Trading the RTH Open

The RTH Open (9:30 EST) is an interesting point of entry. To make money we need 4 things 1. Time 2. Price 3. Volume 4. Direction. One benefit of trading the open is that the trader has a forced entry as the time, price and volume portion of entry is taken care of. Secondly you can chose to trade once only and keep yourself stress free for the rest of the day. So all we have to look for is a profitable direction. Now the question is whether to buy or sell the 9:30 Open. Various options are 1) Trade in the direction of previous day RTH close (4:15 EST)(Gap fill theory). 2) Trade towards the previous days RTH Open (Volume is the biggest magnet). Trade reverse of the 9:29 EST candle i.e. if it is a Red Candle Buy and if Green Sell or reverse i.e. SELL for Red and Buy for Green. I look forward to your inputs

thanks AK1.....my mistake...at least our data is matching up...well done !!

Nice call on that long at 900 Guru

EHEEE!!!!!!! Stopped out... loss 4 pts. Went long at the 8:29 red candle

ak1 I was just comming by to congradulate you. On my charts the 8.29 bar was green. I just knew you had three in a row.

ak1 I was looking at the wrong month. The 8:29 bar was indeed red. You win some and you lose some. I just hope you gone sit the rest out.

And now it goes all the way to the 4 pt plus target

The sharp decline at open will mean a lot of shorts going profitable in the near future

quote:

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Originally posted by ak1

EHEEE!!!!!!! Stopped out... loss 4 pts. Went long at the 8:29 red candle

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Bummer ak I was watching along and hoping you didnt get stopped. Did you use a market stop or a stoplimit stop?

Buy Market order at 9:30 est with a 4pt. S.L and 4 pt target

What I was wondering ak was if your stop loss was a market order or a stop limit order. Since it just touched your stop I was hoping you were using a stop limit and thereby not getting stopped out. Well at least I think it just touched your stop as I dont know where you went long I was just guessing 907.50

thank you stockster.