Trading The SPI - NON-Gann Techniques

[julius]

arrr she be slow this mornin'

might need to wait till after lunch before things pick up

 

[Trembling Hand]

arrr she be slow this mornin'

might need to wait till after lunch before things pick up

Slow. There is nothing.

Whats going on? Shorts not covering. No one chasing this strength. :sleeping:

 

[julius]

I'm too bloody impatient when it gets like this...

Tried to short the open twice this morning, stopped -4 both times

On a plus side, my system went long @ 5696, exitted @ 5708, (only testing atm)

 

[julius]

might be a decent short set up here at 5730...see what happens

 

[julius]

bogus...no weakness

 

[Trembling Hand]

i'm too bloody impatient when it gets like this...

I was going to add now that i have posted about it being sleepy from past calls its likely to explode. and yep there she goes 50 points in 20 mins

 

[Trembling Hand]

might be a decent short set up here at 5730...see what happens

In strength like that you need at least a lower low to get short. Runs like that when the Big guys are hitting the Ask 2 or 3 points above the market can run much further than you normally predict.

You end up feeding yourself a whole head of pain.

 

[IFocus]

Hi acouch

Just waded though the thread reading your posts have been meaning to do it for a while, thanks for all the charts and posts.

I have been a long time user of ML's after running into Tim Morge vis NQoos but have never managed to use them to enter positions only to frame trends and confirm exits. Have watched Tim Morge but I am simply not at that level like you said great guy.

I was hoping you could explain how you use ML's in your trading of the SPI to assist your discission to enter / exit positions / maybe give a trade example real or pretend would be good.

Would really appreciate any insight thanks

Also thanks to all the other contributers to thread nice to read though an ego free zone.

Focus

 

[Trembling Hand]

Text book trading. even if you have a inclination to trade against the trend.

 

[Freddo]

I stick to regular business hours myself- she's pretty thinly traded after hours. Back in the old thread, Freddo would have orders going off after hours, but he was more of a swing trader. Currently the spread is out to 3 pts already(54/57) and there is only 1 contract offered on either side.

If you are interested in getting some action at this time of the day, the Hang Seng is still open in our region.

I heard someone mention my name so I'm back !

I don't use swing trading these days !
Where I have I been? The "death/bermuda" (as WayneL calls it) contract nearly got me and that was using swing trades. I am not saying swing trades don't work it just that the SPI moves ALOT more these days then it used to and it broke my money management.

Fortunately my second system has proven to be robust enough and actually given me more profit in these more volatile and larger range days.

I still use Sycom, I some times use it to enter, take a profit , take a loss.
I do not use Sycom for analysis. I did look at using a combined day and night session chart but didn't put too much time into it.

How good have these Gap days been?
Didn't get a trade away today because the Gap didn't close but Monday and Tuesday were rippers !

 

[Freddo]

I have a system based on ranges which has been paper trading well and it gave a signal to go long at the close it does not use a Stop Loss on Sycom.

I also have me a signal to go long on 21/2/2008 but would have seen me get stopped out on 22/2/2008.

 

[julius]

Freddo I also have a system based on ranges which uses no stops...

What kind of time frame? Intraday or <?

 

[Freddo]

julius it's EOD, I have an intraday version but no intraday data to test it with.

I bought a CD a while ago with tick data but it was a mess and I couldn't get the data loaded.

 

[julius]

Any chance the data was from adest?

 

[Freddo]

Yes it was....

 

[julius]

I JUST purchased the same data...absolutely useless, I'll be calling about a refund tommorow

 

[acouch]

good morning all
today's road map
have a great day, and good trades
ac

 

[Freddo]

Sycom close is down from the close of yesterday's day session.

Will watch the open for the gap size and see if it trys to close giving me a intraday long trade.

ADRS were a mixed bag, so up some slightly down

 

[acouch]

5725 will be gap fill from overnight..if spi opens at syco close at 12..but take note there is a gap to be filled below at 5673..filled it on syco, but needs to be filled on my daily chart as well.
we will see what she offers us as usual
have a great day
ac

 

[acouch]

oops going blind here ..gap fill from over night was at 5715..hod so far is at 5714..
ac