Check out how to do extended hours trading, on my platform I can do it via ECN's (ARCA, BRUT, INET, next to the AUTO button on the order entry window). Get a level 2 for AAPL/QQQQ, and watch the premarket action (if you can, or if not today next Thursday) Also see if you can choose extended hours on your chart (right click on your chart and see if you get a list of features and setup menus), so you can see the premarket price action, volume, and price, and patterns, support, and resistance, can help when trading when the market opens. You can then deselect that feature as the day progresses, because that premarket price action influences the moving averages.
Futures are down heading into the nonfarm payroll report out at 8:30. Though buying/shorting at the close can yield undesirable results the day before an important economic report is released, premarket trading can be advantgeous in stocks like QQQQ/AAPL which are pretty liquid in extended hours trading.
Since the Market has pulled back significantly, and has been basing at the lows for the last 2 days, and EVERYONE is expecting the nonfarm payroll report to be bad since the employment index report earlier this week was bad which fueled the tubage, if it is good, which would be UNEXPECTED, market could ramp like a bandit, and you could get in PM, an whole hour before the open, but after the report. Now, that's an usable edge.
If report is as bad as everyone is expecting, then since the rumor was sold, the news could be bought. Could gapped down perhaps, but it could still be a buy, a reversal. Got to watch the tape though.
And if you have a printer, please print this off also, stick all this stuff in a file folder. You can't possibily understand/remember all this stuff.
AAPL is hanging tough through all the selling, so it is possible that it could break out upwards (and not downwards as I recently thought about the possible move from this daily congestion) strongly from that congestion (could be a descending pennant which is bullish), breakout would be just above yesterday's highs. AAPL and QQQQ are up 15 minutes before the report.
I don't think I have access to extended hours. I see the pull down option but it is greyed out and says "regular" right now. PErhaps it comes with the level II set-up.
So I hear you say you have one screen set up to stalk a particular stock with all the order entry option there. And another screen set up to hunt for the candidate. That is a good idea. I had the order entry set but didn't have the "attack" chart on it.
All that info is very helpful as I sit and digest it with the Mrs. I really appreciate the help. I completely understand the IM situation and don't in any way want to distract you from your trading. I never expected you to take me into the nest and raise me as your own. But I have received a huge amount of learning over the past few months.
When you said you were going back to your bread and butter trading I didn't realize we had pulled you away from your trading style. I was trying to learn and understand your methods, not pull you toward ours. Stick to what works consistently, that is what I was trying to pick up.