Trading the SPI

[Pager]

Well I missed the close as I had to take my little one to her Tennis class, but as expected the discount came in to close at only 10 points to the cash.

Good day overall, my last contract stopped out at 4951, but took profit at 4972, entered at 4908 so got to be happy , have found if you get 60 or more points in a session take some profit or close the position if the market starts to stall or go sideways, also the market usually wont hold it, anyone else have an opinion or comment on this ?.

Cheers

Pager

 

[neo]

What a day.... I was expecting an up move but ended up with only +5 points from near the open.
It's always dissapointing when you miss a big move .....its funny, I kick myself but then remind myself that I did not lose money. I guess thats what trading the SPI is all about.....being consistent,taking a few points every day, the occasional big hit and the occasional small loss.....but at the end of the week making a profit!

 

[Bronte]

Just remind yourself that: "-over 90 per cent of futures traders lose!"
Reference 'Trading the SPI' by Brent Penfold page 55

If you look at todays posts 12.02 I called the High 4977
We had 76 point move upwards in the morning session alone.
As Pager so rightly points out this is a big move in one session,
let alone just the morning session.

 

[wayneL]

Gann taught us to love numbers.
The "Power of Numbers" is simply incredible
For example todays "Round number 4900"

Gann is only one of many to realise the power of numbers. BS is also powerful hence the proverb - "Bull541t baffles brains"

e.g. 2 + 2 always = 4.... except when my accountant gets hold of the numbers. He is able to make 2 + 2 = 1.85

 

[Ageo]

Nice work pager, anything above 30 points of profit is a great day of trading.

 

[Bobby]

Gann is only one of many to realise the power of numbers. BS is also powerful hence the proverb - "Bull541t baffles brains"

e.g. 2 + 2 always = 4.... except when my accountant gets hold of the numbers. He is able to make 2 + 2 = 1.85

I'm getting SICK of this crap to !!

Come on real posters , give waynel some back up ! on this .
Crap posts every day wreck a good thread.

Bob.

 

[Bronte]

96,664 views
Absolutely amazing
That is over 1600 hits since this morning.

 

[Bronte]

Sycom is certainly creeping up.
4977 High +16 points since Close.
Let us hope that soon, we can break
out of this trading channel.

 

[Bobby]

Absolutely amazing !!!

Yep isn't it

Bob.

 

[Bronte]

Sycom is certainly creeping up.
4977 High +16 points since Close.
Let us hope that soon, we can break
out of this trading channel.

An amazing twenty one day channel :

 

[Bronte]

Are we due for an explosive move?

 

[Freddo]

Are we due for an explosive move?

one would think so.
I'm more excited then a kid at Christmas,

 

[Bronte]

We think that the SPI is due for an explosive move Freddo?
You can not help... being excited by the prospect

 

[wayneL]

Not too good are they?

 

[neo]

Looking for further up movement today!
Any thoughts?
I'm looking for a long trade again at/near the open....

 

[Bronte]

Dow +10 overnight
Sycom -7 Points

 

[Pager]

Maybe a day on the sidelines for me, will see how we open at this stage.

After yesterdays drive higher could be a bit choppy today.

"if in doubt stay out"

 

[Bronte]

Wise words Pager
Plenty of Support around 4944/6
Last nights Sycom Low.

 

[neo]

long trade for me.
entry 4946

 

[Realist]

I'd be thinking of shorting today...

Buy now at 10:00am, sell at 11:30am.

See how I do...