot of money, frontrunning that size.

40 lots for just 10 ticks with plenty to lean on, is a cool and effortless 10k in a few minutes right there.

2 questions if i may.

1. how quickly did this happen?

2. how do you go about front running this size? do you just buy at market as soon as you see bids being stacked?

 

[MRC & Co]

2 questions if i may.

1. how quickly did this happen?

2. how do you go about front running this size? do you just buy at market as soon as you see bids being stacked?

Not exactly sure how quick, didn't take exact note, but well and truly enough time to get your orders in.

How do you frontrun it? Just place a limit order on the tick above the highest bid of 230 contracts. More conviction to do so once they up ticked (moved the size up the bid from 3298s to 3300s), showing they were well and truly prepared to take their fills, and not just spoofing and far more conviction once they loaded the bid levels below it consecutively with 200+ lots on each of the levels below. That is a statement and a half, that this particular level was being defended in the futs.

Other times in the day, you will see guys defend the stocks in a similar manner, and whilst some futs guys try to drive it's price down, if cash (stocks) is being defended, then you will see the futs fling higher. Vice-versa if at resistance.

 

[tech/a]

Here is an example for you guys. Who was watching DOM today towards close?

230 lot at 298s, moved it up to 300s, before they STACKED the bids with more lots of 200+ in a row. That is a SERIOUS statement, that cannot be seen on the chart. A lot of people, made a lot of money, frontrunning that size.

40 lots for just 10 ticks with plenty to lean on, is a cool and effortless 10k in a few minutes right there.

MRC
Thats valid.
But ofcourse to trade 40 lots you need a margin of $250,000.
How many here have that sort of margin?
Sure you could trade 10 lots or 2

I guess you and T/H are trading Opens and Closes where you get this massive volitility as its so illiquid.

While I and others like me dont wish to be involved,for the reason you do want to be involved.
Both can trade the same instrument profitably.

 

[acouch]

good morning all
as Monday is closed for Australia Day,
this will have to be Tuesdays road map
have a great weekend and take care
ac