Buy the Open, Sell the Close vs trailing stops for stock daytrading

I'm working on a strategy for daytrading stocks. Would appreciate any thoughts, it maybe useful for everyone.

The problem: navigating little cups and breakouts with stocks can be hard, esp to get more than .7 out of a single trade, with traditional daytrading.

Idea: buy a breakout occurring 9:30-10am. Place hard stop .50 or so under your entry. Then let it go, don't touch it, til 3:30, at which time you can sell into the close, for trades that aren't stopped out.

The big advantage is, if it closes strong you get a much bigger profit since you wouldn't have closed it during a midday pullback or chop.

Any thoughts? Thx guys. I'll post charts plus live trade examples

 

I am sorry. I do not want to provoke anything. But surely you must realize that this strategy if applied across the board has been tested and tried by thousands of traders and computers and trading firms and academics through time and if it yielded a consistent profit would be arbitraged away. And yes I have tried something similar and hundreds of other unsuccessful strategies I am inclined to say decades ago even though that is not entirely correct. But no, the world of trading is not that good. And do not bite or get angry. I am doing you a favour.

 

thx, good to hear

 

If you have a more complex strategy to pinpoint specific stocks and this is just how you implement it, then I cannot say whether it works. Maybe it does work. I am just addressing the simple strategy of focusing on breakouts where the sole criteria for selecting stocks is breakout. So I am sorry if you meant something different. And thanks for not backlashing.

 

What yield would it have produced over the past dozen days?
Look promising?

 

This can work, depending on the instrument, and what is happening on the daily time frame prior to the morning entry.