Hi guys,
Ive recently started to trade the MHI as the first step before moving over to the HSI.
I primarily traded fx for several years however the low volatility and long hours waiting for a move was draining.
I find the HSI very technical in its moves, plenty of volatility in the session to make plenty of points BUT it's fast and sometimes brutal hence I'm sticking with MHI until I have a good track record.
I use IB and Ninjatrader. I only use a 1min and a Range 2 tick chart. Main tools are price levels, pivots, hand drawn trendlines. I basically look at how price reacts around certain levels, i generally have a very tight stop of 10points as i expect the trade to immediately keep moving in the trade direction. Exits are similar but I find much harder as knowing when to let it run becuse this instrument likes to run
So to the reason for the post.
My main questions for the experienced HSI traders here are around the Risk of trading the HSI? Such as Max slippage moves that can occur, exchange goes offline - what happens to open positions stops targets etc, the absolute do's and dont's specific to the HSI, whether to hold an open position through the lunch hour, etc
Thanks
edit: also in regards to commission, am I correct that with IB using Tiered commission is the lowest cost option. I have calculated a RT on 1 contract on HSI is approx 40hkd as opposed to the fixed commission which is 60hkd?