SPI trading

[Pornstar]

I have just opened up a trading account to trade the SPI contract and I am going to post my trades here in real time so people can see my performance for a bit of fun and discussion. I am starting off with $10,000.

Current trade:

Record to date
Wins: 6
Losses: 2
Net profit/loss: -$7753


16th Oct +$259
17th Oct +$384
18th Oct +$59
23rd Oct +$1759
26th Oct +$234
31st Oct +$1334
30th Nov -$4291
20th Dec -$7491

 

[Pornstar]

Long 1 contract @6697
Profit target set at 7008

 

[Pornstar]

Profit target hit at 7008. Closed out of the trade for 11 point profit = $259

 

[dmc333]

Don't want to interupt you here , but what's the go with this?

I was interested in the "buy and hold the index" any idea how you do that?

 

[Pornstar]

Buy and hold is the safer and more profitable strategy with the SPI, but for me it is just too boring. I prefer to close out quick trades for $250-500 profit in an hour or two.

 

[Pornstar]

Have just gone long again at 6697 and set a profit target at 6720

 

[Pornstar]

I just closed out the position early at 6713 for a 16 point ($384) profit.

 

[dmc333]

So, what are the options for opening an account?

Who, where etc??

 

[Pornstar]

So, what are the options for opening an account?

Who, where etc??

I trade with Sonray Capital Markets. You can get a free trial period of their trading platform from the website that lets you place dummy trades based on real time prices, so you can practice your trading without the risk of getting burnt.

http://www.sonray.com.au

 

[Pornstar]

I just went short at 6765. Hoping for a 10 point drop.

 

[dmc333]

I trade with Sonray Capital Markets. You can get a free trial period of their trading platform from the website that lets you place dummy trades based on real time prices, so you can practice your trading without the risk of getting burnt.

http://www.sonray.com.au

cheers

 

[Astro_]

I got done hard today. Stupid me went chasing my losses and just ended up in a worse position every trade.

Trading summary for the day is below:

Trade 1: Long 20 contracts @ 6,704. Closed out at 6,713- Profit $180

Trade 2: Short 20 contracts @ 6,720. Closed out 6,712- Profit $160

Trade 3: Short 20 contacts @ 6,740. Closed out at 6,753- Loss $260

Trade 4: Long 20 contracts @ 6,751. Closed out at 6,741- Loss $200

Trade 5: Short 20 contacts @ 6,742. Closed out at 6,752- Loss $200

Trade 6: Long 20 contacts @ 6,751. Closed out at 6,742- Loss $180

Trade 7: Long 20 contracts @ 6,748. Closed out at 6,739- Loss $180

Trade 8: Short 15 contacts @ 6,740. Closed out at 6,744- Loss $60

Trade 9: Short 20 contracts @ 6,761. Closed out at 6,769- Loss $160

Trade 10: Short 15 contracts @ 6,763. Closed out at 6,779- Loss $240

Loss $1,140 for the day. This on a day when the market when up about 90 points. Serves me right for gambling on the index. Treated it like a pokie machine today.

 

[smooking39]

Can some tell me what SPI trading actually is?

What does long and short mean i often hear it being refered to.

 

[Astro_]

Can some tell me what SPI trading actually is?

What does long and short mean i often hear it being refered to.

SPI= share price index. All Ordinaries, ASX200, DOW JONES, FTSE etc etc

You are therefore betting if the index (ASX200) will go up or down.

LONG/SHORT refers to the position you take on the index.

If you think the index will go up then you go LONG. If the index does go up and you then close out of your position at the higher price you profit.

If you think the index will go down then you go SHORT. If the index falls and you close you position you profit. Conversely, if the index go up you lose.


There are various trading platforms that allow you to trade the index. They also allow you to go Long or Short on shares too.

 

[Pornstar]

I just closed out the positoin early @ 6762 for a measly 3 point profit (net $59). After the market went against me and my losses crept out to $1600 i am quite relieved to get away with a tiny gain.

 

[Astro_]

do you pay commissions on your trades?

 

[Pornstar]

I pay $8 per contract, per trade. So a 'round trip' is $16. The SPI is getting r*ped right now, i should have held my short position!!! Might buy it later in the day.

 

[Pornstar]

Just went long @ 6555. Expecting at least 60 points profit. Fingers crossed!!!

 

[Astro_]

I shorted the market today at 4:20pm @ 6,570. Already picked up 50 points in pre-market trading. Heres hoping for the US to tank again tonight.

 

[Pornstar]

Just closed out the position at 6622. Very disappointed that i didn't get out at 6660 this morning. I saw the result after the market closed at 7:30am and it opened down 30 points.

Still, a profit of 71 points ($1759) for a night's 'work' isn't too bad!

 

[Mordecai]

Is this a thing outside work or is it your work for you guys?

 

[Pornstar]

This is a hobby for me. I have the trading platform on my work pc, and i place the occasional sneaky trade if i see a good opportunity. But futures and FX trade pretty much 24/7, so i also place some trades at home during the night, like i did yesterday. It is a great way of getting a second income.

 

[Astro_]

Is this a thing outside work or is it your work for you guys?

Outside of work. However the trading platform is on my PC at work and I have it open all day. It good to put a trade on here or there and try and make an extra few hundred dollars (or few thousand dollars).

 

[Astro_]

Just closed out the position at 6622. Very disappointed that i didn't get out at 6660 this morning. I saw the result after the market closed at 7:30am and it opened down 30 points.

Still, a profit of 71 points ($1759) for a night's 'work' isn't too bad!

Not bad. I closed out my short position at around 11:00pm last night @ 5,520. Picked up around 50 points on 20 contracts (about $1K).

Gotta love trading during the day and at night when you have nothing to do.

 

[Astro_]

Went long @ 6,637 around 12:30pm today.

Just back from gym and closed out at 6,651.