Yes News you can still make a days wage but I was just pointing out there are better markets to do it on. I have been looking around at other markets with better volume and less price overlap.
Better volume tends to make markets behave better technically, i.e. it's harder for a single identity to "move" a market in there preferred direction by taking on a large position in low volume periods.
Low price overlap makes position management a lot easier too. For example if you enter a trade and it goes in your direction, it is less likely to come back and hit your break even stop before moving in your direction again. If it does come back and hit your break even point it is likely it will continue in that direction so getting out is wise. I have also found markets with less overlap tend to have better "straight line" moves which makes "letting your profits run", that much easier. If a trade goes against you in a low price overlap market, you know quickly that you are wrong and can exit in a timely fashion.
The SPI lately has had low volume and pretty high price overlap so that is the basis of my "look at other markets" suggestion.
Just trying to make life and trade management easier :)
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Last
8,561.8 |
Change
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| Open | High | Low |
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| XJO (ASX) Chart |