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Trading time 3463


With all the great ideas that float around for good trading strategies please contribute how you feel if one sticks to a definite time to trade the market every single day rather than trying to trading when ever one feels like. Day trading strategy should be practiced like a religion..............
ak1,

My way of trading is counter-trend in the ES from 9:30-10:00 then break from 10:00-10:25 unless I am in something and then trade the IB breakout with a few market profile filters and try to catch a few great trend trades that last most of the day. I trade this way in the ES and I have set times to trade the TF (russell 2k) which is automated it is a time based breakout stratgy that signals twice a day. So I would agree that specific times are needed to trade for a living. You seem to be on the right track....
A good stratgy that works well longer term in the ES is to buy options or futures on wends when the ES breaks its mon-tues trading range ex. last week you would have entered at 960 something and exited at 930 on friday but it hit a low of 900 at which time the markets became grealy oversold which is why I think some systems need that human element. another ex. is entered for this weeks trade a short around 886....I like options for this because you could draw down a bit and still stay in the trade and it work itself out
One could also "time" months...i.e. when markets make new lows or highs they tend to do so all month or week same as they do intra-day when they break the first hours trading. A picture perfect ex. is this month the ES broke the first weeks IB (the first 2 days in the first week) which triggered a short @ 962....
quote:
Originally posted by ak1

With all the great ideas that float around for good trading strategies please contribute how you feel if one sticks to a definite time to trade the market every single day rather than trying to trading when ever one feels like. Day trading strategy should be practiced like a religion..............




I wish I could narrow it down to where I'm able to only have to trade for a few hours a day but I haven't had any luck so far in being able to do that successfully. Either I havent made my goal or I'm having to fight my way back from a loss so I end up in front of the screen almost all day.

I do have times that I don't trade, 15 mins b4 open till 1/2 hour after open, lunchtime and the last hour b4 the close. Also 10 mins b4 and after a news anouncement.

I think I read somewhere where the Forex markets have specific times for the diff currencies.