Midnight rally

Discussion in 'Trading' started by Rickshaw Man, Mar 24, 2005.

  1. SunTrader

    SunTrader

    So eMini opened Thursday night @ 3905.25 and hit a high in the globex session waaaay up @ 3914.00 then closed the session Friday morning 930am down @ 3901.75

    During the regular session the high was 3936.25 right at the close which was 2 ticks lower.

    So all the moves happen overnight do they. And not an isolated instance.
     
    #1061     Feb 14, 2021
  2. chillibean

    chillibean

    bang!
    Out here +10
    Will probably regret closing, but never mind
    Hopefully it gives us a little dip to get back in long

    80 odd points made so far using this edge with my posted trades. If I can just make 10 points or so everyday, i'll be good
     
    Last edited: Feb 14, 2021
    #1062     Feb 14, 2021
  3. From time to time you will have pea brains pop up and notice there are large moves during the US trading session. They act as if they have uncovered something big.

    Like when the index futures don't rise overnight. No one ever said the index futures rise every single night. Or that all the big moves occur in the overnight session.

    Check back tomorrow morning.
     
    #1063     Feb 15, 2021
  4. chillibean

    chillibean

    L 3948
    Putting in profit target at +10
     
    #1064     Feb 15, 2021
  5. Overnight

    Overnight

    By my charts, you hit your profit target. Nice work.
     
    #1065     Feb 15, 2021
    chillibean likes this.
  6. chillibean

    chillibean

    Filled ovenight for+10 :)

    That's 90 ES points profit in live, closed trades since discovering this thread. Thanks OP
    So tempted to go long here because of the big drop, but should probably wait until the close?

    I'm gonna buy some here for 3951 but will close it for just 6 points profit - bit more modest
     
    Last edited: Feb 16, 2021
    #1066     Feb 16, 2021
  7. There's nothing magical about profiting from long entries in a bull market which essentially is what this strategy is. It works when markets go up. Less so when markets go down.

    If I'm not mistaken - several of the participants in this thread have taken some large hits eventually, so do use a stop. :)

    Anyway. Good catch.
     
    #1067     Feb 16, 2021
  8. SunTrader

    SunTrader

    ......... particularly in the globex overnight session no matter what a certain cheerleader says.

    1) ES Globex ATR(10) 2) ES RTH ATR(10):-

    ES Globex.png ES RTH.png
    Volatility rises and falls over time back and forth in between either session, but as the charts show currently, RTH has a much higher (34.75 vs 13.30) reading. ;)
     
    #1068     Feb 16, 2021
    Laissez Faire likes this.
  9. chillibean

    chillibean

    Adding L here at 42 ES
     
    #1069     Feb 16, 2021
  10. SunTrader

    SunTrader

    Further to my post # 1068 (two above) - made a formatting error in globex session chart making it similar length as RTH when it is twice as long timewise so two bars per session were plotted which affected ATR output.

    After correction RTH is still higher, currently as I said 34.75, but globex is 30.88

    So not as great a difference but still in RTH's favor.
     
    #1070     Feb 16, 2021