I'm considering just trading the mornings. Curious what % of your day trading income is made in the first 2 hours of the day on avg? Trading the am and going to a 9-5 on the west coast seems like a good way to go. Thanks for any input.
well,thats when most of the moves are made. then again you get that up or down spike at 3 as well. i prefer the morning and taking the quick money and walking away.
i just looked at my summary report that shows profitability for time of day when i enter the trade and i saw i made a little over 80% of my money from premarket, the 1st 90 minutes, the final hour, and after hours. out of those 4 by far the most profitable time is the first 90 minutes where i make almost 45% of my money.
Try something REAL simple. Just trade the breakout of the first 3 min or 5 min bar. Put your stop at the other end of the range and see how far u can ride it. Take a look at aapl or rimm for the last few weeks. Try and make double the range of the first 3 min bar...sometimes it will go ten xs the first three minute bars range. Once you are long/short just watch the tape. Make it your baby and I bet you can get really good at it. jim ps... I like to move the stop up rather quick once you are in the green a little.
True but they are nauseating.. I see the first 90 mins as the most reliable... yet I lose money... mostly because I don't WALK AWAY.
I would say start early and try to follow the pattern. Its not saying the dog wont bite you. Just make sure you let him do his dog poop before he does.