Thought I might post some ongoing results of a strategy I run on the SPI. Lots of comments this year about this market being too hard to make money in and TA not working anymore and FA blah blah blah.....but for me this is the best of times. It wasn’t that long ago the SPI would be having a big day if it had a 40 point range. Now that’s just about the average range for the first 10 minutes. I am finding more and more opportunities in this mess.
My trading is all scalping in the true sense. I have no targets but rather aim for entries on counter ticks to small patterns I see repeating in whatever instrument I trade, in this case it’s a SPI linked CFD and once in a trade will flip out of it on just about any tick against me until it’s a good 10 points or more in my favour then if I think it might be a runner I will trail a stop. But to be honest my head is so wired to flipping I’m more than happy to take 10 ticks and close the trade. Because this uses CFDs and you are down 2 points on any entry my initial stop is only a tick. Of course I have many trades that lose more than that but I don’t let a couple of bigger than expected losses upset me. I just keep plugging away.
The trades I am posting are from one of many strategies I trade. This one is called the Nothing to something scalping system. I do lots more volume in the Futs but I trade more CFDs on the open and close as a warm up. This stops me from blowing my daily stop on a couple of sh!tty big volume trades on the open. I will use much larger volume in the futs mainly because the CFD providers close me down too soon if I hit them with big volume and secondly I’m normally trading very small amounts of friend’s money with the CFDs. Which is what I am doing with this account. I will be ramping up the lot sizes almost daily so it’s will be interesting to watch what can be done as far as aggressive trading goes.
Just to be clear these results are from the first 10 to 20 min on the open and close each day. After the open I move on to trading just the SPI and HSI futs where I get really busy.
Also these are small but real money accounts not demo, I will send statements to some Mods to verify that I’m not full of BS.
The amounts in these accounts are tiny % of my total trading capital.
The point of the thread is to show what I believe mostly lacking in trading info. That is that you are better off being creative and developing your own approach rather than following “accepted wisdom” and trying to imitate a guru’s method.
So here are yesterdays and today’s results.