When does the MINI SPI contract start trading?

Hopeful · 26 October 2006

Well, first of all I'm expressing a hope that SFE will launch one soon.

I'm a brilliant paper trader but a real suck-**** actual SPI trader - the reason is that $25 per tick scares the halloweens out of me! I'm over-sensitive to even small losses.

So, if there were a MINI SPI with $5 per tick I think I could quit my day job.

Or on the other hand, is there anything else I can trade based on the SPI that won't have me smashing my furniture should a ten-tick loss occur?

Bobby · 26 October 2006

Hopeful said:
Well, first of all I'm expressing a hope that SFE will launch one soon.

I'm a brilliant paper trader but a real suck-**** actual SPI trader - the reason is that $25 per tick scares the halloweens out of me! I'm over-sensitive to even small losses.

So, if there were a MINI SPI with $5 per tick I think I could quit my day job.

Or on the other hand, is there anything else I can trade based on the SPI that won't have me smashing my furniture should a ten-tick loss occur?

IG markets will let you trade a $5 a point contract based on the SPI, its got a 3 point spread in market & a 5 point out of market.

yogi-in-oz · 26 October 2006

Hopeful said:
Well, first of all I'm expressing a hope that SFE will launch one soon.

I'm a brilliant paper trader but a real suck-**** actual SPI trader - the reason is that $25 per tick scares the halloweens out of me! I'm over-sensitive to even small losses.

So, if there were a MINI SPI with $5 per tick I think I could quit my day job.

Or on the other hand, is there anything else I can trade based on the SPI that won't have me smashing my furniture should a ten-tick loss occur?

Hi Hopeful,

..... if a 10 point loss on the SPI scares you,
then you're trading the wrong markets, with
your emotions and you will NEVER win !~!

Repeat: "Scared money NEVER wins."

So, keep trading the stock market, until you learn
how to trade with your emotions intact ..... if not,
trading our SPI will likely be very stressful for you,
not giving you any rest, at all ... !~!

Take heart ..... not everybody was meant to trade
24-hour markets, like our Aussie SPI, anyway.

happy days

yogi

spitrader1 · 26 October 2006

Hopeful said:
Well, first of all I'm expressing a hope that SFE will launch one soon.

I'm a brilliant paper trader but a real suck-**** actual SPI trader - the reason is that $25 per tick scares the halloweens out of me! I'm over-sensitive to even small losses.

So, if there were a MINI SPI with $5 per tick I think I could quit my day job.

Or on the other hand, is there anything else I can trade based on the SPI that won't have me smashing my furniture should a ten-tick loss occur?

if 25.00 a tick scares you, so should 5.00. the spi is not something to taken on with fear or doubt in the back of your mind.

happytrader · 26 October 2006

Hopeful said:
Well, first of all I'm expressing a hope that SFE will launch one soon.

I'm a brilliant paper trader but a real suck-**** actual SPI trader - the reason is that $25 per tick scares the halloweens out of me! I'm over-sensitive to even small losses.

So, if there were a MINI SPI with $5 per tick I think I could quit my day job.

Or on the other hand, is there anything else I can trade based on the SPI that won't have me smashing my furniture should a ten-tick loss occur?

Hi Hopeful

Looks like your paper trading is revealing to you really useful information. Maybe you could ask yourself why you are allowing yourself to be distracted away from your purpose of 'giving up your day job' by small losses.

Cheers
Happytrader

Hopeful · 31 October 2006

Bobby said:
IG markets will let you trade a $5 a point contract based on the SPI, its got a 3 point spread in market & a 5 point out of market.

That's daylight robbery! You'd have to make 8 points just to break even, crikey! Which poor fools are using IG? Pity them and their short trading careers.

CMC seem to be a much better deal - they have a two-point spread and no commissions.

DT_Futures · 9 November 2006

dont quit your job
to make a living trading you ned more then $5 a contract...

emotion is everything...

trade the dow if you want lower points $5 a point per contract, commisions are as low as 1.13 if you get the right broker.

good luck

>Apocalypto< · 5 February 2007

the above posts are a wealth of knowledge please take all of that information to heart.

all i can say is paper trading is nothing to the real thing!

good trading hopeful

Hopeful · 16 February 2007

DT_Futures said:
dont quit your job
to make a living trading you ned more then $5 a contract...

emotion is everything...

trade the dow if you want lower points $5 a point per contract, commisions are as low as 1.13 if you get the right broker.

good luck

I wouldn't agree that $5 per tick is necessarily insufficient, would depend on your strike rate , average number of tick gains versus losses, and the other usual factors. But anyway you are missing the point ie that with $5 ticks my emotions don't trump my trading method. The :fan when your guts rules the way you trade rather than sticking with your plan.

Case in point: I've recently been trading the Mini Nasdaq futures with some encouraging results (based on an admittedly very small sample of trades so far). It moves enough such that at even $5 per tick gives a decent return on a decent intra-day run, but the $ value of stop losses are small enough not to make me and go nuts doubling up to recover losses (hey, done that too recently on the SPY futures!).

Pager · 16 February 2007

My

At $5 a tick you would need brokerage of no more than $2 per side to make it worthwhile.

Not sure how liquid a $5 contract would be, can’t see any of the major players showing any interest so maybe some big spreads and low volume for trading which wouldn’t be good.

