Trading the SPI

[Sensei]

love to know how many stops got taken out today between the range 4895 and 4905 ... and how many traders kept coming back to re-try.

 

[Bronte]

Or grab a cup of tea / coffee...maybe a TimTam or two
Sit at your computer and read the whole of this thread:
"Trading the SPI"
Good luck

 

[mit]

astro,

You can't trade the spi using Commsec or Mac CFDs (Although Macquarie has promised an index cfd).

$25 a point means exactly that. Today ranged about 50 points so you could have lost $1250 per contract if you got it wrong. Some of us use CFD indexes which can be as low as $1 per point (CMC Aussie200 CFD) which is a much cheaper and fun way to learn.

And by all means read Ben Penfold's book.

MIT

 

[Sensei]

Bronte ... you enter a trade today? .. wasn't clear in yr earlier post

 

[Bronte]

Yes several Sensei
(we trade every day)
I am happily sitting on profit

Thanks mit, there is a link somewhere
in this thread to Brents book.

 

[Sean K]

You guys have got me very interested in this 'trading the SPI' business.

Starting a trial with CMC tomorrow.

 

[Bronte]

"Good on you kennas"
The very best of luck

 

[Bronte]

Todays SPI Chart:

 

[Freddo]

This thread is becoming really active!

Really enjoying reading your posts everyone...

I'm still on the sidelines, really hanging out for my signals
to line up! Must be patient though.

You can read more about Brent's book at
www.indextrader.com.au

PS I have no association with Brent, just got great value out of his book

Regards

Freddo

 

[Bronte]

Thanks Freddo,
Well over 600 hits per day.
Japan / UK / NZ / Oz
Let us hope for more input from watchers.

 

[Ageo]

You guys have got me very interested in this 'trading the SPI' business.

Starting a trial with CMC tomorrow.

Kennas great to hear, just so your aware CMC is CFD's which trades the aussie200 not the SPI (very similar thow).

Just letting you know mate thats all


P.S welcome onboard

 

[Bronte]

Thanks Freddo,
Well over 600 hits per day.
Japan / UK / NZ / Oz
Let us hope for more input from watchers.

One of our traders says that at 07.00AM this morning the count was 84,368
We are now 85,353+ hits......that is nearly 1000 hits in 12 1/2 hours

 

[Freddo]

Got a grren light early this evening
I'm currently holding a short position

 

[Bronte]

Freddo!!!! Very brave call.

7.00AM 85,698 hits +1330 on this time yesterday Phew!

Dow + 74.2 overnight.

SPI now back to our 4940 Support / Resistance Area

 

[mit]

Got a grren light early this evening
I'm currently holding a short position

Freddo,

At what price?

Mit

 

[professor_frink]

Freddo!!!! Very brave call.

7.00AM 85,698 hits +1330 on this time yesterday Phew!

Dow + 74.2 overnight.

SPI now back to our 4940 Support / Resistance Area

4940 seems to be the level for the week. Every major move this week has either begun or ended in this area!

Now that I've said that, watch for it to do the exact opposite today

 

[Ageo]

there might be some early profit taking off the open.

If there is ill be on it like a lion on a wilderbeast!

 

[Bronte]

resistance @ 4940.

Yes professor and you called this Support / Resistance yesterday
Well done! Now todays question...Do you know why????

 

[Ageo]

Yes professor and you called this Support / Resistance yesterday
Well done! Now todays question...Do you know why????

he doesnt need to know why.

He's Professor Frink!

 

[neo]

Hi all,
Open 4965....that seems high.
I'm short at 4966.........