Buying the open can be a tough business

Discussion in 'Trading' started by Innervoice, Oct 3, 2022.

  1. Innervoice

    Innervoice

    Buying opens / gap ups at the open is tough.
    Always best to wait for a nice pattern to arise first.
    A gap up and then a nice retracement is good as long as you see a strong upward bias.
    Lately I have been doing well by waiting a few hours for set ups. Sure I missed some but it’s much safer and you do less churning.
    Example, TDOC at 25.33 with a stop is a low risk trade. Is it a guarantee? Of course not but it’s low risk with a stop loss and any loss would be small.
     
    Last edited: Oct 3, 2022
  2. You Sound like an idiot. You should probably get a real job before you blow it All
     
  3. Innervoice

    Innervoice

    I do, I trade on the side. I think my advice is good.
     
  4. mikeriley

    mikeriley

    It's been in a downtrend since early August.
    It might be low risk depending on present volatility
    and where you plan to place your stop.
     
  5. Innervoice

    Innervoice

    It could hit 26 by the close.
     
  6. mikeriley

    mikeriley

    Maybe
    This is one of the only stocks I made money with shorts.
    Been at the bottom ever since. In it's heyday it was running
    $250 to $270 daily.
     
  7. Innervoice

    Innervoice

    Its low risk for a daytrade here. We could see 26 area by the end of the day.
     
  8. tomkat22

    tomkat22

    You went looking for gap-ups and TDOC was the best you could find? What about LVWR,MYOV,FNGR,VSAT ?
     
  9. I know someone who said they never trade the initial 30 minutes. For me, it depends on the set-up or where the market opens. Often, there's a lot of orders coming in on the Open which ain't necessarily going to give you direction.

    If you waited 30 minutes today it would have probably done you a world of good. I'm sure many were chopped up before the market marked out a direction.
     

  10. LOL. I love what a happy, friendly place this joint is!!!
     
    #10     Oct 3, 2022
    VicBee and Laissez Faire like this.