Another day, another year, another decade ... another new high
.... lol ... if you missed last Monday's
"""correction""" ... be patient, there will be another one in 3
months .... lol ....
yep that's how the market has been. Anyway ES Breakout system
long, while SPY is not, which went long on Monday.
that's another real time example you see why even though ES and
SPY are 99% correlated I like having systems on both because they
still do different trades and while they do a lot of the same
trades there are a lot of times like this where one will catch a
trade the other misses, and you therefore get a lot more
opportunity for trades and more filled in dates, so when I do
eventually bring the ES to the website that will be cool
that said the only concern I have is that ES and SPY daily
charts have different closure times. SPY closes at 4 EST when
the cash market does, and ES closes at 5 pm EST 1 hr later. There's
no problem trading ETF's for that in after hrs but you can't buy
options that late. My initial thought is that if the ES order is
there by the 4 pm close to go ahead and send it anyway. Is
there a chance the trade conditions could go away during that 4 - 5
pm hr? Yes however because it's after hrs for the general cash
market moves are generally small and I think that most trade
signals that are meeting at 4 pm on ES will stay by the 5 pm close.
But is there a chance they could go away? Yes, and what do we do
then? close the trade the next morning on the options. Anyway
you can see there's a bit of complication there
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Another day, another year, another
Posted by mla127 on 2nd of Jan 2020 at 09:21 am
Another day, another year, another decade ... another new high .... lol ... if you missed last Monday's """correction""" ... be patient, there will be another one in 3 months .... lol ....
yep that's how the market
Posted by matt on 2nd of Jan 2020 at 09:47 am
yep that's how the market has been. Anyway ES Breakout system long, while SPY is not, which went long on Monday.
that's another real time example you see why even though ES and SPY are 99% correlated I like having systems on both because they still do different trades and while they do a lot of the same trades there are a lot of times like this where one will catch a trade the other misses, and you therefore get a lot more opportunity for trades and more filled in dates, so when I do eventually bring the ES to the website that will be cool
that said the only concern I have is that ES and SPY daily charts have different closure times. SPY closes at 4 EST when the cash market does, and ES closes at 5 pm EST 1 hr later. There's no problem trading ETF's for that in after hrs but you can't buy options that late. My initial thought is that if the ES order is there by the 4 pm close to go ahead and send it anyway. Is there a chance the trade conditions could go away during that 4 - 5 pm hr? Yes however because it's after hrs for the general cash market moves are generally small and I think that most trade signals that are meeting at 4 pm on ES will stay by the 5 pm close. But is there a chance they could go away? Yes, and what do we do then? close the trade the next morning on the options. Anyway you can see there's a bit of complication there