options-george
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Yiehom, maybe you would like to meet together sometimes to discuss how we both trade - maybe it would benefit both of us. Maybe Skype?
Gap Trading
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Yiehom, maybe you would like to meet together sometimes to discuss how we both trade - maybe it would benefit both of us. Maybe Skype?
yiehom
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Great idea, I am at your complete disposal, Sir!
options-george
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Hey Yiehom - thanks for sharing. AUDJAP is not a pair that I watch - good luck with that one. I went long EURUSD tonight. Stop 3661, Target 3745.5, Entry 3696
Moved stop to 1.3686 around 11.15pm. Price traded as low as 3662.5 - phew!
Look forward to catching up on Skype this week.
options-george
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Out for a 10 pip loss around 1am. I havn't had a winning FX gap trade for six weeks, but have somehow managed to keep a lot of my losses small, avoiding full stop-outs in most of the trades. Still it's not an encouraging experience.
Planning to switch from CMC MarketMaker platform to their next Gen platform from this coming week, hoping this will lower my spreads a little bit.
yiehom
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You are right George, gaps that close are becoming scarce, that's why I am playing them mixing with the opening range break out.
I am lucky today with the A/J trade, now trading to the down side as I thought it would go after hovering up.
I am also with CMC, and I don't know how many platforms they now have, but I can log in with Market Maker and with the web based one, which doesn't seem to have all the orders type of MM. And contrary to their claims, at times I still get re quoted and rejected trying to get in at market price. But true at times that rejection saves me.
Keep me informed of your Next gen experience.
I am lucky today with the A/J trade, now trading to the down side as I thought it would go after hovering up.
I am also with CMC, and I don't know how many platforms they now have, but I can log in with Market Maker and with the web based one, which doesn't seem to have all the orders type of MM. And contrary to their claims, at times I still get re quoted and rejected trying to get in at market price. But true at times that rejection saves me.
Keep me informed of your Next gen experience.
options-george
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Nice winning trade on Sunday night, shorting EURJPY -this one was somewhat of a deviation from the way I normally trade the Sunday Night Gaps.
Had set alarms at 3am and 5am to check the trade and move the stop loss.
Shorted at 103.44 - bought back at 102.56. Gained 98 pips - risk was 68 pips. 1.3R.
Finally a winning trade on a Sunday for a change!
Traded on CMC marketmaker platform - spreads offered on the nextgen were the same - spreads on fxcm seemed to be a little better.
Had set alarms at 3am and 5am to check the trade and move the stop loss.
Shorted at 103.44 - bought back at 102.56. Gained 98 pips - risk was 68 pips. 1.3R.
Finally a winning trade on a Sunday for a change!
Traded on CMC marketmaker platform - spreads offered on the nextgen were the same - spreads on fxcm seemed to be a little better.
yiehom
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I could not trade this week end, as I was out on a travel to Liege to meet a person that didn't even care to show up. I still don't know if I should be regretting it or not
.What do you trade wit CMC, SB or CFD's?
options-george
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I could not trade this week end, as I was out on a travel to Liege to meet a person that didn't even care to show up. I still don't know if I should be regretting it or not
What do you trade wit CMC, SB or CFD's?
can't believe that person didn't show - that's just outright rude!
on cmc i trade with cfd.
yiehom
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Hi George,
It was great talking to you over skype. Thanks to your observations, I learned that I traded far too much. I've already started to address the urge to trade issue.
May I suggest we have another session this Sunday around 22.00 London time if you are around, to change ideas about the gaps setting up?
Yiehom
It was great talking to you over skype. Thanks to your observations, I learned that I traded far too much. I've already started to address the urge to trade issue.
May I suggest we have another session this Sunday around 22.00 London time if you are around, to change ideas about the gaps setting up?
Yiehom
yiehom
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Hi Junior,
I can't see the gaps at friday open on my charts, just a little one on Nasdaq.
Do you trade them no matter their size?
I know nothing of market profile and itradepod. Is the latter a signal service ?
Yiehom
options-george
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good work Yiehom. What was your result on Cable?
I didn't take any trades yesterday. Again, like last week, my thinking revolved more around going with the down-gap (on eurjpy and eurusd) once/if they rally to a degree - but i was so tired and didn't get to my trading desk to leave sufficient time for preparation - so I figured the most profitable thing for me to do was to NOT put on any trades.
options-george
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When I started this thread, I said that I was trading the sunday night gaps on the fx market and that i was looking to apply the gap trading concepts to other markets.
Well, it's been some months now. I am still trading the Sunday night gaps however the results in recent months have been less stellar, mainly because a lot of the times the gaps didn't close as I had hoped they would for my setups. Most of my trades have a 'fade the gap' bias.
The 2011 YTD stats for my trading on this strategy are as follows:
44 trades - 19W, 12BE, 13L - net gain 9.17% - typically I risk around 1% per trade - so this effectively is 9.2R.
I also looked at applying the gap trading to the equity markets. My approach here ended up being a subscription to a monthly-billed data service and live online trading room where gaps in the US equity indices are traded on the basis of 10 years of historical gap data. This has been working out well so far, and as I had planned, allows for a greater number of trades as there are potentially setups on a daily, rather than a weekly, basis.
The stats for that are 8-2-3 and a net gain of 3.34% - the winners tend to be smaller than the losers on this one, but the win rate is higher - this is two months' worth of live trading - so very small sample size.
The data service also looks at first hour range trades - this is different than gaps but also seems to work well. So I might well try and apply that first hour methodology to the sunday night fx market.
If you are out there trading gaps - then get in contact - it would be great to discuss and swap ideas!
Well, it's been some months now. I am still trading the Sunday night gaps however the results in recent months have been less stellar, mainly because a lot of the times the gaps didn't close as I had hoped they would for my setups. Most of my trades have a 'fade the gap' bias.
The 2011 YTD stats for my trading on this strategy are as follows:
44 trades - 19W, 12BE, 13L - net gain 9.17% - typically I risk around 1% per trade - so this effectively is 9.2R.
I also looked at applying the gap trading to the equity markets. My approach here ended up being a subscription to a monthly-billed data service and live online trading room where gaps in the US equity indices are traded on the basis of 10 years of historical gap data. This has been working out well so far, and as I had planned, allows for a greater number of trades as there are potentially setups on a daily, rather than a weekly, basis.
The stats for that are 8-2-3 and a net gain of 3.34% - the winners tend to be smaller than the losers on this one, but the win rate is higher - this is two months' worth of live trading - so very small sample size.
The data service also looks at first hour range trades - this is different than gaps but also seems to work well. So I might well try and apply that first hour methodology to the sunday night fx market.
If you are out there trading gaps - then get in contact - it would be great to discuss and swap ideas!
yiehom
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Hi George,
cable trade was catastrophic, I got stopped in both trades, but re entered the a/j and am still in. I wish I never trailed my stop on this one two weeks ago, it is down hundreds of pips.
I also traded the us ism numbers with e/u and am still in as well, but with a tighter stop. Also short one arabica coffee .
So, overall a profitable week start so far. But I am aware things might calm down as from tomorrow, ahead of friday's nfp. I never miss that when possible.
Is it possible you post a chart illustrating a trade on an index? I believe you trade the same way you do with fx gaps?
My opinion is that one should only take gaps that are counter the main trend so that by fading you re enter with the trend.
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yiehom
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options-george
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Hi Yiehom, my apologies I never saw the second paragraph of your post! Yes we can discuss that. I am now signed into Skype - if you want to discuss the gaps that are setting up tonight on the fx market.
G
