Trading The SPI - NON-Gann Techniques

[>Apocalypto<]

course not Trade_It!!

looks like CMC are showing the XJO contract then I guess - never quite sure as it tends to skew (I am using the UK spreadbet contract). Out of interest how are you guys findign the CFD product in terms of how closely does the price track XJO and whats speed of execution like during market hours? and does it trade "24 hrs"? (sorry too lazy to look it up myself!)

ta in advance

Glad I could be of assistance Elwood.

It is very close to the real XJO price but it there are varriations time to time.

sanford XJO 5932.3 +9.1
IG aussie 200 5934 +4.1

but most the time they are on the money only part that buggers me trading it from the normal xjo to the Aussie200 is during the night it can move why back or spike so it is very hard to place stops either way i am now looking at trading the 10-4 xjo on Pacific and trading the Aussie200 forwards aka SPI on IG.

main advantage of the spi and aussie200xjo mini is no brokerage all u pay is 350 per contract and you recive 5$ a tick but u face a 3 point spread so your 3 down on the get go.

It does piss me off alot that IG wont show u any volume or OI volume on the SPI aussie200XJO or any other indexes

Frink and others are you guys now also on the JUN contract for the SPI?

trying to see how close they are. But seems like they are on the money with there forwards contract.

 

[Edwood]

i find the fills on cmc to be pretty quick 1-2 seconds, except during big announcements during the US session, where you can quite often get requoted.

thanks wiseguy - good to know! fills on the UK product can be pretty bad, have only kept with it cos profits are tax free but have had enough hence the move to IB. Might look at a CFD account too for out-of-hours stuff

 

[professor_frink]

Glad I could be of assistance Elwood.

It is very close to the real XJO price but it there are varriations time to time.

sanford XJO 5932.3 +9.1
IG aussie 200 5934 +4.1

but most the time they are on the money only part that buggers me trading it from the normal xjo to the Aussie200 is during the night it can move why back or spike so it is very hard to place stops either way i am now looking at trading the 10-4 xjo on Pacific and trading the Aussie200 forwards aka SPI on IG.

It does piss me off alot that IG wont show u any volume or OI volume on the SPI aussie200XJO or any other indexes

Frink and others are you guys now also on the JUN contract for the SPI?

trying to see how close they are. But seems like they are on the money with there forwards contract.

yep- June is the one to watch.

 

[CanOz]

The ASX200 is trying hard to push higher, with two good trys this morning. Keeps retesting 5930.

 

[>Apocalypto<]

yes it has breaks. It's open from 9:50am-4:30pm, then reopens at 5:10pm. It shuts again at 7, or 8 am, depending on U.S daylight saving.

contract specs for SFE products here http://www.sfe.com.au/content/sfe/trading/con_specs.pdf

No dealing spread, that's a CFD thing.

ok so IG are 100% on the Forwards contract? Great to hear thanks Frink.

 

[>Apocalypto<]

thanks wiseguy - good to know! fills on the UK product can be pretty bad, have only kept with it cos profits are tax free but have had enough hence the move to IB. Might look at a CFD account too for out-of-hours stuff

Fills on IG take about 1-3 seconds and the sells are done around the same time just it can take a while to get the damn order section open sometimes when u hit deal or close!

 

[>Apocalypto<]

Guys

Looks like I will join the SPI club

my thoughts on SPI aussie200 Forwards.

I am using a 4hour 1 month time frame still short term but not wild intraday short term.

Support found above 5950 still in a downward move with a descending triangle Bearish continuation pattern.

wait on break of support short trade. lagging indicators are also showing strength on the buying side but price yet to confirm a long trade.

please Guys let me know what you thought of my analysis and time frame.

Frink from what you have seen, do most the mayor moves on the SPI happen during the day?

 

[professor_frink]

Guys

Looks like I will join the SPI club

my thoughts on SPI aussie200 Forwards.

I am using a 4hour 1 month time frame still short term but not wild intraday short term.

Support found above 5950 still in a downward move with a descending triangle Bearish continuation pattern.

wait on break of support short trade. lagging indicators are also showing strength on the buying side but price yet to confirm a long trade.

please Guys let me know what you thought of my analysis and time frame.

Frink from what you have seen, do most the mayor moves on the SPI happen during the day?

