Dear Fellow Trading Brethren,
I wrote a post recently regarding global exchange trading, namely the ES. Ever since, I got many questions on the subject.
I thought it would be a good opportunity to start a thread on the subject of GLOBEX trading in today's markets - What it's like, who does it and how they do it...
Personally, I live in Western Australia, where the time difference is a whopping EST +12. However, I don't see it as a disadvantage at all - I love my time schedule (I can sleep in late everyday haha) and I can take care of my other businesses in the daytime (I started by building a business during the daytime while trading all night long!). It's also great to have the exact 12+ time, making the time difference calculation pretty easy. My god isn't Trading difficult enough the way it is?
Besides, I think I'm better off than most Americans, who have to get up between 2:00 am and 6:00 am (except for ppl living in NY, of course).
While these days I tend to monitor the XTO, XJO, XKO (S&P100, 200, 300 ; Sydney Futures) during the local daytime (I have alerts that call me into the office whenever a nice retracement level is hit), I also really like trading the ES globex between 1:00-9:15 EST. Most trades happen from 2:30-3:00 onwards (little liquidity before that), right till the U.S Open.
I'm already long into the futures when everyone is still trying to analyze what's going on while rubbing sleep from their eyes. I define this as another "edge"
What I love about the Globex session is the awesome smooth trends / waves coupled with very low-range bars and little noise, making ultra-tight-stop reversal plays from retracements a great opportunity. Also, you're not competing with so many pro's and head-fakers :eek:
I tend to look at 2,3,5M charts. I really like playing the 5-min reversal bars (the "spiky" things). Just look at the last few day's globex sessions and you'll know what I mean with playing pivots.
I also like to be long/short right from the open, to play the subsequent morning gap closures (pretty reliable, particularly if MA's, ret. levels and fib circles etc support the CT trade.
Many days, I will have already made several points when most ES "players" are still playing in dreamland
Well, everybody who can speak from experience(s) with GLOBEX and / or lives in a place more conducive to this unfair behaviour (Europe, Asia), is very welcome to contribute and share. I will be happy to answer questions, and be even happier to hear how you do it and your experiences. I'm sure I'll be able to learn a lot here... And please, as always, keep the thread clean and don't deviate from the subject. Many Thanks.
Yours Faithfully,
~The Scientist
I wrote a post recently regarding global exchange trading, namely the ES. Ever since, I got many questions on the subject.
I thought it would be a good opportunity to start a thread on the subject of GLOBEX trading in today's markets - What it's like, who does it and how they do it...
Personally, I live in Western Australia, where the time difference is a whopping EST +12. However, I don't see it as a disadvantage at all - I love my time schedule (I can sleep in late everyday haha) and I can take care of my other businesses in the daytime (I started by building a business during the daytime while trading all night long!). It's also great to have the exact 12+ time, making the time difference calculation pretty easy. My god isn't Trading difficult enough the way it is?
Besides, I think I'm better off than most Americans, who have to get up between 2:00 am and 6:00 am (except for ppl living in NY, of course).
While these days I tend to monitor the XTO, XJO, XKO (S&P100, 200, 300 ; Sydney Futures) during the local daytime (I have alerts that call me into the office whenever a nice retracement level is hit), I also really like trading the ES globex between 1:00-9:15 EST. Most trades happen from 2:30-3:00 onwards (little liquidity before that), right till the U.S Open.
I'm already long into the futures when everyone is still trying to analyze what's going on while rubbing sleep from their eyes. I define this as another "edge"
What I love about the Globex session is the awesome smooth trends / waves coupled with very low-range bars and little noise, making ultra-tight-stop reversal plays from retracements a great opportunity. Also, you're not competing with so many pro's and head-fakers :eek:
I tend to look at 2,3,5M charts. I really like playing the 5-min reversal bars (the "spiky" things). Just look at the last few day's globex sessions and you'll know what I mean with playing pivots.
I also like to be long/short right from the open, to play the subsequent morning gap closures (pretty reliable, particularly if MA's, ret. levels and fib circles etc support the CT trade.
Many days, I will have already made several points when most ES "players" are still playing in dreamland
Well, everybody who can speak from experience(s) with GLOBEX and / or lives in a place more conducive to this unfair behaviour (Europe, Asia), is very welcome to contribute and share. I will be happy to answer questions, and be even happier to hear how you do it and your experiences. I'm sure I'll be able to learn a lot here... And please, as always, keep the thread clean and don't deviate from the subject. Many Thanks.
Yours Faithfully,
~The Scientist