Trading The SPI - NON-Gann Techniques

[Freddo]

The afternoon is kicking it down big time

 

[Trembling Hand]

and what happened around 11:30?
Good call!

Shame I didn't ride it all the way down!! Scalpers curse, Even the good ideas turn into just another trade.

Great day though huge range in the moves.

 

[Freddo]

......[deep in thought]......

I "think" our market is oversold and was expecting we would find some support
and see some upwards movement.

quick glance at the chart tells me we are headed further south.
Will post again later tonight once I get chance to run my systems across this cos you all know I reckon charts are deceptive creatures.

 

[julius]

fred today was hard to call; not the nearly the amount of rotation we have seen lately... sustain strength off the open followed by a huge sell off after lunch.

I was looking to trade a rally into close but it fell much further than I expected - three significant counter rallies before eventually finding buying support at ~15:30

 

[Freddo]

fred today was hard to call; not the nearly the amount of rotation we have seen lately... sustain strength off the open followed by a huge sell off after lunch.

I was looking to trade a rally into close but it fell much further than I expected - three significant counter rallies before eventually finding buying support at ~15:30

Agreed ,got on board the run at the open as expected but nothing for the rest of the day.

Don't have any clear signals on my EOD system.

I'll bet there are truckloads of orders sitting just above 5464.

Cheers Freddo

 

[Freddo]

interestingly my new system (being evaluated not traded at this time)
says to go long upon breaking of todays high that maybe tomorrow or the day after.

Now i know thats not rocket science because the closeness of the highs form today and yesterday will tell you that.

What this is saying is that it detects a long entry opportunity because of the potential end of a cycle.

Reading this chart you can see the white bar would have caused a loss going long the next day as the high was broken.

No entry on the 2 following purple bars but the purple bar on the 22 jan was a ripper. Initial version of this system would have entered at the open on the 23rd. Fingernail chewing due to the low close that day. Happier on 24th delighted on 25th and out on the 30th jan as it broke the low of the 29th.





Lets see how it pans out as i said I am not trading this yet.

 

[acouch]

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

 

[Freddo]

Sycom close 5405. Day close yesterday 5416

I wouldn't expect a gap

The preopen action could be interesting I believe this causes larger or smaller gaps at the open.

Will see if the open action gives me anything else
If we get near the high of yesterday I'll be on red alert

 

[Freddo]

Sycom close 5405. Day close yesterday 5416

I wouldn't expect a gap

The preopen action could be interesting I believe this causes larger or smaller gaps at the open.

Will see if the open action gives me anything else
If we get near the high of yesterday I'll be on red alert

We gapped this morning even though Sycom and the prior day session closes were not far apart.

I think because of preopen action.
The easy trade this morning was the strong run up as some of the short positions got stopped out so quick scalp was easy to take it's the small fast money trades.

As have posted here many times gaps often like to fill so as it as come back through the opened a short position and I'll trail the stop

 

[Freddo]

I'm out of my short position.

Absolutely no idea what it might do from here so I'm sitting on the sidelines unless it starts heading up and gets near yesterdays high

 

[julius]

just wondering what techniques others who are more experienced than myself use to confirm intraday trend changes on the SPI...

I use a break of trailing/lows highs, but it's quite late which can make it hard to get good R:R without getting whipped out of positions

any suggestions ?

 

[Freddo]

just wondering what techniques others who are more experienced than myself use to confirm intraday trend changes on the SPI...

I use a break of trailing/lows highs, but it's quite late which can make it hard to get good R:R without getting whipped out of positions

any suggestions ?

[sounds of crickets chirping]
Julius I don't know if I am more experienced then you.

I only intraday trade of a couple of conditions, 1st the open action and I only pick quick easy scalps when they appear I don't see them everyday.
I trade closing of gaps for intraday trades as well.

Sometimes I use a trailing stops on intraday swings other times I put it just above high or below the low of a 5 minute chart depending if i am long or short

For my EOD system trades I enter at anytime the signal occurs however this is not concerned with the intraday trend.

Regards Freddo

 

[acouch]

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

 

[Freddo]

Sycom close 5358 down 95 points on yesterdays close
so we should have a big gap.

So we should be in for some hot action at the open

I suspect we will see sharp selling for a scalp
then trades arise as the gap trying to close.
However I'll just look for trades and take them.

We got sooooo close to those tops at 5464 5462 yesterday
keep an eye on them if we get up around there again

 

[nat]

hi there all i have the close from last night right on a monthly pivot S1 for whats that worth if breaks that convinclingly got a little way to fall after that .
But market will do what it wants anyway ,good trading ,Nathan

 

[Trembling Hand]

just wondering what techniques others who are more experienced than myself use to confirm intraday trend changes on the SPI...

I use a break of trailing/lows highs, but it's quite late which can make it hard to get good R:R without getting whipped out of positions

any suggestions ?

Julius I guess it depends how frequent you trade. I will use a trailing stop on each 1 min bar. Which means you get stopped out just about every 3 to 4 minutes. but that's fine its my style. I don't give a hoot about 30 to 40 point winners. I get them some times but mostly I'm looking for 30 sec to 4 min trades and will do it many many times per day.

 

[julius]

um...holy **** ?

 

[Trembling Hand]

Who's the bad boy throwing around those 200 contract sell orders?

:shoot:

Nasty!! (for some )

 

[Freddo]

um...holy **** ?

Couldn't have put it better myself .
that gap isn't closing for a while
but I got my short at the open my trailing stop got hit made a profit
so I was high fiveing myself.

next thing I know the poor SPI is getting the cr@p kicked out of it

 

[julius]