It sounds like many of us only trade in the mornings so it's good to know I'm not the only one. Does anyone here feel quilty only working a couple of hours a day? Do most of the morning only traders work other jobs or just enjoy the rest of the day?
Any morning only traders here?
- Thread starter listedguru
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I don't really ignore the PM moves.
I hit my target in the morning - and come back in a few hours and see where things are. I may put a trade on or maybe 2 but the bulk of my trades are in the AM.
There is something very satisfying about walking away from the market where you want to be with your P&L.
I hit my target in the morning - and come back in a few hours and see where things are. I may put a trade on or maybe 2 but the bulk of my trades are in the AM.
There is something very satisfying about walking away from the market where you want to be with your P&L.
Quote from sweetlettuce:
One of my methods is entering after the 4:00 PM close of the index futures and holding overnight until the open. I know it is nuts to some....but does anybody else trade this way
I tried to trade this way for a while, but could not find a consistently profitable method. I was usually trying to fade the previous day's move, with a small bias to the the long side, trying to pick 3-4 points of the ES.
I guess I am trying to say that I don't feel OBLIGATED to trade just because it is the PM.
I nearly had a nervous breakdown feeling that I had to be in front of the screens just to be on the next move. We all know what it is like - It is a "Prop Shop" mentality! I didn't enjoy trading like that - and my p&l suffered - big time!
It is funny because putting myself under less pressure - for whatever reason, Numbers, am trading, pm trading etc... I have found that I am more profitable. If I miss unemployment, oh well, I will live as will my account! If I am sitting on the beach reading in the PM, or having a late lunch with friends - better giving money up for a $20 lunch rather than a $2000 loss on a move!
Good luck all - AM & PM traders!
I nearly had a nervous breakdown feeling that I had to be in front of the screens just to be on the next move. We all know what it is like - It is a "Prop Shop" mentality! I didn't enjoy trading like that - and my p&l suffered - big time!
It is funny because putting myself under less pressure - for whatever reason, Numbers, am trading, pm trading etc... I have found that I am more profitable. If I miss unemployment, oh well, I will live as will my account! If I am sitting on the beach reading in the PM, or having a late lunch with friends - better giving money up for a $20 lunch rather than a $2000 loss on a move!
Good luck all - AM & PM traders!
i'm old and slow and always avoid the open and first half hour
not saying its the best way, just the only way i know
i do better with slow movers and taking bigger bites with limit entry / exits
for those fast movers at the open, I can only see me using market orders
that's the only way i could keep up
do any of you first 15 minute traders use market orders for entry / exit
thanks for the advice
not saying its the best way, just the only way i know
i do better with slow movers and taking bigger bites with limit entry / exits
for those fast movers at the open, I can only see me using market orders
that's the only way i could keep up
do any of you first 15 minute traders use market orders for entry / exit
thanks for the advice
Yes Birdman,
I am older and slower too. I like to wait until the market settles down for about 1/2 hour then enter with a limit order. But for exits to protect the profit or to execute stops, I have my finger on the trigger to get out with a market order. In fact before I enter I already have an order ticket made out for market exit.
Some of this stuff moves so fast that I can't adjust the limit orders to keep up. So exits with market orders work better for me.
I am older and slower too. I like to wait until the market settles down for about 1/2 hour then enter with a limit order. But for exits to protect the profit or to execute stops, I have my finger on the trigger to get out with a market order. In fact before I enter I already have an order ticket made out for market exit.
Some of this stuff moves so fast that I can't adjust the limit orders to keep up. So exits with market orders work better for me.
As a pattern trader, i used to trade only the first couple of hours. I personally thought in the back of my mind that my setups must not be as good as i think they are if they work so great in the morning and only churn in the afternoon.
I recently did some work to my entries and now i trade all day long and my setups have the same percentage of winners and losers if it is the open, mid day, or the close.
Now my method is the opposite of what it used to be, not many entries at the open and it seems to get more active as the day progresses.
Pierson
I recently did some work to my entries and now i trade all day long and my setups have the same percentage of winners and losers if it is the open, mid day, or the close.
Now my method is the opposite of what it used to be, not many entries at the open and it seems to get more active as the day progresses.
Pierson