I was wondering if it's a good idea to trade index futures at night (i.e. trading from 6:00pm ET - midnight). I have a day job and my firm doesn't allow daytrading. I still want to learn how to trade, but can't do so during the normal market hours since I work a normal 9 - 5 job. Therefore, I was wondering if trading after market hours would be the same as trading during the day and if there are any pros and cons in doing so. I plan on trading 1 contract of ES only and plan on doing some paper trading as well. Any advice would be very much appreciated. Thanks in advance!
The ES doesn't really move much in the time frame that youre talking about. Your broker likely has some markets overseas that you can trade that will give you a better paper trading experience so to speak. Good Luck.
Agree with Drew. Most definitely not. The spread can get quite wide. I've talked to a few traders who've taken some big hits after hours trading. CajunSniper / Puretick.com Administrator-Trader
can you name me some overseas index futures that "move" in the time frame that i specified? i want something that trades similar to the ES or YM (i.e. has leverage). If not, can you point me in the right direction? thanks
No, not a good idea. Don't do it. And what do you mean by you having a "normal" job? I find that insulting that you would say a traders job is not "normal". In fact I think it is a very "stupid" thing for you to say. I personally think people who work 9 -5 jobs are underachievers and have low ambition. They are order takers and like people to tell them what to do. They need a disciplined work environment because they don't know how to work for themselves like a daytrader does. Most daytraders are all overachievers and businessmen/woman. They are highly educated people prefer to work for themselves other than to work for somebody else and make that somebody else rich. Daytraders are known for having a higher than average IQ. They are smart enough to not work for somebody else on 9-5 job. I think you are the one with the job that is not "normal". And you are not normal for coming on here for thinking that a 9-5 is normal.
The only thing I have done is OCASSIONALLY, when I have a price projection that I'm looking for with respect to a POSITION PLAY (not just a scalp), I will place a limit order where I'm willing to enter the position. Otherwise, it's generally better to avoid the after hours, especially from scalping / short-term trading standpoint.
On the Hong Exchange, I like the Hang Seng Index and the Hang Seng China Enterprise Index, and on the Singapore Exchange, I like the MSCI Taiwan Index.
Give me a freaking break. You find it insulting???? Hypersensitivity is out of control these days if this is what you find insulting. How about saying that people that work 9-5 jobs lack ambition. Is that maybe a little overboard? I know a lot of people that work "normal" jobs and are very ambitious and aren't order takers.
Another option is to demo trade the US market in the evening. When you take vacation, you can trade for real. Maybe at some point you can move to part time as a step towards your goal.
If you can't stick to the discussion - why even open your yap? We all know precisely what he means.. as do you ... Sorry for the off topic .. but this type of person is what drives sites like this down. Another thought for you, take a look at currency futures - not necessarily forex but the CME futures. Make 'em pretty, Chris