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Aussie 'Share Price Index' ( SPI) Journal
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Aussie 'Share Price Index' ( SPI) Journal

  #11 (permalink)
Elite Member
Sydney
 
Futures Experience: Beginner
Platform: E signal
Broker/Data: AMP, Stage 5
Favorite Futures: AP -SFE; FESX; ES; 6A, 6N,6E,6B,6C,6J
 
Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

10 Oct - small -7 pts so far....fighting trend

Today,
I should have followed my analysis earlier in day.....I was bullish and looking for an ABC correction to a longer term trend line to buy for a strong close of the week upper target...but the market not co-operating hehe.
Formed a higher low for second leg on 5 min chart, then reversed up a bit earlier than anticipated.
teach me for fighting the trend early with counter-trend trades despite the low limit target of 20 points.
Still, got out for only a small loss -7 pts at a technical failure point for bulls, a breakout from the mini down trend line....
later I tried shorting again similar price zone only to get burnt in a similar fashion...time to give up on this day with my losses under control.
lost -8 pts last ptrade, for a total of -15 pts for the day. Bearable.

http://www.evernote.com/l/AdmrMzVldi5McYgfLnknout3R0rmyUNASlI/


Last edited by Zentrader2010; October 9th, 2015 at 01:37 AM.
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  #12 (permalink)
Elite Member
Sydney
 
Futures Experience: Beginner
Platform: E signal
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Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

12 OCT Monday +38 points

Had a difficult session, started with a small loss in the Aussie CASH market session.
The price action seem to suggest a tight trading range and equal sided trading forming a low for the day ( LOD), after a morning sell off and breakout to the down-side,
but I got in too early. I took a loss on this trade of -6 points.

Then it seemed to form a mini double bottom, and a re-entered again long for similar price...but kept grinding lower
over afternoon. I averaged down twice, once at bottom of tight trading range ( TTR), and again after a small exhaustive sell -off to close the CASH market....I was drawn down by about 10-15 points at one point with 60 mini's on, so on my small account was dangerously close to getting a margin call on my $3300 account ( margin was about $1900) ...luckily with about 1/2 between CASH close, and FUTURES close - the short traders started to quickly unwind their positions. It rallied straight up to my limit and not many points past it to make +11 points on 60 mini's.
In future I will try be more patient and get in lower, or go short to lower targets as I thought they would be hit in my prior analysis....I have to fight this tendency to average down and get too large, it's gonna get me bad one day with a big loss....was just lucky today.

http://www.evernote.com/l/AdnwOTdwEuhI8Jw8igSbMRId2o5ZKQmGuaY/


Last edited by Zentrader2010; October 12th, 2015 at 06:18 AM.
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  #13 (permalink)
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Thanks: 20 given, 24 received

13 OCT +23 points @ 15 mini - nailed the low of day


Today, I as working in the morning - so I missed trading the bear breakout of the day market.....
A little disappointed. Also, I knew that CHINA was releasing GDP figures at 1 pm SYD time, so decided to play a
'wait and see' approach. When the numbers were positive, I did not buy thinking it may be a technical bull trap,
lucky I sensed it. It fell away, but in the good news -that seemed to be just technical not fear based selling,
so I thought just watch sensible support lines and measured move targets for a limit buy and go for a small swing of not more than 30 points to close the day. At about 2 pm I got filled, but was still finishing work but I was watching my screen. Luckily, I got within 2 points of the low of day ( LOD), and went into profit pretty fast....within 3/4 hour it nearly hit my target but backed off about 5 points.....damn. So I took profit for technical reasons anyway, and was happy enough with 23 points for a few hours work ( = $345). Not bad while working a day job. Rest of the day went nowhere anyway so was a sensible profit target.....
http://www.evernote.com/l/Adle65Z0lcBJHY6-VQKedfj1iswkv4m94mw/

Already reached my target this week of 63 points ( $15 per point base level) so may wind back the leverage and only trade small from now on ( eg. $5 per point)

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  #14 (permalink)
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Platform: Sierra Chart, Python, C#
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Hi Zentrader2010,

Just wondering who you are using as your broker for SPI?

Are you using CFD's when you mention lower leverage (<$25/pp) ?

Cheers

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  #15 (permalink)
Elite Member
Sydney
 
Futures Experience: Beginner
Platform: E signal
Broker/Data: AMP, Stage 5
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Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

my current broker


amoeba View Post
Hi Zentrader2010,

Just wondering who you are using as your broker for SPI?

Are you using CFD's when you mention lower leverage (<$25/pp) ?

Cheers

opsm@live.com.au

send me a private message at this email account and i will tell you....not sure I'm allowed to talk brokers here??

Zen

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  #16 (permalink)
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Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

+44 points for 14-15th OCT

After missing trading the Aussie day session yesterday due to work, I decided to trade the US open last night,
and set up some trades before going to bed....I wasn't greedy, I often only look for between 10-20 points.
I had 3 successful trades last night and this morning. My analysis is in evernotes attached, start from bottom of internet page and work upwards to top for chronological order.

I've had my best week trading since starting this journal, up 100 points for the week using $15 per point as my base
trading level with my account at current levels ( about 5 K).....yes I really try to use my leverage, often margin is around $700 for that size pertrade, this morning I had 30 mini's on at some stage.

