Trading The SPI - NON-Gann Techniques

[spitrader1]

Did I miss some major news or something today

That was one mighty impressive selloff. Can't say that I've seen this beast selloff from the weekly pivot down to R2 in one day before

professor nothing major, but there were some big names ex-div including MBL, ORI and RIN

 

[professor_frink]

professor nothing major, but there were some big names ex-div including MBL, ORI and RIN

Oh ok then. I thought Telstra might have something to do with it, but what would I really know

I suppose it doesn't really matter in the end.

I'm going to go get that R7 I had my eye on tomorrow

 

[Euler]

How'a the MP going this week Euler? Be interested to hear what your thoughts have been for the last couple of days.

Prof .... have focused on getting a handle on MP, hence no posts {also was got tired of posting to myself .. lol .. ie no-one else seemed interested in my ramblings on MP}. However am very impressed with the POC and bracket values given by MP over the last approx. week.

Mon 13/11 no trades as I still working through it.
Tues 14/11 1 trade for +2 ... ok getting the hang of it.
Wed 15/11 no trades.
Thurs 16/11 1 trade for a very good return.
Fri 17/11 3 trades .... one small return, 2 trades v.good.
Mond 20/11 1 med trade and 1 whopper!!

The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell.

So far I have found MP simple to use, and it has logic supporting the application. Even at this early stage, and am slowly building on my knowledge, I have a good level of confidence in the application.

The aim is to have a plan that results in a good return for your effort. If MP works for you then go for it. If you have another method that works then also go for it.

 

[wayneL]

I'm going to go get that R7 I had my eye on tomorrow

R7!

I must look up what s level the markets went to in 87.

s500? hah!

 

[professor_frink]

Prof .... have focused on getting a handle on MP, hence no posts {also was got tired of posting to myself .. lol .. ie no-one else seemed interested in my ramblings on MP}. However am very impressed with the POC and bracket values given by MP over the last approx. week.

Mon 13/11 no trades as I still working through it.
Tues 14/11 1 trade for +2 ... ok getting the hang of it.
Wed 15/11 no trades.
Thurs 16/11 1 trade for a very good return.
Fri 17/11 3 trades .... one small return, 2 trades v.good.
Mond 20/11 1 med trade and 1 whopper!!

The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell.

So far I have found MP simple to use, and it has logic supporting the application. Even at this early stage, and am slowly building on my knowledge, I have a good level of confidence in the application.

The aim is to have a plan that results in a good return for your effort. If MP works for you then go for it. If you have another method that works then also go for it.

Good stuff mate- I think that if you were working on setups that required conditions like Thurs, Fri and today to make a profit, then you could be in trouble. I don't think any kind of level trading needs that
You'll probably get a good idea of how well you can use it when we get some lower ranges intraday.
Glad to hear it's going well for you

 

[professor_frink]

R7!

I must look up what s level the markets went to in 87.

s500? hah!

I think the R7 will be quite helpful for days when things just don't quite work

No better way to work off the anger than to belt the **** out of something!

 

[Euler]

You'll probably get a good idea of how well you can use it when we get some lower ranges intraday.

Agree ... and that was my point in relation to my comment ... "The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell."

 

[wayneL]

I think the R7 will be quite helpful for days when things just don't quite work

No better way to work off the anger than to belt the **** out of something!

Oh Oh! hahahah! I completely misunderstood.

Golf is a game whose aim is to hit a very small ball into a even smaller hole, with weapons singularly ill-designed for the purpose.

Though even Winnie would admit that the weapons of today less "ill-designed".

Even shanks go further... the wrong way

Do they come with unbreakable shafts these days

 

[spitrader1]

Oh Oh! hahahah! I completely misunderstood.



Though even Winnie would admit that the weapons of today less "ill-designed".

Even shanks go further... the wrong way

Do they come with unbreakable shafts these days

no matter how tought the shafts are, somone such as myself after 3 balls dissapear into the lake can still manage to, in a manner that gives significant gratification, snap it around the closest willow.

