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  1. #1

    Thumbs up Does anyone actually day trade the ASX?

    Hi All,

    I am currently full swing In studying day trading, though all of my reference material is based on the US Markets.

    With the ASX so illiquid in comparison, does anyone actually day trade this market? (Net losers, winners doesn't matter)

    If so I would LOVE to connect with someone and throw some questions to them.

    Thanks and GLTA,

    - The New Guy.

  2. #2

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    Hi All,

    I am currently full swing In studying day trading, though all of my reference material is based on the US Markets.

    With the ASX so illiquid in comparison, does anyone actually day trade this market? (Net losers, winners doesn't matter)

    If so I would LOVE to connect with someone and throw some questions to them.

    Thanks and GLTA,

    - The New Guy.
    Liquidity is king

    That's why the hang seng Dax and FTSE are preferred.

  3. #3

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    Hi All,

    I am currently full swing In studying day trading, though all of my reference material is based on the US Markets.
    Hello. Could you direct me to the U.S. based material you refer to please?
    "The common man is not concerned about the passage of time, the man of talent is driven by it."

  4. #4
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    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    Hi All,

    I am currently full swing In studying day trading, though all of my reference material is based on the US Markets.

    With the ASX so illiquid in comparison, does anyone actually day trade this market? (Net losers, winners doesn't matter)

    If so I would LOVE to connect with someone and throw some questions to them.

    Thanks and GLTA,

    - The New Guy.
    Most ASX equity traders I know trade a range of timeframes, including intraday trading. There are phases of the market where day trading will work well... like during reporting season, big macro news days etc. But there are other periods where opportunities are limited - that's why a suite of strategies and timeframes is typically used by a full time trader.

    Liquidity is important no doubt and is probably true that it is lower than US markets in comparison. But imo it's sufficient in most instances for someone starting out. BHP trades $20-30m a day and I'd be surprised if a sole trader find that to be constraining. A junior mining with a good drill hole can attract >$5m of value which again should be enough for most people.

    The bigger issue with ASX stock is the high commission charge (especially for retail traders) and the large spread in the <$2 stocks. These make profitable day trading much more difficult. The lack of shorting availability, even with the use of CFDs, can also be an issue.

    It all depends what you are trying to do. My opinion is that, making a living from solely day trading the ASX is certainly possible, but may not be the best use of your resources (time, capital and trading skill) during the quieter periods.

  5. #5

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Wysiwyg View Post
    Hello. Could you direct me to the U.S. based material you refer to please?
    Studying Material by Tim Sykes, Tim Grittani, Nathan Michaud, list goes on.

    I'm not saying that strategies and concepts don't work in Aussie Market obviously, But with liquidity as king, what realistic returns are competent traders making on our local markets?

    I hope I'm wrong and day traders in AUS are making solid returns, if so Id like to know but I'm not seeing the volatility or volume that the bigger playgrounds provide.

  6. #6

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    Studying Material by Tim Sykes, Tim Grittani, Nathan Michaud, list goes on.
    Have you done any research on them ? Tim Sykes is one of the biggest clown on the internet on "trading gurus". The latter 2 are his students - now turned "guru" selling services. Think about it..if Tim Syke's stuff works why do a lot of students turn into gurus selling trading services in a crowded penny stock market.

  7. #7

    Thumbs up Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by minwa View Post
    Have you done any research on them ? Tim Sykes is one of the biggest clown on the internet on "trading gurus". The latter 2 are his students - now turned "guru" selling services. Think about it..if Tim Syke's stuff works why do a lot of students turn into gurus selling trading services in a crowded penny stock market.
    You may be absolutely right, What have your findings been on Tim Sykes and the rest that contradict their claims? I am only a student so naturally I am very green, there is a high probability that I'm learning from the wrong sources which If I want to avoid at all costs. I fundamentally come from a Poker playing background and almost every attribute to success that is being taught in the stock markets is identical to that of long term poker playing success. Liquidity, Variance, Volatility, Bankroll Management, Sample sizes to accurately determine skill Vs short term luck factors, Risk to Reward ratios, fundamental + Technical Analysis.... everything.

