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Another Day, Another Gap..

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john_1
Super Contributor
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92 REPLIES 92
trigger
Frequent Contributor
hi john, so what would your strategy be this morning trading this gap? do you draw a couple lines one high and one low and if it breaches trade in that direction? interested to know. cheers
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Not applicable
Hi John which gap are you reffering to? I got global trader no, but im still a little new, please tell me exactly what you looking at?
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Not applicable
Hi John which gap are you reffering to? I got global trader no, but im still a little new, please tell me exactly what you looking at?
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john_1
Super Contributor
we closed the futures at 18250 and are going to open at 18750 0dd thats a jump of 500 points.
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Thanks John, Is there any free charting software that yo know of, that will help me monitor the futures?
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trigger
Frequent Contributor
so then john would you strategy assume that the gap is going to close in which case you have gone short or do you also have a strategy that factors in the fact that the direction of the gap is up and it could just carry on up?
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john_1
Super Contributor
I do nothing til 9 am and then I set my traps.
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SimonPB
Valued Contributor
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trigger
Frequent Contributor
hmmm, mysterious john. yes simon in a perfect world. if you know you are right and then discover you are wrong did you assume you were right?
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cfm
Super Contributor
You always need to wait for confirmation that the gap is being closed before entering. Not all gaps close immediately, or even on the same day.
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SimonPB
Valued Contributor
you can not "know you are right". You can hope you are right, that's all. An if you're using hope to trade, you're dead. At the end of the day trading has nothing to do with knowing - because you can;t know. Stop even tryiogn to know - just trade the price. That is the only truth.
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John u set your traps at 9 am?...I think that u might find the traps have been set for you...why so hasty?
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john_1
Super Contributor
What I mean is I do nothing until 9am at least..
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Not applicable
err than why would you even do anything at 9?...
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trigger
Frequent Contributor
setting traps is nothing you know, where are these traps
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Not applicable
What are you guys thinking, the gap is drifting further away, will it close the gap???
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Not applicable
well that depends where the "traps" are
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Not applicable
pafko...this is exactly why I say wait for 10 am
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john_1
Super Contributor
Sure this hour delay on the ftse does mess us around quite a bit, and basically it is very unlikly to get any kind of trigger before 10am anyway.
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