Thanks for the feedback. The UK indexes open at 7pm my time and the spread is pretty good. The SnP AH futures move in sync with the FTSE100 but with smaller amplitude. Once the US markets start opening up they diverge a little usually the SNP will trend towards the previous close as premarket traders work out the world hasn't come to and end or that all the US troubles have disappeared over night. F/X and commodities get interesting as the various exchanges open up around the world Asia, Eurpe and the US, you often see big moves on nothing at the various opening times. I'm currently paper trading EUR, Cable, Oil and Gold on these openings but havent found any biases. Looking to try either pick the move direction or fade after the move. Cheers
Thanks I don't have the 30 year on my platform. I can trade the 10year though. Cheers PS I'm long on the SnP at 1269.6......
4 Sep Long 1269.6 Closed 1243.2 -26.2pts For Sep -21.7pts Ouch, I will definitely be revisiting my no stop policy....
I would definitely like to see what you were looking at when you took this trade. Your stop should be only 1-3 points. If you need more room than that than your entries are either too late or too early depending on which direction you are taking.
Thansk for your message. I usually am relucatant to let a small winning position turn into any sort of loss, let alone huge one like this. But I simply got greedy I could just not believe that the market would tank that badly without one bounce. And I planned a heroic exit on a bounce that never came. I made exactly the same mistake last year and it cost me a lot of money. Once it gets pat midnight here my decision making skills decrease. Its a real weakness for me that sometimes when things go against me I believe that I can trade my way out. Re stops according to my model I am more profitable with a stop of 4-6pts than 1-3, last night I just didn't use any stops at all and got on the slippery slope to a big loss. Cheers