Does anyone have any suggestions or comments about an intraday gap fade strategy for futures? In John Carter's book Mastering the Trade, he recommends gap fades as one of the best types of trades for those who have a full-time (non-trading) job, which includes myself. He recommends YM and ES as being more reliable than NQ or ER2. A filter he uses is pre-market volume in cash stocks that are also SSF stocks, particularly KLAC, MXIM, NVLS and AMAT. If volume of these stocks is above 70,000, then this indicates a professional breakaway gap and the gap is not faded. If between 30,000 and 70,000 then he uses 2/3 size, 1/2 exit at 1/2 gap fill and other 1/2 at gap fill. If under 30,000, then full size and exit entire position at gap fill. Gaps must be at least 10 on YM or 1 on ES. For stops, with gaps under 40 YM or 4 ES, there is 1.5:1 risk:reward and over 40 YM or 4 ES a 1:1 risk reward (so for 50 point gap on YM, use 50 point stop). There is also a study posted on the mypivots.com website about gap fades, based on a study of ES data from 1/15/02 to 2/20/04. Various parameters were discussed. For example, ES gaps of 7 or less have a better tendency to fill intraday than larger gaps. Also gaps on Monday have the lowest probability (64%) of being filled, whereas gaps on Thursday have the highest chance (86%). I'm looking to use gap fades as a strategy and would like to hear from any others with experience or interest. Also, besides the US equity markets, do gap fills work equally as well with European or Asian equity markets? How about in other futures markets such as bonds, metals or energy? Thanks in advance.