"Think about this >>>>>>>>>>> most days during the next day, the previous close will be recrossed during the next days regular pit session hours. Now i have never researched that and if anyone feels up to the task maybe they could tell us the results. (ES)"
i have no idea about the ES, but i know the dow futures/cash index does this 84% of the time. i have specific stats for days of the week, premarket volume, etc. that signify when it is more or less likely to occur, but that is the overall #. but on average the closing price will be touched (not necesasrily crossed) about 85%of the time.
this is fundamental to a gapfill trading methodology, knowing all the #'s and statistical probabilities.
as for overnight stuff. sorry. i've watched the dow futures and held positions overnight. the dow is arbed extensively, it is affected by (obviously) what is happening in europe and asia, etc. could a fat fingered dood cause a massive run? well, it's POSSIBLE. heck, it happened DURING market hours on the nikkei not too long ago.
regardless, it's called TRADING. sometimes your stop is hit, and then then market reverses. so what? that's part of trading
also, distinguish between position trades and intraday trades.
i have a dow contract i have held since August. one long. that;s a position trade. one contract
i also intraday scalp the dow futures. in a different account.
the two are unrelated
i NEVER NEVER NEVER hold overnight in the daytrade account (my futures position). but that's in that account.
daytraders are loathe to hold overnight. i make my INCOME daytrading, but I have stocks and positions i have held for many many years. when a good opp comes along, seize it and hold on to that puppy. participate in the great american economy. that's part of building wealth. regardless, just segregate the accounts.
at this point, i have so many accounts it is getting annoying, frankly
i have a master advisor account with 5 client accounts under it
i have a roth ira account (untaxed, obviously)
i have a swingtrading account (taxed)
i have a futures daytrading account (i trade some stocks in it too)
i have a "buy and hold" (longterm taxed account)
i have a deferred comp account (taxed. 50% in classic mutual funds, and 50% in stocks and commodities)
and i have conventional IRA account that I rolled into
and again, there is LESS risk holding futures overnight than stocks (although I hold both - but NOT in my daytrade accounts), since you (and your stops) can react to market/world events, whereas your stocks will not CHANGE until the mornign when they open, but the EVENTS that cause the change will occur w/o them. that's why there are gaps (well that, and order imbalances, which is often releated to world events, but i digress).
that is just basic math. it's inarguable.
i have no idea about the ES, but i know the dow futures/cash index does this 84% of the time. i have specific stats for days of the week, premarket volume, etc. that signify when it is more or less likely to occur, but that is the overall #. but on average the closing price will be touched (not necesasrily crossed) about 85%of the time.
this is fundamental to a gapfill trading methodology, knowing all the #'s and statistical probabilities.
as for overnight stuff. sorry. i've watched the dow futures and held positions overnight. the dow is arbed extensively, it is affected by (obviously) what is happening in europe and asia, etc. could a fat fingered dood cause a massive run? well, it's POSSIBLE. heck, it happened DURING market hours on the nikkei not too long ago.
regardless, it's called TRADING. sometimes your stop is hit, and then then market reverses. so what? that's part of trading
also, distinguish between position trades and intraday trades.
i have a dow contract i have held since August. one long. that;s a position trade. one contract
i also intraday scalp the dow futures. in a different account.
the two are unrelated
i NEVER NEVER NEVER hold overnight in the daytrade account (my futures position). but that's in that account.
daytraders are loathe to hold overnight. i make my INCOME daytrading, but I have stocks and positions i have held for many many years. when a good opp comes along, seize it and hold on to that puppy. participate in the great american economy. that's part of building wealth. regardless, just segregate the accounts.
at this point, i have so many accounts it is getting annoying, frankly
i have a master advisor account with 5 client accounts under it
i have a roth ira account (untaxed, obviously)
i have a swingtrading account (taxed)
i have a futures daytrading account (i trade some stocks in it too)
i have a "buy and hold" (longterm taxed account)
i have a deferred comp account (taxed. 50% in classic mutual funds, and 50% in stocks and commodities)
and i have conventional IRA account that I rolled into
and again, there is LESS risk holding futures overnight than stocks (although I hold both - but NOT in my daytrade accounts), since you (and your stops) can react to market/world events, whereas your stocks will not CHANGE until the mornign when they open, but the EVENTS that cause the change will occur w/o them. that's why there are gaps (well that, and order imbalances, which is often releated to world events, but i digress).
that is just basic math. it's inarguable.
