Pokies in WA are allowed in the Casino in Perth, and that's it. They do not exist anywhere else in the state. The closest thing to gambling outside Crown Casino Perth is your local TAB with sports betting, but there are zero pokies.
How much per trade? Well its a hedge so 2 pairs. $1700 / 2 = roughly $850 per trade no?
I'll share one of my ideas I'm working on since they're indices that brokers will most likely never scrap - US30 / US500. They pretty much move in perfect tandem but 9 times out of 10 US500 moves up just a little bit more than US30 (read historical charts for both these symbols).
Lot sizing is thus: Sell 1 index US30 Buy 10 indices US500 (thats what is needed to keep pip sizes equal and the hedge to work properly).
Try it on a demo account with 10k - Do the trade once per night at the beginning of the US market open (which is 10:30PM WA time). I have a script that automatically closes out both trades when the average gain across both pairs is 20 pips ie: when the correlation briefly changes as the US500 overtakes US30, or if the US30 falls faster than the US500. Obviously since the market is open during the hours that I am asleep I need a script to catch the moment it happens, but often its fine to just close it out the next day. With Apple now topping both of these indices, the correlation should stay very tight for some time, making potential draw down minimal.
Rinse and repeat the following trading night. Works better / faster when market is going up and on swap-free accounts that give you a few days grace period on admin charges in case it takes a couple of days for the stars to align in your favour...
Anyway I have a few others similar to this that I probably shouldn't share involving instruments available only with my broker so far because I don't want them to turn around and widen the spread / stop offering that product / find some other way to stop me being profitable with this system...
How much per trade? Well its a hedge so 2 pairs. $1700 / 2 = roughly $850 per trade no?
I'll share one of my ideas I'm working on since they're indices that brokers will most likely never scrap - US30 / US500. They pretty much move in perfect tandem but 9 times out of 10 US500 moves up just a little bit more than US30 (read historical charts for both these symbols).
Lot sizing is thus: Sell 1 index US30 Buy 10 indices US500 (thats what is needed to keep pip sizes equal and the hedge to work properly).
Try it on a demo account with 10k - Do the trade once per night at the beginning of the US market open (which is 10:30PM WA time). I have a script that automatically closes out both trades when the average gain across both pairs is 20 pips ie: when the correlation briefly changes as the US500 overtakes US30, or if the US30 falls faster than the US500. Obviously since the market is open during the hours that I am asleep I need a script to catch the moment it happens, but often its fine to just close it out the next day. With Apple now topping both of these indices, the correlation should stay very tight for some time, making potential draw down minimal.
Rinse and repeat the following trading night. Works better / faster when market is going up and on swap-free accounts that give you a few days grace period on admin charges in case it takes a couple of days for the stars to align in your favour...
Anyway I have a few others similar to this that I probably shouldn't share involving instruments available only with my broker so far because I don't want them to turn around and widen the spread / stop offering that product / find some other way to stop me being profitable with this system...
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