Trading the SPI

iSPI · 2 October 2006

Bobby said:
Hello iSPI,

Thank you for the above information, I guess your worry is a gap down opening tomorrow.
Hope this trade works well for you

Regards
Bob.

Hi Bob,
I am becoming accustomed to Gaps, as long as I walk away with some profit
I'll be happy.
Regards
iSPI

Bobby · 2 October 2006

iSPI said:
Hi Bob,
I am becoming accustomed to Gaps, as long as I walk away with some profit
I'll be happy.
Regards
iSPI

Nice to know you can handle those gaps iSPI.

If your form of T/A can handle some of the interesting moves the SPI does, like the big mechanical systems firing ice'berg orders with auto replacement,
then your doing well.

Cheers Bob.

iSPI · 3 October 2006

Bobby said:
Nice to know you can handle those gaps iSPI.

If your form of T/A can handle some of the interesting moves the SPI does, like the big mechanical systems firing ice'berg orders with auto replacement,
then your doing well.

Cheers Bob.

Bob,

By using a combined day and night session charts there really is no Gaps !
Normally I believe in addressing fears/concerns so I feel a little bit like I have avoided the whole thing, however seeing so far my strategy has made me and saved me money I'll say my approach is sensible rather then "chicken"

Thats very interesting comment about ice berg orders can you shed any light on what you mean by auto replacement?

Regards

iSPI

Paulie · 3 October 2006

Bob,

My indicators just gave me another sell signal ~ 5170-75.

See how this one goes

Bobby · 3 October 2006

iSPI said:
Bob,

Thats very interesting comment about ice berg orders can you shed any light on what you mean by auto replacement?

Regards

iSPI

Hi iSPI,

As you know an iceberg order is just a large order with just the tip visable.
Now what happens is ~ something like this, an order of say 300 is split over 3 brokers then scaled into 10 lots at a time, as each block is done its replaced by automatic electronic replenishment Instantly ! until the order is all done.

Have fun
Bob.

Bobby · 3 October 2006

Paulie said:
Bob,

My indicators just gave me another sell signal ~ 5170-75.

See how this one goes

Hello Paulie,

Yep it sure looks like that to me also .

But becareful of what I say as I no nothing
Good luck.

Bob.

iSPI · 3 October 2006

Bobby said:
Hi iSPI,

As you know an iceberg order is just a large order with just the tip visable.
Now what happens is ~ something like this, an order of say 300 is split over 3 brokers then scaled into 10 lots at a time, as each block is done its replaced by automatic electronic replenishment Instantly ! until the order is all done.

Have fun
Bob.

Thanks for the info Bob,

I'm out of my trade at 5159
simply a case of my trailing stop got hit
of course it went just enough to hit my stop but no reason to be unhappy

NO signal to go short yet..

Regards

iSPI

Bobby · 3 October 2006

iSPI said:
Thanks for the info Bob,

I'm out of my trade at 5159
simply a case of my trailing stop got hit
of course it went just enough to hit my stop but no reason to be unhappy

NO signal to go short yet..

Regards

iSPI

Well iSPI I think you did great !
5 contracts bought at 5019 - out at 5159 = 700 points x $25 =$17500 ~ less brokerage.

I noticed it just took out your stop , then back up again
But real nice trade !

Cheers
Bob.

iSPI · 3 October 2006

Bobby said:
Well iSPI I think you did great !
5 contracts bought at 5019 - out at 5159 = 700 points x $25 =$17500 ~ less brokerage.

I noticed it just took out your stop , then back up again
But real nice trade !

Cheers
Bob.

Thanks Bob,

Yes it did only just take out my stop, that seems to be pretty typical
if you look at a 24 hour chart you'll see my entry of 5019 was the high of
the bar

Anyone who is wondering if TA works? I can assure you it works for me

Bobby · 3 October 2006

iSPI said:
Thanks Bob,

Yes it did only just take out my stop, that seems to be pretty typical
if you look at a 24 hour chart you'll see my entry of 5019 was the high of
the bar

Anyone who is wondering if TA works? I can assure you it works for me

Hello iSPI,

What I liked about your trade was the stated entry then exit, plus contract numbers 5.
Now as for your use of T/A, I'm thinking you have something or you were lucky, only you know.
Care to comment?

Regards
Bob.

iSPI · 4 October 2006

Bobby said:
Hello iSPI,

What I liked about your trade was the stated entry then exit, plus contract numbers 5.
Now as for your use of T/A, I'm thinking you have something or you were lucky, only you know.
Care to comment?

Regards
Bob.

Bob,

I have traded this signal 6 times, 5 winners 1 loss since June 2006
I'm happy to provide entry and exit if it doesn't bother people
that I am posting historical trades.
Trades were both long and short.
The 2 latest trades I posted as they happened so to speak

So it is possible I have been very lucky and "guessed" which is unlikely
it is also possible the system just happens to fit in with the current market
in which case I am lucky but as the market changes my system could crash and burn.

