Australian (ASX) Stock Market Forum

Trading The SPI - NON-Gann Techniques

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jersey10 said:
hasn't it been doing that a lot lately. moving up sharply in the morning, making a double or triple top type thing and then selling off strong for the rest of the day?
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Sometimes, others it will keep going through the highs like the 23rd.
 
Looking at Go Markets as a possible back up for the SPI when IB falls over. Does anyone know if Go Markets handled the power outage in Sydney OK today?

Otherwise - any suggestions?
 
good morning all
today's road map
have a great day and good trades
ac;)
 

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sails said:
Looking at Go Markets as a possible back up for the SPI when IB falls over. Does anyone know if Go Markets handled the power outage in Sydney OK today?

Otherwise - any suggestions?
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Yep They were fine. As far as the CFDs go they are my pick. Market prices and market spread.

Mr J said:
Always seems to be a trade at 9:50 :).
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Sorry? what do you mean always a trade at 9:50?
 
sails said:
Thanks, TH. Any reason you chose CMC over Go to partially hedge yesterday?
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Ok stick with me,

I have been with CMC since 2003. I pretty much know them inside and out :D
I have thought about moving on as they don't give me very quick executions anymore :D But I like the fact that they still took shorts on ALL stocks when the ASX banded shorting.

In 07 the SPI closed for an hour or two to fix a fault and I was long 4. Once the SPI was out the market went silly without the supporting BOTs and fundies not able to hedge. the XJO dropped about 150 points while I was long 4:eek:. CMC saved my **** because i shorted the hell out of their XMJ & XFJ index as a hedge. I actually made money.

Something I couldn't of done with IB or the other CFD providers a couple of months ago. By the way I have accounts with ig as well but the margins are smaller with CMC so its better having them my main backup with less funds sitting around doing nothing for a year :(
 
Trembling Hand said:
Ok stick with me,

I have been with CMC since 2003. I pretty much know them inside and out :D
I have thought about moving on as they don't give me very quick executions anymore :D But I like the fact that they still took shorts on ALL stocks when the ASX banded shorting.

In 07 the SPI closed for an hour or two to fix a fault and I was long 4. Once the SPI was out the market went silly without the supporting BOTs and fundies not able to hedge. the XJO dropped about 150 points while I was long 4:eek:. CMC saved my **** because i shorted the hell out of their XMJ & XFJ index as a hedge. I actually made money.

Something I couldn't of done with IB or the other CFD providers a couple of months ago. By the way I have accounts with ig as well but the margins are smaller with CMC so its better having them my main backup with less funds sitting around doing nothing for a year :(
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Thanks for the detailed explanation - I'll have another look at CMC... :)
 
Sails,

one thing worth considering is CMC love to requote. So in fast moving index trading this means slippage in and out.

I dont know how TH gets around this, nor why be puts up with it.
VIP at CMC perhaps??

JA
 
James Austin said:
Sails,

one thing worth considering is CMC love to requote. So in fast moving index trading this means slippage in and out.

I dont know how TH gets around this, nor why be puts up with it.
VIP at CMC perhaps??

JA
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Thanks for the info, James! I am using IB as a primary broker for the SPI so any back-up bucket shop won't be used much. In case of emergency, the slippage is just a fact of life.

I'm still mainly using the IB demo (not that good at SPI trading yet :D), but for live trades, I think it's important to have a secondary means of hedging on the rare occasions IB goes down and everything else is trading normally - as it did yesterday. Reading Bronte's posts yesterday, it looks like stops are only held on IB's servers, so if IB goes down, the stops will not be sent to the exchange.
 
Reading Bronte's posts yesterday, it looks like stops are only held on IB's servers, so if IB goes down, the stops will not be sent to the exchange.
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They are, which is why altering them and resending does not lead to a "cancelled trade". I assume the stops will be sent once IB comes back online, so you would probably have to be ready to hedge that as well.
 
Trembling Hand said:
By the way I have accounts with ig as well but the margins are smaller with CMC so its better having them my main backup with less funds sitting around doing nothing for a year :(
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If your funds are just sitting there stagnating, perhaps look into entering a carry trade. You can get 11% p.a. on the jpy/brl cross (not including the 100:1 leverage);)
 
The bounce came, but I didn't wait for it. Like yesterday, I decided to go to the shops rather than waiting for the trade. 130 points of grocery bills over the last two days :eek:.
 
Mr J said:
The bounce came, but I didn't wait for it. Like yesterday, I decided to go to the shops rather than waiting for the trade. 130 points of grocery bills over the last two days :eek:.
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Yeh, I was looking for that bounce too, coming out of that range, we were too low and there was good support there. Got so fed up after the lackluster, thin (Nikkei shut) day, sitting there waiting for ANY good set-up that never came, that I left.

Just got home and turned on my charts. :mad::mad::mad:
 
good morning all
today's road map
have a great day and good trades
ac;)
 

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