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Who trades futures in the "wee" hours?
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Who trades futures in the "wee" hours?

  #11 (permalink)
Market Wizard
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Trade from tonight for ETH, Asia session. Kept it small (10 lot), but decent little trade with no pain.

 
 

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  #12 (permalink)
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CenFlo View Post
I trade the Asia session and at times the Europe session, although the latter messes up my sleep schedule being in the US, EST.



You are for the most part correct about price levels and how things move. The pace is much slower than the the US RTH session and that's a good thing.



I look at it this way, @ 2000HRS (All times EST) another major market opens (Japan) and the US (/ES specifically) will follow that market typically within levels that have been set during the day, RTH session.



In addition the /ES will follow our (US RTH) prevailing trend. The /ES trend can reverse, at least temporarily, if the Asia markets show to much weakness, but for the most part the support/resistance levels during the day will hold. At 2115-2130HRS the next set of major markets open (HK / China) and the same holds true. Often after the Japan move, the /ES will consolidate and then move again with the HK and CNY market open.



Same is for the most part true for the Eurozone session, @ 0200HRS, EST another market opens and @ 0300HRS, EST, the "Big Dog" of Europe opens (Dax) and again we follow their movement. If you follow the global markets closely, you'll see patterns and rhythms within the /ES that form, retrace and oscillate around the S/R levels.



Many people discount the ETH session, but there's plenty of opportunity there to make $$. One word of caution is due to lower liquidity news events can trigger big down moves (think Brexit, Trump election, Syria bombing, etc.).



I occasionally trade /CL and /GC in the overnight, but typically do this in the 1800-2100HRS time frame and mainly if the /ES isn't moving or I missed the /ES move.



In response to your comment "think Brexit, Trump election, Syria bombing, etc" Thinking back to the Trump election, wasn't that the last time the ES traded limit down for a brief period?

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  #13 (permalink)
Market Wizard
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nb10071981 View Post
In response to your comment "think Brexit, Trump election, Syria bombing, etc" Thinking back to the Trump election, wasn't that the last time the ES traded limit down for a brief period?

Yes, that's the last limit down we've had and it came in the O/N session. That was my point as liquidity is much thinner and moves can easily be exacerbated.

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  #14 (permalink)
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I find CL easier to scalp during the O/N session. Once you can clearly spot a change in behavior in the order flow (imbalance or stacking of orders on one particular side of the book) The probability of a three to six tick move into those orders is fairly high. It seems once the book is tilted towards one side, price tends to drive into the more populated of the two. This almost always works for an easy 3-6 tick trade during the O/N session as compared with the US session. In the US day session the larger side of the book tends tends to do the pushing, instead of pulling.

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