Friday, 25 May 2012

Night Trading

I missed a hedge in one of my option strategies yesterday. I had to buy some SPX call options and due to a bunch of reasons, all my own fault, I missed the buy as my original limit order was not filled and I didn't manage the order as I should have.

OK, what to do? Options in the SPX don't trade outside of RTH. My fallback position was the futures. As you probably saw, there was a pop in the ES near the close, so I judged that there would probably be a pullback during the night. I then picked a spot where I thought the pullback would hit - I looked at the Profile as well as my bar chart. I placed my order at 1317.00 and was pleased to see a fill when I woke up. It was an awesome buy as the low was 1316.75. The market was trading over 1319.00 at the time I woke up so I was doubly pleased. My ES hedge was an over hedge, as I thought that if I filled there I should buy more than I needed as value was moving higher.

This morning, price firmed up very quickly after the London open and I was able to sell my excess ES at 1327.00. Might be worth doing this night trading more often.


  1. Are your FavFibs calculate on the previous daily range ? or on last significative swing ?

    Do you use the floor pivot points too,in the old way like you have used in the pit ? thanks.

  2. Anan 01:07, Swings. I don't use floor pivots.

  3. jenrique42
    this was my entry into the DAX today, the screen on the left, where the red arrow, in short, of course, in 415, the rest is history

    esta ha sido mi entrada en el dax de hoy, en la pantalla de la izquierda, donde esta la flecha roja, en corto, por supuesto, en 415, lo demas es historia