Anyway, I'm happy with this week so far, might just quite while I'm ahead and do more study of price action from Al Brooks courses.

http://www.evernote.com/l/AdmNJIFv8-5B0K_jYTqUz3ttR3wYhyAUc_Y/

HAPPY DAYS

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  #17 (permalink)
Elite Member
Sydney
 
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Thanks: 20 given, 24 received

Won a Stoploss today for larger swing trade tonight +31 pts for day.....

Hi,
started off the week ok, with a smaller size +23 point win but with smaller position size 2/3rds normal.
This was because it was a Tad on the riskier side being a counter-trend trade. So Only went for a range trade today
after it was established in the morning....The SPI can correct in a second leg down very fast and hard in the day contract....so wanted to be short for that 40% possibility but didn't happen as such a strong BULL SPIKE / GAP up a few days before.....
Now I'm looking for weakness and setting up for a larger swing trade down for tomorrow.
I'm intentionally going for bigger points now after a small swing because I think there's a chance a correction is due of a good size that I can profit from ( 50 points at least). I could be wrong, but that's ok as with a 15 mini position now at slightly lower I'm short with a wider stop, adding on with a limit order about 14 points higher and have some buffer due to today's small win which I will use towards my stop- loss here. I don't think it will reach my target tonight.
I just want to be in about 20 PLus points profit by tomorrow mornings CASH open, because it could easily SPIKE down

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to wash out weak bulls and bring in scalping bears as more 2 sided trading appearing......enough to hit my 50 points target anyway, even if recovers and forms a lower high by afternoon or even a higher high.....

A few hours later, I'm up 15- 20 pts, so have moved SL to B/Even .....


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Just before WALL ST opened I took profits.....+17 pts....old habits die hard clearly !!!


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All these plans could go wrong of course, so I will get out about 30 points higher than entry around 5252 ( so 5282 stop-loss)....limit is 5202
read link from bottom to top:
http://www.evernote.com/l/Adl4drlDQ-pEpI-yN85_WdqEVgju-4QoB-0/


Last edited by Zentrader2010; October 19th, 2015 at 09:43 AM.
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  #18 (permalink)
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Broker/Data: AMP, Stage 5
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Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

small -10 pt loss today

Hi,

Was a big down spike to targets and support area, then big up bar to top of new bear channel formed,
this created big confusion and a trading day with a tight range ensued.

I attempted one small size trade using 10 mini's only for a small swing up but needed to break out of new upper channel line convincingly, which was a lower probability scenario. Cut losses when it attempted to rally twice but failed over 120 min.
Not keen to try trading this choppy barbed wire action with false breaks up and down.....

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http://www.evernote.com/l/AdnZacCQwTBEbYbpL_YAdjtj5sLza764XcY/

Here is a larger picture of AUSSIE market forming a short-term top

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Last edited by Zentrader2010; October 20th, 2015 at 12:37 AM.
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  #19 (permalink)
Elite Member
Sydney
 
Futures Experience: Beginner
Platform: E signal
Broker/Data: AMP, Stage 5
Favorite Futures: AP -SFE; FESX; ES; 6A, 6N,6E,6B,6C,6J
 
Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

Good win today +40 points @ $20 pp

Today was difficult, had to be patient, my first long entry went up only 10 points before correcting off 20+,
I decided to average down ( once only!), and got double my normal size. I'm feeling more comfortable doing this providing I'm day trading and I close position by end of CASH market.

I wasn't drawn down long ( 1/2 hour ) by $400, then it gradually came back to break-even, hung there about 1/2 hour so again had to be patient. Finally there was a bear rally ( squeeze was on) with multiple Resistance zones ( tops on the way down), blown away and short stop cascade drove it up quickly to my conservative target of 20 points.
I tried to make target around the same level as the largest rally correction only of the down channel so that would increase probability of being hit today. Unfortunately I under-estimated the move UP, and could have made twice $800, but I consider that 20/20 hindsight, the reality is the bears were in control most of the day and sold off any reason such as hitting 60 min EMA etc So felt lucky with getting that profit.....

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brokerage statement to show it's real trading: last few days

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read flow of day from bottom of internet link to top for correct order:

http://www.evernote.com/l/Admh5FkD0OVFDJkFDn9GmtmHf8xehqP_SCQ/

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  #20 (permalink)
Elite Member
Sydney
 
Futures Experience: Beginner
Platform: E signal
Broker/Data: AMP, Stage 5
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Posts: 42 since Jul 2010
Thanks: 20 given, 24 received

+ 23 pts with $30 mini's today - tried pyramiding in


Today was a longer trade than usual, had to be patient, pyramided into 3 positions as market moved up slowing to test the highs of an ascending triangle, a break seemed imminent so held past the usual day trade, and sat just a little in profit most of evening until Employment numbers, eventually rallied well into sell zone area but chose to take profits just short of targets ( 30 pts), at 24 pts due to rally stalling, and near some technical areas of possible profit taking ( double drives up, upper channel line etc)....I think it will go higher overnight, but it's Midnight in SYD and I don't want to hold overnight positions. Made a good profit given the higher level of effort required to sit my hands and not act when I had doubts throughout the day. I liked pyramiding 3 position's about 8 points above initial entry, and then another 8 points higher - because I was in profit most of day a little which psychologically was easier to hold onto positions when up a few hundred dollars.

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I have exceeded my targets this week, being up 90 points ( with base of $20 per point)....might not trade FRI

Am starting to look at Market Profile on YOUTUBE and Mr Alexander. WIll learn it slowly, and just use my own methods for now

brokerage statement today

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http://www.evernote.com/l/AdkDP5c0DJhKhISMwmap-GTj7NfeauLfCFY/

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