Multi-hour day trading: you're buying the open, selling the close

KCalhoun

KCalhoun

My favorite day trades used to be scalping gaps, breakouts and pivots.... usually 5 to 20 minute round trips, done by 11am.

But now I've been testing all-day trades, trailing a stop midday, closing positions 3:30-4pm.

Anyone else? Goal is to get bigger profits from stocks running up all day.
 
KCalhoun said:
But now I've been testing all-day trades, trailing a stop midday, closing positions 3:30-4pm.
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So, just to be clear, you initiate a trade earlier in the morning, use a trailing stop until midday, and then let a profitable trade ride for the most of the remainder of the day and hope for the the best, having “locked” in whatever profit with the last trail of the protective stop?
 
Frederick Foresight said:
So, just to be clear, you initiate a trade earlier in the morning, use a trailing stop until midday, and then let a profitable trade ride for the most of the remainder of the day and hope for the the best, having “locked” in whatever profit with the last trail of the protective stop?
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Smart to clarify... rules:

Let's say for example I'm looking to trade a stock that closed yesterday at 20. Today it gapped up, opening at 20.4.... premkt low is 20

I enter .20 over high at 20.6. I immediately put hard stop at 20.

I then let it ride til 11 or so. Now I change hard stop to .4 trailing stop.

The reason to tighten stops near midday is occasional big midday reversals.
 
Ah, I misunderstood. (It is past my bedtime.) For some reason, I thought you had an initial trailing stop which you stopped ratcheting at midday. I was going to ask why then. My mistake. Thanks for the clarification.
 
That's worth testing, too. I got shook out alot though if I started with t/s. So premkt lod hard stop to start, let it dink around awhile, then update to t/s for ones that don't stop out early, to let multi hour runners run.
 
KCalhoun said:
That's worth testing, too. I got shook out alot though if I started with t/s. So premkt lod hard stop to start, let it dink around awhile, then update to t/s for ones that don't stop out early, to let multi hour runners run.
More...
Ken, XELA was $3.95 in AH. If you bought MDIA and XELA at the Open and poked your head the last hour both were great. XELA promoters are going nuts now, should be fun tomorrow.
 
KCalhoun said:
My favorite day trades used to be scalping gaps, breakouts and pivots.... usually 5 to 20 minute round trips, done by 11am.

But now I've been testing all-day trades, trailing a stop midday, closing positions 3:30-4pm.

Anyone else? Goal is to get bigger profits from stocks running up all day.
More...
Do you find this strategy works better on individual stocks or ETFs ? Or it makes no difference?
 
TrailerParkTed said:
Ken, XELA was $3.95 in AH. If you bought MDIA and XELA at the Open and poked your head the last hour both were great. XELA promoters are going nuts now, should be fun tomorrow.
More...

brilliant, now 4.9 wish id traded it... Epic call wtg
xela13july.jpg
 
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