Nighttime trading strategies


#1

Darrell, i will soon be moving off demo in my forex spread trading which I do full time four days a week during the day. I would like to set some trades for the night time trading hours and begin trading on dero. But I don’t want to be sitting at computer all night. I know I could pick some spread contracts and set a stop trigger and profit taking targets to run during the nighttime session. But, is there something else I should be looking also?


#2

Funny you mention that… See https://forum.apexinvesting.com/t/swing-breakouts-at-night-yes/5158?u=darrell


#3

I went through the info you refrerred me to. Actually, I was looking for something where I coulld set the trade and it run through the night. Last night Iset two trades before ending my day with stop loss and take profit levels and made $170 on 5 contracts when I returned to start a new trading day. May be this is the only solution to what I am trying to accomplish. Then again, given the results, may be I should do all my trading taking this approach LOL


#4

Dusty, Darrell is making a recommendation to you. You are still the person who ultimately decides your own personal trading plan. On three different occasions, Darrell recommended to me to look into iZone Sharpshooter (IZSS). I ignored his first two recommendations because I didn’t feel it would fit the trading plan I had in mind. After my first two attempts virtually tanked, I decided (on his third recommendation) to try IZSS… I’ve been posting successful trades since! Here’s some advice to share with you that I picked up from the APEX staff: Don’t chase trades - if the market runs past your entry before you can set it, wait for the next signal… Be picky on your entry… Be patient with the trade… End result? Profit… (The three Ps - Picky, Patience, Profit) :grinning:


#5

Sound advice. Thank you.


#6

Set and forget luck does not make for a wise system you can count on day in and day month in and month out to pay the bills. Sit focus and make it your profession. Remember full time income does not mean full time trading.


#7

Darrell, do I correctly interpret your comments to indicate you don’t consider there to be any reliable system that allows you to set the trade and go to sleep?

I know with iron condors you theoretically can set stop orders and profit orders, but I’m nervous about that because the stop orders depend on my computer being on, the Apex scanner being connected to my Nadex account, my internet connection staying active, etc.

I am new to trading and Apex and am excited about using the active trading systems (had some good success demoing already) but I am also looking for trades that can be set before you leave the house, go to sleep, on vacation in the morning before you leave the hotel, etc. I’m more interested in consistency than big profit numbers.


#8

@Jcsheats

With Nadex, the only trades you can really do like that are Straddles/Strangles. But if you dont have a very good reason for taking them (news, big event etc) Most likely they will often fail.

Pretty much any type of trade taken on Nadex will require use of Apex’s scanner/stop trigger, if you want to limit your risk on the trades


#9

In general we do not promote walking away from a trade. Yes, with Iron condors you could technically do that , or straddles, if you were to enter your order, set a take profit, and set a stop with the Stop plug, but yes, again, as you mentioned you would need to make sure your computer stayed connected


#10

Yes, that was the conclusion I was coming to… the concept of setting a straddle and walking away sounds nice, but what I quickly found is that the spreads that give you the most time to wait for a straddle take-profit to execute also don’t let you buy that spread for cheap! :slight_smile:

I can see how to do it with an iron condor, but I was very disconcerted once to see my stop trigger not execute because my Nadex login got screwed up! The stop trigger wasn’t getting the index data so it didn’t do anything. Once I refreshed my Nadex login everything was fine but I realized that could go very badly if it happened with a live trade!