Trading The SPI - NON-Gann Techniques

[Trembling Hand]

I have an outstanding gap around 8 pts lower than the LOD, would like to see that hit really, but reasonable chance of some retrace now

Edwood from what date is that gap? That would also make for a bounce off the 50 day MA

 

[Edwood]

I make that gap Thurs last week Trembling Hand - I'm only looking for intra-day moves tho i.e., any bounce could be short lived

 

[Edwood]

Thursdays gap closed in o/night session, lets see if we can close it during normal hours today

(sent you a PM Trembling Hand)

 

[Edwood]

gap closed then, looking a bit oversold now and a big gap about 90 points above us - any takers?

 

[professor_frink]

gap closed then, looking a bit oversold now and a big gap about 90 points above us - any takers?

What on earth just happened? went out to get some breakfast, come back and it's lost 50 pts

 

[professor_frink]

Next support level for the SPI, now that it's finally broken down below 6320 is roughly 6180

Not that I'm really expecting it to get that far today!

 

[Edwood]

doh closed short too soon

hey Prof - not sure what happened, pretty impulsive tho

 

[Seaking]

I've been working on an EOD system for a while now, back testing, forward testing and everything look's good. It is a day only system that buys the open, has both a max loss and profit stop and exits MOC if still alive.
Today I felt ready to live trade it, went long the open and what a quick trade it turned out to be...

 

[Edwood]

I've been working on an EOD system for a while now, back testing, forward testing and everything look's good. It is a day only system that buys the open, has both a max loss and profit stop and exits MOC if still alive.
Today I felt ready to live trade it, went long the open and what a quick trade it turned out to be...

oops! sorry to hear that Seaking

we might just be catching up on US & European correction, Aus has managed to hold up pretty well so far

 

[Seaking]

oops! sorry to hear that Seaking

we might just be catching up on US & European correction, Aus has managed to hold up pretty well so far

Thanks Edwood. I'm happy with what I have come up with so today is just trade 1 of a whole heap more I hope.
I think you are correct about the catch up..

 

[professor_frink]

I've been working on an EOD system for a while now, back testing, forward testing and everything look's good. It is a day only system that buys the open, has both a max loss and profit stop and exits MOC if still alive.
Today I felt ready to live trade it, went long the open and what a quick trade it turned out to be...

morning Seaking,

sucks when stuff like that happens Hope the next trade works out a little better

If you don't mind me asking, what kind of stats have you found when designing this kind of system? win rate, Max DD, etc??

It's an area I'm a bit curious about, and wouldn't mind going down that path myself(if I can find the time to build a system)

 

[Seaking]

morning Seaking,

sucks when stuff like that happens Hope the next trade works out a little better

If you don't mind me asking, what kind of stats have you found when designing this kind of system? win rate, Max DD, etc??

It's an area I'm a bit curious about, and wouldn't mind going down that path myself(if I can find the time to build a system

The stats for this system for the last 130 trades which is just over a year are
Max system DD - 13.68%
Win rate - 62%
Win/Loss - 1.51/1

These stats are using max slippage and would be what I expect to be worse case.

 

[professor_frink]

[morning Seaking,

sucks when stuff like that happens Hope the next trade works out a little better

If you don't mind me asking, what kind of stats have you found when designing this kind of system? win rate, Max DD, etc??

It's an area I'm a bit curious about, and wouldn't mind going down that path myself(if I can find the time to build a system)

The stats for this system for the last 130 trades which is just over a year are
Max system DD - 13.68%
Win rate - 62%
Win/Loss - 1.51/1

These stats are using max slippage and would be what I expect to be worse case.

Very nice Seaking. Thanks for that.

Good luck with it in the future

 

[Seaking]

It actually has better results with no stoploss at all, but I'm not going there...
The profit stop was put in to take better advantage of the candle tails and improved the results.

 

[Seaking]

Very nice Seaking. Thanks for that.

Good luck with it in the future

Thanks mate

 

[Trembling Hand]

What on earth just happened? went out to get some breakfast, come back and it's lost 50 pts

Boy wasn't that fun
I never do well in drops like that even if I was short, which I wasn't, I cover to soon. And then by the time I get into a decent long on the bounce like is happening now its only to get back some of the lost ticks. I went long three times then!!!

 

[Trembling Hand]

It actually has better results with no stoploss at all, but I'm not going there...
The profit stop was put in to take better advantage of the candle tails and improved the results.

I have been looking at similar systems trades and i have also found trades that give better results without stops. The big problem with this is that you never know if that pattern is about to change.

 

[hacheln_mice]

Boy wasn't that fun
I never do well in drops like that even if I was short, which I wasn't, I cover to soon. And then by the time I get into a decent long on the bounce like is happening now its only to get back some of the lost ticks. I went long three times then!!!

This is what happened. I think it'll blow over by the day's end.

 

[Trembling Hand]

This is what happened. I think it'll blow over by the day's end.

Nah!

 

[Trembling Hand]

What happened was a classic cascading waterfall. As the option Market Makers press lower to take out the expiring option today Idiots like myself buy lows looking for bounces the Bears press a little bit more take out lows we have to sell into a falling market making new lows that trigger more stops that take out new lows etc etc.