HERE is how to make money consistently trading the open

[zdreg]

One of the most overlooked methods to making money consistently is the opening trade. At the open:

1. Volatility creates opportunity in the form of price movement
2. A daily high or low is generally created within the first half hour near the open price

So, all a trader has to do is catch 75% of the ADR. The most important part is where you place your stop loss. For the answer, simply look up the definition of low-risk. Statistically speaking, I guarantee you will make money.

QS

you have made an auspicious start. thanks for mentioning.

 

[Turveyd]

New a guy who mentored and sold a method trading opens, putting order to go long above and short below, he always got out best price despite huge swings lol fake obviously.

Issues are, knowing when to take a loss and take profit, too soon on profit and wont cover your losses, too late and you'll ride it down.

We got him to live trade and prove it, he picked a day where there was big later news so market didnt move and he closed up 5mins before lol

 

[stevegee58]

Here's the holy grail you've been looking for:
Day Trading With Short Term Price Patterns and Opening Range Breakout by Toby Crabel

 

[EsKiller]

trading the open at least in my experience has been one of the harder things to do, especially consistently.

Just yesterday I was bullish out of the gate, but if you look at the tape, it really came inches shy of making new lows before popping higher(albeit YM did make a new low)

Its hard for you to do b/c you were going against the trend on the 1 and 5 min, and hourly charts. You can't just randomly buy a falling knife and expect to have consistent profits. YOu need to wait for some type of confirmation for counter trend trades.

 

[recession2016]

sounds terrible

you should do that on your live account for a week and post results

 

[Quantfisher]

I prefer The Opening Price Principle by Larry Pesavento. There is no need for intraday price bars.

 

[recession2016]

I prefer The Opening Price Principle by Larry Pesavento. There is no need for intraday price bars.

post your results of doing this trading style before making these unsubstantiated claims

 

[Quantfisher]

If you want to increase your win rate, naturally your average profit will decrease. Pick a direction at the open, long or short. If price moves in your favor, use any price turns to take the other side of your trade. This works best with two broker accounts. Your low-risk stop loss levels will never change.

EDIT: It should read if you want to DECREASE YOUR AVERAGE LOSS which will decrease your win rate but also increase your average profit. For example, if you sell 5% of
above the open as a percentage of ADR your PT becomes 80%.

 

[recession2016]

If you want to increase your win rate, naturally your average profit will decrease. Pick a direction at the open, long or short. If price moves in your favor, use any price turns to take the other side of your trade. This works best with two broker accounts. Your low-risk stop loss levels will never change.

post your account with the results

 

[motif]

One of the most overlooked methods to making money consistently is the opening trade. At the open:

1. Volatility creates opportunity in the form of price movement
2. A daily high or low is generally created within the first half hour near the open price

So, all a trader has to do is catch 75% of the ADR. The most important part is where you place your stop loss. For the answer, simply look up the definition of low-risk. Statistically speaking, I guarantee you will make money.

QS

Toby Crabel wrote about this in his highly treasured book
"Day Trading With Short Term Price Patterns and Opening Range Breakout."