Trading The SPI (Open)

[Bronte]

NYSE Dow Jones Finished up +88.97 points.
SPI Sycom Closed at 5362
Targets: 5366

Double Bottom: 5302/03 5290
Double Tops: 5372 5369 (Sycom)
Gaps to close: 5377 low 5364 High
Directional Day due ? ...... maybe not today.
Time frame Low Monday.

Selling: 5366 Lmt

 

[Bronte]

Selling: 5366 Lmt

Opened at 5362
5365 High
5351 now doh!
Missed by one point.

 

[Bronte]

NYSE Dow Jones Finished up +88.97 points.
SPI Sycom Closed at 5362
Targets: 5366

Double Bottom: 5302/03 5290
Double Tops: 5372 5369 (Sycom)
Gaps to close: 5377 low 5364 High
Directional Day due ? ...... maybe not today.
Time frame Low Monday.

Selling: 5366 Lmt

Those Targets T work well
Now: 5334 Low
+30 pts 10 mins

Make that 5329 Low 07:08 AM

 

[Bronte]

On 13th July 2005 at 07:31 AM

We posted this here at: Aussie Stock Forums:

'Buy Low and Sell High'

This simply means that you identify an area of Support.
ie Gann, Fibonacci, previous proven area - double bottoms, 50% etc
Buy low when the market is moving away from this area.
Place a stoploss a few points away (under the area of Support)
If you are wrong happily take a small loss or reverse.
When right use a trailing stoploss to take a large profit,
when the market turns.

Or trade to:

'Sell High and Buy Low''

This simply means that you identify an area of Resistance.
ie Gann, Fibonacci, previous proven areas - double tops, 50% etc
Sell high when the market is moving away from this area.
Place a stoploss a few points away (above the area of Resistance)
If you are wrong happily take a small loss or reverse.
When right use a trailing stoploss to take a large profit,
when the market turns.

This is trading 'What you see' with great 'Risk Management'

-------------------------------------------------------------------

For Educational Purposes only.

 

[Bronte]

Keep an eye on my Targets
They make great Support / Resistance areas.

So we have: Pre Open Foresight orders.

Stoploss of: -8 max on confirmation of Open (RISK)

Targets of: +8 plus (REWARD)

Support and Resistance areas.

Great RISK : REWARD Money Management. (BE asap)

High Successs Rate, considering this is 'THE OPEN' on 'THE SPI'

Analysis: Tops, Bottoms, Gaps, Sycom, Ranges, D/days, TIME, etc.........

Target T

Those Targets T work well

On 13th July 2005 at 07:31 AM

We posted this here at: Aussie Stock Forums:

'Buy Low and Sell High'

This simply means that you identify an area of Support.
ie Gann, Fibonacci, previous proven area - double bottoms, 50% etc
Buy low when the market is moving away from this area.
Place a stoploss a few points away (under the area of Support)
If you are wrong happily take a small loss or reverse.
When right use a trailing stoploss to take a large profit,
when the market turns.

Or trade to:

'Sell High and Buy Low''

This simply means that you identify an area of Resistance.
ie Gann, Fibonacci, previous proven areas - double tops, 50% etc
Sell high when the market is moving away from this area.
Place a stoploss a few points away (above the area of Resistance)
If you are wrong happily take a small loss or reverse.
When right use a trailing stoploss to take a large profit,
when the market turns.

This is trading 'What you see' with great 'Risk Management'

-------------------------------------------------------------------

For Educational Purposes only.

Identify: Areas of Support and Resistance.
Trade off them....Sounds easy

 

[Bronte]

Good morning :cup:

Any SPI Traders on IB this morning ?

 

[fiftyeight]

I was watching but did not trade.

Seen a short but at 5368 I think but I was a bit busy at work

 

[Bronte]

Thanks for the reply fiftyeight.

We couldn't logon to IB first thing this morning. (6.45 am WST)

This seems to be happening on a regular basis. (this year at least)

We are also experiencing very slow fills, or at least slow confirmations.

Anyone else having troubles ??????

 

[>Apocalypto<]

Thanks for the reply fiftyeight.

We couldn't logon to IB first thing this morning. (6.45 am WST)

This seems to be happening on a regular basis. (this year at least)

We are also experiencing very slow fills, or at least slow confirmations.

Anyone else having troubles ??????

You're trading to well Bronte, they're on to you!

 

[Bronte]

You're trading to well Bronte, they're on to you!

Do you really think so Apocalypto ? Just like Trembling Hand experiences. ?

Hope not, we have been trading with IB for far too many years now.......

 

[fiftyeight]

Ahhh I am hoping to move back Perth soon, didnt think about how early the open would be

 

[Bronte]

Yes, it is an early start.

The positives are:

1. If you can get the SPI Open Direction correct!!!! All done and back to bed by 7.30 am

2. One full hour later during the winter, as WA doesn't alter the clocks.... at all.

3. A Fantastic place to live and Retire.

Good Luck fiftyeight (fiftynine this year ?)

 

[Bronte]

We have learnt that 'Greed' is one of the Seven deadly sins.

This is very important to us when 'Trading The SPI'

Happy to make our target and then..... do whatever.

http://en.wikipedia.org/wiki/Seven_deadly_sins

 

[dlineinvestor]

We have learnt that 'Greed' is one of the Seven deadly sins.

This is very important to us when 'Trading The SPI'

Happy to make our target and then..... do whatever.

http://en.wikipedia.org/wiki/Seven_deadly_sins

Hello Bronte,
Welcome back ...
Show us what you've been up to today (chart)
Did you leave much on the table, is that what you mean ?
all in jest
Cheers

 

[fiftyeight]

Yeah I am originally from Perth and looking forward to getting home.

Yeah a few positives, ill be able to watch the open before work with no distractions.

Nope 58 is just my lucky number, many many years before I think about retiring

 

[Bronte]

Yes, we used to trade the: 'SPI Open' before work.
We lost a lot of money doing this until finally learning our lessons.
Then we realised that 'Trading The SPI' could replace work...so we retired.
We celebrated my husband 40th birthday on a cruise with friends.
That was in the great year of 2000.

 

[Bronte]

Hello Bronte,
Welcome back ...
Show us what you've been up to today (chart)
Did you leave much on the table, is that what you mean ?
all in jest
Cheers

Thanks dlineinvestor.
Nothing to show today, as I went back to bed.
If 'Trading The SPI (Open)' traders are keen......
We might rekindle this thread tomorrow morning.

 

[Bronte]

It is often quoted that the SPI is "Opened by amateurs, closed by professionals"

My intention is to use this thread as a place for preopen SPI discussion.

Any / all market calls will be made before the SPI opens. 09:49:30

A maximum Stoploss of eight points will be used, at all times.

Only the exits will be live.

All SPI traders are welcome to post.

Please enjoy......

NYSE Dow Jones Finished up +33.27 points. (17,719)
SPI Sycom Closed at 5328

Directional Day due ? ...... maybe not today.

Selling: 5329 Lmt
Stoploss above Sycom High
Target: 5325

 

[fiftyeight]

So if you get filled at 29, your target is 5 points?

 

[Bronte]

Opened Low and went Lower as expected.
No trade.....

Open 5323/24
Low 5315

Then we saw 5328 (missed by 1 point)
Now 5320