The most common way is to set a sell and buy pending order at X pips away from the NYSE open. But I doubt that will work on its own. Usually that method is better with stop orders, but if it doesn't open one-sided and does a fakeout then you'll lose. It's a very naive strategy.
Konstantinos Kalaitzidis #:
The most common way is to set a sell and buy pending order at X pips away from the NYSE open. But I doubt that will work on its own. Usually that method is better with stop orders, but if it doesn't open one-sided and does a fakeout then you'll lose. It's a very naive strategy.
The most common way is to set a sell and buy pending order at X pips away from the NYSE open. But I doubt that will work on its own. Usually that method is better with stop orders, but if it doesn't open one-sided and does a fakeout then you'll lose. It's a very naive strategy.
Why naive, the most important things is not the pending orders but the timing. If the pending orders are open for example few minutes after the opening then you avoid the fake breakouts. Also important the distance of the pending orders to the current price. You also need a trailing stop. The key is the timing and the distance.
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Hi All,
Can anyone recommend how to trade the opening of the NY Stock market with pending orders for US500 and US100?
Thanks,
Pej