Trading from Australia was always going to be different than trading the European Index Futures. I knew that the SPI had limited liquidity and went dead from lunch until the close. I didn't know how i would cope with that. For me, i like fast markets, the activity forces me to focus, its just who i am. I need activity, otherwise i just cannot maintain the intense focus required. Some people like EOD, i like Intra-day.
The SPI is ok for the first 2 hours, its got enough liquidity that you can see in the order book and make decisions with. There's a couple of swings, but really only one or two opportunities and then its over if your not already involved. After lunch it goes to sleep most days. Even when the other markets are moving, it could be just sitting there...then all of the sudden a heap of order sweep the book. At least with equities you might get several trades on during the AM session, a few might stick for the rest of the day. The HKFE just doesn't have the longer term data available for me to do the kind of in depth analysis i like to to in order to develop trade ideas. It might, later with TT.
I'm going to try and get data for the OSE NK mini contract, which is supposed to be Asia's most liquid futures contract, AMP just offered that last night.
So now i am seriously researching the switch to ASX Equities with an intra-day focus.
There are guys doing this successfully now, such as Bryce Edwards (Chat with Traders Interview). Propex also have equity desks setup and as far as i know, these are the bulk of their outright trading activities, the rest are mainly spreads. I've actually applied to Propex for their Gold Coast office equity training program. Hopefully i'll at least get an interview.
There's going to be a learning curve here. Anyone who is already trading intra-day stocks for a living, i would be very grateful for any advice.
I've downloaded a trial of Spark and i am setting Amibroker for IB's API.
I need to discover how to build a list of stocks to watch, this will require some early morning research.
I'll post my progress here, i'll spend a few days deciding if i want to go further with this or not.