strategies based on the opening price

Discussion in 'Trading' started by traderix, May 19, 2006.

  1. traderix


    I have been reading most of LARRY WILLIAMS.

    Many of his patterns and strategies are based on the OPEN price.
    My question: does it still work, as more and more traders trade electronic Globex or electronic Eurex 24/24 hours?

    Is anybody here trading Larry Williams and have adapted it to new times??

  2. moo


    Well, have you backtested his strategies? Or just tried them out with real money?
  3. traderix


    trying them out (paper trading ) before I try with real money
  4. Disregarding previous price action is always fatal . You must look on the whole picture and WAIT patiently for the best TIME to enter.
  5. Cheese


    Quoted prices outside formal market hours lack volume and big players. You can dick around trading smaller volume outside formal market sessions (eg YM).

    But volume on average is going to keep on increasing within market hours; that is the future.
  6. Choad


    He's got some new books out. Don't know if I want to read them, tho:

    How I Owed One Million Dollars in Taxes Last Year

    The Definitive Guide to Income Hiding

    Sure Thing Tax Shelters

    Long-Term Secrets to Short Prison Terms

    How to Prosper in No-Extradition Countries

    The Right Lawyer at the Right Time
  7. Cheese


    This part of your question simply relates to the fact that amateur players gain the greatest knowledge and comfort about the market, even if only to a rudimentary level, by mainly starting at the Open and using the opening 1.1/2 to 2 hours of trading (eg YM). It also equates to their strongest sustained period of focus.

    However in reality the whole trading day session is a continuous cornucopia.
  8. ===================

    True, Larry found a good place to start, open price;
    write it down also, that is open prive, GLOBEX,
    Eurex-US,NYSE,NasdaQQQ.[8;30 am,chicago time]

    Looked on ''midnight rally'',ES,YM ,but haven't traded it yet.

    So yes use open price, but like Big trends/Price Headly writes &;
    battle is won at the end of the day. CAN SLIM uses end of day barcharts,prefer end of day candlecharts.

    Wisdom is profitable to direct;
    uptrend or bull/toro trend write open & end of day price,
    downtrend or polar bear trend, write open price & end of day price.

    As far as a quality ,private market like spanish olive oil, usually wait for them to sell strong , then enter;
    however on oil /gas stocks may buy on a strong trend gap up.

    However,On open price mark ups in oil/gas stocks in OCT 2005,
    FEB 2006, sell on open price mark up area.
    50 day moving average helps polar bears, in those cases
    [Again 8;30 chicago time]
  9. crystalballs

    crystalballs Guest

    Traderix,....what are you looking for? I'm sure you will not find it, whatever it is. What you are after does not exist. At a guess, i would say you have not got a clue and you don't have enough money. I know i am right, do you want to know how i know i am right? You told me with this thread. Do i have an answer for you? Not on here, kid. How can words teach you what you need to know? You will stick it out for the duration or you will not. Good luck.
  10. Care to expand on that?
    #10     May 27, 2006