market open trading

[Clay Davis 2]

So I've been watching the chat room guys trade during the open and early morning. Most times, to my beginner eyes, I can't discern why exactly they've taken a trade because there appear to be no patterns formed yet on which to base a decision. What data is being used to make these decisions?

Thanks,

Clay

[Drew 4]

Hi Clay, 

There's a few common patterns that people spot and play...

- Opening range breakout (1m,2m,5m etc.) Identifying the momentum of the direction and usually scalping on the 1m/2m ORBS

- Fallen angel / rising devil

As a beginner, it's a hard place to trade. I'd suggest watching and waiting for the pace to slow down until you're comfortable that you can (1) spot the pattern and (2) process a plan quickly (entry,exit,stop, share size etc).

There's a fountain of videos in the education centre that talks to these strategies as well as steps to take when you start out. 

[sawtooth500 33]

Do you have sim clay? For me, I never really started seeing stuff until I started trading in sim. Granted, I didn't see stuff day 1 in sim either I was just kinda trading blind... but the way my brain works is the process of trying to see patterns myself in real time, just the attempt of it, helped me to grasp what others were doing in the trading room during the open, and then it started to make more sense. Start sim trading as soon as you can.