Trading the Gaps

[robster970]

3.5pts for me today.

 

[ilir.shkurti]

So much for statistics on Monday after OpEx days.

 

[robster970]

The price had just drifted around so it just looked suspect which is quite odd for a monday after no news at the weekend and no news of any note today.

 

[ilir.shkurti]

Long 3.25

 

[ilir.shkurti]

First target

 

[m_cat12]

1st entry 103.50 at 9:24EST. Filled at 9:40EST at 105.50. Second entry at 9:41EST at 105.75. Second target is going for 2 pts.

 

[ilir.shkurti]

Second and third targets exited.

 

[m_cat12]

Wow. Good call Ilir! My second target was gapped and I was stopped at 102.50. Very strong move to the downside.

 

[ilir.shkurti]

I exited third position on 7.5, just a tick before it turned. Wow, negative reception of 10 o'clock report

 

[robster970]

Stopped out due to the news. That kills off my winning streak of 12 wins on the trot.

That's the markets for you. Ironically I was thinking about taking an exit before the news and then I got slammed about 10 secs later.

 

[ilir.shkurti]

Well, gap filled, for a fraction of a second then news pretty much slammed it. For those of us still looking at intraday setups, there may be an opportunity to go long shortly.

 

[ilir.shkurti]

Stopped out due to the news. That kills off my winning streak of 12 wins on the trot.

That's the markets for you. Ironically I was thinking about taking an exit before the news and then I got slammed about 10 secs later.

Measuring streaks is dangerous thinking to me. I try not to think about the number of straight wins. If anything, I welcome a loss when it gets too long. Would not want to upset the statistics' gods, would we?

 

[m_cat12]

I've never seen that before. When the news broke, my stop was actually 'skipped over'. I use 3 tick charts (512, 1600, and 3200) and was looking at my 1600t.

 

[robster970]

In a funny kind of way, I'm pleased I have taken a loss (the first since 15th January for gap). I can now carry on without having to look over my shoulder, if you see what I mean.

Ironically, it was marginal < 4pts at open and I knew the news was coming at 3pm and I didn't think it would be be good, but I didn't expect that reaction either.

Good support around 1093 recently for entering long.

e2a - I can see why the reaction was that bad now - level went way below 50 so that is going to spook people.

 

[ilir.shkurti]

I've never seen that before. When the news broke, my stop was actually 'skipped over'. I use 3 tick charts (512, 1600, and 3200) and was looking at my 1600t.

I have seen slippages like that once or twice. Dec. 4 of last year was one. I usually prefer to be out of the market when such releases are imminent. I have actually leveraged such report-induced momentum to get into some crazy trades, but it is playing with fire. I place a limit pretty far out of the current market price, hoping to fill into the tail of a crazy candle. Targets are instantaneous, as are stops. As I mature into my trading regimen, I have less and less a tolerance for such stunts, though. Report-induced price momentum is, however, great to position for an intraday top/bottom. I had couple of successful long setups on today's bottom, which I nearly undid with an unsuccessful one. But, wrong thread for that.

 

[robster970]

Do you scalp or swing ilir (as well as gap)?

 

[ilir.shkurti]

I do not swing-trade, at least currently. I look to partake into intraday tops and bottoms, for 2 to 4 points, 3 to 4 trades at most.

 

[ilir.shkurti]

Long 88.5

 

[ranjha]

not sure if its a good idea to go long today

 

[richd8980]

Long 88.5

Im riding with you at 88.75 rough so far