From a famous floor trader on NY stock exchange who shall remain nameless.
NY indices opening range breakout trade.
draw a line above and below the 9;30 AM candle NY time tf of your choice ( I like the 5 min} price breaks above buy, price breaks below sell,,,,at least 2 positions,,,take 1 position off when you get 100 points in profit, and let the rest run depending on your setup.
From a famous floor trader on NY stock exchange who shall remain nameless. NY indices opening range breakout trade. draw a line above and below the 9;30 AM candle NY time tf of your choice ( I like the 5 min} price breaks above buy, price breaks below sell,,,,at least 2 positions,,,take 1 position off when you get 100 points in profit, and let the rest run depending on your setup. I do this every day in NY session If you are in Europe, use the London Open Have fun.
Ignored
Do you draw line to open/close or high/low? and how do you enter trade? waiting close ex: 5min chart 9.35 bar close? i did some backtest and it shows well-perform. i think i will apply to my strategy. how about position sizing and RR?
