Getting spiked during after hours trading

nxt7 · Apr 28, 2016

I just got spiked overnight with a loss that even breached my stop. Online quotes haven't even changed from yesterday's close but during after hours trading it seems to have dropped a few %. Now it seems to have returned back to its normal price level and proceeding as expected so i'm pretty mad right now.

Where do I get access to daily or intraday after hours charts? I've searched but haven't been able to find anything other than just displayed quotes yet. Appreciate any advice. Thanks

hurricane_sh · Apr 28, 2016

After-hours trading is minimal, I don't think there is enough data to form a chart. The price is random, I wouldn't worry about it unless there is big news or financial report.

nxt7 · Apr 28, 2016

hurricane_sh said:
After-hours trading is minimal, I don't think there is enough data to form a chart. The price is random, I wouldn't worry about it unless there is big news or financial report.

Wouldn't worry? The SPX traded just below 2083 in after hours trading from its previous close of 2095.15. Thats a huge move in my book especially for something like the SPX

newwurldmn · Apr 28, 2016

You can look at the futures for what the spx is doing.

and FWIW, the SPX is down because of news out of Japan RE: stimulus there.

If it mattered to your portfolio you should have been watching it.

luisHK · Apr 28, 2016

Ditto Newwurldmn, besides OP what products where you stopped in ? the big move following the news from Japan happened after US equities post market hours, and i can't imagine anyone holding futures or forex positions not aware of how to get after hours charts

wrbtrader · Apr 28, 2016

nxt7 said:
Wouldn't worry? The SPX traded just below 2083 in after hours trading from its previous close of 2095.15. Thats a huge move in my book especially for something like the SPX

Who is your data vendor ?

Its strange you don't have access to overnight data as in "all session data".

NoBias · Apr 28, 2016

Luck favors the prepared... The Market slaughters the unprepared...

The SPX is an index, it isn't traded. It definitely didn't "Trade" in the after hours.

I suggest you perform your due diligence and become familiar with the trading hours of the instruments you intend on trading before you risk another dollar.

You should also become familiar with the various volatility events as well... Study an economic calendar which clearly identifies the times of scheduled economic data releases...

Another concept you may consider researching is Stop Hunting...

FOMC statements, ECB meetings, BOJ, unemployment claims/rate, housing, oil inventories... etc... often create wild whipsaws, nothing surprising at all about stops being taken outside of regular market hours...

If you are going to trade, you need to educate yourself first... otherwise you are just another feeder fish...

Handle123 · Apr 28, 2016

I learned over night not to use stops and if I was concerned about some position, use options for safeguard. I know it is expensive loss, but it becomes another rule for your Trading Plan. It is hard to backtest, but having rules in place keeps one more happy while I sleep. I use to also have PC on with baby monitor so I hear alert when prices hit areas and half the time, price bounced back before I get to my computer.

Stockmarketmap · Apr 28, 2016

These are the short term, random moves that strike fear in the hearts of short term trading disciples. After a few years of these, I converted to holding positions / investments based on long term trends and sleep much better at night.

James
Director, Quantitative research
XXX
Boulder, CO

der_kommissar · Apr 28, 2016

nxt7 said:
I just got spiked overnight with a loss that even breached my stop. Online quotes haven't even changed from yesterday's close but during after hours trading it seems to have dropped a few %. Now it seems to have returned back to its normal price level and proceeding as expected so i'm pretty mad right now.

Where do I get access to daily or intraday after hours charts? I've searched but haven't been able to find anything other than just displayed quotes yet. Appreciate any advice. Thanks

You must have missed all of January-February. Last night wasn't even an average range for the overnight futures markets at the start of the year...25-30 pt ES moves just about every night.