Hey guys I was wondering what you guys think of opening the markets an hour earlier,*normal* hours. there has been alot of talk about it lately,about taking back some market share from europe and asia. There's always talk, but wouldnt it just kill us west coasters.
I'm sure at first it would be an adjustment but just like anything else, you'd alter your schedule to acclimate to the new times. Or, just move east
Years back, the US markes opening "30 minutes earlier" was to capture share volume from Europe. Wouldn't mind US opening 1 hour earlier yet again, then closing 1 hour earlier... wouldn't impact Asia on our closing, as they are not yet open... but would impact Europe a bit. Might as well open earlier and close earlier here...no real benefit to extending hours in the US unless they overlap Asia.
For the humor of it, in AZ (which is near the West) operates only in the am to trade a full day. Presently we trade 6:30 to 1:00 and then have lunch. Some traders use a ranching technique: Trade and have breakfast after the market pace dwindles. During part of the year in AZ (when the sun comes up later), the tading is from 7:30 to 2:00. People out here do not use wrist watches or alarm clocks; we tell the time by the movement of the sun (We do not orient to the Earth's rotation) What we notice is that the market starts at a different sun time each day. Once in a while(twice a year) the market open jumps an hour to get better aligned with how the day works. Now, its Monsoon season which means the market is slow and has a long trending nature. If we don't get our yearly 10 inches by Monsoon end, then the bottom is going to fall out of the market cause the grazing will be poorer than last year. Now is the time we put new filters in our 750's since the dust blows hard when the rain doesn't make it to the ground. The thermals are running 1500 ft/min (2G banking) these days so it is good that the market ends early so we can have more sky time till sunset. Cloud tops are running at 35,000 these days. Past trading in Greenwich in the East, was different. We sailed before and after market. It was 16 miles across to Oyster Bay so we had dinner over there. Bell 32A was a popular place to hook up (different meaning these days) to decide what port or point to shoot over to. Connecting the US to other markets will be interesting struggle for the East Coasters. Probably will improve the sailing and golf though.
ROFLMAO Finally, you reveal the key to the trading kingdom! Do you know how many awesome trades I missed going to grab a bite to eat around the open, or participating in the ORBB (opening range bathroom break)??
wake up at 5:30am finish at 12:00pm there is no trading afterhours close is waste of time. get the day's business over with. they could just shorten the trading day to 4 hours since nothing happens in lunch hour. 8:30 to 1m EST or here in west coast it would be 5:30am - 10am i would rather want that.