Hi Gordon, Yes, the Opening Range is usually determined (at least how I was taught by a Pro) by the first 20 to 40 mins of regular session. You'll notice that the market traded inside this same range, without breaking up or down, for quite a while after that time frame. In other words, it took a real long time to break out of the initial range established by the open - about 2 extra hours. I have included a chart for you 'cause you are a good guy. Paul
I just wanted to thank all of those who responded to my thread and provided honest feedback, most recently, shaq48 Ron In-a-sauna Db macal425 slapshot musicman Ice Dantheman Quiet1 Ice, I really enjoyed your very comprehensive post. Thanks for taking the time to type that all out Here's to getting into the 'surgical' zone!!! Cheers.
with a chart like that, its a wonder that you didn't loose more money. there are a number of classes that review the DMI, but one thing that I heard was consistent about DMI is that it is not a singular index to use for trading, and especially for day trading. could you vary your software and indices to tune it for real time trading? or, perhaps, could you use a swing trading "fundamental" approach and "fortitude" to hold a position longer and not be "tricked" into covering when you really meant to hold longer.
the way you know that ORB's work is whether you make money or not. ORB's work for floor traders who have virtually nil costs. ORB's work less accurately the further you are away from that local marketplace. Its almost like the paradox of seeing the forest floor and then stepping back 3 miles and seeing the entire forest, with no choice of a breakpoint inbetween. ORB's and other similar concepts are reference indicators of a continuation or breakout. If there's a constantant mashing around all day inbetween the ORB high and OIRB low, then we would normally characterize that day as a worthless trading day. perspective is the key to that indicator
Perhaps the market is We. Perhaps the market is Us. Perhaps the market is our epherial self. Perhaps its just the fact that by the time all trades are posted based on a triggering event, it actually launches its own event, and secondary wave and terciary waves, and counter waves to those waves. Perhaps that perpetual motion is what "dynamic market theory" really is in fact. Perhaps....
-------------------------------------------------------------------------------- Honestly, I am not trying to be a scalper. I'm trying to go for the larger intra-day swings, but I have a bad habit of exiting too soon. Sorry, you lost me there. No, I was using QuoteTracker. The annotations were done using Adobe Photoshop. _______________________________ Since we are waxing philosophical, I'll close with a profound philosophical quote: "So try not to see something in particular; try not to achieve anything special. You already have everything in your own pure quality. If you understand this ultimate fact, there is no fear. There may be some difficulty, of course, but there is no fear. If people have difficulty without being aware of the difficulty, that is true difficulty. They may appear very confident, they may think they are making a big effort in the right direction, but without knowing it, what they do comes out of fear. Something may vanish for them. But if your effort is in the right direction, then there is no fear of losing anything. Even if it is in the wrong direction, if you are aware of that, you will not be deluded. There is nothing to lose. There is only the constant pure quality of the right practice." - Shunryu Suzuki