First question should be: what is the daily volume? If volume is very high, it will be still much higher anytime during the day then a low volume stock at the opening or close. Second : you should watch volume and compare it to what you need to fill your position. If you want to buy 100 shares microsoft, apple or google you don't have to worry about volume. If you want to buy 100 000... it is another story.
The time of day in which a trader enters into a position can surely affect the outcome of the trade. Inexperienced traders or those who want to steer clear of the price volatility of trading early or late in the day should consider placing their trades in the middle of the trading day.
Pull up your charts, looks at your historical charts and you'll be able to easily answer that question yourself via your trade signal strategy. Simply, only your trade strategy can answer that question for you. Therefore, backtest your trade strategy to determine when (time of day) it tends performs the best and when it tends to perform the worst...assuming you're trading the same trading instrument. Yet, if you're trading something different almost every day such as stocks...the answer is still strategy specific because some trade strategies perform best in normal/increasing volatility while other strategies perform better in low/declining volatility. Thus, if your strategy performs the best when there's normal/increasing volatility...obviously that's when you want to be trading. In contrast, if your strategy doesn't perform too well in volatility market conditions...you obviously want to trade in low/declining volatility. If you don't understand volatility...start with volume although eventually you'll need to learn about volatility especially if your trading something that lacks volume information (e.g. Forex).
Depends on What and How you trade. -- Nothing is really...black or white...in this trading world Stick around, all the answers will naturally come to you in various forms and ways. in due time.
No, when you don't know what you do it is not good,when you lose money it's bad, and when you don't know why you lose money it is worst.