im learning the SPI at present, paper trading until im ready to go live.
want to concentrate on the day session.
made 20pts today (long, one trade)
i have a vague idea of a system that will play around with and attempt to formulate more extensively.
i am aiming for 20pts a day, if i get signals i can use.
if i get a win i will quit for the day.
if i get a loss initially, will try again until target is reached or day is done.
i want to try and get a nice simple set of rules to use....
Steve and I are still around. Although, I've just returned from overseas and still playing catchup.
Steve, trades the ES and possibly the E6 but at least he is a local Aussie :-) Me, I'm just looking at the SPI.
Just had a look at the 17th of August where you did the Long 20pt trade.
Would you mind sharing some details of how you trade.
Platform & Broker?
Time frame - 5min bars?
When you took the trade and why?
Why did you exit?
Perhaps we can share some insights into the anatomy of the SPI.
I am in Sydney and have dabbled with trading the SPI using CFDs. Not really a good move considering the tricks the broker can play with CFDs. I would like to trade it with futures but I just opened an account with Mirus, who don't support the contract. Also, I trade at night, after I get home from my day job, and the volume is so thin then I don't think it is worth it.
From what I have observed, it is a fairly easy market to read. It often trades in a channel and povides good opportunities for breakout trades, and also usually shows its cards fairly early on providing a good opportunity to jump on the trend.
Great to see that there are a couple of other people out there interested in this instrument.
@Twiddle, you have to teach me a thing or two. I don't find the SPI very easy at all.
I'm trying to trade on 5min charts.
Stuart, Do you trade the actual SPI as opposed to CFD?
What time frame do you trade?