I've never seen it mentioned anywhere but its a fact that almost 100 % of the time the high of the day exceeds the opening price.There ought to be some way of cashing in on this. When you figure it out, remember who turned you on.
Nicodemus, While it is statistically true that the high of the day is often above the opening, it is very difficult to profit from such knowledge. One main reason is that you only know what the high of the day is after the fact. Such retroactive indicators are useless for trading. You would basically have to buy right at the open and hold on, but when would you sell? Also any small profit that might be gained would be entirely wiped out by those days in which the open turns out to be the high of the day, and you end up holding a loser that is down many points.
It can also be said that 100% of the time the high of the day will never be below the opening price. Of course, the low of the day is never above the opening, either. Remember, you heard it hear, first! Fletch
************************************************* Hmmm.... I've never seen it mentioned anywhere but its a fact that almost 100 % of the time the high of the day exceeds the opening price.There ought to be some way of cashing in on this. When you figure it out, remember who turned you on. ************************************************* Nico, Stand back for a moment and think logically please. If High does not Equal Open, then OBVIOUSLY the high will be be greater than the open. Got it? And High is not equal to Open nearly 100% of the time. To take it one step further, the price at any time of the day that you choose is not equal to the High, nearly 100% of the time. Also the low of the day is below any price at any given time of the day, nearly 100% of the time. So if you buy at a price X any time of the day (including at the open), the low of the day will be below X nearly 100% of the time AND the high of the day will be above X nearly 100% of the time. So your comments are pretty meaningless, to be brutally honest with you. You ain't gonna find a Holy Grail "buy at the open strategy" here, dude. Sorry to rip up your hopes of being onto a new trading strategy!
Thank you Htrader for the serious reply. I will pay attention to your posts from now on. Just trying to feel things out here.