Why you shouldn't trade the 1st hr of the day

My targets come from the atr of the last 5 bars, multiplied x3. I'm not reading tape, or scalping 1 min bars. Here is rimm, gave a buy today in the first 10min with an atr of .40 cents, so targets now 1.2 points....as you can see we never made it.

We are all good traders in hind-sight.
 

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Quote from No.Heat:

I'm not sure what's more embarrassing, the soup of indicators or the 1st hour comment.

Tough one.

No Heat
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I'm not sure what's more pointless, a guy that reads the title of this thread, doesn't agree with it, but decides to waste the time posting on it, or a guy that hasn't figured out that not everyone trades like he does.

Tough One.

Kon
 
FWIW saying my best trading is from 0815 - 1130 and from 3-4PM. First hour of trading is fine for trading if know what you're doing and don't get caught off-guard. If anything, I avoid 1130-1330 like the plague because to me it's just a boring time in the market and more choppy than trendy according to my style of trading.

That said, I am rarely if ever "in" the market from 9:25-9:45 as I like to see how the open unfolds before I enter a trade.

It all comes down to knowing what you're doing, whenever you feel comfortabe doing it.
 
Quote from Surdo:

Now I remember why I stopped reading this board 3 months ago!
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Ya, well you know you'll be back. After all you racked up 4000 posts :eek: , and that don't happen just from reading.
 
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