How to trade market open for e-minis

bighog,

i like that very much....the only thing i disagree with is the market open being more important...anytime the bars are normal size or bigger then it is good trading daytrading eminis .......each bar can be very accurately predicted by system signal...at the beginnnig of bar formation....very highly......then it is reading a book scenario.......word by word..most don't have the tenacity to get there, but other systems might be their cup of tea....scalp, ride the runs, position all day, etc........ .. enlightedtrader.....no offense...if you stay on forums for awhile you will see the attacks get really ugly.......soon u trust no one to be honest with you......i have been impressed with big hog's comments in the past...pay close attention to his post .....he gave you the big clue about trading big event times.....
 
Quote from bighog:

If you can not trade the ES in a 5 minute chart at pit opening time (or are afraid to) you are not using a proper plan.

Set up a mechanical set of parameters and go for it when your preset signals are hit.

Trading is not about being right, it is about doing what is called for to make some bacon.

The OPENING is the most important time of the day. It is up to your experience to decipher the action to determine if you want in or want to wait for entry. that is called "MKT SKILL", it is not from a book nor can it be bought.

Good luck, good trading..........PS, i have a set of rules to trade the opening. Quite simple of you have paid your dues. ...:)
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I agree, there are ways to trade the open. Doesn't mean you have to trade every open. But there are setups that are very reliable which occur at least once a week. And have done so for years.
 
Quote from bighog:

If you can not trade the ES in a 5 minute chart at pit opening time (or are afraid to) you are not using a proper plan.

Set up a mechanical set of parameters and go for it when your preset signals are hit.

Trading is not about being right, it is about doing what is called for to make some bacon.

The OPENING is the most important time of the day. It is up to your experience to decipher the action to determine if you want in or want to wait for entry. that is called "MKT SKILL", it is not from a book nor can it be bought.

Good luck, good trading..........PS, i have a set of rules to trade the opening. Quite simple of you have paid your dues. ...:)
More...


Bighog,

Thank you for your advice. I've done some backtesting and found that generally 5-min chart is working quite well to trade open. The key here is to differentiate open types. For normal open, we can use normal set-ups. For gap open, the situation is quite different. We must act much faster for gap open.
 
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