creativeadvance asked 11 months ago Hi Pat. I have my first few small positions on following your methodology, and I'd like to know how to best protect myself from extreme overnight risk? I'm unable to have stop orders in during extended hours in ThinkorSwim (limit orders only), so should I have limit orders in? My concern is that there could be a strong reaction before the market opens due to CPI data tomorrow. Should I have good-till-closed limit orders in? Thanks for your help!
1 Answers
Owen Staff answered 11 months ago I trade on TOS as well; I use GTC stops during RTH. After hours, as you correctly stated, one cannot place stop orders. So in the morning, I will check in to see how the futures markets are shaping up around 8:30am ET. I like to stay abreast of economic reports that have the ability to shake markets; it's for that reason I include that information at the bottom of The Key List. Stay in the know, sounds like you are, and look over the markets in the morning; always good to see how things are shaping up about an hour before the open.
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Thanks, Owen! I’ll try that out!