    Please share where you would suggest a newcomer focus his/her attention as my only nemesis with this learning curve is time itself.

  8. #8

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    Studying Material by Tim Sykes, Tim Grittani, Nathan Michaud, list goes on.
    Yeah I like the Tim Grittani tubes. Not a hype man and walks through his trade thoughts. A natural temperament for the game and always open to improvement.
    "The common man is not concerned about the passage of time, the man of talent is driven by it."

  9. #9

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    You may be absolutely right, What have your findings been on Tim Sykes and the rest that contradict their claims? I am only a student so naturally I am very green, there is a high probability that I'm learning from the wrong sources which If I want to avoid at all costs. I fundamentally come from a Poker playing background and almost every attribute to success that is being taught in the stock markets is identical to that of long term poker playing success. Liquidity, Variance, Volatility, Bankroll Management, Sample sizes to accurately determine skill Vs short term luck factors, Risk to Reward ratios, fundamental + Technical Analysis.... everything.

    Please share where you would suggest a newcomer focus his/her attention as my only nemesis with this learning curve is time itself.
    Google Tim Sykes scam and you will find many pages dedicated to exposing him. I personally don't doubt he's made money trading - but he's now in the business of selling the dream that anyone can do it which is absolutely not the case especially in penny stocks.

    ts.jpg

    He makes fake images of himself to show that he's living a fake flashy lifestyle. Does someone who is really successful need to fake stuff ?

    Quite a few "where to begin" threads on the forum check them out if you want people's recommendation on where to begin.

  10. #10

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by minwa View Post
    Google Tim Sykes scam and you will find many pages dedicated to exposing him. I personally don't doubt he's made money trading - but he's now in the business of selling the dream that anyone can do it which is absolutely not the case especially in penny stocks.

    ts.jpg

    He makes fake images of himself to show that he's living a fake flashy lifestyle. Does someone who is really successful need to fake stuff ?

    Quite a few "where to begin" threads on the forum check them out if you want people's recommendation on where to begin.
    I already explored the Tim Sykes scam website and found that it was actually PRO Tim Sykes oddly enough if you go through it. I wasn't able to find anything debunking him or his gurus when I first heard about him, for this reason I started paying attention.

    There is so much noise when it comes to retail finance, and yes teaching may be more lucrative then actually doing. This is usually a sign that the skills being taught are becoming harder and harder to make an edge from, hence the most experienced transition to teaching the masses.

    Also that photo doesn't tell me anything, either one of those images could be the source of photo shopping depending on the agenda.

  11. #11

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    I already explored the Tim Sykes scam website and found that it was actually PRO Tim Sykes oddly enough if you go through it. I wasn't able to find anything debunking him or his gurus when I first heard about him, for this reason I started paying attention.

    There is so much noise when it comes to retail finance, and yes teaching may be more lucrative then actually doing. This is usually a sign that the skills being taught are becoming harder and harder to make an edge from, hence the most experienced transition to teaching the masses.

    Also that photo doesn't tell me anything, either one of those images could be the source of photo shopping depending on the agenda.
    OK if you've done the research and are happy with it then all the best. Many don't do the research at the very least.

    The photo is 2 photos posted by Sykes on his social media. One (or both) is faked. Why fake if you're a multi millionaire is the question on people's minds.

  12. #12

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    I already explored the Tim Sykes scam website and found that it was actually PRO Tim Sykes oddly enough if you go through it. I wasn't able to find anything debunking him or his gurus when I first heard about him, for this reason I started paying attention.

    There is so much noise when it comes to retail finance, and yes teaching may be more lucrative then actually doing. This is usually a sign that the skills being taught are becoming harder and harder to make an edge from, hence the most experienced transition to teaching the masses.

    Also that photo doesn't tell me anything, either one of those images could be the source of photo shopping depending on the agenda.
    Sykes does things that we can't replicate here. Basically he shorts over-hyped speccies. I believe he has done extremely well, but is also a very high pressure salesman. Not for me. Success isn't something you can sell to others.

  13. #13

    Default Re: Does anyone actually day trade the ASX?

