Also, try this exercise. See if you can hold winning trades on average twice as long as losing trades. Automation and any kind of analysis is a little next level for most of us, isn't it? 
HERE is how to make money consistently trading the open
- Thread starter Quantfisher
- Start date
Try this:
Flip a coin. If it's heads, enter a buy order. If it's tails, enter a sell order.
Place a stop-loss equal to 1X, and profit target equal to 2X, the previous bar's range.
After 5 minutes, if the trade is in the green hold for 5 more minutes and sell at the 10 minute mark, or at any time the profit target is hit. If it's in the red after 5 minutes, sell immediately or when the stop-loss is hit. If a trade that is green after 5 minutes reverses to the entry point, sell at break-even.
It would be cool to see some verifiable third party results posted.
Any takers?
Flip a coin. If it's heads, enter a buy order. If it's tails, enter a sell order.
Place a stop-loss equal to 1X, and profit target equal to 2X, the previous bar's range.
After 5 minutes, if the trade is in the green hold for 5 more minutes and sell at the 10 minute mark, or at any time the profit target is hit. If it's in the red after 5 minutes, sell immediately or when the stop-loss is hit. If a trade that is green after 5 minutes reverses to the entry point, sell at break-even.
It would be cool to see some verifiable third party results posted.
Any takers?
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Good for you. -- Make your millions then doing that, and when That time comes...report back here
to show-off and gloat about accomplishing the impossible,These kind of stories, or posts, are a dime-a-dozen on trading forums. Very little diamond, and a whole bunch of ore or rough.
The only thing 'elite' about this place is the title.
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Good for you. -- Make your millions then doing that, and when That time comes...report back here
These kind of stories, or posts, are a dime-a-dozen on trading forums. Very little diamond, and a whole bunch of ore or rough.
The only thing 'elite' about this place is the title.
With all do respect, Lex, I disagree. The points he is making are valid. Trade when price is moving, and use time, to your advantage. READING PRICE IS ALL TOGETHER USELESS.
I have made millions trading predominantly the first 90 minutes using a similar method to the random coin flip. Don't believe me? Post the results of the aforementioned experiment yourself.
I'm too old now and lack programming skills to keep up with today's kids. 
Uhhh, you shouldn't be breathing, let alone trading if your brain is this handicapped.
This thread is gold!
With all do respect, Lex, I disagree. The points he is making are valid. Trade when price is moving, and use time, to your advantage. READING PRICE IS ALL TOGETHER USELESS.
I have made millions trading predominantly the first 90 minutes using a similar method to the random coin flip. Don't believe me? Post the results of the aforementioned experiment yourself.
No I don't believe you, as I have looked into the method you quoted and it is apparent that you are talking pure fantasy.
With 175 days of DAX 1min data, using the rule you specified in the first 90 minutes, and with the additional proviso of an interval of 2 minutes between trades results in 1400 trades with steady losses.
Beauty of open is that HFTs do not like price discovery... There is a thread on opening orders only (OPG) that was created by Don Bright.
https://www.elitetrader.com/et/threads/opening-onlys-2010.187382/
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Yes, of course it does, but you left out the most important bit
What is it that you believe was left out?