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Yes, there is such thing as times of the day that the market is "suppose" to do
this,
as a regular "predictable occurence, when it did not happen, something is going
on.
Also day of the week, each specific day (Min-Fri) has their own behavior too!
You
have to find this about your specific market, this is also as important as your
technical
signals, because it will give you clue about market tone.
(strength/weakness/direction).
At least it is quite important to my trading (deciosion making/pulling the
trigger) activities.
Nixon(MLS) wrote:
> > hi,
> >
> > Im thinking wether limiting trading to/or excluding certain times of the
> session
> > maybe better for various reasons and would like to hear what INTUITIVE
> and
> > SYSTEM traders think about it:
> >
> > IMO special times in S&P :
> >
> > first hour
>
> I would be very cautious in the first 15/20 minutes but as the main move of
> the morning and even the whole day can start around the 1st half hour I
> think you will struggle to get on board any move if you don't trade within
> the 1st 60 minutes. Unless you are trading some breakout type strategy
>
> > first 2 hours
>
> same as above but more so!! The first two hours is the best time to trade
> for me.
>
> > last hour - after bond close
>
> last hour can be very erratic or very dead. even earlier on a Friday.
> Either way I would not want to be involved. I do enter any new trades in
> the last hour. If the market is active in the last hour the move usually
> started well before that. I am usually fairly tired by then anyway and
> probably not thinking straight.
>
> >
> > Would you recommend to EXCLUDE those times, especially the first hour ?
> > (after a first trend has establiched ?) or JUST trade the last hour ?
> >
> > Im not trying to be even more lazy but CONCENTRATE better on SAFER (if
> > there is such thing) periods of the day ?
> >
> > thoughts ?
> >
>
> I am cautious in the lunch time. If ADX drops below 15 during the lunch
> hour then I wont try and guess which way it will break I just wait for it
> to happen. I don't want to be part of the Local's lunch :-). The squawk
> will tell me how full the pit is and how many big locals there etc which
> also gives me a gauge.
>
> It seems to me that the S&P consists most days of 3 moves. Morning one
> starts around 10am then corrects during lunch, say 1200 onwards.
> Afternoon move starts usually around 145/200pm.
>
> rgds
>
> Philip
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