Thanks a lot Jack. That is a very impressive trading log. I am not at SCT yet but I will get there eventually. Therefore, i will hold off on tradign gaps as you suggested. Your prior posts is what got me to be more conscious of gaps. You always seem to just pull another chapter out of your trading textbook. lol. I'll have to read your prior posts on gaps a few more times before it sinks in. Thanks again.
I think this could be very very useful(especially for equities). You can use the Gaps to indicate when IT trends are changing. That was a big question of mine. If we break the right side of an IT trend, how do we know it is creating a pt 3 for the long IT trend or the start of a down IT trend? From what i gather, you anticipate a pt 3 and gap toward the IT trend. If you dont gap toward the IT trend, then their is a good possibility of starting a new IT trend. This is still new to me so my logic may be wrong. Just wanted to throw out a few thoughts.
I went out at 49.0 at open. the gap was under three points and the overnight high was 2 points higher than 49 at 51. The post above brings up many Q's. I have to work right now I will comment later.
amat intc csco qqq all worked, yes u made a dime, but lrcx wouldve killed you or any other semi or networker if you hadnt sold immediately, this may have conditioned you to holding overnites, one day the mkt will open down big..
i hold overnight all the time. that doesnt scare me. i am mostly swing a trader. over half the gains in this bull run have been overnight gaps. i love big down opens. we havent had many lately but they are sometimes the quickest money made if you do open orders.