ER2 and the 34ema

[walterw]

About the best time of the day to trade 34 ema rejections.... would be nice to make some stats about at wich time of the trading day this has the best performance.... so far seems like the first 2 hours of trading are the most reliable... then market gets tricky...

[TinGull]

I'm sensing that too. Then the afternoon 50% fib retracement seems to offer a nice little snack

[MseTrap]

I'm not too embarrassed to say that i was stuck in a pattern early on in my trading where I would make good gains in the first 2 hours of trading and then in the next hour give back half my winning as the market would fall into chop. Its strange how a market can start to fall asleep and do more consolidation in a sneaky manner without realizing it, especially if your focused too much on setups. Reading the tape definitely helps cure this. Now, after the 1st 2 hours of the market I either change my strategy to suite the market or just walk away and feel good about it.

[walterw]

Well yes Msetrap, it also happens to me that I normally make very good money on the first two hours and if I keep trading after that, most of the times I end giving back gains... it takes lots of experience to deal with a sleepy market... Tingull could you expand on does 50% fibonacci retracements at lunch hour ? I mostly look for some coil breakouts at this time of the day, but there is 50/50 false breakouts... so it gets hard to be consistent at lunch time... at least myself.... I normally take a deep on my swiming pool after this two hours.... its more healthy for my pocket

cheers Walter.