n market for about 20 minutes total today. I was out and about with friends but made a 100.00. Every hour of the market has its own peculiarities. Just got to be aware of what's happening or is going to happen. But those peculiarities aren't a given.
Getting several pm's on trades. Charts have 3 moving averages 2-5 ma's one is applied to open and the other is applied to the closed price. Then I have a 20 ma applied to close. I like 4 or 5 ma's to be going in direction of trade on the 1,5,15 minute trade. I like the 1 min tf to be close to or on the opposite side of 20 ma and then a turn of the 5 ma back to trend of the majority of ma's. Then close when in profit as soon as possible, unless a news release in your favor. Clarification (I consider the 2-5 ma's as 1 ma in my count of ma's going in one direction).JTee1:-)
Total of 5 min in the market this morning. Most of it on the golf course while waiting for others to tee off. Not my main trading style but how I trade when out and about. In between things.
More then any system or indicator try to know the market patterns at certain times of the day. Definitely news time but also ranging and retracement times ( when market makers are taking profits ) If I had to categorize times it would be as follows. These are what I am thinking at these periods. IMHO
EST
3-6am movement
6-8am ranging
8-11am movement and more of a London reversal over 50% of the times
11-12am retracing
12-1pm ranging
1-3pm more of a continuation of 8-11's move
