premarket trading

[JS 10]

Hi all,

due to some circumstance changes, I might be only able to trade premarket moving forward, probably before 7:30am. Anyone has done it with success? What is your criteria for stock selection? I could not find much resource regarding the topic. I do know some limitations of premarket trading such as  less liquidity, bigger spread, cannot use stop order etc. but I would like to give it a try without giving up day trading all together. Thank you!

Edited March 8, 2021 by JS

[Bryan W 50]

You also must use limit orders, and on that note, PANIC won't function.

[Alastair 114]

10 minutes ago, Bryan W said:

You also must use limit orders, and on that note, PANIC won't function.

 

In ur opinion would the following STOP work in pre-market  as a double click then hit the hotkey?

 

BUYSIDE-Pre-market STOP LIMIT  at CMEG :

CXL ALLSYMB; Route=Stop;     StopType=LIMIT;   Share=Pos;   StopPrice=Price;   TIF=DAY;   Price=StopPrice-0.05;    SELL=Send;

 

[JS 10]

7 minutes ago, Alastair said:

 

In ur opinion would the following STOP work in pre-market  as a double click then hit the hotkey?

 

BUYSIDE-Pre-market STOP LIMIT  at CMEG :

CXL ALLSYMB; Route=Stop;     StopType=LIMIT;   Share=Pos;   StopPrice=Price;   TIF=DAY;   Price=StopPrice-0.05;    SELL=Send;

 

would like to know as well. 

 

I am able to enter a position using Kyle's hotkey by double clicking the chart. 

[Bryan W 50]

 

Edited March 9, 2021 by Bryan W

[Bryan W 50]

29 minutes ago, Alastair said:

 

In ur opinion would the following STOP work in pre-market  as a double click then hit the hotkey?

 

BUYSIDE-Pre-market STOP LIMIT  at CMEG :

CXL ALLSYMB; Route=Stop;     StopType=LIMIT;   Share=Pos;   StopPrice=Price;   TIF=DAY;   Price=StopPrice-0.05;    SELL=Send;

 

Now, I haven't tried this for MYSELF, just repeating what I've heard. At least person has mentioned that STOPs DO NOT work, regardless of if they are MARKET or LIMIT...just a limitation of pre/post. You would have to confirm with DAS or your brokerage though, because I can't say that with certainty; it's secondhand info.

[Alastair 114]

Have been trying to confirm a STOP LIMIT will work.  Have not had opp to test myself in live pre-market with a small position.

 Other issues arising during pre-market, but I created a STOP for both long/short and have been asking around for guidance.

Hopefully an expert in community will give some feedback.  Will eventually test once my other pre-market issues I have get sorted.

The above vid unfortunately does not explain how to use the order types for pre-market.  Maybe @KyleK29 could do a 3 min talk on pre-market orders next Monday.

[Bryan W 50]

I'd suggest just asking DAS support if STOP orders function or not in pre/post hours.

[Christopher 129]

On 3/8/2021 at 5:42 AM, JS said:

Hi all,

due to some circumstance changes, I might be only able to trade premarket moving forward, probably before 7:30am. Anyone has done it with success? What is your criteria for stock selection? I could not find much resource regarding the topic. I do know some limitations of premarket trading such as  less liquidity, bigger spread, cannot use stop order etc. but I would like to give it a try without giving up day trading all together. Thank you!

Well, if the stock is trading with minimal volume, you're going to get absolutely nowhere. Like you mentioned the spreads will be bad, on top of that say you do get a well timed decent spread entry, because of the lack of liquidity you can get huge price swings and HORRIBLE stop outs. Like easily losing -2R+ on 1 trade instead of the typical - 1R +- .2R. 

So, yeah I would just try and find something trading with volume. If it were me and I couldn't trade the open anymore, I'd just learn more about swing trading... 

Good luck!  

[faizul718 0]

Yes...STOPs do not work in pre/post market. I tried. I use Kyle's buy and sell hotkeys to trade in pre/post market.