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Suggestions on finding gaps
- Thread starter Kennyhas
- Start date
Quote from Bob111:
as i said-interactive brokers does have such scanner. here is your gappers
Thanks for the help. Predicting the direction of the hardest thing to do, and if we know where that is going then there will be a way to trade it profitably and consistently. Probably just need about 8 computer screen around me at the one time.
Quote from Kennyhas:
Thanks for the help. Predicting the direction of the hardest thing to do, and if we know where that is going then there will be a way to trade it profitably and consistently. Probably just need about 8 computer screen around me at the one time.
no need for that. it's been done numerous times. they will fade with 80% probability. like i said above-problem is-you are NOT going get filled at those prices.
Quote from Joman:
If you know what's going to gap before 9:28 you can use market on open order, the fills are pretty good.
And you can find your gappers with finviz too.
I think it's more effective if you watch the first 1 min candle then if the following 1 min candle heads in the direction of the gap I will buy or short depending on which way the gap is. If it doesn't I would leave it alone.
Think this is most effective however the problem is having to watch and place orders on 8-10 stocks all at once and at the same time (9:32am).
Quote from Bob111:
---You should backest your strat and see how much slippage you can take.---
i would add-ON TICK DATA! not on minutes or any other time frame 'bars'
even after that the results will be far away from real thing
The other way I have thought about doing it would be using financial spread betting and only trading stocks with reasonable margins that have good volatility and a low float.
Quote from Kennyhas:
For this to work if would need to be a gap of 3% or more, hence me looking for a specific website or scanner to provide this.
Also what is the RTH?
RTH is Regular Trading Hours.
A 3% gap is not going to happen if the instument has enough liquidity for trading purposes.
Quote from Kennyhas:
The other way I have thought about doing it would be using financial spread betting and only trading stocks with reasonable margins that have good volatility and a low float.
you sort of running on front of the horse. i would start from the list of stocks that are available for betting in whatever firm you are with.
cause last time i've checked MAN(?) in UK-the list of stocks you can bet on was pretty small and minimum account size is pretty big
and no spread betting for US citizens