Yesterday ALSI futures was sideways for most of day - was very annoying because my system was not picking up any high probability trade so at 16H10 went for a cup of coffee and when I came back just after 16H15, missed the perfect opportunity at 16H15. So if you trading, get software that can make you coffee also!
With you on the early morning action - far more profitable. Mid day is a recipe for consisten losses. These days wall street opening has merit, because the action starts at 2:30 (futures) which still gives me enough time to beat the traffic on my way for a surf.
yip, Alsi early morning systems have not been onon this forum. it would be nice for traders to share thier ALSI morning trading strategy. There always is a nice big move in the first 1hr. it would be nice to discuss possible ways of trading the open auction.
I take first 30 (1 min) candles to get a range.Ignore the first 1 min candle as that is normally the gap or part of it.I then wait for a 5 min candle to close outside the range and then trade it.(must be a strong move) Trade 3 contracts with trailing stop of 50 or 100.(depending on the situation). Take profit on 2 contracts at 1R (R=RISK) Move stop loss on remaining contract to breakeven.