{"id":11088,"date":"2011-04-25T15:48:26","date_gmt":"2011-04-25T19:48:26","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11088"},"modified":"2021-05-06T15:37:13","modified_gmt":"2021-05-06T19:37:13","slug":"traders-ask-what-is-your-deal-with-overnights","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/traders-ask-what-is-your-deal-with-overnights","title":{"rendered":"Traders Ask: What is your deal with overnights?"},"content":{"rendered":"

Hello Bella,<\/p>\n

My name is Jonathan, and I am a day trader and fan of your SMB Blog and Twitter feeds.
\nI have a trading question for you that I am confident you can help me with; you guys have some serious experience.<\/p>\n

I understand your style of trading sometimes involves holding day-trade-intended setup overnight.
\nI notice myself, several times, some of my day trade setups do not fulfill their destiny until the open of next day.<\/p>\n

Even if this is the case, do you find it worthy\u00a0to hold your trades overnight at the expense of your 4:1 buying power halved and risk of overnight-volatility? I imagine a major component is the probabilty of the trade hitting price target the following day (whether on a gap or volatile open).<\/p>\n

I am trying to discover what is more feasible: B.P.\u00a0resource and risk limitation versus giving a trade overnight-time to possibly complete profit target.<\/p>\n

I appreciate your insight and time, Bella. I know you are busy!<\/p>\n

BELLA<\/strong><\/p>\n

We used to take stuff out when I first started trading. \u00a0Stocks that printed into the close (finished at the highs) would open up quite often and we didn’t want to miss the gap up. \u00a0We also traded exclusively on the long side.<\/p>\n

I am not sure why but after the bubble bursted we stopped seeing\u00a0discernible\u00a0patterns that led to gap ups. \u00a0And in today’s market I am just not\u00a0familiar\u00a0with too many reliable patterns for gap ups based on a previous day’s intraday volume. \u00a0There are some three day trades that work well for Stocks In Play. \u00a0But my sense is that is not what you were talking about.<\/p>\n

For me the issue is the risk of missing a big gap up. \u00a0Stocks that explode intraday, up way more than expected, and in an uptrend for almost all of the day, that sell off too quickly and steeply into the close are candidates for a gap up. \u00a0I might take something out like that. \u00a0If something cannot get above a particular level and then finally does and hovers just above that level then I might take that out. \u00a0Again I do not want to miss the huge gap up. \u00a0If a stock is a slow gainer intraday and cleared an important level I might want to hold some of that overnight.<\/p>\n

But overall we do not hold stocks overnight like we did when I first started trading. \u00a0Stocks that print into the close too often open off on the open and might even trade weakly the next day. \u00a0I am not sure why this is. \u00a0But the patterns that used to work\u00a0dissipated\u00a0and we needed to adapt.<\/p>\n

We do not have the same issues with BP that you might have. \u00a0An advantage of trading with a prop desk is that BP is easier to get than a retail account.<\/p>\n

I hope that helps. \u00a0Keep working on your trading game!<\/p>\n

Mike Bellafiore<\/p>\n

Author, One Good Trade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hello Bella, My name is Jonathan, and I am a day trader and fan of your SMB Blog and Twitter feeds. I have a trading question for you that I am confident you can help me with; you guys have some serious experience. I understand your style of trading sometimes involves holding day-trade-intended setup overnight. I notice myself, several times, … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,908],"tags":[1747,81,1193,653,1354,1349],"class_list":["post-11088","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","category-traders-ask","tag-overnights","tag-smb-training","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"\nTraders Ask: What is your deal with overnights? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/traders-ask-what-is-your-deal-with-overnights\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Ask: What is your deal with overnights? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Hello Bella, My name is Jonathan, and I am a day trader and fan of your SMB Blog and Twitter feeds. 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