Trading the SPI

[wayneL]

Archivist saves and squirrels away each and every discussion forum message. Do you remember having a bad day back in 1996 when in one of your messages you may have said a few things that were...well, perhaps a little...hasty? Don't worry, Archivist still has it and will post it to the forum if you begin to get the upper hand in battle.

 

[Bronte]

Thank you Wayne.......
I expected a lot worse.

 

[Pager]

Should add for anyone new to the Spi, the first 2 years I traded i lost money each year, but 1 contract and a tight stop, didn’t do too much damage to the bank account and came close to giving it up on more than 1 occasion .

 

[wayneL]

Should add for anyone new to the Spi, the first 2 years I traded i lost money each year, but 1 contract and a tight stop, didn’t do too much damage to the bank account and came close to giving it up on more than 1 occasion .

Congratulations Pager, you've survived the Bermuda triangle.

(actually it's a great contract to trade these days)

 

[brisvegas]

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!

Ive posted many MA charts on many forums and it has been SO EASY . have a look back at my posts and there are quite a few


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

 

[Bobby]

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

Wayne thats dark stuff ! but got it , do the rabbits s**t in their own nests :sheep: :

Bob..

 

[brisvegas]

Ive posted many MA charts on many forums and it has been SO EASY . have a look back at my posts and there are quite a few


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

such as

https://www.aussiestockforums.com/forums/attachment.php?attachmentid=1716


https://www.aussiestockforums.com/forums/attachment.php?attachmentid=1717


https://www.aussiestockforums.com/forums/attachment.php?attachmentid=1506

So Whats Wrong With YOU

 

[wayneL]

Wayne thats dark stuff ! but got it , do the rabbits s**t in their own nests :sheep: :

Bob..

I don't know Bob, just a bit of self deprecating humour, but I should learn to spell gratuitous hey

 

[Bobby]

I don't know Bob, just a bit of self deprecating humour, but I should learn to spell gratuitous hey

Wayne I missed the spelling , but should have left out the ( do ) !!
Nothing wrong with your humour

Have fun
Bob.

 

[Bobby]

Wayne I missed the spelling , but should have left out the ( do ) !!
Nothing wrong with your humour

Have fun
Bob.

Whoops the (do ) was in my reply .

 

[bingk6]

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.

Hey Pager,

Not a bad return for an hours work each day. I am assuming that the brokerage from IB is $5 per contract per trade. Is that brokerage fee the most competitive that you have found ? Do they provide intra-day charts and how do they compare with other futures brokers ?

Secondly, good to hear that you are still trading despite first 2 years of losses. What is it that you are doing differently today to those first 2 years ? I am considering trading the SPI and would appreciate any advice (outside of following the outstanding advice in this particular thread - off course)

 

[Freddo]

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

Pager,
My trading life is almost exactly as you describe.

I haven't posted much here lately, I find it too hard to trade, work a day job
and post intradday trades live here.

I am really enjoying this channel we are in, no good for EOD trading (well for me anyway) but intraday as been brilliant.

Will post trades when I get an EOD signal

Regards
Freddo

PS....
Quick comment on recent discussion,
Pivot points rock!
but like anything it's how you use them... and I'm not telling

 

[Ageo]

Hello Ageo,

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

Bob.

Hi Bobby,

im with CMC and there spreads for the A200 are 2 pips (no commissions thow).

Eventually they will introduce DMA.

So far so good for me.

 

[Bobby]

Hi Bobby,

im with CMC and there spreads for the A200 are 2 pips (no commissions thow).

Eventually they will introduce DMA.

So far so good for me.

Thank you Ageo for your reply, when a provider offers DMA I'll start playing

Keep the posts up & thanks .
Bob.

 

[wayneL]

Hi Bobby,

im with CMC and there spreads for the A200 are 2 pips (no commissions thow).

Eventually they will introduce DMA.

So far so good for me.

How will they do DMA with the Oz200 ageo ?

They will have to match the futures precisely I would have thought... including the contract sizes?

 

[Ageo]

How will they do DMA with the Oz200 ageo ?

They will have to match the futures precisely I would have thought... including the contract sizes?

Wayne to be honest im not sure but thats what they guy said to me. (IG im pretty sure do DMA on the A200).

Anywayz not sure when it will be out thow

 

[Pager]

Hey Pager,

Not a bad return for an hours work each day. I am assuming that the brokerage from IB is $5 per contract per trade. Is that brokerage fee the most competitive that you have found ? Do they provide intra-day charts and how do they compare with other futures brokers ?

Secondly, good to hear that you are still trading despite first 2 years of losses. What is it that you are doing differently today to those first 2 years ? I am considering trading the SPI and would appreciate any advice (outside of following the outstanding advice in this particular thread - off course)

Most Aussie brokers are far more competative these days, IB trading platform and data is free for the Spi and a few other markets, nominal fee for most others, just open an account, fees for the Spi are $5 per side.

Think the major difference to what i do compared to when i started is not to try to buy a faling market or sell a rising one, also dont live on hope if a trade goes the wrong way, i get out, also you need a plan, were to buy/sell, were to exit, were is the stop etc, think in hindsight i would make a trade then think know what should i do.

I also identify areas of support or resistance (to me anyway), also use Pivot levels from various time frames.

Sorry no time to spell check , got to run thin morning, good luck to all who are trading today.

Anyway no trading today as im on a course

 

[Bronte]

Another good night
Dow +97 points
SPI +43 points

 

[Ageo]

perhaps another high open and then short from there?

 

[Ageo]

Short 20 contracts @ 5004 on the A200

Stop is 5014