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Some traders choose to stay away from the opening action while others seem to trade the open just fine.
Comments such as the opening is unpredictable and better to stay away is fairly common. One traders methodology may not be suited for the opening while another traders methods may be suited.
I personally find the open and the initial 60 minutes the only real action in day trading the eminis. I have a simple method I use to trade the open and offers a fairly good scalping opportunity.
What are your thoughts on the open? Do most retail traders stay away at the open? Are they mostly insitutional orders coming in? Any thoughts/comments are welcome. |
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I personally like the open, I thrive on things like gap fades, breakouts etc. I could see how the open can be a dangerous place for entry in a longer term trade though. For a swing trade I would want to wait until a more definite trend developed before finding an entry point.