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Registered User
Joined: 11/28/2005
Posts: 15
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I have always stayed away from after hours trading, since it is not like the regular market. Since I have an 8:00 - 5:00 job, the only time I can do anything while the market is open is during lunch, in which case I don't have my Telechart with me. Obviously, I am not a day trader. I hold stocks about 30 days on the average, so perhaps it is not even worth wasting time thinking about it.
Does anyone out there have experience in extended hours trading and care to comment if this is to be avoided or is it useful provided you buy with limit orders?
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Registered User
Joined: 10/7/2004
Posts: 2,126
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gsherrmann, It is ok to trade afte hours. You just have to be aware of a few things.
1 - it isn't a dinamic market - no market makers, no market price.
2 - all your orders will have to be limit
3 - orders are system matched
4 - most important NO SPECIAL INSTRUCTIONS so be careful here. lets say you want to buy 5000 shrs of ABC at $5 limit. If the system finds a match for your order for 300 shrs it will execute. So you wind up with just 300 shrs and will pay the full commision.
If you are interested in after market hours trading the best service available to do so is Midnighttrader.
Just so you know most of the pre,and after market trading is news based.
good luck.
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Registered User
Joined: 12/31/2004
Posts: 382
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I have try too buy some shares after hours . At my Broker I can see whatits sell for after hours I would never pay that much for that stock so i put what I.m well too pay .I never got a order filled yet...
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Registered User
Joined: 5/17/2005
Posts: 221
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both the after hours guys !!!
do not buy or sell stocks pre or after markets. the prices can really be manipulated.
Instead place limit orders at a price that you are willing to buy the stock ( may be support , 50 day ma, etc ) . Most stocks that ramp up come down just as fast on pull backs ...check out August price action in NVAX. Buy on the pull back.
I use Telechart real time ..so can do a scan for stocks that have moved 20 % in five days and then buy on the 1 hour charts . I create a list at the end of a week ( gives me about 50 stocks). I then scan daily for oversold on the 1 hour charts (using cci and stochastic confirmed by volume) .. this is my buy entry . This technique may help you in getting fills. Do not chase a stock that is going up fast , wait for the pullback .something like Silver Wheaton right now is a great stock to swing trade as it is an upward trending channel . Just buy at the bottom of the channel and sell at the top. When you buy place a tight stop just under the channel.
Also get a good online broker account ... like ameritrade or similar .. or better yet get a direct access account.
Good luck !
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Registered User
Joined: 12/2/2004
Posts: 1,775
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I often place orders pre or after market. Once in a blue moon I get a small fill at an outrageously good price. Truth is that I probably took advantage of someone else's mistake. Being early on news bad to one of your holdings can really pay with quick action in pre/after mkt, especially very early or very late. Here your broker's extended time frame may be a difference maker. With MB Trading pre-market starts 2 hrs before reg. open, and extends 4 hrs. past reg. close (6:30 a.m.- 7 p..m Central). And there's no dead period inbetween, all seamless.
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Registered User
Joined: 1/28/2006
Posts: 291
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Perhaps opening trading accounts in regions/markets that trade when North American markets are closed would be better than the limited options currently available here.?
Just a thought...
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Registered User
Joined: 5/17/2005
Posts: 221
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if you guys want to trade after hours try FOREX trading .... 24 hours per day Sunday to Friday ...I am moving away from day trading and trading forex (more profitable !)
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