Trading the SPI

[Pager]

Quick scalp for me so far, sold 86, bought 82 so + 4, but looking for a long, see how support at 77/80 holds,

 

[Ageo]

Short 20 contracts 4999 on the A200.

i have to leave soon, but lets see how it pans out.

 

[neo]

support broken past 4977
Could be a good down move. I'm short at 4976

 

[Pager]

looking for the long if we get past 4980, so buying the low 80,s on stop with a tight stop, will exit EOD or at + 60 .

Expecting the discount to the cash to come in again today, if a good discount is still there late in the day, im long .

back to work for me

 

[Ageo]

stop moved to breakeven.

 

[neo]

Exit 4967. ....+9pts
XJO is way up.

 

[Poor_Grenville]

Question for Bronte

Hi Bronte, do you have the live charting of
FutureSource for your charts? I'm assuming
that you do since you take screenshots of it
so much

 

[professor_frink]

Well folks I took the morning off and had a kindy nap- really wish I didn't! Although given the way my head was pounding, I probably would have bought the open instead of selling it!

We had a gap opening just above R2, and a sell signal on the second bar. And no profit for me

 

[Poor_Grenville]

Well folks I took the morning off and had a kindy nap- really wish I didn't! Although given the way my head was pounding, I probably would have bought the open instead of selling it!

We had a gap opening just above R2, and a sell signal on the second bar. And no profit for me

Hey Frinky, it's always better to be on the sidelines when you
are not yourself 100%!

Oh, what charting software are you using?

 

[professor_frink]

Hey Frinky, it's always better to be on the sidelines when you
are not yourself 100%!

Oh, what charting software are you using?

Most definately Poor Grenville. I've only just started trading as well, so I want to be feeling good before I place a trade.

That lovely chart is done by Amibroker.

 

[Ageo]

Just got back,

Stop moved to 4979 (locked in 20 points so far).

If it moves 3 points down ill move the stop to 4969 and lock in 30 points.

Targets are to gravitation levels 4959 (which is now) but it could move further.

 

[Ageo]

Just moved stop again to lock in 30 points @ 4969.

Lets see if it moves further

 

[Poor_Grenville]

Most definately Poor Grenville. I've only just started trading as well, so I want to be feeling good before I place a trade.

That lovely chart is done by Amibroker.

Thanks Frinky!

I've never tried AmiBroker... always used Wealth-Lab.

But I think I'll give AmiBroker a go tho

 

[professor_frink]

Thanks Frinky!

I've never tried AmiBroker... always used Wealth-Lab.

But I think I'll give AmiBroker a go tho

It's worth looking at. Cheap too


Might go have some and come back after 2pm to see if we get any action

 

[Ageo]

It's worth looking at. Cheap too


Might go have some and come back after 2pm to see if we get any action

If it doesnt keep falling we might see a afternoon rally.

 

[professor_frink]

If it doesnt keep falling we might see a afternoon rally.

Definately a possiblility. Will be back later for a look.

Well done on the short this morning mate

 

[Ageo]

Definately a possiblility. Will be back later for a look.

Well done on the short this morning mate

thanks

 

[Bobby]

Like to hear some comments on the advantages & disadvantages of trading the SPI as against the XJO200 using CFDs.

Iv'e being asked this question & don't have a the depth of knowledge to answer such.
Whats your advice regarding the better choise, for someone who has just traded stocks .

Thanks Bob.

 

[professor_frink]

Like to hear some comments on the advantages & disadvantages of trading the SPI as against the XJO200 using CFDs.

Iv'e being asked this question & don't have a the depth of knowledge to answer such.
Whats your advice regarding the better choise, for someone who has just traded stocks .

Thanks Bob.

I looked at both before choosing futures over cfd's.

Futures are a "real" market, as opposed to trading against the cfd provider(I didn't trust the cfd providers to play fair all the time).

For daytrading the spread was a concern as well. Futures are usually 1 point, meaning if I buy the offer, it will cost me $35 after brokerage, the equivalent spread in cfd's is(I think) 3 points or $75.

Hope that helps a bit.

 

[Bobby]

I looked at both before choosing futures over cfd's.

Futures are a "real" market, as opposed to trading against the cfd provider(I didn't trust the cfd providers to play fair all the time).

For daytrading the spread was a concern as well. Futures are usually 1 point, meaning if I buy the offer, it will cost me $35 after brokerage, the equivalent spread in cfd's is(I think) 3 points or $75.

Hope that helps a bit.

Thanks Professor'

Yep I understand your concerns with some CFD providers, the MM type !
Do like the fact you can get a GSL & DMA with some providers , not sure about the spread with them ?

Cheers Bob.