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Having traded the SPI among other markets full time on and off since the early 90s I can tell you that this is going to be an interesting journey for you, it certainly has been for me.
Generally the SPI will begin it's move from the high/low of the previous day session or immediately after the afternoon cash close, often dramatically when it does, this may in fact be a reversal and usually indicating O/N direction.
Generally,once the early trend has been established, it will be flatish thru the evening and then start to accelerate in to the US open, it can be quite volitile thru the wee hours often providing the best O/N opportunities around 5-6am, bearing in mind that you are taking on more risk due to the wider O/N spreads and the fact that the market may very well be substantially if not fully priced by this stage, subjecting you to an even larger hit if the market gaps against you on the open. It will be virtually impossible to detect the potential negative outcome from a chart based analysis as this will be indicating the O/N trend, not what is coming on the open, flip a coin. Reversion strategies applied to these scenarious have the potential to cause much great sadness. The reason that I am saying this is that any move you catch will probably have an overall negative EV and will therefore eventuate as a waste of time. Meanwhile your losses are going to be swift and painful, how on earth can you apply a sensible stop to a potentially unknown gap scenario. Much smarter to start your trade from the High/Low of the previous session, you will either be kicked out of the trade early or usually have a decent paper profit buffer to help weather the open volitility.
But, as the say, "you never know until you give it a go", so good luck.
Given the consistent daily ATR on Australian 200 i'm surprised more people dont trade it . Has great patterns , does 80% of daily range of opening swing reversal inside first 90 minutes most days . Hopefully a crew can develop here , as an XJO trader i havent found many others doing it . Daily ATR currently 1.1% , SPX hasnt been doing that in 2 weeks .....
Apologies for the bumping of the old tread, what's the best way to trade SPI natively via NT8?
Tried AMP & CQG but their data doesn't have any bid/ask volume in it and NT doesn't load historical data from SPI because they've decided to.