Trading The SPI (Open)

Bronte said:

Selling: 5366 Lmt

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Bronte said:

NYSE Dow Jones Finished up +88.97 points.
SPI Sycom Closed at 5362
Targets: 5366

Double Bottom: 5302/03 5290
Double Tops: 5372 5369 (Sycom)
Gaps to close: 5377 low 5364 High
Directional Day due ? ...... maybe not today.
Time frame Low Monday.

Selling: 5366 Lmt

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Bronte said:

Keep an eye on my Targets
They make great Support / Resistance areas.

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Bronte said:

So we have: Pre Open Foresight orders.

Stoploss of: -8 max on confirmation of Open (RISK)

Targets of: +8 plus (REWARD)

Support and Resistance areas.

Great RISK : REWARD Money Management. (BE asap)

High Successs Rate, considering this is 'THE OPEN' on 'THE SPI'

Analysis: Tops, Bottoms, Gaps, Sycom, Ranges, D/days, TIME, etc.........

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Bronte said:

Those Targets T work well

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Bronte said:

On 13th July 2005 at 07:31 AM

We posted this here at: Aussie Stock Forums:

'Buy Low and Sell High'

This simply means that you identify an area of Support.
ie Gann, Fibonacci, previous proven area - double bottoms, 50% etc
Buy low when the market is moving away from this area.
Place a stoploss a few points away (under the area of Support)
If you are wrong happily take a small loss or reverse.
When right use a trailing stoploss to take a large profit,
when the market turns.

Or trade to:

'Sell High and Buy Low''

This simply means that you identify an area of Resistance.
ie Gann, Fibonacci, previous proven areas - double tops, 50% etc
Sell high when the market is moving away from this area.
Place a stoploss a few points away (above the area of Resistance)
If you are wrong happily take a small loss or reverse.
When right use a trailing stoploss to take a large profit,
when the market turns.

This is trading 'What you see' with great 'Risk Management'

-------------------------------------------------------------------

For Educational Purposes only.

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Bronte said:

Thanks for the reply fiftyeight.

We couldn't logon to IB first thing this morning. (6.45 am WST)

This seems to be happening on a regular basis. (this year at least)

We are also experiencing very slow fills, or at least slow confirmations.

Anyone else having troubles ??????

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>Apocalypto< said:

You're trading to well Bronte, they're on to you!

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Bronte said:

We have learnt that 'Greed' is one of the Seven deadly sins.

This is very important to us when 'Trading The SPI'

Happy to make our target and then..... do whatever.

http://en.wikipedia.org/wiki/Seven_deadly_sins

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dlineinvestor said:

Hello Bronte,
Welcome back ...
Show us what you've been up to today (chart)
Did you leave much on the table, is that what you mean ?
all in jest
Cheers

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Bronte said:

It is often quoted that the SPI is "Opened by amateurs, closed by professionals"

My intention is to use this thread as a place for preopen SPI discussion.

Any / all market calls will be made before the SPI opens. 09:49:30

A maximum Stoploss of eight points will be used, at all times.

Only the exits will be live.

All SPI traders are welcome to post.

Please enjoy......

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