This is a long term odds game. History and experience have shown me that unless day trading outside of RTH, stops are somewhat meaningless to what the market is actually doing . Reminder--cash rules futures. ---Please look back at action afterhours during London bombing in July 2005 for evidence of what I speak of.---
I would feel confident in saying that there hasn't been a globex selloff that didn't setup in RTH the day before.
An absolute?--No idea----but what I'm saying is that over the long haul, I do better by not having a hard stop outside of RTH.
That's clear enough looking at stock market performance over the last 100 years, but that's not reeeeaaaalllllyyyy short term trading based on your own criteria set out in this journal FWIW there were selloffs that started outside US RTH, whether they were selloffs is a matter of perspective of course, some would have called them buying opportunities, others would have referred to them as blips & others would have jumped.
Seems almost unfair how easy it is to make money in this market for a long time now! haha my neighbour started trading some time back and his 'system' is to go long when the RSI o the 5m gets oversold and then too add to the position every 4 ES points or so in the unlikely event it goes against him, and he's making bank! I want to get involved but worry about being 'late to the party', but the fact that i'm worried about that probably suggests that the good times will carry on for a lot longer yet! Hope you're all killing it. Stay away from them shorts!!
^^ Join the party! Any pullback will be relatively small. No more than 50 or so ES points, and we have much higher numbers to hit over the coming months. 2530 maybe?