 

[professor_frink]

Agree ... and that was my point in relation to my comment ... "The issue is whether another method would have produced similar or better results, or whether the market conditions are just right to produce good returns. Time will tell."

I think this probably should determine if you use it long term or not-

I have a good level of confidence in the application.

IMHO, having methods that you are comfortable with, is probably more important than if it is a star performer or not. Basically any tool could have picked up alot of points the last few days- very few of which I would be comfortable using over any length of time.

Do they come with unbreakable shafts these days

Now that wouldn't be much fun, would it

no matter how tought the shafts are, somone such as myself after 3 balls dissapear into the lake can still manage to, in a manner that gives significant gratification, snap it around the closest willow.

You'd fit in well at any golf game my friends and I played. If it were me, the broken club would be in the lake with the balls

 

[wayneL]

ROTFLMAO.

I see we all speak the same (body) language here.

 

[Euler]

MP POC @5300 entry @ 5310 on 5min chart now trailing stop sitting at 5325. As I write it is moving higher so t/s will move accordingly.

 

[professor_frink]

MP POC @5300 entry @ 5310 on 5min chart now trailing stop sitting at 5325. As I write it is moving higher so t/s will move accordingly.

A point of the opening low- impressive
I don't think this rally we are having this morning can last(surefire buy signal for everyone else ).
On the sidelines at the moment.

 

[Euler]

A point of the opening low- impressive
I don't think this rally we are having this morning can last(surefire buy signal for everyone else ).
On the sidelines at the moment.

Maybe risk was high, but on 5/15 min chart the indication was a move up and given it had taken off the POC it was worth the risk. Trailing stop now taken out @ 40.

PS .. I'm using chart incl SYCOM data to trade this

 

[professor_frink]

Maybe risk was high, but on 5/15 min chart the indication was a move up and given it had taken off the POC it was worth the risk. Trailing stop now taken out @ 40.

PS .. I'm using chart incl SYCOM data to trade this

Well done sir!
I think the risk was very high....when I posted. An entry at 5000-5010 like you and I would have been more inclined to take it, but I wasn't really on the ball this morning, and missed an entry at that level
Think I might come back for a look after lunch

 

[Euler]

Well done sir!
I think the risk was very high....when I posted. An entry at 5000-5010 like you and I would have been more inclined to take it, but I wasn't really on the ball this morning, and missed an entry at that level
Think I might come back for a look after lunch

I did have a stop-loss just below the 5300 level just in case it wanted to kick back . I was also slow and wanted to get in a little earlier but trigger finger froze.
Now clean till see how it pans out.

 

[Euler]

Out of interest ... calculating the POC with this am price gives POC now @ 5327. Want to watch how price now reacts around that level. Part of the learning the A-B-C's for me!!

 

[professor_frink]

Out of interest ... calculating the POC with this am price gives POC now @ 5327. Want to watch how price now reacts around that level. Part of the learning the A-B-C's for me!!

At what time in the morning do you have that number? Having that by 11am today would have turned out to be quite useful

 

[Euler]

At what time in the morning do you have that number? Having that by 11am today would have turned out to be quite useful

The figures are calculated on the 30min bar high-low. So it would have been available 11.01am. And, today it tested that value on the nose ... and went to hit 60.
I was advised that the intraday POC should not be relied upon until it has "matured" .. ie use it in the after lunch session. But I'm not sure ... hence the reason for looking to see how it behaves and if it behaves this way reliably.

 

[professor_frink]

The figures are calculated on the 30min bar high-low. So it would have been available 11.01am. And, today it tested that value on the nose ... and went to hit 60.
I was advised that the intraday POC should not be relied upon until it has "matured" .. ie use it in the after lunch session. But I'm not sure ... hence the reason for looking to see how it behaves and if it behaves this way reliably.

Sweet