The ten-thirty factor

tomorton

Legendary member
8,181 1,242
I am not a daytrader and should give up trying to be one.

However, I am interested in knowing more about the intra-day movements of prices, as I would like to open or close positions (spreadbetting and sare dealing) at the best price achievable on a given day.

I have heard on occasions that 1030am marks a significant point in London's day. It is often the low or high of the day or if not the absolute L or H then at least a significant turning point.

See the FTSE100 today - the low so far (its half past 1 now) was reached just after 10 ,and just after 1030 we started up. Its a pattern I have seen before, but I must admit, I don't watch intra-day prices that closely.

Is the 10:30 point a common turning point, or just a mirage?
 

JonnyT

Senior member
2,560 22
Even if it is a turning point a certain percent of the time your strategy will need defined money management and rules else you have no chance of making it profitable.

May I suggest you download some data and back test?

Personally I don't touch FTSE as there's much easier fish to fry.

JonnyT
 

theknifemac

Well-known member
340 0
JonnyT said:
Even if it is a turning point a certain percent of the time your strategy will need defined money management and rules else you have no chance of making it profitable.

May I suggest you download some data and back test?

Personally I don't touch FTSE as there's much easier fish to fry.

JonnyT

JonnyT

Do you not touch stocks or indices at all now ? And do you find you get enough signals from a smaller universe of tradables (i.e. FX) ?

Cheers

Stew
 

tomorton

Legendary member
8,181 1,242
Hi JonnyT

I agree, nice bets can help win the game, which is nice, but money management stops you losing it, which is essential.

I have led myself up the garden path before with back-testing so intend to do forward-testing, probably using my paper trading account at tradindex. If there is any meaningful conclusion I shall report on t2w.

Tom
 
 
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