The Spi is by comparison to other futures markets is a pussycat contract to trade, most days slippage is minimal, there’s always a good amount of contracts on the bid and offer and spreads usually only 1 point, this is for the day session, the night session is a different kettle of fish.

If $25 a point on the Spi is frightening don’t even contemplate the Hang Seng , tick size is only a bit higher but boy does this market move on occasion, get the wrong side of such a move and the word “slaughtered” would be appropriate for the slippage you get stung with.

Cheers

Pager

professor_frink · 16 February 2007

I agree pager- can't see there being much volume on a mini spi.

Hopeful,
Between the mini nikkei and the mini HSI there shouldn't be a problem finding trades at all during the day!

Pager said:
If $25 a point on the Spi is frightening don’t even contemplate the Hang Seng , tick size is only a bit higher but boy does this market move on occasion, get the wrong side of such a move and the word “slaughtered” would be appropriate for the slippage you get stung with.

The mini contract could be a good place to start to get a feel for this market Pager(if your interested of course)- it's 1/5th the size of the full one, so it won't burn you too bad while you get a feel for how the market moves.

Pager · 16 February 2007

professor_frink said:
The mini contract could be a good place to start to get a feel for this market Pager(if your interested of course)- it's 1/5th the size of the full one, so it won't burn you too bad while you get a feel for how the market moves.

Thanks prof but im already trading the Hang Seng, my slippage comments were from experiance, still with the slippage it can be a great contract to trade, get the right side of one of its directional moves and boy can you make a quid .

professor_frink · 16 February 2007

Pager said:
Thanks prof but im already trading the Hang Seng, my slippage comments were from experiance, still with the slippage it can be a great contract to trade, get the right side of one of its directional moves and boy can you make a quid .

Sorry Pager I didn't know

Yeah the slippage thing is something that worries me a little(I'm still on my 'L' plates with the HSI).

So far I haven't experienced much in the way of slippage yet, though I'm only entering on limit orders, and haven't been chasing it if it runs away from where I want to enter.I've copped 2 points max slippage on a stop order, which has been good(or lucky, I'm not sure which yet )

Hopefully it will be a while before I step in front of one of these massive moves(fingers crossed!)

Pager · 16 February 2007

professor_frink said:
Sorry Pager I didn't know

Yeah the slippage thing is something that worries me a little(I'm still on my 'L' plates with the HSI).

So far I haven't experienced much in the way of slippage yet, though I'm only entering on limit orders, and haven't been chasing it if it runs away from where I want to enter.I've copped 2 points max slippage on a stop order, which has been good(or lucky, I'm not sure which yet )

Hopefully it will be a while before I step in front of one of these massive moves(fingers crossed!)

Good luck with the HS, if you have only copped 2 points that is very good going for this market, be prepared as i guarantee you this market will get you one day, about 2 weeks ago i got slipped 60 points thats on top of my original stop , on the flip side it can move hundreds of points in just a few minuetes or less.

Cheers

Pager

professor_frink · 16 February 2007

Pager said:
Good luck with the HS, if you have only copped 2 points that is very good going for this market, be prepared as i guarantee you this market will get you 1 day, about 2 weeks ago i got slipped 60 points thats on top of my original stop , on the flip side it can put on hundreds of points in just a couple of hours or less.

Cheers

Pager

gee I hope it's a long, long time before that happens to me!

If you don't mind me asking what date was that?

Pager · 16 February 2007

professor_frink said:
gee I hope it's a long, long time before that happens to me!

If you don't mind me asking what date was that?

Hi prof, more than a couple of weeks, time flys eh

Friday 5th January got caught long and a short sweep order took all the longs to the cleaners

Market then rcovered and ended the day up a couple of hundred points

professor_frink · 16 February 2007

Pager said:
Hi prof, more than a couple of weeks, time flys eh

Friday 5th January got caught short

ahh- vicious spike around 2:30 maybe?? It kind of stands out on that day!

It's spikes like that, that show up all to regularly, that made my mind up not to try and adapt my spi/nik system for the HSI- I'd get caught out on those moves quite often! Had to go back to the beginning and design a method from scratch that tries to avoid that-god I hope I've succeeded!

anyhow- gotta run, the girlfriend will be getting angry if I'm not off the computer soon

Pager · 16 February 2007

You just missed my edit prof , was actually at the start of trade and i was long off the open.

You must have tick data ?.

cheers

Pager

professor_frink · 16 February 2007

Pager said:
You just missed my edit prof , was actually at the start of trade and i was long off the open.

You must have tick data ?.

cheers

Pager

oh ok-that's an even worse spike

Not pure tick data- just collect IB's data in amibroker(my main database is in 1 minute intervals unfortunately-I've had to set another one up that stores data in 15 second intervals for my move into the HSI.

Hopeful · 18 February 2007

I did trade the Nikkei for a while, I traded the 500-yen-per-tick one in Japan on the Japanese market, but I found it to be hard to trade - liquidity was good but range was slow and tight. I gave it up.

Is the mini nikkei you speak of like that? Which exchange, what code? Thanks

When does the MINI SPI contract start trading?

Hopeful

Bobby

yogi-in-oz

spitrader1

happytrader

Hopeful

DT_Futures

>Apocalypto<

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