Do you trade the first ten minutes?

[NoDoji]

Quote from Bolimomo:

Don't cheat yourself. It is like betting on the horses after knowing which one has already won.

If you want to practice, practice in real-time. Write down your bet, entry and exit as if you would trade. Then review the result and learn from your own moves.

Quote from Bolimomo:

Depends on what you trade. Different stocks behave differently at the opening minutes. I trade only 5 stocks day-in and day-out. GS, SKF, SPY, AAPL, RIMM. I have learned their behaviors at the opening. They almost gap in every opening. Sometimes small, sometimes big. From my experience, gaps are to be faded. Works about 70-80% of the time. The other 10-20%, they just gap-and-go (usually on a Monday, or usually when they break above resistance with the gap or break below support.) And another 10% of the time, maybe, they gap-and-flat - not moving at all. If you find yourself wrong fading the gap and there is no reversal, just close out and flip your position to go with the gap.

Great post, Bolimomo. I always "paper trade" literally on paper in real time. Looking back at charts to determine what you "would've" done leaves out a lot of the price action that occurs within a time bar - the false signals that might've sucked you into a trade, but you don't see that on the footprint left behind.

Thanks for the tips on trading the opening. Unless I'm holding an overnight for the express purpose of grabbing profits on the opening volatility, I rarely trade the first 15-20 minutes. But this strategy sounds solid and I plan to check it out.

 

[Redneck]

Quote from NoDoji:

Great post, Bolimomo. I always "paper trade" literally on paper in real time. Looking back at charts to determine what you "would've" done leaves out a lot of the price action that occurs within a time bar - the false signals that might've sucked you into a trade, but you don't see that on the footprint left behind.

Thanks for the tips on trading the opening. Unless I'm holding an overnight for the express purpose of grabbing profits on the opening volatility, I rarely trade the first 15-20 minutes. But this strategy sounds solid and I plan to check it out.

ND,

It is a good strategy (Bolimomo is giving away secrets)...

But he is also showing the power of observation and keeping copious notes on what one sees, then using that information for an advantage

Take Care Ma'am
RN