Straight from my autobiography The Story of My Life, or How I became a Little Bitch Scalper and Learned to Love the Bomb
We've seen the first day drop the past 3 months. It's all fake and this market is going back to ATHs. There is nothing that can stop this forever, endless bull market. Likely the low of the month was just seen.
When I wrote that I was going to add that if you had a hunch it would go down out of the gate, there's nothing wrong with that if you want to take the risk, with the one caveat (imo) being to grab your profit in the first few minutes, even if it goes further after you close. I think I would say that my percentages of wins vs losses in an opening bell scenario on a day we expect decent volatility, lean heavily towards the times I took the quick win, vs riding it out for awhile. Base hits add up, and I think with ever increasing volume of zdte option traders, even the correct "bigger picture" directional call will stop out, or if you don't use a stop, you'll go red, and that's when it gets tricky because human nature wants you to believe you were right. But if you were wrong, it only gets uglier. I'm sure we've all been there, I know I have. 3 little base hits dollar wise is just as good as one triple, and it seems going for those triples, you strike out a lot more than grabbing the base hits. At least in my experience.