Hi: I have heard that most of the money traders make is made in the morning. What strategies are used to trade in the morning? I find it VERY fast moving and often painfully choppy. Am I delusional or is there something I'm missing? All I know is I gotta pay rent, utilities and eat and I need some strategies for "before lunch" trading. Thanks, B
If you are worried about paying for your rent and food, it's too early for you to think about the "before lunch" trading, or any type of trading at all.
Opening range breakouts on index futures, also known as ORBs. They're absurdly easy to backtest and you can come up with a setup with positive expectency.
Basically what you should do is buy the Dow. Morning, midday, afternoon... it really doesn't matter because the damn thing only goes in one direction these days.
WHOOAAA!!!! People puh-leeze! Some of your responses were just a tad snide. I'm trading to make money. I'm trading to make a living! NOT as a hobby or pasttime. I was absolutely sincere in my request for strategies, guidance and tips. However, I'm shocked that people were taken aback at my comment about needing to pay rent, etc. I guess some people trade to watch blips on their computer screen, or some other such recreational excuse. I don't believe in recreational trading. I'm not a gambler. B
You look like yer new 'round these here parts, pardner. It's a rough crowd, I hope you have a thick hide.
Sorry but YOU are a GAMBLER.... only a fool would try to make a living off of something that they knew absolutely nothing about and had no proven, reliable track record. What in the world would make you think you could compete with some of the brightest and smartest people in the world without a clue? That's pure GAMBLING.
You are going to end up on welfare trading the families rent money away trying to beat the market. You sound like a newbie who is going to blow all capital and then learn a lesson the hard way.