Only trading the close on NYSE

[Jack_Larkin]

Anyone else only trading within the last hour or last 30 minutes of the day?

I've been focusing on just hitting stocks during this time, and doing so with size as opposed to trading throughout the day with risk spread out in each trade.

They say "armatures trade the open, professionals trade the close" and while I don't believe in that statement.. I've been doing well enough on just the close that I don't bother trading much else.

I keep a journal here about it: Intra-day Equity Journal

Thoughts? Anyone else hit up US equities during this time only? Wanna compare notes?

 

[wackypete2]

The close is much easier to trade than the open. A bit more orderly, generally. 3:00pm NY time is a reversal time. Large funds and day trading firms need to start closing positions. Quite often during the last 10 minutes a move accelerates and you can catch some good quickie trades before close. Flat days where there was no movement or volume is a signal to stay away.

Peter

 

[Jack_Larkin]

Yeah, I'm finding flat days to be the most tame in terms of P/L.. I do wish we had more volatility and volume these days.

And yeah, the last 10 minutes are great, save for the last 25-30 seconds when snap reverses are common.