Trading The SPI - NON-Gann Techniques

[sails]

eod chart..+ some syco
have a great evening
ac

Hi Ac, your road map worked pretty well today especially where it gave resistance at all your levels eg. 3403, then 3427 and finally the double top at 3447. Just wondering how you would trade those resistance levels? Do you get out at that point and then go back in when the market passes it again?

 

[acouch]

Hi Ac, your road map worked pretty well today especially where it gave resistance at all your levels eg. 3403, then 3427 and finally the double top at 3447. Just wondering how you would trade those resistance levels? Do you get out at that point and then go back in when the market passes it again?

yes sails, as atm on this contract..the first target gives you around 20 points upside..downside is around 30 points..and as i have said..each no is very strong..and price most of the time will reject it..before it continues up to the next no..or if you take the scalp against the trend you could find that it was the change in trend..

it of course depends on how much you want to take out of the market..you might only do one trade with multi contracts..and call it a day..
ac

 

[jersey10]

Great post Mr.C, an insightful peak into your day. Very interesting, would love to read more of it.

Cheers,


CanOz

ditto.

Not a bad memory either to recall your trading day like that.

 

[acouch]

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

 

[Trembling Hand]

Not a bad memory either to recall your trading day like that.

Interesting comment. I would think any self aware trader should be able to run through their day and how it played out?? Especially one who is glued to a screen watching ever tic.

Very interesting!

 

[acouch]

updated road map
ac

 

[James Austin]

nice work AC
do you manually draw up your median lines? or is this an FT indicator.

thanks
James

 

[acouch]

nice work AC
do you manually draw up your median lines? or is this an FT indicator.

thanks
James

no james,i manually draws these and i set this chart up at the beginning of each contract..takes me a while i must say..but it is worth it as it last for the 3 months..
working a treat

ac

 

[MRC & Co]

Well there goes the day of RIO coming off that I was waiting for. To run a short on the SPI.

How did I go, even with short conviction? Chopped to pieces!!!

 

[jersey10]

Interesting comment. I would think any self aware trader should be able to run through their day and how it played out?? Especially one who is glued to a screen watching ever tic.

What is a self aware trader?

 

[Joolean]

ac,
is this image you posted a few days ago, of range bars using floor pivots or is it something to do with median lines?
I'm reading Franks book at the mo so was just curious cos I think it's the first time I've seen you post such a chart.

Cheers,
Julian.

 

[RobinHood]

looks pretty unfortunate day for making money

Hang Seng too.

Do you find MRC&CO / TH you have to increase holding times to pull anything out of this?

 

[acouch]

ac,
is this image you posted a few days ago, of range bars using floor pivots or is it something to do with median lines?
I'm reading Franks book at the mo so was just curious cos I think it's the first time I've seen you post such a chart.

Cheers,
Julian.

no julian
that was a ft chart with range bars..
i have had ft software for about 10 years...
ac

 

[MRC & Co]

Do you find MRC&CO / TH you have to increase holding times to pull anything out of this?

Absolutely, I do.

Have to hold something onside, offside, back onside, back offside, back onside, to scratch, to onside, to nearly back to your BE point, to onside, just to get any decent runner these days it seems.

Not really a scalpers market IMO, rediculously choppy, and the squeezes these days can be 15-20 ticks, so makes it hard to buy or sell pullbacks too. More of a position traders market at the moment. Which is just a matter of altering your style a bit, but makes for far bigger equity swings which I'm not comfortable with yet.

 

[Trembling Hand]

looks pretty unfortunate day for making money

Hang Seng too.

Do you find MRC&CO / TH you have to increase holding times to pull anything out of this?

Just another day! IMO

What is a self aware trader?

Let me start with what isn't one. Someone starts with loose intentions on a trading plan ie not a real plan just some crappy ideas. Then goes about trading and blows a heap of money over a couple of weeks with out a pause for consideration of their mistakes. When its all gone they look back at the destruction of their account and see all the mistakes and broken rules. Their pathetic conclusion is "Boy I need to be more Disciplined & follow my rules" So they go about adding new "rules" or the next method and promising themselves to stick to the new way and honestly believe they will. But in the heat of the battle when they are being tested by lack of SKILLS they are literally another person and all the promised plans made in the calm out of hours action means nothing. Even worst they are NOT AWARE they have shifted persons.

A self aware trader has very specific rules or setups or previous evidence of trades working even if they cannot fully put them into words. Then approaches each day with realistic expectations and targets but adjusts them with changing conditions of the market and their P & L. He/She is AWARE of what the market is doing and what they are trying to do with that info. It fits their previous notions/experiences of market movements and therefore have a frame work on how to trade it. If not that is a trigger that they are in new territory but still they are AWARE of it.

 

[Frank D]

Just another day! IMO


A self aware trader has very specific rules or setups or previous evidence of trades working even if they cannot fully put them into words. Then approaches each day with realistic expectations and targets but adjusts them with changing conditions of the market and their P & L. He/She is AWARE of what the market is doing and what they are trying to do with that info. It fits their previous notions/experiences of market movements and therefore have a frame work on how to trade it. If not that is a trigger that they are in new territory but still they are AWARE of it.

Amen to that!!!!

 

[Joolean]

no julian
that was a ft chart with range bars..
i have had ft software for about 10 years...
ac

I was more wondering about the levels used on that chart ac. Frank uses ft, range bars and pivots in his book, so was just wondering if the levels on your chart were the same, or something else and whether they have any relation to the median lines that you use? That sentence is probably too long.

Cheers,
Jules.

 

[acouch]

I was more wondering about the levels used on that chart ac. Frank uses ft, range bars and pivots in his book, so was just wondering if the levels on your chart were the same, or something else and whether they have any relation to the median lines that you use? That sentence is probably too long.

Cheers,
Jules.

not the same as fd's on that chart....but similar in % as all fib ratio's..
in a way related to medianline, as often than not..ML's come in on fib nos as well..but the software package i use for the road map isnt ft....
ac

 

[acouch]

this is how the road map is atm..but you can see the advantage if you look at it, taking your money off at each support/resistance....
and waiting for re entry..

if you wish to continue trading..atm it is trading within the 3381/3351..range..

so range trading,,and building up a lot of energy for a break..

ac

 

[acouch]

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