Trading the SPI

mit · 27 July 2006

Ageo said:
not enough confirmation for me.

but i hope it free falls for both of our sake

This is only drinking money unfortunately. My real money is long shares so I'll have mixed feelings. Doesn't seem to be going anywhere at the moment

oops out at 4993.

MIT

Ageo · 27 July 2006

should have waited for confirmation and trigger so i closed for a 2 point loss (nothing).

Will wait for confirmation on next trade

Ageo · 27 July 2006

mit said:
This is only drinking money unfortunately. My real money is long shares so I'll have mixed feelings.

MIT

how many contracts you trading?

Sensei · 27 July 2006

They're are playing with it now .... sucking players in ... don't you hate it!

mit · 27 July 2006

Only 10 in the morning and 5 in the afternoon. I don't tend to like CMC very much and I have only around $5k in the account. I get it up to around $10k and take $5k out. Although, for the last month I have been playing the Aussie and it has been pretty profitable. I'm thinking of doing the risk properly and growing the account. I have been trying for around 1% a day. Total for today is $57 so I reached my target.

MIT

Ageo · 27 July 2006

Sensei said:
They're are playing with it now .... sucking players in ... don't you hate it!

sux dont it,

ahwell we can only play by there rules.

Ageo · 27 July 2006

mit said:
Only 10 in the morning and 5 in the afternoon. I don't tend to like CMC very much and I have only around $5k in the account. I get it up to around $10k and take $5k out. Although, for the last month I have been playing the Aussie and it has been pretty profitable. I'm thinking of doing the risk properly and growing the account. I have been trying for around 1% a day. Total for today is $57 so I reached my target.

MIT

nice work, if CMC had DMA it would be the best company i reckon, its the only thing that lets them down.

mit · 27 July 2006

Ageo said:
sux dont it,

ahwell we can only play by there rules.

Very unusual for there to be no late trend.

MIT

Ageo · 27 July 2006

mit said:
Very unusual for there to be no late trend.

MIT

i agree especially after how far the rally went.

Who knows!

Sensei · 27 July 2006

Ageo said:
nice work, if CMC had DMA it would be the best company i reckon, its the only thing that lets them down.

... and the fact you are trading on their terms

Ageo · 27 July 2006

Sensei said:
... and the fact you are trading on their terms

Sensei, because i dont hold positions overnight (hardly ever) it doesnt bother me to be spiked out.

So far its been profitable for me and i havent had a issue with price discrepency but its always good to know for liquidity purposes that DMA is at hand.

but so far im cool with everything

Sensei · 27 July 2006

Ageo said:
Sensei, because i dont hold positions overnight (hardly ever) it doesnt bother me to be spiked out.
So far its been profitable for me and i havent had a issue with price discrepency but its always good to know for liquidity purposes that DMA is at hand.
but so far im cool with everything

Ageo, always a case of best fit for one's trading style, cheers.

mit · 27 July 2006

I've been trading with them for 3 years and I know that all companies want to make money. Most companies make money by having happy customers but I think CMCs business model is to get lots of newby customers and blow them up. I have heard lots of profitable customers that have been targetted by CMC (20 minutes to get filled, getting requoted constantly).

Also when a group of people make money on certain kinds of trading they change the rules. The latest is the variable spreads for the sector indexes. If CMC hedged like they reckon they do then they wouldn't keep changing the rules.

I do like playing the A200 but as Sensei says it's on their terms. Sometimes this can be an advantage because I think they target stops etc but still must vaguely match the SPI CMC can get out of step and that's when you can make money.

MIT

mit · 27 July 2006

Sensei said:
... and the fact you are trading on their terms

To contradict what I just said I just compared the A200 against the SPI chart that Bronte posted earlier. Except for the price offset it seems to follow it pretty closely only varying by a few pips here and there. I suppose that it would have to really. If CMC tried to move from the SPI too much you could make money on a spread trade.

Although that one pip can make a difference if it just happens to hit where most people logically put their stops.

Which begs the question that if you are going to trade more than 25 A200 contracts why not trade the SPI and the brokerage is cheaper than the spread you have to pay with CMC (2 pips=$50 for 25 contracts).

MIT

Sensei · 27 July 2006

... missed the last 20min ... but one from left field ....
tomorrow watch 5028-30

Ageo · 27 July 2006

mit said:
To contradict what I just said I just compared the A200 against the SPI chart that Bronte posted earlier. Except for the price offset it seems to follow it pretty closely only varying by a few pips here and there. I suppose that it would have to really. If CMC tried to move from the SPI too much you could make money on a spread trade.

Although that one pip can make a difference if it just happens to hit where most people logically put their stops.

Which begs the question that if you are going to trade more than 25 A200 contracts why not trade the SPI and the brokerage is cheaper than the spread you have to pay with CMC (2 pips=$50 for 25 contracts).

MIT

i spose thow that the A200 is only 1 component i trade of CFD's. I trade many shares, sectors and commodoties so it gives me flexibility.

I could trade both futures and CFD's but then i would be confusing myself hehe

mit · 27 July 2006

So do I but trading just 25 contracts once a day on CMC is over $12500 a year. Saving over half of that would be like winning an extra 250 pips a year.

MIT

Ageo · 27 July 2006

atm im happy with that since if i have both futures and CFD's (2 different platforms) ill start to confuse myself and before you know it that 250 pips im saving will end up over 1000 pips loss by not focusing.

Im happy to pay it for the time being

onemore · 27 July 2006

mit said:
I just compared the A200 against the SPI chart that Bronte posted earlier. Except for the price offset it seems to follow it pretty closely only varying by a few pips here and there.

MIT

Mit i also have noticed that webb iress charts of the SPI ,are slightly diff than those free delayed charts that Bronte uses for her post.

I printed my webb iress charts one day and compared them with those Mann-FutureSource charts and some bars were different

ps And yes i was on the same timeframe

mit · 27 July 2006

Onemore,

That's interesting. I was comparing mainly to see what the Aussie200 was aligning with as it uses a MarketMaker, but I thought the spi is the spi and all sources should be the same. Is it possible for you to get a screen price of today's SPI (9:50 until 4:30). I would be interesting to line them up against each other. If the other one is free, I'll try to download it myself (How does Bronte trade from delayed charts?)

regards

Trading the SPI

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