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Wanted - Australian SPI traders
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Wanted - Australian SPI traders

  #41 (permalink)
Elite Member
Melbourne, Australia
 
Futures Experience: Advanced
Platform: Multicharts, Esignal, Amibroker
Broker/Data: CQG/AMP, IB, DTN-IQ Feed
Favorite Futures: SPI, EMD, CL, S
 
Posts: 39 since Oct 2013
Thanks: 5 given, 29 received


pinozi View Post
Hi All

I'm a long time trader on the SPI and was looking at trying to get market profile, volume profile and footprint charts on the SPI

At the moment thinking of using esignal for the data feed and sierra charts to draw

Does anyone else here have any experience in using other programs like say market delta or ninja trader to trade the SPI and use studies like the ones I mentioned above?

Cheers

pinozi

You could also try MC.Net they have very customisable charts that look very nice and crisp and also have both Volume profile and Volume Delta/Footprint, although I find that the Volume Delta/Footprint charts don't work to well on the SPI but they work well on the ES. I agree with Matzz, esignal is way overpriced not to mention Volume Delta comes at an additional cost on esignal.

Here's a pic of a Volume Profile chart on Multicharts
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Here's a pic of some DOM's with Volume Profile on Multicharts.Net
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My advice would be don't worry to much about volume delta/footprint charts if you want to master order flow trading I would recommend looking at Jigsawtrader which is now an add-on to MC.Net. This is just my personal opinion but I have spent alot of time looking at footprint charts and I think a platform like Jigsaw will give you way more of an advantage.

BTW These pics are compressed and look way nicer on the actual platform.

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  #42 (permalink)
Trading Apprentice
auckland, new zealand
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 3 since Dec 2014
Thanks: 4 given, 0 received

Hi Guys…I have a couple of newbie questions – I’m studying the SPI at the moment. How do you trade the SPI without stops? I just found out that the SFE only supports limit orders. I look at price action so my entries and exits rely on stop orders most of the time. Don’t you run the risk of not being filled on a limit order? And what would you suggest to be the best way to exit a losing trade without being able to use a stop loss?

I would also like to know anyone’s experience with AMP/CQG/Multicharts combo for tick charts. I would prefer Ninjatrader but Ninja brokerage doesn’t offer the SPI.

Any advice would be greatly appreciated!

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  #43 (permalink)
Trading Apprentice
Sydney, Australia
 
Futures Experience: Intermediate
Platform: Sierra, Ninja
Favorite Futures: SPI
 
Posts: 6 since Apr 2015
Thanks: 5 given, 0 received


Thanks for the input guys

Looks like the easiest solution is to open an account with AMP and use their multicharts offer

What kind of brokerage do they charge for most contracts - I tried to find it on their site but you need to send an enquiry. I intend to start doing around 100 RTs per month

Also how is it trading the SPI through them in terms of execution? and also what kind of fees and mark ups do they charge when you have hold balances in AUD & USD?

Cheers

Pinozi

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  #44 (permalink)
Elite Member
Melbourne, Australia
 
Futures Experience: Advanced
Platform: Multicharts, Esignal, Amibroker
Broker/Data: CQG/AMP, IB, DTN-IQ Feed
Favorite Futures: SPI, EMD, CL, S
 
Posts: 39 since Oct 2013
Thanks: 5 given, 29 received


pinozi View Post
Thanks for the input guys

Looks like the easiest solution is to open an account with AMP and use their multicharts offer

What kind of brokerage do they charge for most contracts - I tried to find it on their site but you need to send an enquiry. I intend to start doing around 100 RTs per month

Also how is it trading the SPI through them in terms of execution? and also what kind of fees and mark ups do they charge when you have hold balances in AUD & USD?

Cheers

Pinozi

You will only get a tier based discount if your doing more than a 1,000 Round turns a month with AMP. But If your account is $10,000 a round turn on the SPI will cost around $3.04 which is pretty good when IB is $10 I think. With AMP in terms of cheapest cost it's best to have an account with minimum $10,000. CME market data bundle is $15 a month with AMP when SFE data alone with IB (interactive Brokers) is around $65 which includes Options, AMP does't offer Options or Spreads at all I don't think. Optimus offers Multicharts and from their website looks like they have ASX24/SFE might be worth having a chat to them.

AMP/CQG execution is good faster than Interactive Brokers.

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  #45 (permalink)
Elite Member
Melbourne, Australia
 
Futures Experience: Advanced
Platform: Multicharts, Esignal, Amibroker
Broker/Data: CQG/AMP, IB, DTN-IQ Feed
Favorite Futures: SPI, EMD, CL, S
 
Posts: 39 since Oct 2013
Thanks: 5 given, 29 received


homey View Post
Hi Guys…I have a couple of newbie questions – I’m studying the SPI at the moment. How do you trade the SPI without stops? I just found out that the SFE only supports limit orders. I look at price action so my entries and exits rely on stop orders most of the time. Don’t you run the risk of not being filled on a limit order? And what would you suggest to be the best way to exit a losing trade without being able to use a stop loss?

I would also like to know anyone’s experience with AMP/CQG/Multicharts combo for tick charts. I would prefer Ninjatrader but Ninja brokerage doesn’t offer the SPI.

Any advice would be greatly appreciated!

