TRADINGXYZ
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I'm not sure of these calcs...When you look at the sp500 emini data it will really depend on what the open is defined as and what the close is defined as. In general, in my opinion, its best to look at the open as 930 am eastern us, that's when nyse opens, and the close for the futures is at 415 pm eastern us time, 15 minutes after nyse closes. the es futures close for 15 minutes then they the "reopen" at 430 eastern us time...it really depends on what actual time the open and close data you are using is derived from...if you use nyse trading hours, then the open/close gaps in the futures occur alot more than your calculations...
chris
chris
robster970
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The essence of the gap mechanism was look for a 1-4pt range for the gap, not constrained by what looks like institutional buying/selling/positioning and no significant news prior to open. Avoid quarterly option expiration Friday's and for a period I avoided monday's but then ignored that 3 months in.
The 20day MA is Pat's idea which I will adopt when I start to incorporate the strategy into my trading again. Right now, gap is on hold until I think things look suitable again.
Pat494
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I am using Yahoo's free data for EOD, which is the S&P actual figure.
True the future figures are different and can swing quicker between up & down
TRADINGXYZ
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Have any of you tried trading gaps above/below the prior day high or low...this is larry williams oops trade..if so...any success with it?
TRADINGXYZ
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The oops trade was popularized by Larry Williams, essentially the trade tries to capitalize on a gap opening above yesterdays high or below yesterdays low. from what i understand of it, yesterdays high or low is not the globex high low but rather the high low established during nyse hours, when i looked at it I used the high low from 930-415 pm est...
TRADINGXYZ
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have you considered or already use some kind of trending indicator like adx...perhaps low adx situations may be better to play this kind of trade?
Pat494
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Probably depends on which country you live in
Hi,My name is mana.i am trading ES as well and use TICK,VIX,MACD and volume and RIS.I am wondering if you would like to exchange our skills on EStrading.My email address is, [email protected].
Best Wishes,
Mana
Best Wishes,
Mana
Could you share with me what you look for premarket that might keep you out of a gap trade? I read that "high premarket volume" is a warning, but what is "high premarket volume" in the ES? Also, do you know where I can get educated on how to use T&S?
Thanks
First and foremost, I use the gap as a gauge and do not always follow it.
Premarket may show a beginning, end or an in between cycle mode. A graphical representation of a commodity can be interpreted in different ways. Beauty is in the eyes of the beholder. T&S helps me shape the graph.
I trade when the market is open and (reach my profit or reached my loss or feeling beaten). In any case, high/low premarket volume isn't a factor for me.
I would recommend using SIM mode.
Premarket may show a beginning, end or an in between cycle mode. A graphical representation of a commodity can be interpreted in different ways. Beauty is in the eyes of the beholder. T&S helps me shape the graph.
I trade when the market is open and (reach my profit or reached my loss or feeling beaten). In any case, high/low premarket volume isn't a factor for me.
I would recommend using SIM mode.
I'm doing great! Working on getting set targets and stops. I like the idea of taking small risks, but have tried researching if bigger stops could mean more winners. I'm also trying to figure out how to enter using time and sales. A lot of gappers just enter at the open, but I think it is probably more efficient to time entry within the first few minutes. How long have you been gap trading? Do you have any resources or advice to those of us fairly new at this?
Thanks--I like your posts!
I don't want to go making a thread about this, but can anyone please answer my questions below:
With emini futures such as the emini s&p 500 is the current price also known as the index point. For instance if you look at the S&P 500 on google finance it's right now trading at 1078.75, is that figure the point or $ price?
I read that the points go up in 0.25 point increments known as a tick, so the .75 in the 1078.75 is 3 ticks, right?
I read that to trade on the emini s&p 500 the contracts are valued at $50 x the futures price. So knowing that would it be $50 x 1078.75?
If it's $50 x 1078.75 then that comes to = $53,937.50 can a day trader get a margin account to cover the cost to purchase that 1 contract with say $500 deposited?
Sorry for all the questions
Any help much appreciated
Many thanks in advance
With emini futures such as the emini s&p 500 is the current price also known as the index point. For instance if you look at the S&P 500 on google finance it's right now trading at 1078.75, is that figure the point or $ price?
I read that the points go up in 0.25 point increments known as a tick, so the .75 in the 1078.75 is 3 ticks, right?
I read that to trade on the emini s&p 500 the contracts are valued at $50 x the futures price. So knowing that would it be $50 x 1078.75?
If it's $50 x 1078.75 then that comes to = $53,937.50 can a day trader get a margin account to cover the cost to purchase that 1 contract with say $500 deposited?
Sorry for all the questions
Any help much appreciated
Many thanks in advance