Trading the SPI

[Bronte]

Agreed Magdoran,
Absolutely no argument from me.
I do love the crumbs though

 

[Bronte]

Yes OK Sensei,Thanks
Are you going to give us a trade?

 

[Ageo]

... lol ... Ageo please understand ... my comments weren't directed at your trade. I can sympathise with your comments though.

had a feeling but needed to confirm thats all hehe.

P.S the A200 is moving up!

lol ahwell my decision to pull the plug on the trade anyway as it wasnt a trade for profit but more for "boredom than anything".

But each point it rises each time i think i should break the laptop! hehehe only jks

 

[Bronte]

If the Gann Support had held strongly.... I would have held on.
As it was we saw lower prices and I had the chance to take profit.
The whole trade was done LIVE for all to see & question.
We still have a Double Bottom 4910 / 08 formation (unconfirmed)
SPI now 4925

 

[Freddo]

I'm stopped out of my short @ -5 points

Check this chart out... IF I had taken a contrarian approach
to my position I would have picked up nearly the whole" mountain "

 

[Bronte]

If the Gann Support had held strongly.... I would have held on.
As it was we saw lower prices and I had the chance to take profit.
The whole trade was done LIVE for all to see & question.
We still have a Double Bottom 4910 / 08 formation (unconfirmed)
SPI now 4925

Thank you Freddo

 

[Bronte]

The trade was a good one.
SPI now 4929 +14

 

[Realist]

Oh dear, this thread confirms all my bad opinion of traders.

People happy with a 4 point gain, oh dear oh dear. After fees, brokerage, time and tax you'd be better off looking under the couch cushions for coins.

Right, let's cut to the chase.

The ASX is now 4924.9 I'll buy. Gimme gimmme gimmmmme.

I'll let you know when I sell. We'll see who can beat me...

 

[professor_frink]

Oh dear, this thread confirms all my bad opinion of traders.

People happy with a 4 point gain, oh dear oh dear. After fees, brokerage, time and tax you'd be better off looking under the couch cushions for coins.

Right, let's cut to the chase.

The ASX is now 4924.9 I'll buy. Gimme gimmme gimmmmme.

I'll let you know when I sell. We'll see who can beat me...

look out folks Realist is here

4 pts per contract =$100.
margin required for 1 contract= approx $2750.
brokerage=$10
$90(3%) profit in 5 minutes.

What's wrong with that?

edit: sorry-$3125 intiial.

2.8% in 5 minutes

 

[Realist]

look out folks Realist is here

:bath:


Okay explain this below with real money please.... (remember I am an investor so very slow.. )


4 pts per contract =$100.

margin required for 1 contract= approx $2750.

brokerage=$10

$90(3%) profit in 5 minutes.

 

[Ageo]

i will stay out of this 1 hehe but just to let frinks and Sensei know that the A200 is up 20+ points from my entry that i closed lol!!!!!

when will i learn my lesson!!

anywayz im happy to get that off my chest.

P.S so far for August im up $1500 net for risking no more than 1% of my capital ($90,000) on any single trade.

Usually the trades are less than 1% although im prepared to risk upto 2% per trade.

So i cant complain

In a few months i will post my excel spreadsheet to show my expectancy rates

 

[professor_frink]

Explain futures in a post. Ok here goes.

the margin is basically a deposit you put down to buy the contract- Once you have bought it, every tick up or down = $25. Pretty simple really. I was slightly off, I checked the intraday margin(deposit needed if you are buying and selling on the same day) and it's $3125. $6250 to hold o/n.

Bronte buys at 4915 this morning, and sells a few minutes later @ 4919. $100 for 4 points. $10 to get in and out for brokerage, and there is your $90 profit. This works out to be a 3% return on money invested(although it's not wise to trade 1 contract with only $3000 in an a/c). More like 1 contract per $10 000. Reduces the return significantly, but this wasn't exactly a great example of a trade.

 

[Realist]

The ASX is now 4924.9 I'll buy.

It is now 4932.2 I'm up 7.3, should I sell, should I take part profits, should I use a trailing stop loss?

No, no, no.

I'll hold.... :

 

[Bronte]

About time we had some funny business
Four points x Ten contract
It's worth having for only a few minutes work.
SPI is now 4935/6 (+$500)
That is twenty points above the Support
Eight points would have been risked to make Twenty.

 

[Realist]

Explain futures in a post. Ok here goes.

the margin is basically a deposit you put down to buy the contract- Once you have bought it, every tick up or down = $25. Pretty simple really. I was slightly off, I checked the intraday margin(deposit needed if you are buying and selling on the same day) and it's $3125. $6250 to hold o/n.

Bronte buys at 4915 this morning, and sells a few minutes later @ 4919. $100 for 4 points. $10 to get in and out for brokerage, and there is your $90 profit. This works out to be a 3% return on money invested(although it's not wise to trade 1 contract with only $3000 in an a/c). More like 1 contract per $10 000. Reduces the return significantly, but this wasn't exactly a great example of a trade.

Cewl, sounds easy.. Who are you buying them from? $5 brokerage per trade???

How long can you hold them for? any other charges?

 

[Bronte]

Sorry prof, I will leave this to you.......

 

[professor_frink]

Cewl, sounds easy.. Who are you buying them from? $5 brokerage per trade???

How long can you hold them for? any other charges?

Easy? no comment

$5 is from interactive brokers.

Today's range so far has been 62 points. That's $1550 per contract. A bit unreasonable to expect the whole days range, but a big chunk of it was available this morning. Take half the days range, take out a further 50% for tax and it's still a pretty good mornings work.

try the sfe website for some more information. I don't have time to explain it all in detail, but general information isn't hard to find.


Happy investing mate

 

[Realist]

Thanks, it looks like fun.

I'll sell the ASX for whatever it is at 3:59pm....

 

[Ageo]

i will stay out of this 1 hehe but just to let frinks and Sensei know that the A200 is up 20+ points from my entry that i closed lol!!!!!

30 points up

lol im gonna stop looking at the screen.

enjoy!

 

[Realist]

The ASX is now 4924.9 I'll buy.

The ASX is now 4941.9 I'll sell.

Realist makes 17 points!!

Anyone beat that today?