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Trading The SPI - NON-Gann Techniques

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For you full timers,

can you give some insight on any correlations (if there are any) between the spi and other index's/equities you might look at, either eod or intraday, that would actually impact your trading and how?
I.e. Are there any divergences you keep an eye on? Where certain markets closed overnight? Volume levels etc. I've seen mention of other index's from time to time but can't remember any specifics.

I'd like to focus my attention as much as possible on things that actually have an impact on the spi. I have eod futures for several markets but would buy more intraday data for certain index's if they're worth looking at.

I'm only simulation day trading and in the learning process just trying to look at as much information as I can each time to base decisions on. It's great fun while I'm not losing real money. :D

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

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nice work AC.

could you please give an example as to how "you" use LIS.

i am thinking something like a 10pnt stop on other side of LIS,
entry at 10pnts within LIS or as close as possible,
where is profit take?

any stats on LIS? success, failure rates of the indicator?
 

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James Austin said:
nice work AC.

could you please give an example as to how "you" use LIS.

i am thinking something like a 10pnt stop on other side of LIS,
entry at 10pnts within LIS or as close as possible,
where is profit take?

any stats on LIS? success, failure rates of the indicator?
Click to expand...

morning james,
i find it it drops,or goes above LIS 10 points it will want to test the next no..
these nos are all support and resistance, and are all strong nos..once hit they will try and hold price..unless in a very strong trend....
profit taking would be taken at these nos....and on a retest you can re enter with the trend once again..
no stats on LIS i am afraid..i am not that advanced, i will leave to you guys that are a lot smarter than me in that field..

i have also noticed..that it can test one/ two nos above/below lis..then reverse the trend...
have a great day
ac
 
Cartman, every trader has his own style. None really build positions throughout the day, unless they are trying to ride a trend and have conviction that the day will trend. But that is rare. They are usually in and out all day long and some don't even trade the post cash period.

It's completely discretionary, no way I have found of really knowing what the close will do.

Barney, yeh, you may want to check out OI (Open Interest) as to how many positions are closed before the days end. Other than that, a high volume day usually means some institutions are in there doing some longer-term business, which will bring the traders out of the woodwork, and they will try do a lot of round trips and put on some more size, to take more winnings out of it. So they sort of go hand in hand. A day where it is dead and no institution is in sight, you just get caught in cat and mouse games, so it's better to limit your trading on those days. You end up just doing round trips for little reward. Risk:reward becomes poor IMO.

Joolean, for trading SPI, you probably need to be watching what the leading stocks are doing, I also keep up a chart of the entire cash index, the Nikkei, Hang Seng, and S&P. Sometimes you can find correlations, like SPI may slightly lag Nikkei for a while, other times, when other markets go, SPI will take a while to catch on, but lately, the SPI has actually been leading, pre-empting where Asia will go, or simply going the other direction (like the day when BNB went into admin), which can make it even trickier. Like anything, sometimes it works, sometimes it doesn't and knowing and applying the difference is the key. Having these charts up can sometimes just add to your conviction and other times, it can completely rape you when the SPI wants to do it's own thing.

Again, just my opinions and observations.
 
LIS worked well this morning AC.

some questions please:

if pre-open price is above LIS, is the expectation that LIS "may" act as support today?


if pre-open price is below LIS, is the expectation that LIS "may" act as resistance today?


assuming long around 431, is the first exit signal today (Mon 2/2) 3453?; as noted on saturdays chart.
 

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James Austin said:
LIS worked well this morning AC.

some questions please:

if pre-open price is above LIS, is the expectation that LIS "may" act as support today?


if pre-open price is below LIS, is the expectation that LIS "may" act as resistance today?


assuming long around 431, is the first exit signal today (Mon 2/2) 3453?; as noted on saturdays chart.
Click to expand...

Yes James,

that is correct, after the exit of 53..price went to 62..but rolled over to take the 38..then once again rallied up to the 53.. where it staggered again..till it broke the 62, and now it has came back down again and tested the 54..before looking for upside..the 53 has been great support/resistance today
ac ;)
 
acouch said:
Yes James,

that is correct, after the exit of 53..price went to 62..but rolled over to take the 38..then once again rallied up to the 53.. where it staggered again..till it broke the 62, and now it has came back down again and tested the 54..before looking for upside..the 53 has been great support/resistance today
ac ;)
Click to expand...

acouch,

What is LIS? And how is it calculated?


thanks
 
AlterEgo said:
acouch,

What is LIS? And how is it calculated?


thanks
Click to expand...

Hello alterego..



LIS stands for line in sand..it basically tells you the trend for that day..above is for longs, below is for shorts..
how it is calculated..that i dont know how to explain..as i have been trading with pitchforks for a long long time..and the road map is my setup..and i just know every morning..where it goes..and from there comes the support/resistance nos....
but if you use pitchforks you will find how often they fall into fib nos..
sorry i cant explain it any better,teaching isnt one of my best traits..
ac;)
 
From what i can gather a 1% interest rate cut has been priced in. Is anyone going to have a specific trading strategy for tomorrow's interest rate announcement? What strategy are traders going to employ? Is it a viable opportunity to make a good profit or is it a lottery? How is the SPI likely to respond to an interest rate cut more or less than 1%?
 
good morning all,
this is yesterday's road map for you to have
a look at..just before close..
worked well once again
ac;)
 

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

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nice AC, an easy 20pnts

on this occassion your LIS matched dilernias R44 support = increased confidence to take the trade

james
 

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SPI Weekly and 5-day pattern

SPI PLAY:- "SPI moves into 3488 and the Spiral top,
but reverses down and moves back into 3457 (5-day 50% level).
The trend guide would be then based on this level(3457) for any
higher moves on Tuesday.

Note:- If this pattern plays out then the SPI could continue higher towards 3533.

Therefore my ideal pattern would be to trade longs upwards and
exit, and then look for any patterns from 14:30 onwards if the SPI is going
to continue higher"

Reserve bank expected cut in rates of 1% today around 14:30, therefore the market could be flat until then"

I'm factoring higher prices today, but because it's below the Weekly
50% levels, I think it's going to go flat until rate news around 14:30,
with potential move upwards towards 3512 and as high as 3533.

Note:- if it reverses down from the Weekly 50% level and begins
trading below 3457, then it's a different ball game.
 

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jersey10 said:
From what i can gather a 1% interest rate cut has been priced in. Is anyone going to have a specific trading strategy for tomorrow's interest rate announcement? What strategy are traders going to employ? Is it a viable opportunity to make a good profit or is it a lottery? How is the SPI likely to respond to an interest rate cut more or less than 1%?
Click to expand...

what's that saying?,
buy the rumour (seems to be playing out),
sell the fact (still to see)
 
acouch said:
Hello alterego..



LIS stands for line in sand..it basically tells you the trend for that day..above is for longs, below is for shorts..
how it is calculated..that i dont know how to explain..as i have been trading with pitchforks for a long long time..and the road map is my setup..and i just know every morning..where it goes..and from there comes the support/resistance nos....
but if you use pitchforks you will find how often they fall into fib nos..
sorry i cant explain it any better,teaching isnt one of my best traits..
ac;)
Click to expand...

Ok, thanks AC.
 

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