Little more free advice…

The attached photo shows why you never ever ever trade the last 45 minutes of the day. Ever. Period.
Most of the pros have closed everything out by 3:15 ET and are going home. The last 45 minutes is wild, crazy, and hectic stuff usually dominated by market makers that have lingering orders on their books or institutional program trading. It’s usually nuts. Note in the picture that we hit a fresh 2 day low around 3:15….then proceeded to head straight to the day’s highs and close there. Don’t trade the last 45, especially if you’re down on the day hoping for one last trade to "get even." Chances are it won’t work out and you’ll just get chopped up.
Took me several thousand dollars worth of losses to figure this out. Learn from me for free. Just don’t do it.

About diqster

r to the hizzle
This entry was posted in Markets. Bookmark the permalink.

2 Responses to Little more free advice…

  1. Gary says:

    Day job isn\’t keeping you busy?  Pffffff.

  2. Richard says:

    Oh it is keeping me plenty busy. Most of the trading is done before I head to work and closed out during lunch before 12:15. My style is largely mechanical now. Whenever an entry order is triggered, a corresponding closing order is automatically submitted.
    So, not too much time at work dedicated to this. Most of the work is done the night before and during the first 2 hours of the trading day. 

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