Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Just using RTH, 6:30am - 1:15pm Pacific. Also, the price used for yesterday's close is not the last bar's print, rather, they use globex settlement, which is often different.
shodson
OC, California, USA
Quantoholic
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709
All of the MTG backtesting is based on RTH only. If a stop is not hit or the gap is not filled at globex session close then you close out your position, no overnight trading.
shodson
OC, California, USA
Quantoholic
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709
Scott has a pretty good analysis ( video) about the recent string of unfilled gaps: September historically has the lowest win rate of all other months for gap fading, but is still historically profitable using MTG stop parameters.
If u think the Gap trading is applicable to futures like to equities.
Take your Pips, go out and Live.
Luke.
shodson
OC, California, USA
Quantoholic
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709
Yes it is, in fact, all of my gap trading is with futures, not equities. They are equity futures, so maybe that's why you think I'm trading with equities instead of futures, but ES, YM and NQ are the equity futures I gap trade with.
I think u misunderstood, I do not think u trade equity, but that u had post a link to equity Gap Trading and u trade futures, so i asked u if u don't think the mechanism for this different market for gap trading is different, so maybe not applicable to futures that have near 24 h trading.
Hope I have been more clear.
Take your Pips, go out and Live.
Luke.
shodson
OC, California, USA
Quantoholic
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
Posts: 1,976 since Jun 2009
Thanks Given: 533
Thanks Received: 3,709
Monday, September 13th - Large gaps up following the developments in Basel had me a little hesitant about fading large up gaps, but I stuck with it. NQ stopped out pretty decisively early on while ES stopped out with an end-of-day stop for a small loss.
I saw a nice inside bar reversal setup on CL and trailed it with MOBO bands for +57 ticks. I had a target of 100 ticks and it got within 12 ticks of there but then turned around and forced my hand.
Another day that didn't fill it's gap. This hasn't happened in decades.