Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Any you guy's try something like this? If so, any luck, or thoughts?
Basically, when the market opens (normal trading hours), you go long or short as soon as it moves 10 ticks in one direction or the other. Here's some examples from July 6,7 and 8th.
Can you help answer these questions from other members on NexusFi?
I don't know, I've seen many opening directions go one way on the open and the market reverses the other way. Did you backtest this strategy at all?
I've been looking at a few market open/1st hour trading strategies and systems out there, anybody else have an opinion on any of these or good strategies for market opens? Being on the West Coast, I like the thought of dong my day's trading between 6:30 and 7:30 am and being done for the rest of the day (or at least not being tied to my trading workstation all day)
Nah...I'm just starting out, and don't really have that much data yet. I ran NinjaT this morning and took a few sim trades, tho. I took the 10 tick open range play and a couple of momentum support trades that I talked about on my [AUTOLINK]Scalp[/AUTOLINK] trades on [AUTOLINK]Momentum[/AUTOLINK] thread. Made a $148.28 of sim money! lol
i might use the opening range as a filter. only go long above it and only go short below it. mark fisher's method is very similar to what you do with the opening range, but he uses time and does some other things a little differently.
I have not tried your thought, but one of my hard fast rules is: If it can't take out the Premarket high or low it will reverse and go the other way. This is usually good for a few points right off the bat.
lol
