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Sorry - it was just an expression I used.
I trade very volatile options that gap a lot on opening - I buy on the
close when I get the right setup and then sell on the open and make my
profit on the overnight gap movement.
Because of the stock volatility and large gaps - overnight returns of say
5-%-70% are pretty well the norm.
They can just as easily gap down the next day - hence the very short term
trade.
It's not the sort of trade that appeals to most people - but I have a
handle on it but only want to trade one such trade in each cycle - hence
the need to eliminate additional buy signals.
Arthur
>Hi Arthur,
>
>what are 'overnight' options?
>
>thanks
>
>-john
>----- Original Message -----
>From: "Arthur Sawilejskij" <arthur@xxxxxxxxxxxxxxx>
>To: <amibroker@xxxxxxxxxxxxxxx>
>Sent: Wednesday, March 03, 2004 11:00 PM
>Subject: [amibroker] ignore extra buy signals
>
>
>
>I have a script that checks for certain conditions for a buy and then sells
>next day on close - I trade overnight options.
>
>For example........
>
>sttlong = StochK(5) > StochD(5);
>ccilong = cross(cci(13), -100);
>buy = sttlong and ccilong;
>sell = c;
>
>I sell the next day - but the buy condition still applies subsequent days -
>but I don't want to do another trade till I get a new buy signal - not a
>succession of buy/sell signals till the next crossovers and buy signal.
>
>I need some way to only give me one buy/sell signal - any suggestions
>would be appreciated.
>
>Arthur
>
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