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TradeStation recently increased its window for extended-hours trading. This article will consider some of the tools that might help in the pre- and post-market.
The first application is Chart Analysis, which typically shows only regular stock-market hours of 9:30 a.m. ET through 4 p.m. ET.
Users can see activity outside regular hours by selecting an intraday Timeframe like 15- or 30-Minute. Click Timeframe a second time and go to Sessions → US Stock with Pre & Post Market. This will plot extended-hours prices with shaded candles.
Another useful function can be plotting bid and ask prices on the chart. Traders can click on the Studies menu → Add Study… A dialog box will appear. Ensuring “Indicator” is selected in the left tab, users can scroll down to three studies: “Line at Ask,” “Line at Bid” and “Line at Price.” Adding these to the chart show where a stock or ETF is trading in extended hours. This can potentially help spot support and resistance relative to recent highs and lows.
Nvidia (NVDA), intraday chart (30-minute) with extended hours enabled.
Next, the two main applications that can help traders buy and sell stocks in extended hours are Matrix and Trade Bar.
Matrix is an advanced tool that maps activity in the market in a left pane that scrolls vertically as prices move up and down. Bid and ask prices are in separate columns.
Matrix showing extended hours activity on Nvidia (NVDA).
Traders should first set Duration to “Day+” for extended-hours trading. They can then select “Limit” as the order type because that’s the only kind of order that can be used in extended hours. The number of shares can be entered in the Quantity box.
Hovering over the Bid Size column will prepare limit orders to buy at price. Clicking will then create the order ticker. Selling works the same way, starting from the Ask Size column
Trade Bar showing extended hours activity on Nvidia (NVDA).
Order Bar is the second tool. It’s launched by clicking on “Trade” at the top of workspace. Users also need to set Duration to “Day+” and be sure Order Type is set to “Limit.” Size can be set with the “Quantity” field. Clicking the Buy or Sell button to begin the trade.
In conclusion, extended-hours trading can a powerful technique for active traders. Hopefully this article helps you get understand the process with TradeStation’s platform.
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