Trading the SPI

[Mr_Liquidity]

S&P500

I am an options trader just found out you could trade on the S&P!

I have alwys traded on RIO MBL and WPL and somtimees CBA + NCM but it's great to see some index action on asx

Who else thinks this mini break out will come to nothing?

Personally with reporting apon us there could be something on the down side in next 3 weeks

Have to wait

 

[professor_frink]

There is also a Mini Hang Seng, it trades in HK$10 ticks (about A$1-80) rather than the main contracts HK$50, only drawback is if its anything like the big contract, slippage may be a big factor to consider but the flip side is it can move.

From the small amount I've looked at the hang seng, it looks to be very thinly traded. Could be good fun throwing 1 contract around.

You'd be a very brave man to try and trade any size on it IMO

 

[Pager]

Ive never traded the mini but yes could be very interesting

Not sure how much volume it does, the big contract does a fair bit, but if you look at market depth for the big contract there is often bugger all there, maybe 2 on the bid and 3 on the offer , maybe alot of traders only use market or stop orders ?.

 

[professor_frink]

Ive never traded the mini but yes could be very interesting

Not sure how much volume it does, the big contract does a fair bit, but if you look at market depth for the big contract there is often bugger all there, maybe 2 on the bid and 3 on the offer , maybe alot of traders only use market or stop orders ?.

The HSI only seems to be doing about 1500 contracts a day. Haven't looked at the mini yet.

Depth is pretty well non existent- I might touch it, but not for awhile- the nikkei looks to be a bit more friendly.

 

[porkpie324]

all cfd followers the trades on spi today, 5@2.48 5070,5@2.50 5068, 5@2.49 5068, 5@2.54 5068, 5@2.57 5069, 5@3.25 5073, 5@3.26 5074, 5@3.27 5074, 5@3.27 5072, 5@3.28 5070, 5@3.29 5071.
closed all the above on MACD divergance at 5.00- 5.12 at 5098-5100
all no commision and yes on 2 pip spread, porkpie

 

[wayneL]

Lets not go the hindsite trade route again folks.

By all means discuss the process in hindsite, but any specific trades should be posted in real time.

Thanks

 

[Bronte]

Sold 5067 LIVE on chat
Does that count Wayne?

 

[wayneL]

Sold 5067 LIVE on chat
Does that count Wayne?

If witnessed by others, sure! No problems, it's verifiable.

I would just mention that though, that is was called on chat, when applicable.

Cheers

 

[Bronte]

Sold 5067 LIVE on chat

Now 5047 + 20 pts

 

[Joe Blow]

If witnessed by others, sure! No problems, it's verifiable.

If required, I can refer to the chat room logs for confirmation.

 

[Pager]

The HSI only seems to be doing about 1500 contracts a day. Haven't looked at the mini yet.

Depth is pretty well non existent- I might touch it, but not for awhile- the nikkei looks to be a bit more friendly.

What contract are you following Profesor ?, the Hang Seng did nearly 32,000 yesterday ?, All the volume is in the current month (August), you do know it does not trade like most other markets, that is the Spi, Nikkei, S&P etc trade June/Sept/Dec/March, the Hang Seng trades all 12 months, so at present August has all the volume.

The Taiwan Index also trades all 12 months.

Anyway Spi today, was stopped out with a point slippage at 5070 , so 2 trades for + 5 points.

Cancelled the sell order @ 5047 as i thought it wouldnt have a hope in hell when we were trading in the mid 80,s ,but looking at the sell off towards the close, should have maybe left it be, be interesting to see were the night session opens, the bears were certainly in control for the last half hour.

 

[Pager]

Looks like the night session opened at 5054, thought it may have been higher after the BHP result, know 49, mmmmmmmmm.

Feel its a good buy looking at the discount we are running to the cash and how well support at this level held today, but the old gut doesnt feel right so will leave it alone.

 

[professor_frink]

What contract are you following Profesor ?, the Hang Seng did nearly 32,000 yesterday ?, All the volume is in the current month (August), you do know it does not trade like most other markets, that is the Spi, Nikkei, S&P etc trade June/Sept/Dec/March, the Hang Seng trades all 12 months, so at present August has all the volume.

The Taiwan Index also trades all 12 months.

Anyway Spi today, was stopped out with a point slippage at 5070, so 2 trades for + 5 points.

When I booted up TWS this morning, it said the contract was going to expire soon and needed to be rolled over(or something to that effect), so I just clicked on yes. So I was looking at the wrong month.

WHOOPS

 

[onemore]

Prof Frink

What about the DAX ? It trades avg 120,000 a day.
Opens at 4pm our time,and is very liquid with large intraday swings .

 

[Bronte]

What is it about 'Trading the SPI'
That you dislike?
Just curious...

 

[Bronte]

Sold 5067 LIVE on chat

5037 on Sycom
Stoploss now 66

 

[Bronte]

5028 Low
Wanted 5027 Doh!
Maybe later on....

 

[Pager]

Well done Bronte

I cancelled my Sell order at 5047 , mind you we were trading 5085 at the time.

Was a little spooked by the BHP result coming after the close, could have pushed the market higher, or so i thought

 

[professor_frink]

Prof Frink

What about the DAX ? It trades avg 120,000 a day.
Opens at 4pm our time,and is very liquid with large intraday swings .

It's a possibility onemore.
My thinking is that if there are markets in our timezone that are good to trade, I'll look at them first before looking elsewhere.

At least then I can get away from the screen at night, spend some time with my girlfriend and recharge the batteries for the next day's fun.

15 hours of trading and no play makes for a dull and stressed out professor

What is it about 'Trading the SPI'
That you dislike?
Just curious...

Was that directed at me bronte? I'll answer anyway

I don't dislike the SPI at all- Like most others, I don't like the price action every single day(yesterday for example), and not all days are going to fit in with my trading methods.

If I have more than one maket available to me, then I'll be able to be a bit more selective with trades that I take, and wait for the good quality setups, instead of not trading, or even worse, taking trades that I really shouldn't(like this morning's long that was stopped out!)

 

[Bronte]

Thank you