Quoting smjonesDislikedWhy would anyone try to trade the open after a holiday... Talk about ripe for errors and low probability... I waited until things settled down and did very well.... Really, to me it seems like common sense.Ignored
When I first started trading (I started in equities, like most traders), the first thing I learned from my mentor was that, "you generally want to wait after the first thirty minutes of the day to put on a trade."
You also see it time and time again in the forex world. People jump on the bandwagon (see last night's break of the range down pre-London), then the market movers reverse it on them and break the range the opposite way (right around 11:30PST last night)...
This happens consistently and reliably almost every night...in some fashion... yet... people STILL can't make money.
Amazing. Anyway... I digress.
Mr. Trend