Trading the first two hours
- Thread starter Runningbear
- Start date
There is a system called camarilla which used special pivots of their own. Totally mechanical with published performance. You can subscribe for 150$/month at the daytraderclub. This is an example today that I published on my site as a comparison to my own system (I won't give you the url since I will be accused of making marketing for my own):
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=207267>
With this system you would sell at RC3 with a stop at RC4.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=207267>
With this system you would sell at RC3 with a stop at RC4.
the major portion of my profits come from post 10:30 trading, so it's definitely possible to be profitable and not trading the first hour.
working out a reliable, consistent method to trade that first hour (where the swings are delicious!) is my major obstacle to going to the next level in trading.
working out a reliable, consistent method to trade that first hour (where the swings are delicious!) is my major obstacle to going to the next level in trading.
Daniel:
Most professional and consistently successful traders make a large portion of their profits after 10:30 AM. If you will notice, all but one of the people claiming early morning success did not come up with a trading system that was originally asked for in this thread. Very little substance behind their hype.
If there were no opportunities after 10:30 AM, the market would simply close after that time.
Charles
Most professional and consistently successful traders make a large portion of their profits after 10:30 AM. If you will notice, all but one of the people claiming early morning success did not come up with a trading system that was originally asked for in this thread. Very little substance behind their hype.
If there were no opportunities after 10:30 AM, the market would simply close after that time.
Charles
As usual one can hear one and the contrary. Really I wonder how novices cannot get mad 
As Stan Kim puts it on his site
http://www.snailtrader.com/id5.htm
"When I was first learning to trade, it was very difficult because it was so confusing. The amount of information on trading was overwhelming and dogmatic. Most ideas did make sense, but they were often in conflict with each other. Buy dips? Buy new highs? Cheap stocks? High flyers? Options? It was very difficult to reconcile. Additionally, not only did everyone I listen to have a different opinion, but they all sounded so authoritative! Who and what was I to believe? "
There is no binary truth in trading and in fact in every life's domain. All depend on the hidden context. Sometimes people don't even know their implicit context. As a software architect I know it when asking clients how they are organised: they don't even know most of the time they do things by habits and think it is the only one way of doing it.
As Stan Kim puts it on his site
http://www.snailtrader.com/id5.htm
"When I was first learning to trade, it was very difficult because it was so confusing. The amount of information on trading was overwhelming and dogmatic. Most ideas did make sense, but they were often in conflict with each other. Buy dips? Buy new highs? Cheap stocks? High flyers? Options? It was very difficult to reconcile. Additionally, not only did everyone I listen to have a different opinion, but they all sounded so authoritative! Who and what was I to believe? "
There is no binary truth in trading and in fact in every life's domain. All depend on the hidden context. Sometimes people don't even know their implicit context. As a software architect I know it when asking clients how they are organised: they don't even know most of the time they do things by habits and think it is the only one way of doing it.
14 responses and not one suggestion. Can anyone give me an idea for further research?
Runningbear
Runningbear
acrary,
So Crabel's ORB system is basically just a volatility breakout system. I wonder if you could explain the variables?
So Crabel's ORB system is basically just a volatility breakout system. I wonder if you could explain the variables?