premarket rallies

Discussion in 'Trading' started by rowenwood, Feb 4, 2004.

  1. SethArb wrote:

    "I have no position but might suggest covering a portion of yours

    if you have the ability to trade NQ's sunday night , just in case

    there is an overnight rally premarket"

    And my quesiton is how can one tell if there is a sunday premarket rally? Are there indicative web sites, or other resources for premarket rallies?

    This is probably a stupid question. Obiovusly I'm at a stage of learning, and so if one of you all knowing traders can be bothered to explain this in a few sentences, thank you.
  2. the answer to this question. Or the answer is there is no way to tell unless you work at a firm taking orders which indicate a rally worth of buys.
  3. sprstpd


    Use a broker that allows you to trade futures on Sunday evening, like IB. You will see the current futures quotes for ES, NQ, etc. You can't trade any stock then, just futures.
  4. Thank you very much. I would trade with IB but I can't stay out of the market long enough to move my money out of my Etrade account.


    You can't stay out of the market for one day?
  6. in one day? Please tell me.
  7. sprstpd


    Maybe set a new account up at a new brokerage and get used to it before transferring any money. Then transfer half so you can still trade at E*Trade with half the money. Wait for it to arrive. Then trade half at the new brokerage while you transfer the rest from E*Trade. Something like that?
  8. the quickest way to transfer cash out of etrade is what is called a wire transfer, and it's expensive. all the other ways that cost nothing take long periods of time. The next quickest way is to write myself a check using my etrade account to an already set up borkerage account, but I think this takes about three days, nothwithsatnding I don't have cash in any other account to use to set up an Ib account.
  9. So wire the funds from etrade to your bank account - then wire the funds from your bank account to IB. Providing that's what you truly want to do of course.(Or do a wire transfer from one broker to another - whichever is faster) note: not being able to sit out of market for a day or 3 sounds a little bit scary.

    I use IB and RealTick - I have futures data on both - I pay a fair amount of cash monthly for RealTick.

    I like RealTick - I consider it a cost of doing business. Also I see wiring funds as a cost of doing business. (if I want the business done timely)(not always the case)

    The way I see it is. Am I gonna daytrade or f*uck around. I choose to pay for some tools that I like and daytrade.

    disclamer: this is not meant to be an endorsement for IB or realtick - I'm not saying that they are better or worse than others - I am saying that this is what I like and it works for me over the long run for my trading.
  10. assuming you're a boy that is. Well, yes, I'm incapable of sitting out of the market for three days at the time being. Though of course I'm not a daytrader. crxa opened up and so I think I'm going back to bed for a couple of hours.

    I'm so obsessed with stock investing that I have trouble disengaging from it. I love it, and I don't feel it's a sickness, or its perfectly healthy as long as I win, or its perfectly normal to be passionate about one's activities so long as one is rational about them.

    Besides, I'm an art student, a dam good artist too, and my art is my first priority. My first priority relieves me of my obsession with investing. I could lose all my money and still be wildly succesful with my life through my art. Risk management.
    #10     Feb 5, 2004