Trading the SPI

[Bronte]

Dow -34.0
Down as expected.
Today F.O.M.

 

[Bronte]

G'day Bearman,
So how would you go about picking up nearly 200 points based on yesterdays action?
200 points is a pretty good day's trading

Hi professor, Bearman52
That is a very good question.

 

[nat]

hi there ,id be happy to consistently get 20 points a day Nathan

 

[spitrader1]

if anyone thinks they can help me with a certain type of order, please go to the chat room. i cant getg my head around it.

 

[Sensei]

look short .... in @ 50

 

[Sensei]

look short .... in @ 50

.... begga ... did a U-turn 10min after the cash opened ... out for a 10 hit

 

[Bronte]

Very tough luck Sensei
What were your reasons for going short when you did?

 

[Bronte]

SPI 2min chart showing the trade:

 

[Sensei]

Very tough luck Sensei
What were your reasons for going short when you did?

on open trade the 5 min chart and got a sell signal ... after cash opened lower looked like the short would follow through ... it got to 41 but stalled and market turned ... early seemed 41 could be broken ... had a look of weakness about it when testing 50's .. but 50's became support ... out on my stop

 

[Bronte]

Thank you Sensei.

 

[Bronte]

if anyone thinks they can help me with a certain type of order, please go to the chat room. i cant getg my head around it.

Hi spitrader1,
Did you get an answer to your question?

 

[nat]

hi there ,was wondering does anyone have a way to tell in sideways movement ,how to tell when breakout is going to be the right one or best to just not trade in lunchtimes,Nathan

 

[Ageo]

hi there ,was wondering does anyone have a way to tell in sideways movement ,how to tell when breakout is going to be the right one or best to just not trade in lunchtimes,Nathan

nat a few crucial points i look at for breakouts.


5 & 20 day EMA crossovers, high volume, and the important resistance/support levels.

thats the only time i usually trade the A200

 

[Sensei]

... or best to just not trade in lunchtimes,Nathan

.. and lunchtime, in general, exhibits low volume.

 

[nat]

thanx for that ageo and sensie,i havent got any vol as using cmc for trading and just have a intraday yahoo for cash price but no vol on that ,is there any free ways of telling vol or got to have paid live charts ,or be registed with a broker that gives one that stuff, Nathan

 

[Sensei]

thanx for that ageo and sensie,i havent got any vol as using cmc for trading and just have a intraday yahoo for cash price but no vol on that ,is there any free ways of telling vol or got to have paid live charts ,or be registed with a broker that gives one that stuff, Nathan

need live data ... most brokers I am aware of charge you a fee for using the live data/chart platforms ... there are also independent live data suppliers. Can cost typically between $100-$150 pm.

 

[Bronte]

Hi mit,
The daygraph becomes our chart that we update by hand....tick by tick.
We have Live "Trading Platforms" so we can do our own Buying / Selling.
Market Analyser Pro. provides "Real Time Live Streaming Data"
MotorRola Orange PocketWatch provides slightly delayed data (8 / 10 seconds, I think)....so I can go shopping
The Man Financial Charts are approx. 15 to 20 minutes delayed.
I hope this answers your question

It is not wise to try and trade the SPI on the cheap.

As for the trading sessions.
We have broken the day up as follows:

07.50AM to 08.15AM Open Session
08.15AM to 10.00AM Morning Session
09.45AM to 12.00AM Lunchtime
12.00AM to 02.00PM Afternoon Session
02.00PM to 02.30PM Happy Half Hour

Hope this helps.
We hardly ever trade the Lunchtime.

 

[Freddo]

Hi Folks
just reading the messages for today, D'ont know whether you realize it but there was around 390 points in swings today (on a 3min chart) at least half of them were gettable using the right system. So yes it did go up & down today. It was a beautiful day to trade.Unfortunately we are in the middle of a move and I'm packing and she who commands put my trading room off limits (apart from an occasional sneaky eyeballing of the screens,because as we know this is addictive)The market will give to you if you tickle it the right way

Loving the sound of this....
I'm using a mobile device at the moment for live data so I don't have
intraday data stored.

If someone wants to email me tick data for yesterday I'll have ago at charting
it and share what I find with you.

email freddofrog[AT]email[Dot]com

And for your viewing pleasure a chart of my 4MGS system revisited
and currently being tested.
It's needs some tidying up not all the green and red arrows are valid entry signals, look for the white line crossing above the
thicker grey line for long and vice versa for shorts you should see it picks up on the big moves nicely.

I use EMAs and home grown indicators to confirm/filter signals.

 

[nat]

thanx for that bronte ,yes im def trying to do it on the cheap at moment,thing is most of the time its not my cheapness thats letting me down its my lack of discapline ,i dont normally trade the lunchtimes but thought today might be diff ,but it wasnt ,im finding best to just stay away,during those times so dont get tempted.
im still really in experimental mode at moment ,once i get my discalpline reigned in then if still not profiting consistenly ,i will have to go the paid live data ,and start agin.
Those times you posted for diff parts of trading day are they the right times as im way out if there right on what i thought they were ,according to cameron site ,they are as followws
pre open-9.40 am to 9.49.am
opening sesion- 9.50am to 10.00am
morn session-10.01am to 12.00pm
lunchtime-12.01pm to14.00pm
afternoon session-14.01pm to16.00pm
happy hour-16.01pm to 16.30pm
Nathan

 

[Bronte]

As for the trading sessions.
We have broken the day up as follows:
07.50AM to 08.15AM Open Session
08.15AM to 10.00AM Morning Session
09.45AM to 12.00AM Lunchtime
12.00AM to 02.00PM Afternoon Session
02.00PM to 02.30PM Happy Half Hour
Hope this helps.
We hardly ever trade the Lunchtime.

These are Perth times Nathan