Trading The SPI - NON-Gann Techniques

[professor_frink]

I've noticed the same thing while paper trading. Fade plays being one of my main strategies.

I know people fade back to S3, R3 or Cramer, but I'm going to look at the probability limits of filling gaps on opens. Has anyone previously done a similar thing?

I'll let you know when I eventually get around to it.

Cheers,
Chops.

afternoon chops,

from the data I have, day session gaps are filled the next trading day over 60% of the time.

 

[porkpie324]

I have been analysing the ASX200 CFD hourly chart, have noticed that this aproach gives some good trades, I use my own charting software for hourly data which I type in manually.
Then using the hourly chart as long term trend indicator, I then use a 3 minute chart for entry & exit positions, both long and short positions look like being profitable.
Hav'nt done any actual trades yet but anyone else trading or researching this method. porkpie

 

[Trembling Hand]

This is what I trade off.

 

[porkpie324]

OK TH I get your drift your not keen on CFD's, but my observations were around using an hourly chart as a long term trend indicator and using a 3min chart for trades.
With CFDs you can make just a dollar per pip trade, so it's a good place for a novice SPI trader to start.porkpie

 

[Trembling Hand]

OK TH I get your drift your not keen on CFD's, but my observations were around using an hourly chart as a long term trend indicator and using a 3min chart for trades.
With CFDs you can make just a dollar per pip trade, so it's a good place for a novice SPI trader to start.porkpie

Yep no problems there

 

[porkpie324]

TH having said re my last post, I do like your platform for market depth. porkpie

 

[Trembling Hand]

TH having said re my last post, I do like your platform for market depth. porkpie

One big disadvantage that you have IMO with CFDs is the lack of volume and order flow. you just don't see the buying and selling action and what is sitting in the order book.

 

[Kauri]

Over and out for the day... I think
Cheers
......Kauri

 

[porkpie324]

I have to agree TH volume & mkt depth is not there with my CFD platform, is it possible for you to name your trading platform or providor.porkpie

 

[Trembling Hand]

I have to agree TH volume & mkt depth is not there with my CFD platform, is it possible for you to name your trading platform or providor.porkpie

Yeah its http://individuals.interactivebrokers.com/en/main.php
If you have an account with them ASX data is $40 per month and SFE data free!
I used to get the data from Bourse data but its bloody expensive.

 

[Kauri]

May be a short coming up???
Cheers
.....Kauri

 

[porkpie324]

Many thanks TH will check them out, porkpie

 

[Trembling Hand]

May be a short coming up???
Cheers
.....Kauri

Yep I'm with you I got short right on that peak.
I had to help a delivery man bring in some new chairs. Lucky I probably would of taken a bit off the trade had I been watching it.

So now that I'm getting greedy watch it run back up

 

[professor_frink]

how do you find booktrader TH?

I thought you used ninja? You posted a chart in one of the other threads that was done by ninjatrader, or was that someone else

 

[Trembling Hand]

how do you find booktrader TH?

I thought you used ninja? You posted a chart in one of the other threads that was done by ninjatrader, or was that someone else

Nah I do but I'm having some real IT issues today and yesterday. Having trouble with the Ninja to IB connection as well as other things. You know when 1 thing stuffs up it all does. IB's Booktrader is OK just a bit to clunky. IB's charts are rubbish.

 

[porkpie324]

MACD divergance on the 3 min chart, but hourly chart still indicating long positions, unless of course hourly chart trend changing.porkpie

 

[professor_frink]

Nah I do but I'm having some real IT issues today and yesterday. Having trouble with the Ninja to IB connection as well as other things. You know when 1 thing stuffs up it all does. IB's Booktrader is OK just a bit to clunky. IB's charts are rubbish.

Yeah their charts a pretty poor. You could try using quotetracker for back up charts if you're having probs with ninja. Doesn't have a DOM though. Another option is Quotetrader- is meant to be pretty good too.

 

[Trembling Hand]

Yeah their charts a pretty poor. You could try using quotetracker for back up charts if you're having probs with ninja. Doesn't have a DOM though. Another option is Quotetrader- is meant to be pretty good too.

Thanks. the charts are still working but the orders are doing some real dodgy stuff. Getting lost somewhere between IB and the exchange. Of course the first thing IB says is that its the Ninja but same crap with TWS.
Spent 4 hours last night calling the States trying to get it fixed!!

Our little short is working so far thinking I will cover most of it 10 points lower......... if given the chance.

 

[Kauri]

Our little short is working so far thinking I will cover most of it 10 points lower......... if given the chance.

Hi TH,
I'm following my stop closely now, in case of a W1 or A ...
Cheers
...Kauri

 

[Trembling Hand]

Hi TH,
I'm following my stop closely now, in case of a W1 or A ...
Cheers
...Kauri

Covered most now. got a little left just as a see "what happens".