It can move quite a lot overnight, but will do it on smaller volume.

For swing trading, a 4 hour chart is fine- whatever you feel comfortable with

There doesn't appear to be anything wrong with your analysis. Personally, I still think we have plenty of room to fall, but not much potential for upside, so I'd be looking for swings to the shortside.

 

[Edwood]

Guys

Looks like I will join the SPI club

I am using a 4hour 1 month time frame still short term but not wild intraday short term.

Frink from what you have seen, do most the mayor moves on the SPI happen during the day?

Good move Trade_It - it makes for good trading! For me just looking at 4 hrs would be too long, I have 1min, 5min, & 1hr charts up, but also go out to daily & weekly to look at overall action. But it depends how much time you have to sit in front of the screen. The gap opens on ASX are definitely worth getting into, and imo its worth swing trading out of hours, on smaller position size

 

[>Apocalypto<]

Good move Trade_It - it makes for good trading! For me just looking at 4 hrs would be too long, I have 1min, 5min, & 1hr charts up, but also go out to daily & weekly to look at overall action. But it depends how much time you have to sit in front of the screen. The gap opens on ASX are definitely worth getting into, and imo its worth swing trading out of hours, on smaller position size

i am yet to really nail a good system on the 1min 5 min charts still fine tuning it

indicators are hard to use in those time frames any pointers guys?

i do use lines and MA's but still working out best MA combo with the lines

Frink on the daily aussie200 I am back to a long position as long as it stays above 5899 support. plus dow futures are up 46 to add to my thinking.

 

[Edwood]

i am yet to really nail a good system on the 1min 5 min charts still fine tuning it

indicators are hard to use in those time frames any pointers guys?

i do use lines and MA's but still working out best MA combo with the lines

Frink on the daily aussie200 I am back to a long position as long as it stays above 5899 support. plus dow futures are up 46 to add to my thinking.

well let us all know when you find it!!

bollies are good if its range-bound, otherwise simple action around an MA for me. but overall I would say that ASX likes to trend - so once its made up its mind where its going it will often go in that direction for the rest of the day so don't try to go against it, even if its levelled out as it will often continue the trend late in the session.

all the best!

 

[professor_frink]

i am yet to really nail a good system on the 1min 5 min charts still fine tuning it

indicators are hard to use in those time frames any pointers guys?

i do use lines and MA's but still working out best MA combo with the lines

Frink on the daily aussie200 I am back to a long position as long as it stays above 5899 support. plus dow futures are up 46 to add to my thinking.

Good luck on the long TI, hope it works out for you

Looking for MA based ideas hey-

http://www.trading-naked.com/FloorTraderMethod.htm

That article should be able to give you an idea on how they can be used intraday.

 

[>Apocalypto<]

Thanks alot for the help and info Guys

To tell the truth I have failed very badly trading on the intra day.

lost a 1000 on the mini's since Jan but on the Daily and weekly trades I do quite well.

Intraday is so damn fast i will have a good look at the link frink

 

[Edwood]

heres a look at todays action on my 1min chart Trade It - lots of signals for longs, & adding to longs

 

[caribean]

Hi Prof.Frink, i'm with you ,i think 5375 is my target area, though at this moment i can't trade the SPI futures (between brokers), call & put options my only instrument...

 

[Edwood]

To tell the truth I have failed very badly trading on the intra day.

prob best to stick with what works then Trade_It & don't put money on intra-day until you get a strategy that you know works.

also its worth keeping a log - I mark up my charts in real time as the signals play out, including entries & when I close the number of points gain or loss & take a screen shot at the end of every day. means I can go back & see what the action was like, how I traded it and how it could be improved

 

[Edwood]

might have our short entry opportunity soon Prof - have seen a couple of counts floating around suggesting we were in 4 and now in 5 on this retrace

 

[professor_frink]

might have our short entry opportunity soon Prof - have seen a couple of counts floating around suggesting we were in 4 and now in 5 on this retrace

Just opened a short @ 35 looking for a swing down Ed We've hit some resistance @ 40, recent run up looks way too steep.

 

[Bronte]

We are with you prof.
Sold 6036

 

[professor_frink]

We are with you prof.
Sold 6036

You just looking at an intraday swing Bronte or something a bit longer?