I do have other systems I trade but they have not been anywhere as successful has this one.

Anyone reading this should take careful note, DO NOT trade using my posts here you are entirely responsible for your own actions!

I'm happy to post future trades here if you like.

Cheers
iSPI

iSPI · 4 October 2006

Selling 5 at the open, stop loss 5209.

spitrader1 · 4 October 2006

iSPI said:
Selling 5 at the open, stop loss 5209.

did u buy them back ispi??

Euler · 4 October 2006

iSPI said:
I'm happy to post future trades here if you like.

Please do iSPI ... will be educational to see a system at work "live".

iSPI said:
Selling 5 at the open, stop loss 5209.

Looks like it hit resistance at low 5180's and may come good. I shorted at 5167 but bailed out as it turned to the up side as my tolerance level isn't as high as yours. Good luck with yr trade ... it has a good probability of success.

iSPI · 4 October 2006

spitrader1 said:
did u buy them back ispi??

Hi spitrader, nope I'm still short and my stop loss has not been moved.

iSPI · 4 October 2006

Euler said:
Please do iSPI ... will be educational to see a system at work "live".

Looks like it hit resistance at low 5180's and may come good. I shorted at 5167 but bailed out as it turned to the up side as my tolerance level isn't as high as yours. Good luck with yr trade ... it has a good probability of success.

Thanks Euler

I took this trade early, I usually have 2 entry points.
1 entry is riskier but has obviously the potential for greater profit
my fill was at 5175.

Selling the open was the early (riskier) entry.
The safer entry is 5149.

Regards

iSPI

Euler · 4 October 2006

iSPI said:
By using a combined day and night session charts there really is no Gaps !

Can you reliably use the SYCOM session when relative volume is low and prices can be at the mercy of large players who can then move price whichever way they like? Also what time frame do you look at when assessing a potential steup?

( ... having said that ... I use continuous swing charts to track both sessions and what would look like a massive gap on day data looks like a normal swing on the combined)

iSPI · 4 October 2006

Euler said:
1:Can you reliably use the SYCOM session when relative volume is low and prices can be at the mercy of large players who can then move price whichever way they like?

2: Also what time frame do you look at when assessing a potential steup?

( ... having said that ... I use continuous swing charts to track both sessions and what would look like a massive gap on day data looks like a normal swing on the combined)

1: Sycom does some wierd things thats for sure.
Is it reliable? it has been for me.
I was taught to ignore sycom and don't even put a stop loss on overnight
thats just plain crazy.
I haven't tried this system intraday (but I do plan to) previous systems
did not make sufficient profit intraday so I had to hold overnight.
I found often my profit target was hit overnight but I missed it.
Since Sycom is going to impact my trade I think I was silly for ignoring it.
I'm not sure if the big players actually trade the night session...

2: I use a EOD data for setups and also use weekly data as well.
Depending on work I sometimes use a 5 or 15 minute swing to exit
if I am approaching a time target

Regards
iSPI

spitrader1 · 4 October 2006

iSPI said:
1: Sycom does some wierd things thats for sure.
Is it reliable? it has been for me.
I was taught to ignore sycom and don't even put a stop loss on overnight
thats just plain crazy.
I haven't tried this system intraday (but I do plan to) previous systems
did not make sufficient profit intraday so I had to hold overnight.
I found often my profit target was hit overnight but I missed it.
Since Sycom is going to impact my trade I think I was silly for ignoring it.
I'm not sure if the big players actually trade the night session...

2: I use a EOD data for setups and also use weekly data as well.
Depending on work I sometimes use a 5 or 15 minute swing to exit
if I am approaching a time target

Regards
iSPI

just so you know ispi the bigger players definately play at night, especially when the london and newyork markets are open...there are plenty of people who take a swing in the adr/dlc market and then use the futures to hedge, so you still find people who are trying to trade size. Problem is, as you say, it is illiquid as hell, so if the trader needs to get set, they are not worried about paying thru the offer for 3 or 4 ticks or selling thru the bid etc

spitrader1 · 4 October 2006

iSPI said:
1: Sycom does some wierd things thats for sure.
Is it reliable? it has been for me.
I was taught to ignore sycom and don't even put a stop loss on overnight
thats just plain crazy.
I haven't tried this system intraday (but I do plan to) previous systems
did not make sufficient profit intraday so I had to hold overnight.
I found often my profit target was hit overnight but I missed it.
Since Sycom is going to impact my trade I think I was silly for ignoring it.
I'm not sure if the big players actually trade the night session...

2: I use a EOD data for setups and also use weekly data as well.
Depending on work I sometimes use a 5 or 15 minute swing to exit
if I am approaching a time target

Regards
iSPI

ps..well done on ure short call and not buying back, the market certainly did tip over into the close!!

Trading the SPI

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