    XJO/SPI/AUS200 is the best prospect to daytrade in australia imo , stocks not so good . Indice can get good leverage , daily ATR is reliable ( 2016 100 period average ranges between 58 and 77 ) , Algo trading relatively easily . Liquidity not an issue with SPI doing around 40k contracts most days . I wouldnt even look at daytrading ASX listed stocks

    just 30% of daily atr on 1 contract nets $500 , scale that up and its good


    ScreenShot1352.jpg
    I love Volatility , Best advice I can give any trader is get a handle on it ... Volatility is a MULTIPLIER ... make it your friend and it works for you , not against you ...

  14. #14

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Quant View Post
    I wouldnt even look at daytrading ASX listed stocks
    This is what I was thinking.

    Is there any way around the $10k minimum balance due to open international brokerage accounts that actually have live intraday data/charts?

    I called Commsec asking if they had a platform for international markets that showed live prices (Level 2 I believe it is referred as) and was told "refresh the page at the top of your browser when international trading page is open and it will show you the latest price, This is all we have". By her tone it didn't sound like she was joking.

    Note: I understood very little of the rest.

  15. #15

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    This is what I was thinking.

    Is there any way around the $10k minimum balance due to open international brokerage accounts that actually have live intraday data/charts?

    I called Commsec asking if they had a platform for international markets that showed live prices (Level 2 I believe it is referred as) and was told "refresh the page at the top of your browser when international trading page is open and it will show you the latest price, This is all we have". By her tone it didn't sound like she was joking.

    Note: I understood very little of the rest.
    HMM if you understood little of that i think you need a tad more education tbh

    IG cfd account probably your best bet with that limited account size
    I love Volatility , Best advice I can give any trader is get a handle on it ... Volatility is a MULTIPLIER ... make it your friend and it works for you , not against you ...

  16. #16

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    This is what I was thinking.

    Is there any way around the $10k minimum balance due to open international brokerage accounts that actually have live intraday data/charts?

    I called Commsec asking if they had a platform for international markets that showed live prices (Level 2 I believe it is referred as) and was told "refresh the page at the top of your browser when international trading page is open and it will show you the latest price, This is all we have". By her tone it didn't sound like she was joking.

    Note: I understood very little of the rest.

    This is quite amusing. You don't think there is enough liquidity for day trading on the ASX and you want to know where you can open an account with less than $10,000

  17. #17

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Habakkuk View Post
    This is quite amusing. You don't think there is enough liquidity for day trading on the ASX and you want to know where you can open an account with less than $10,000
    Well Sykes did it with a few thousand to millions

  18. #18

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Habakkuk View Post
    This is quite amusing. You don't think there is enough liquidity for day trading on the ASX and you want to know where you can open an account with less than $10,000
    Yes, although you may have misunderstood my post. I want to be able to view live intraday price action on US markets and with no intention of trading yet I'm querying if options are available where I don't need to fund an international account with most wanting minimum balances. IB for eg requires $10k.

  19. #19

    Default Re: Does anyone actually day trade the ASX?

    Quote Originally Posted by Kingofclubz View Post
    Yes, although you may have misunderstood my post. I want to be able to view live intraday price action on US markets and with no intention of trading yet I'm querying if options are available where I don't need to fund an international account with most wanting minimum balances. IB for eg requires $10k.
    http://au.investing.com/equities/apple-computer-inc , this site does live nasdaq stock charts in realtime if thats all you want
    I love Volatility , Best advice I can give any trader is get a handle on it ... Volatility is a MULTIPLIER ... make it your friend and it works for you , not against you ...

  20. #20
    CanOz's Avatar
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    Default Re: Does anyone actually day trade the ASX?

    SKC Says



    I looked at day-trading ASX equities, but the learning curve for me to switch from index futures to equities in day time frame was massive. SKC can correct me if i'm wrong but as a pro, he's spends more than 12 hours a day on that and a significant portion is fundamental research.

    If you're really interested in Day-trading ASX equities, then I'd PM SKC. He would have the most experience of anyone i know in the field. He is a true professional and a gentleman

    CanOz
    "Dump everything aggressively. Take the price to a place where it trades" - Michael Platt - Hedge Fund Market Wizards



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