Pre-market trading

Discussion in 'Order Execution' started by 818b, Oct 28, 2008.

  1. 818b


    I have a Schwab account and can place trades after 7a EST. When I log in, I often see trades placed before 7a. Today for example, I see 4 trades placed between 6a and 7a w/o any market reference and and 2 trades placed @ 6:44 and PSE is referenced.

    Which broker supports pre-market trading before 7a?


  2. sbroker


    in Canada, you can place a pre market order right after the after hours session ends up...the thing is you have to call your broker because pre market/after hours trading is not available online (at least the broker I use doesn't have it)...
  3. I daytrade now and then, have a margin account, keep 50K in there. I only get in at 8am with TD ameritrade. How do you get in at 7am?

    Is there a very good advantage to that time frame?
  4. 818b


    I'm not sure if this is unique to schwab but there are 2 things that happen.

    At 7am, you're able to begin ECN trading and direct trades only to Arca or NSDQ.

    At 8am, Schwab premarketing trading begins and you can let them match your price or you can still direct a trade to an ECN.

    I haven't tracked the benefit to 7am trading. It's very much a situational thing where something has happened after post-market trading finished the night before and the news may not be completely reflected in the price. The trades I mentioned in my original post were good ones that showed people getting in ahead of others in the US after the overseas markets ran up 10% overnight.

    Things are more illiquid at 7am and there isn't much you can do about that.
  5. You can trade stocks at Interactive Brokers earlier than 7AM. ARCA opens at 4AM.
  6. From your post it sounds like you have no idea about pre/post market. Please, save yourself some trouble, first learn the limitations of extended hours trading, only then trade those hours. You can get big surprises.
  7. 818b


    Thanks for the tip about IAB. I've been looking add them for a while and this is another point in their favor.
  8. Hi
    I trade actively in premarket news effected stocks from Hold Brothers. For eg. yesterday SI, AMAG, PBCT, DELL, SINA, WCG. Quite often let my positions run after open. Today there was relatively less activity but tried NOK, ATVI, RIO. Also try getting the open print on NYSE stocks.

    Looking for trading buddies. PM me your skype ID.
  9. Skype: jason_yyca
  10. ProTrade Greg

    ProTrade Greg ET Sponsor

    Check out the ARCA trading hours:

    Their morning auction starts at 4am EST.

    Just because a broker/trading product offers ARCA, doesn't mean you can trade that early though. It's up to the broker to set the time they want to start accepting/supporting orders.

    We can support equity trading at 4am EST on ARCA through RealTick, one of the many trading solutions we offer our professional clients.
    #10     Dec 18, 2008