a question on futures trading

[rdiiorio]

Hi All
I was wondering if anyone ever had kept open a sell to be offset the next day while trading the s&p e-minis and had the contract be higher the next day (eg; 873 -> 900)? What did you do?
Thanks
rdiiorio

[ACM]

Re: Reply to post 'a question on futures trading'

rdiorio
When you say "kept open a sell" do you mean that you carried a short trade
overnight?
If so and assuming that 27+ points is beyond your intended stop you close
the trade, take your loss and move on.
Having said that, you can place GTC stops on Globex and you would - in all
probability - cover a short (or liquidate a long) during the overnight
session. If the broker does not allow for GTC orders you can always place a
protective stop at the open of the new session (ie at 15:45 CT).
HTH
Alex

[zigzag]

gtc overnight stops

Alex,

I've been wondering about overnight stops on globex. Do you know if IB supports them?

I know that only a limit stop will reside on the globex server. How can you specify a wider limit range on IB (I know I should direct my question there....just trying to save a few minutes....thanks...) I know that the spreads can be pretty impressive late at night and would like to try and grab some points but feel quezy about placing a tight limit stop.

Peter

[ACM]

Re: Reply to post 'a question on futures trading'

Peter
I believe IB supports the GTC, Limit and StopLimit native to Globex while
adding its own Market and Stop orders.
All native orders though have to abide by the 2.5% trading band that Globex
implements.
As to overnight spreads they are actually not as wide as one would think and
are on average around 3 ticks. Liquidity however is not at its best and
especially at certain hours of the night (in conjunction with the opening or
closing of asian and european exhanges) you can see some running of the
stops.
Alex