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TFC Commodity Trading Forum

Re: Feb Gold/Testing Resistance/Lee/Trades

Hi Trades,
Thanks !!
Your comment "I just trade regular trading hours as that's where most of the trading is taking place."

Is a better wording of my question. E.g. for gold I get 6pm eastern to 5:15pm eastern on the charts with no distinction for "regular trading hours". I notice that your daily charts often show the gaps from over night trading. This is what raised the question.

I understand your point on why you only trade "regular hours", nor pay attention to over night action.

I offer the following though:
My Ng short 3.085 that got away from me last night maxed out at 3.12 and I was about to close it out and take the hit when it started to drop (around 8 pm last night). I held on and kept an eye on it, having fixed the stop (which was tight and I could have lost a bit more if stopped out) but as things went price came down all night, right into the report. Having moved the stop down a bit (actually a small profit) I held on into the report (expecting the normal healthy whip saw) but as the world turned the response to the report was pretty mild and I got out with a decent profit at 3.03.

So, in this case, had I given up on the overnight trading I would have had a fair loss.

I'll have to give your second sentence some more thought ....
"I never trade or pay much attention to night trading as that is nothing but a lot of hanky panky between the sharks and a lot of speculators trying to make a quick buck. And what occurs at night often is not reflected the next day so just don't spend time on it."

I have always taken this to be Asian and European trade, where there is less interest in trading the US markets ???
Thanks, Lee