From what I know the actual exchange (ASX24/SFE) doesn't support stop orders.
But when you use a trading platform like TWS (Interactive Brokers) you can place stops on the actual platform that are held server side of the broker and than than executed as market orders on the exchange. So yes you can use stops, I always use stops with Futures.

If you are using a platform like Multicharts, Sierra Charts etc you can even place advanced order entry and exit orders like Breakout OCO oders with a trailing stops. You can do this because these platforms are connected to the broker and I think these days the orders you place on your platform are held sever side with the broker than executed as market orders on the exchange. I'm not a broker so I don't know the technicalities. But to answer your question yes you can place stop orders.

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  #46 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,932 given, 2,782 received
Forum Reputation: Legendary


RADO View Post
Optimus offers Multicharts and from their website looks like they have ASX24/SFE might be worth having a chat to them.

Thanks for mentioning us. Yes, we can hook up SFE w/MC using CQG for $59 per month.

Matt Z
Optimus Futures

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PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #47 (permalink)
Elite Member
Melbourne, Victoria, Australia
 
Futures Experience: None
Platform: TWS, NinjaTrader
Broker/Data: numerous
Favorite Futures: index and currency futures, stocks, options, warrants
 
kickmic's Avatar
 
Posts: 265 since May 2011
Thanks: 42 given, 336 received


RADO View Post
.....you can place stops on the actual platform that are held server side of the broker and than than executed as market orders on the exchange. So yes you can use stops.......

agree

I trade the SPI with Interactive Brokers. I use NinjaTrader (NT) for charting and execution, including placing stop orders. I have a multi broker license for NT enabling first connection to data provider, second connection to IB to place orders from NT. Been using this combination for many years, works well.

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  #48 (permalink)
Elite Member
Melbourne, Victoria, Australia
 
Futures Experience: None
Platform: TWS, NinjaTrader
Broker/Data: numerous
Favorite Futures: index and currency futures, stocks, options, warrants
 
kickmic's Avatar
 
Posts: 265 since May 2011
Thanks: 42 given, 336 received


homey View Post
HI would prefer Ninjatrader......

Any advice would be greatly appreciated!

Existing NT license holders can open AMP account, pay for SNFE data (CQG) and trade via NT

Interactive Brokers (IB) is the other option, again select a data feed of your choice, then connect NT to IB for order placement. No need to pay for an additional feed supplied by IB

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  #49 (permalink)
Elite Member
Melbourne, Victoria, Australia
 
Futures Experience: None
Platform: TWS, NinjaTrader
Broker/Data: numerous
Favorite Futures: index and currency futures, stocks, options, warrants
 
kickmic's Avatar
 
Posts: 265 since May 2011
Thanks: 42 given, 336 received


pinozi View Post
........Does anyone else here have any experience in using other programs like say market delta or ninja trader to trade the SPI and use studies like the ones I mentioned above?

I have traded SPI for years using NinjaTrader. I don't bother with the DOM as frequently it's thinly traded.

I incorportated volume profile and cumulative delta using the Gomi tools available to futures.io members and other than that, I tend to ignore ETH session, and pay a lot of attention to levels as the SPI trades very technnically in that respect.

I review a bunch of my trades on my blog for examples of using studies - address in about me section

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  #50 (permalink)
Trading Apprentice
auckland, new zealand
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: es
 
Posts: 3 since Dec 2014
Thanks: 4 given, 0 received



kickmic View Post
agree

I trade the SPI with Interactive Brokers. I use NinjaTrader (NT) for charting and execution, including placing stop orders. I have a multi broker license for NT enabling first connection to data provider, second connection to IB to place orders from NT. Been using this combination for many years, works well.

Thanks for your comments. I’ve been in touch with AMP futures the last couple of days trying to get clarification on order entries for the SPI. Basically, I was told to use limit orders only since the SFE doesn’t support stops. They did not want to mention whether or not I could place stops through Multicharts (which is the platform I’m looking to use since I don’t have an existing NT licence) that would be held on their server and executed as marketable orders on the exchange. They suggested that these would be rejected. However, after reading up on order types on the official Multicharts website for CQG broker profile, stop orders are ‘emulated locally in Multicharts’. What does this mean? My question is if I were to place a stop order in Multicharts, would it be sent to the exchange as a limit order (since it’s the only order type supported by the exchange) once prices reach the desired level or would it be rejected since it is not supported at the broker end? I think Interactive Brokers are different since they say they ‘simulate’ stop orders and submit the order to the exchange when it becomes marketable. It would be great to hear from anyone especially using AMP to trade the SPI via Multicharts/CQG feed.

My other noob question is about how orders are filled/executed. @RADO and @kickmic, since you place orders for the SPI, are they triggered based on the last trade price or the bid/ask price? For example, if you place a buy stop order, is it triggered once the ask price reaches that level? This is what is happening to me at the moment while I sim trade with a live account feed; however, when I was sim trading with a demo CQG feed, my trades were triggered according to the last trade price. I’m interested in this as the CME operates differently since it supports stop orders that are validated off the last trade price. So since I assume that orders for the SPI are off the bid/ask price, does this mean that you have to account for the spread and place the order accordingly? Would you suggest to have charts quoted off the bid, ask, or last trade price?

Is it also possible to obtain a CQG feed or any other for reliable tick data for the SPI and buy a new NT licence and use it with Interactive Brokers? I hear IB tick data is not so good…

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