Trading in the first 30 minutes

it wasn't until I held my first position overnight that I said, "Oh, so that's how they make money."

 

This guy has a solid method for scalping the YM open (if you're fast enough)- check out his videos:

https://www.youtube.com/user/jmaxchase/videos

I take some of the same trades he does, but he's definitely a lot quicker than I am.

 

Nice, thanks for the advice guys.

Yes, the more I think about it, spreads (forex included in this) seem to be the way to go. The reduced overnight margin rates are almost an edge in and of itself. When you can hold overnight / a few days / weeks for STIR products, suddenly R:R of 3:1 / 4:1 become possible.

The good news is that I've gone from being unconsciously incompetent of my poor performance in this period to consciously incompetent, so I guess that's something, haha.

 

Then who's fleecing the pikers? If the big funds aren't trading at that time?

 

It is no different to any other trading approach, if you don't know what you are doing then you are going to lose more (much more in this scenario) than you win.

If you do what most others do not, then you can attain around 80% chance of success over time.

Diversification can be utilized to manage/spread your risk.

Correct risk management can yield high performance.

High performance can result in substantial profits.

You do not have to know what others know to make money trading, in fact, you are probably 80% better off if you do not know!



J_S

 

I can assure you big funds etc DO trade in the first 30 minutes and the last 30 minutes. Personally I would say most of my money comes in these periods.

But not everybody is the same. Analysing your trades and figuring out what time periods you make your money and eliminating the losing periods is a very simple but effective way to increase your returns.

 

Thank you for your feedback. It is good to know that people are making money in these periods.

 

I had a chance to think about this this weekend and I wanted to share my thoughts. First off, there tends to be price movement at the open and there tends to be volume at the open. That means that there is going to be people who swing 500-2000 clips who don't use stops and who will get caught offside. I am going to try to look for people who traded 1000 cars at 90 and price traded down to 86 and is now back up to 89. They are looking to sell and I should be too.
I have no idea if this will be profitable, but there is only way to find out.

 

don't understand his video, e.g. when he will long/short, is he profit or loss and etc

 

Trading in the first 30 minutes is where I make majority of trades/profits.