Almost all my losing trades are from trading too early
Almost all of my losing trades are from trading at market open
Ive been testing out a new strategy I spent a couple months developing on predicting the market’s movements
I’ve been testing this for past 3 weeks, live trading. I started with $500, and after 3 weeks I ended up either $470, including fees, (I paid $98 in fees wtf). Excluding fees I would be at $568 so $68 profit.
I can make €50-200 per day then lose the almost the exact same amount the following day.
After importing my trades on a trading tracker, I noticed almost all my loses come from trading at market open. Overall my strategy has been good at predicting movements, but because of the huge volatility within the first 1.5 hour, I take huge loses when I trade at these times and by the time my prediction come to pass I only manage to either break even or be at a huge loss. But when ever I make plays after 12:30pm, my trades are consistently profitable especially the closer to market close. I dont know how I overlooked this, using a tracker really helped me see where and what I was doing wrong.
Im going to try this new found knowledge next week and see if im right and have more consistent wins.
https://i.redd.it/w6wefji9rlnd1.jpeg
Posted by Dazzling-Appeal-8766
2 Comments
Interesting to see!
I noticed just… what you call… with a feel that this is probably true for me as well.
I sometimes want to think “well, yesterday, and last week went this way, it’s gotta go this way now!”
However, personally, I feel like those are often losses, like you yourself see.
Overall, volume often dies down mid-day and it gets way easier to predict how things go.
Find recent study of tastylive on “best time of day to buy and sell” for large quantitative study of possible utility to day traders.