Trading the SPI

[Bronte]

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

"Thank you Pager"
I sold way too early.
On the way up, not down.

 

[Bronte]

Sold 5068 (1 pt slippage)
Todays 3 min SPI Chart:

 

[Pager]

Professor_frink

Markets in our time zone worth a look IMO are Nikkei (SGX), Taiwan (SGX), Hang Seng, Topix (TSE), this Tracks the Nikkei (Osaka), or the Nikkei tracks it ?, Kopsi (Korea), this market trades huge volume but looks pretty choppy, not that I have traded it so don’t really know first hand but watching it, it does jump around a bit

 

[wayneL]

Sold 5068 (1 pt slippage)
Todays 3 min SPI Chart:

So you were 24 pts underwater at one stage?

 

[Bronte]

Yes...very painful.
Only one contract but.......

 

[wayneL]

Imagine that on the alleged 1000 cars!!!

600k!!!

 

[Pager]

Bronte, you have a target of 40 points 5027, you have been underwater 24 points at 1 stage, how big are your stops ?.

Chasing 40 points i would only be risking about 10 points or 4 to 1 and that 10 points would be into breakeven ASAP.

Just curious

 

[Bronte]

LARRY WILLIAMS ON FEAR AND GREED

Currently on any given day I will be long or short somewhere over 2,000 Bonds.
That means that every tick in the Bond market will make....or lose me....$62,500
Believe me, if you want to get in touch with fear and greed there's no better way
of doing it than to have each tick in the Bond market represent $62,500!

 

[professor_frink]

Professor_frink

Markets in our time zone worth a look IMO are Nikkei (SGX), Taiwan (SGX), Hang Seng, Topix (TSE), this Tracks the Nikkei (Osaka), or the Nikkei tracks it ?, Kopsi (Korea), this market trades huge volume but looks pretty choppy, not that I have traded it so don’t really know first hand but watching it, it does jump around a bit

Thanks for that Pager.

Now that I have the right month, the HSI is looking alot better volume-wise.

Might go and take at look at the krazy Korean Kospi next

 

[wayneL]

LARRY WILLIAMS ON FEAR AND GREED

Currently on any given day I will be long or short somewhere over 2,000 Bonds.
That means that every tick in the Bond market will make....or lose me....$62,500
Believe me, if you want to get in touch with fear and greed there's no better way
of doing it than to have each tick in the Bond market represent $62,500!

That's nearly $2.5 million USD on initial margin alone, not including cash reserves.

Yet he couldn't stump up a paltry million AUD for bail?

 

[wayneL]

Bonds trade just a tad more than 20,000 contracts a day too

 

[Bronte]

Bronte, you have a target of 40 points 5027, you have been underwater 24 points at 1 stage, how big are your stops ?.
Chasing 40 points i would only be risking about 10 points or 4 to 1 and that 10 points would be into breakeven ASAP.
Just curious

This trade started off as a fun trade
I knew at some stage there would be a 'Sell Off"
& I had said that I would Sell 5067 on chat 1.27PM
So I did....regretted getting in too early.
As I posted it was only one contract.
My stops are usually very tight on....
"Gann Support / Resistance trades"
This wasn't one of them......
We also called 5048 as Gann Support earlier on.

 

[Pager]

LARRY WILLIAMS ON FEAR AND GREED

Currently on any given day I will be long or short somewhere over 2,000 Bonds.
That means that every tick in the Bond market will make....or lose me....$62,500
Believe me, if you want to get in touch with fear and greed there's no better way
of doing it than to have each tick in the Bond market represent $62,500!

Larry Williams stuff is very good and I have learnt a lot from him, the 1 area he does not stack up IMO, is with these huge stops, yes you may get a high % winning trades but surely if you have say $40,000 in your account its better to risk say 10 points on 4 contracts than 80 points on 1?.

As long as your method is sound, you will be miles ahead in the long run even though you may only win say 40% compared to the huge stops 80% win rate with only 1 contract?

 

[Bronte]

We certainly agree with you post Pager.
When trading multi contracts
Stoplosses are essential

 

[wayneL]

We certainly agree with you post Pager.
When trading multi contracts
Stoplosses are essential

We?

 

[Bronte]

Not again Wayne.
Pls attack the system....not me

 

[wayneL]

Just having fun with you Bronte!

 

[Bronte]

Please Wayne...Why did you delete that post?

 

[wayneL]

Why did you delete that post Wayne?

Because a contained an innaccurate accusation and hence was a personal attack.

You see questions are always answered by me.

Who is we?

 

[wayneL]

Bronte throughout this thread, you have refered to yourself as "we". We bought here, we use stoplosses etc.

It's a simple question; who is we?