01-07-2007, 08:23 AM
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TinGull
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Re: Interesting Initial Balance Statistic
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Chris, I basically try to enter a trade near a key reference area identified by Market Profile when market internals are weakening - nothing new here. I just try to enter a trade in the first 60 mins any chance I get because of the risk/reward. That's why I think that the first 60 mins of trading is perhaps the most important. I also use the IB range and potential day type for determining whether a high or low is being set in the IB period. For example, the extreme of a wide IB range usually holds, a narrow IB range may turn into a trend day, etc. With respect to day type, a Normal Variation day tends to have range extension that doubles the IB range - stuff like that, but those are really details. The key point is to try to enter a trade, based on your trading strategy, around the first hour or so to catch most of the daily range about 70% of the time. At least, that's the goal...  The chart below is my attempt last Thursday, 1/4, but I royally messed up the exit, but I won't get into details here.  Did I answer you question? |
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Thanks Ant...yes, you answered it.  I was thinking you were doing something else...it all makes sense from MoM.
Thanks again~!
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