Who trades when?

Discussion in 'Index Futures' started by jwcapital, Sep 28, 2010.

  1. I have been trading ES futures and futures options for many years, and I am curious. Who trades when? Folklore suggests that "dumb money" trades at the open (9:30AM) and most of the morning. The "smart money" starts to come in around 2:00PM EST and trades heavily at 4:00 PM EST. Who is trading from 4-4:15 PM? By looking at the volume, it appears that smart money continues to trade during this period. Now, who trades from 4:30PM to 5:30 PM? Institutions, individuals, foreign investors? When the market reopens at 6:00 PM, who trades? I know that New Zealand/Australia markets open--so do those investors trade at 6:00PM? Do any Americans (institutions, individuals) trade overnight? When do American traders begin trading in the morning? Just been curious. Appreciate comments.
  2. blox87

    blox87 Guest

    4-4:15 = institutions
  3. Pekelo


    Not an expert, but the smart money should be trading whenever the market moves, which is usually not 2 ET, but more like the first 90 minutes and the last 90....

    Also, the smart money should be position trading, so the time is really irrelevant, but the price isn't...