Day Trading the US30 Open

[carlos430]

Hi,

My name is Carlos & have been trading the open of the US30 for over one year now. Since the beginning of October 2012 i've been making monthly gains of around 100 tics.

Be very interested to share US open ideas & strategies with other traders?

Regards

 

[j2o]

Hi,

My name is Carlos & have been trading the open of the US30 for over one year now. Since the beginning of October 2012 i've been making monthly gains of around 100 tics.

Be very interested to share US open ideas & strategies with other traders?

Regards

Hi Carlos,

This is something I have been looking at for over a year but I have not managed to make consistent profits from trading it. For about one hour before and one hour after opening time, usually there are large moves of up to 50 points, have you found a method of catching these on a regular basis?

j2o

 

[carlosd]

Theres a simple strategy at the open you can develop on, sit out the first half hour of the open and look for a reversal at 10am US time.
You can devise your own entry or exit signals, but you if you have a look at a 1 min chart you will see the market tends to change direction at that time.
Does it do it all the time, no, does it do it enough to build a strategy around probably, I used to scalp it at that time, you almost always got a decent move, its not something I have used for a long time, but a quick flick through a few 1 Min charts showed it still plays well.
You need to use a bit of discretion, obviously if theres a strong trend at the open, then likely hood any reversal at 10 is only going to be a pull back, and you miss the main move, other times you catch a huge move.
Flick back through a few charts and you might see what I mean.

Last couple of days would have nailed alot of pips.

Good Luck
:cheesy:

 

[j2o]

Theres a simple strategy at the open you can develop on, sit out the first half hour of the open and look for a reversal at 10am US time.
You can devise your own entry or exit signals, but you if you have a look at a 1 min chart you will see the market tends to change direction at that time.
Does it do it all the time, no, does it do it enough to build a strategy around probably, I used to scalp it at that time, you almost always got a decent move, its not something I have used for a long time, but a quick flick through a few 1 Min charts showed it still plays well.
You need to use a bit of discretion, obviously if theres a strong trend at the open, then likely hood any reversal at 10 is only going to be a pull back, and you miss the main move, other times you catch a huge move.
Flick back through a few charts and you might see what I mean.

Last couple of days would have nailed alot of pips.

Good Luck
:cheesy:

I have read about a similar strategy for the Dow but I haven't tried it yet: you determine the high and the low of the first 60 minutes trading range after the open, then you watch the price action, if it breaks the high, you go long and set your stop at the low point of the first 60 minute range, and vice versa if it breaks the low. Your target would depend on your style of trading, or support and resistance or perhaps Fibonacci.

I wonder if anyone has tried this strategy?

I have also read in the "Articles" section of T2W, an article written by Tim Wreford in 2005 about how to develop a strategy. I thought it was a very well thought-out strategy and many other people commented the same however not many have come forward to state if they've traded it successfully. Even the author seems to have given up in 2006. Does anyone recall this and why it failed.