Night trading Futures on ThinkorSwim

TimtheEnchanter · Aug 28, 2020

I am in California using ToS and sometimes trade Gold at night. Is there a way to display time to close on futures charts? It is confusing when there is a break or session end and showing time remains would be helpful. I always use stops but I am afraid to get stuck in a position when trading stops. No need for a bell-like stock trading but something similar?

AbbotAle · Aug 28, 2020

HomelyWizzard said:
I always use stops but I am afraid to get stuck in a position when trading stops.

Rule number 1 in trading.

Make sure you understand when a market opens and when it closes BEFORE you even think about trading.

As for getting confused when the market closes. If you take the time to find out when it closes you a) won't be confused, and b) will know how long you've got before it closes via looking at a clock.

Bugsy · Aug 28, 2020

AbbotAle said:
Rule number 1 in trading.

Make sure you understand when a market opens and when it closes BEFORE you even think about trading.

As for getting confused when the market closes. If you take the time to find out when it closes you a) won't be confused, and b) will know how long you've got before it closes via looking at a clock.

What about Rule #5.

TimtheEnchanter · Aug 28, 2020

AbbotAle said:
Rule number 1 in trading.

Make sure you understand when a market opens and when it closes BEFORE you even think about trading.

As for getting confused when the market closes. If you take the time to find out when it closes you a) won't be confused, and b) will know how long you've got before it closes via looking at a clock.

Well, wise words...in fact we live in 24-hour trading times (at least for some instruments), that is why some brokers specifically tell you when the close is) I guess Ninja does it. The trailing stops work into the next session, Sunday being an exception.

Zor_Champ · Aug 28, 2020

HomelyWizzard said:
It is confusing when there is a break or session end and showing time remains would be helpful.

Download the free version of Quantower and open the Exchange Times tab
Pretty nifty feature.

TimtheEnchanter · Aug 28, 2020

Thanks a lot! Great idea. I have downloaded the free version, but I do not see the Exchange Times tab.

Overnight · Aug 28, 2020

HomelyWizzard said:
I am in California using ToS and sometimes trade Gold at night. Is there a way to display time to close on futures charts? ...

Yer best bet is simply to write them down on a sticky-note and paste them to a monitor. Or better yet, memorize the trading times of the markets you are trading.

Big AAPL · Aug 28, 2020

Can't you simply place a brightly colored vertical line say 10 minutes before the close of the contract you are trading? It's the simplest method without doing any coding and every platform has that as a canned indicator.

TimtheEnchanter · Aug 28, 2020

Do you mean with thinkscript? I am concerned about trading on Fridays, as most other times it is a 24-hour market. There may be a thinkscript indicator for Friday's close.

Big AAPL said:
Can't you simply place a brightly colored vertical line say 10 minutes before the close of the contract you are trading? It's the simplest method without doing any coding and every platform has that as a canned indicator.

Big AAPL · Aug 28, 2020

I am not familiar with thinkscript. Virtually every platform I have ever used had horizontal and vertical bars as canned indicators. So, if your contract is GC, for example, which is active from 1700 to 1600 CT according to CME's website, place a vertical line at the appropriate time that you need to be alerted before the close. At least it gives you a visual alert that you are approaching the time to close. It won't give you a countdown but it is the easiest method WITHOUT resorting to programming.