Trail Mix Wednesday, page-11

@rturve@hoots haven't paid 100% attention to trading the premarket/open discussion but it triggered some memories of my past learnings and this may be irrelevant to your disciussionbut I will share in case it helps someone??.

When I first started fishing in the derivatives world and tried to learn how to trade indices (cfd's) i spent quite some time trying to learn the openers rule .... Robbbb (who was prolific on here back then) speant some time time on his theories (I am sure some of his vids are still on HC or on youtube.)

In simple terms Openers rule is let the market open and after a certain time it often moves back through open and sets off on its range for the day ... open a trade at that time; stop at the already set day high or low and away you go. Only enter if the high or low is less than (from memory) 0.25 ATR and set a limit of (from memory) 0.75 ATR or perhaps as a multiple of the risk.

Logic of system was IRRESISTIBLE to me because if you look at say the xjo the vast majority of candles red or green have very small wicks against the colour of the days trade and solid bodies where you are trying to make your $$$$.
Lets look at some charts.

PS 1. having just spent a few mins on charts it will take me too long to explain in the detail I hoped ... doubt anyone interested in my ramblings anyway (lol) so I will post and respond if anyone has posts any questions.

2. in case its not obvious i could never get this system to be consistently profitable.

cheers g