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Hi @amoeba, I see that your profile indicates you trade the SPI. Do you trade the futures or CFD or something else (is there an ETF?). I'm looking into this mkt as well but being a new to it, am hesitant to tradr the futures to begin with given the large tick size/value (why dont they have 1/10ths or 1/4's of a point tick size?!). Was wondering if there is a good CFD substitute or otherwise with good volume characteristics and correlation that you're aware of for day trading? Any advice would be appreciated. Cheers.
Can you help answer these questions from other members on NexusFi?
I haven't traded the SPI for a while, there are other higher volume index futures in our time zone that I found to suit me better. (more liquid, 2 sided volatility)
There is a mini-SPI futures, $5AUD per tick but the liquidity is terrible. Outside of that, Interactive Brokers have a good CFD for SPI, $1AUD per point.
Unless you are specifically looking to trade the SPI it would be worth checking out mini-nikkei or HSI (or its mini variant), there are other experienced traders on this board who are trading these products too.
Thanks for the reply, yes the low liquidity was one concern I did have with SPI. Thanks for the insight. I will have a look at IB's CFD.
I'm not specifically looking to trade SPI - looking for mkts in our timezone which trade with some good readable flow and trade the intraday swings and potentiall hold for overnight swing trades. Have looked at HSI and its quite volatile (algo driven?) in that frst 60-90 mins then tends to go pretty flat after 11am. How do you handle the 1hr break? Do you hold positions over this period? I would personally be hesitant as I've seen it gap after the break if other mkts have moved for whatever reason.
I've been looking at the mini Nikkei over the last couple of days and it seems to have some nice intraday swings and less eratic than HSI but not sure if thats just during this strong run out of the March lows. Dont have much history downloaded yet.
I haven't got too much experience with the HSI/MSI, I had planned to trade it this year but things got too busy. The morning session is more volatile, there is a member here who has a journal of his trading on the HSI, he only trades for an hour or so in the morning.
Mini-nikkei I have been trading since 2017, it does have periods of very low volatility, and when it does move it often does not give you a pullback to get on board so you have to choose if you just want to take the market price.
Kospi 200 I have added to my trading 8 month ago, so far it has been a good market to trade, more rotational than the Nikkei but still structural and liquid. I have been trading the mini-kospi, which has a 0.2 tick size compared to the full kospi 0.5, the AUD to KRW is pretty stable too. I would recommend taking a look at the Kospi, the mini lets you trade a proper futures contract with smaller size and avoid CFDs. IMO, it is the most similar index to ES in our timezone to trade.
I've been SIM trading and live trading the MHI for about two weeks now. I'm really coming to grips with the type of order flow and price action this market has. It will definitely run, run some more, and then keep going leaving you in the dust. So if you're ever wrong, accept it, and get out. It's a freight train.
Does anyone here trade the ES or MES during the Asian RTH? Any thoughts/experience on how it trades relative to the Asian mkts and what the spread and liquidity is like?
Cheers
Yes - the spread is usually 1-2 ticks, not too bad really, and liquidity is decent enough. Probably about 8-10x less liquidity than the US session, which is to say it's still tradeable. It's hard to characterize how similar it is really. It will tend to track with the Nikkei more than the HSI; but this all depends on the driver at the time. Recently the Nikkei has been super strong along with ES, while HSI has lagged, for example.
In short, it can be traded. There's no substitute for actually putting it side by side and getting to work with it.
Thanks Josh, I'll certainly have a closer look at it. Volume and price action does seem to be readable even with the lower volume vs day session. Appreciate your feedback.
I've been experimenting with cluster volume as of late. Seeing if there is an edge to where the largest amount of orders get filled, particularly on large range pinbars (for reversals) and the first high volume bar in favour of newly developed trend (so long as it's within the first 4 of the bottom or top.
Not sure if there's an edge here any others trading this instrument experimented with this.
