How far from Open?
- Thread starter fantomas
- Start date
After the market opens,
wait patiently for the big boys to move the market.
Then react to it accordingly.
I used to trade a strategy around OO orders. The theory is that all the indexer's (and ETF"ers now) have to be in balance. So you might get a flurry of buy or sell orders right at the opening price and then things would settle down. Think reversion to the mean.
Before the open on NYSE/AEMX stocks we would take the previous close and place buys below and sells above an envelope that we calculated off of Fair Value. In theory the pressure to buy/sell would cause the price to gap and then you bought/sold that gap, playing for reversion to the mean. Be careful of stock specific news in the pre.
If you search "Don's Opening only" or similar there are a bunch of threads from the early 2000's on it. Some guys did really well with it. Some did exceptionally well on days when there was lots of option activity. Search user "Lescor" too.
Takes a lot of capital to do it right. This was when I traded prop.
Before the open on NYSE/AEMX stocks we would take the previous close and place buys below and sells above an envelope that we calculated off of Fair Value. In theory the pressure to buy/sell would cause the price to gap and then you bought/sold that gap, playing for reversion to the mean. Be careful of stock specific news in the pre.
If you search "Don's Opening only" or similar there are a bunch of threads from the early 2000's on it. Some guys did really well with it. Some did exceptionally well on days when there was lots of option activity. Search user "Lescor" too.
Takes a lot of capital to do it right. This was when I traded prop.
Those were good days. You had to have the series 7 to get the leverage of a prop firm, but the leverage limits only applied to open positions. So you could have millions of $$ of orders out there, get 10 or 20 fills, and still be well within the limits.
I was also in a later group where we had constantly updating envelopes throughout the day. We did very well, but the envelopes had to get tighter and tighter to get any fills at all. Got way too risky.
if that chart is using time based data then no it's random and of no use at all.
move on to non standard - non time based data then it becomes useful.
so good idea wrong application.
chart below shows 10 point range bars and subgraph is like your image it centers around the open of the bar. i have taken random looking data and organized it into statically predictable patterns. the centerline of the subgraph is dark yellow which is the open of each bar.
move on to non standard - non time based data then it becomes useful.
so good idea wrong application.
chart below shows 10 point range bars and subgraph is like your image it centers around the open of the bar. i have taken random looking data and organized it into statically predictable patterns. the centerline of the subgraph is dark yellow which is the open of each bar.
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Yes. But you’re probably only scratching the surface at this point.
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SOMETHING like that;
on cash SPYG ....+ related unless you are real , real good @ shorting or[ invesre] stay away fro last hour on thaT CHART or do SPYG...... smaller then.
And SPXS may make money then \
but SPXS + SQQQ DECAYS SO MUCH , so i would find soemthing better not leveraged then, to make a profit.
THAT chart also shows[just measured it\ lousy uptrends]
boy plunger Livermore made more on long side /most likely with better [AVERAGE]up/trend$ than that one
I read that book every year. Always get a new nugget. My trading got way better when I looked at everything, not just a chart, and that led to longer time frames. Sit on your hands!%%
SOMETHING like that;
on cash SPYG ....+ related unless you are real , real good @ shorting or[ invesre] stay away fro last hour on thaT CHART or do SPYG...... smaller then.
And SPXS may make money then \
but SPXS + SQQQ DECAYS SO MUCH , so i would find soemthing better not leveraged then, to make a profit.
THAT chart also shows[just measured it\ lousy uptrends]
boy plunger Livermore made more on long side /most likely with better [AVERAGE]up/trend$ than that one
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NO WONDER = recommended by Jack Schwager.
I like the funny but timely remark = ''its a bull market you know-Old Turkey''
He noted someone way back then, used old business envelopes for a[ honey] do list;
instead of buying paper notes