Getting feel for SPI open action?

Trembling Hand · 11 May 2009

holyGrill said:
unfortunately I dont have any read(?)/stats/backtesting results on these events. I read somewhere on here or eliteTrader (cant remember which) that the aussie200 follows S/R like a glove which I guess somehow I equated this with breakouts

Will take your word for it that they don't occur very often. I cant really afford to test the theory for much longer - not with real $ anyway.

I can't think of any high-probability scenario that'll push the market 20 - 40 pts ... unless a pre-open (< 7am) can be entered but so much scope for news to come out in the meantime ... risky risky risky i've gotten burnt a couple of times (too much warmth)

hG

boy oh boy!!

And people ask why I have permanent PMT??

Aussiest · 11 May 2009

holyGrill said:
0.1 of a mini? How do I enable this on IG? I thought $5/pt was the smallest one could trade ... ?
(i use the web-based PureDeal btw - that what you're using?)

sounds like a good idea!

I think it's a good idea!

I use PureDeal for some of my trading as well.

Go to Navigate > Indices > Stock Indices > Australia

And then you'll get the screen that has the 'Australia 200 Cash' contracts.

Look at Australia 200 Cash (A$5 Mini Contract). According to my calculations, 0.1 of a mini contract should be $0.50 per pip. Chicken feed i know, but good if you're wanting to get the feel for it.

Also, try to trade it as you would with more funds. Eg, set your entry (find reasons), stop loss and profit expectation (estimated exit point).

Trembling Hand · 11 May 2009

Aussiest said:
Look at Australia 200 Cash (A$5 Mini Contract). According to my calculations, it should be $0.50 per pip. Chicken feed i know, but good if you're wanting to get the feel for it.

$5 contract is $5 a tick

Aussiest · 11 May 2009

Trembling Hand said:
$5 contract is $5 a tick

Oops, yes. Just edited, sorry. Meant to be 0.1 of a mini is $0.50..

Trembling Hand · 11 May 2009

Aussiest said:
Oops, yes. Just edited, sorry. Meant to be 0.1 of a mini is $0.50..

But you cannot trade less than a full contract

holyGrill · 11 May 2009

where do you get 0.1 of a mini ($5.00/contract) from?

The Aussie200 is $25/contract
The mini is $5/contract

I think you've got it confused, like a mini on the mini ... (which doesn't exist, does it?)

Aussiest said:
Oops, yes. Just edited, sorry. Meant to be 0.1 of a mini is $0.50..

Aussiest · 11 May 2009

holyGrill said:
where do you get 0.1 of a mini ($5.00/contract) from?

The Aussie200 is $25/contract
The mini is $5/contract

I think you've got it confused, like a mini on the mini ... (which doesn't exist, does it?)

No, on my system you can get increments of contracts, eg, an increment of 0.1 of a contract. But, then again, i've got TradeSense enabled. Will post a JPEG in a minute. You can definately get 0.1 of a mini with IG.

holyGrill · 11 May 2009

Lol

Trembling Hand said:
boy oh boy!!

And people ask why I have permanent PMT??

Aussiest · 11 May 2009

nomore4s · 11 May 2009

Trembling Hand said:
boy oh boy!!

And people ask why I have permanent PMT??

I just thought you weren't getting enough:

Is it little wonder so few people succeed at this game, when so few are willing to put in the hard work themselves and find their own edge.

Aussiest, on my platform you can only trade 1 full contract. Is that off the demo account or the full account?

Aussiest · 11 May 2009

nomore4s said:
Is that off the demo account or the full account?

It's a non-demo account. When i signed up i selected the "TradeSense" option, which enables you to deal in increments of contracts for the first 6 weeks. I don't think you can activate TradeSense once you have a full account though.

holyGrill · 11 May 2009

yup unfortunately that's right ...

Dear Mr. holyGrill

Thank you for your email.

I just sent you an email regarding the issue with trailing stops.

Regarding tradesense, it is an educational tool for new clients with us which only lasts six weeks. Unfortunately you would not be suitable for tradesense.

If you have any further queries please do not hesitate to contact us.

Kind regards,

Niamh Kelly
IG Markets Ltd (Australia) Client Services IG Markets Ltd | Level 7 | ...

Bobby · 11 May 2009

So thats one tenth of a $5 mini contract , gees .50 cents a point !

What will they offer next ?

Maybe the super dooper ~ teeny weenie mini micro 1/100 contract for .05 cents

beamstas · 11 May 2009

If you can't afford $5 a tick you shouldn't be trading the SPI

But if you really must you can trade SPI CFD's which are simply $1 a tick

Cheers
Brad

holyGrill · 12 May 2009

$1/tick SPI, which contract is that? not on IG?

beamstas said:
If you can't afford $5 a tick you shouldn't be trading the SPI

But if you really must you can trade SPI CFD's which are simply $1 a tick

Cheers
Brad

holyGrill · 18 May 2009

not to have a bitch but the 3 - 5 second lag in getting filled on the CFD $5mini is screwing me over in addition to the extra point spread.

And occasionally when I'm supposed to get a nice fill, 'conveniently' the 'price is no longer valid' ... !!!!!!!!!!!!

Can see why IG is making alot of money off people ...

there's my rant for today!

hG

Getting feel for SPI open action?

Trembling Hand

Can be found on the bid

Aussiest

Trembling Hand

Can be found on the bid

Aussiest

Trembling Hand

Can be found on the bid

holyGrill

Aussiest

holyGrill

Aussiest

nomore4s

Commonsense isn't that common

Aussiest

holyGrill

Bobby

beamstas

holyGrill

holyGrill

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