opening hour

Discussion in 'Strategy Development' started by outsource, Sep 3, 2010.

  1. I become to conclusion that all big money makers, excuse me, not all but many big times trade only in the first opening hour and keep the rest of dilly-dally to the public:) While everybody waiting for the opening hour range to establish, they just fill that range and get out.
    Any thoughts?
  2. because at that time, the market have more changes so they want to have their chance in trading
  3. You mean more 'chances'? I agree. And that chances are big ones.
  4. "big money makers, many big times trade"
    Trading big positions (100, 1000 or 20,000 contracts) is all about an average entry or exit price within the price range. Daytrading a one lot is all about where in the price range I enter and exit.
  5. Ok, and where do you enter and exit, if you trade 1 lot?
  6. Personally? I look to enter long when the probability of my stop being triggered is very low (support) and the probability of my target being filled is very high (resistance). If you're searching for ideas to devise a system or method for trading a small account (1 lot) there are several threads in the journal section here on ET that are very informative. This one just started a few weeks ago and tlow has posted his charts along with detailed explanations of all his trades. Even though it's a short thread, a noticeable improvement to his method (P/A trading) is obvious. Another great thread albeit somewhat longer is Matcha's E-Mini Dow Journal, Cookbook, Travel Guide and Romance Novelette. Matcha's style, (T/A trading) dedication, discipline and commitment to learn is enhanced by the guidance and commentary of seasoned active traders. Both of these traders exhibit an extraordinary desire to succeed and I believe anyone would benefit from their experiences.