Anyone have a mechanical way to call a trend day early in the day with any semblance of reliability (ie: > 50 %) Thanks!
I knew today would be a trend day because of the "minor change" in the McClellan Osc. on Thursday, combined with the fact that Friday was not a trend day. Read http://www.pitstock.com/mcclellan.html great info on highest probability of predicting a trend day It has helped me tremendously -Matt-
When the open is the extreme print and the market drives powerfully in one direction in the first 10 minutes or so.
If the prior day was a narrow range, inside day or a 5 tick doji.. you have a very favorable percentage change of some sort of followup trend day -- or at least, open and close at relative extremes.
Because it gives you an hedge and when you can have consistent edge the risk is more than proportionally lowered see money management rule.