Thats when I only trade
Should You Trade the First 30 Minutes After the Market Opens?
- Thread starter Lloyd W. Coutee
- Start date
Wrong reason to trade
Fact
All the discipline in the world will not make up for the associated volatility
No Thanks..., rather let it settle and reveal its bias
One thing that took me the longest to grasp / appreciate - no need to trade at the open - more prudent opportunities will surface later on..., and always have
RN
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It really depends on your methodology and system.
Often, you will know a lot more about how the day will look AFTER the first 30 minutes.
Often, you will know a lot more about how the day will look AFTER the first 30 minutes.
Data will tell you how frequently the low or high of the day occurs by 10.00 EST.
And how often by 10:30 EST. If I didn't trade the open, I'd still eat. But not nearly as well as I do now.
In the last hours of the trading day, volatility and volume increase again. During this part of the day, traders may be trying to close some of their trades.
Do you mostly rely on first 2 bars for direction and simply use a super tight stop (and of course choosing an instrument that trended your way yesterday and pre-market)? That's as good as i can come up with.
I've not found gaps particularly helpful, but i may be missing something. Welcome to share common set-ups used in first 5 mins. Thanks!