Trading the SPI

[iSPI]

just so you know ispi the bigger players definately play at night, especially when the london and newyork markets are open...there are plenty of people who take a swing in the adr/dlc market and then use the futures to hedge, so you still find people who are trying to trade size. Problem is, as you say, it is illiquid as hell, so if the trader needs to get set, they are not worried about paying thru the offer for 3 or 4 ticks or selling thru the bid etc

Thanks spitrader1

 

[iSPI]

For those tuning in my entry was in fact 5171 being the OPEN
as per my order, I posted 5175 earlier because thats what I thought
the message on mobile said which I thought was strange.
I have had a point slippage before but never 4.

Lets see what Sycom serves me up tonight will I wake up
:jump: or :fan

 

[spitrader1]

For those tuning in my entry was in fact 5171 being the OPEN
as per my order, I posted 5175 earlier because thats what I thought
the message on mobile said which I thought was strange.
I have had a point slippage before but never 4.

Lets see what Sycom serves me up tonight will I wake up
:jump: or :fan

you went within a whisker of being stopped out!!! 5207 high!!

 

[iSPI]

you went within a whisker of being stopped out!!! 5207 high!!

Good old Sycom, it sure bounced off 5133.
and my 19 point profit per contract went to -28, now comes the tricky part.

Today can of course do 3 things
up,down or sidewards.

I will NOT be placing my stop loss before the open, I want to see what
the open does.

 

[spitrader1]

Good old Sycom, it sure bounced off 5133.
and my 19 point profit per contract went to -28, now comes the tricky part.

Today can of course do 3 things
up,down or sidewards.

I will NOT be placing my stop loss before the open, I want to see what
the open does.

i just had a quick scalp ispi trading my dow theory..bought 2 @ 5202, as the cash opened everyone rushed to cover there shorts, sold @ 5213

 

[Euler]

i just had a quick scalp ispi trading my dow theory..bought 2 @ 5202, as the cash opened everyone rushed to cover there shorts, sold @ 5213

Good trade and very nimble too .... how do you see the rest of the day panning out? .... do you see it holding the gains above 5200's or is it a a strong resistance level?

 

[Bronte]

'Trading the SPI'
Sycom closed at 4966
If we open around here on Monday
Then we will be looking to Buy the SPI

Sat 23rd Sept 12.54PM

Our Target is 5222

 

[spitrader1]

Good trade and very nimble too .... how do you see the rest of the day panning out? .... do you see it holding the gains above 5200's or is it a a strong resistance level?

probably get up towards the 5230 range at some stage before settling around the 5210 mark...

 

[Bronte]

Our Target is 5222

Our timeframe is this weekend

 

[Euler]

probably get up towards the 5230 range at some stage before settling around the 5210 mark...

... and there it is ... the first part on its way. good call. ... where do I learn these skills????

 

[Bronte]

Our Target is 5222

Now 5218
Todays 1 min SPI:

 

[Bronte]

'Trading the SPI'
Sycom closed at 4966
If we open around here on Monday
Then we will be looking to Buy the SPI

SPI Daily chart:

 

[spitrader1]

... and there it is ... the first part on its way. good call. ... where do I learn these skills????

euler it has taken me years and years unfortunately...

 

[Bronte]

SPI now 5212

 

[Bronte]

5222 is holding very well.
We are of course a day early.

 

[Euler]

euler it has taken me years and years unfortunately...

Thanks spitrader1 .... I understand. Do you see it retracing back to your original entry point or in the region 5170-80?

 

[spitrader1]

Thanks spitrader1 .... I understand. Do you see it retracing back to your original entry point or in the region 5170-80?

euler i would say from here it may fall smalls below 5200 and then bounce back above into the close to finish around abouts where we are now...dont try and catch a falling knife though...as i orginially said a close above 5200 (smalls) is where i think the day will finish up.

 

[Euler]

...dont try and catch a falling knife though...as i orginially said a close above 5200 (smalls) is where i think the day will finish up.

I see what you mean by the falling knife .... my hands were well clear!!
Again .... intraday top call.

 

[iSPI]

I'm still in there.
Nice spitrader1

Didn't panic this morning as the other shorts covered but I see we are up there again so i better keep my mind on the job

 

[spitrader1]

I'm still in there.
Nice spitrader1

Didn't panic this morning as the other shorts covered but I see we are up there again so i better keep my mind on the job

good talk today fellow spiers, im outta here unfortuantely for some real work...may the spi be with you