Trading the SPI

[professor_frink]

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.

Bob, when your talking about index cfd's, I think every provider is MM. For share CFD's there is no way I'd sign up with any provider that didn't have DMA, GSL's and segregated accounts.

 

[Ageo]

Well so far i have had no probs.

A200 (index simliar to the SPI) on CFD's are a 2 point spread (In hours and 4 points after hours). No commissions so for me its fantastic.

Also you can trade 1 contract (which = $1 per point) as a minimum which is great for learning.

Anywayz just to update the trade i got stopped out for 4969 so i made 30 points ($600).

Not bad for the day, lets see how tomorrow goes.

 

[professor_frink]

Well so far i have had no probs.

A200 (index simliar to the SPI) on CFD's are a 2 point spread (In hours and 4 points after hours). No commissions so for me its fantastic.

Also you can trade 1 contract (which = $1 per point) as a minimum which is great for learning.

Anywayz just to update the trade i got stopped out for 4969 so i made 30 points ($600).

Not bad for the day, lets see how tomorrow goes.

Ageo, that extra point on the spread is the same as paying $25 brokerage each way on a futures contract. I pay $5 a side. Over time that will add up to alot of money!

You seem to have a pretty good grasp on trading the index. Have you thought of opening a futures a/c?

 

[Ageo]

Ageo, that extra point on the spread is the same as paying $25 brokerage each way on a futures contract. I pay $5 a side. Over time that will add up to alot of money!

You seem to have a pretty good grasp on trading the index. Have you thought of opening a futures a/c?

Frinks with CFD's it allows me to trade shares aswell as commodoties, indicies and FX etc..

So its suits my style. DMA will soon come out and im sure the spread will decrease over time (perhaps to 1 point). So im happy with it, and i dont like trading 2 platforms (i.e 1 for shares and the other for index's etc..) it just throws me out of balance.

Might sound crazy but for the time being the extra point does no harm. I dont scalp anymore for that reason but for swings (10 point+ moves) it doesnt effect me.

 

[professor_frink]

Frinks with CFD's it allows me to trade shares aswell as commodoties, indicies and FX etc..

So its suits my style. DMA will soon come out and im sure the spread will decrease over time (perhaps to 1 point). So im happy with it, and i dont like trading 2 platforms (i.e 1 for shares and the other for index's etc..) it just throws me out of balance.

Might sound crazy but for the time being the extra point does no harm. I dont scalp anymore for that reason but for swings (10 point+ moves) it doesnt effect me.

Fair enough mate.

 

[Pager]

Well the discount looked like it would come in, so I went long at 4928 after it dipped and bounced of 4923 then it went backwards after stalling at 4934 !!!!, so jumped out at 4930 for + 2 points, then it decided to turn around again and headed higher, made a high of 4942 before closing at 4939, but I missed it at the second opportunity .

Oh well, made 6 points today from 2 trades

 

[Bronte]

Todays 5 min SPI chart:

 

[Bronte]

Re: 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

No P_G,
I just find them easier to post

 

[Bronte]

Somewhere on this long thread....
I have mentioned that we use Market Analyser Pro.
We do an awful lot of hand charting.
We have PocketWatch pagers
& a couple of trading platforms.

 

[wayneL]

Somewhere on this long thread....
I have mentioned that we use Market Analyser Pro.
We do an awful lot of hand charting.
We have PocketWatch pagers
& a couple of trading platforms.

We?

 

[Bobby]

Frinks with CFD's it allows me to trade shares aswell as commodoties, indicies and FX etc..

So its suits my style. DMA will soon come out and im sure the spread will decrease over time (perhaps to 1 point). So im happy with it, and i dont like trading 2 platforms (i.e 1 for shares and the other for index's etc..) it just throws me out of balance.

Might sound crazy but for the time being the extra point does no harm. I dont scalp anymore for that reason but for swings (10 point+ moves) it doesnt effect me.

Hello Ageo,

You seem to be doing OK trading the XJO200, would you care to recommend your CFD provider & their cost structure please?

Bob.

 

[Bobby]

We?

On another note Congratulations on your next post being your 2500 ! fantastic effort

regards Bob.

 

[Bronte]

Congratulations Wayne

 

[brisvegas]

Somewhere on this long thread....
I have mentioned that we use Market Analyser Pro.
We do an awful lot of hand charting.
We have PocketWatch pagers
& a couple of trading platforms.

Market Analyser just as easy to post and much more informative than free to air futuresource delayed so why not give us an insight to your software



.................. bris

 

[Bronte]

Market Analyser just as easy to post and much more informative than free to air futuresource delayed so why not give us an insight to your software
.................. bris

Hi bris, I thought you said we wouldn't hear from you again!!!!
We like to use a black background...and the file becomes to big to post...
This one I have changed to white.......... DoH! :homer: Still too large!

 

[Bronte]

Hi bris, I thought you said we wouldn't hear from you again!!!!
We like to use a black background...and the file becomes to big to post...
This one I have changed to white.......... DoH! :homer: Still too large!

Try again..

 

[Bronte]

certainly have to agree there , from what ive seen i am the only one to post a trade real time and as ive read back it has been analized to death with what seems to be ego driven comments since with one poster repeatedly talking to themselves . its not that im not brave enough to post anymore realtime trades . its more like i fail to see any point trying to justify myself to a hindsite trader who apparently never has a loser . this trader seems more interested in feeding ego than posting real time trades with entires , targets and stops before the fact . i cant compete with fantasy and have no intention of trying to . i was going to start posting trades so as to demonstrate my simple and unambiguous methodology , but alas i cant be bothered wasting my breathe feeding this hindsite gann wonder . god forbid the trash i would have to put up with if i had 2 losers in a row which does happen for what its worth . my last post on this waste of time thread

.................. cheers pete

ps please dont bother replying to this post as no correspondence will be forthcoming

Mmmm! Shame on you bris

 

[wayneL]

On another note Congratulations on your next post being your 2500 ! fantastic effort

regards Bob.

Hah! Now I have to post something totally gratuitious to get me over the line... hmmmmmm to0 have racked up 2,500 they were probably mostly gratuitious :

On black backgrounds... I don't have a problem posting them. Maybe you are saving in the wrong format. Try gif or png.

Cheers

 

[Pager]

How many here are full time traders?, or part timers so to speak like me, just curious .

I’m a 1 or 2 lot trader as I work full time and im comfortable with that level, tried 5 but it affected my real job to much and also I didn’t do as well (not sure why, maybe made me too nervous and jumpy).

I trade through IB so my brokerage is only $5 per contract, my goal is to net 40 points ($1000) a week, most weeks iam there abouts, every so often we get a day like Monday were I picked up a combined 110 points with 2 contracts and 3 trades, but most days I ground out 4 to 12 points with 2 or 3 trades, usually in the first 20 mins of trade or the last 20, if we get a runner which is what im always looking and hoping for as we did Monday morning I try and ride it until it looks exhausted or stalls then cover 1 contract and place a closer stop on the other, the longer im in a trade the more room and time I give it to kick on.

I also trade mechanical systems through a full service broker

 

[Bronte]

Thanks Pager...very interesting.

I do not claim to be a computer expert.