Market open / market close differences?

[NigsyP 1]

Hello guys

I'm a new trader (joined as Lifetime member in December) and would like some advice.

I've read the books, bought the T shirt and am currently working my way through the Education Centre and will be starting in the Sim at the end of February. I'm from the UK so the market opens at 14:30 and closes at 21:00 my local time. 

When I'm ready for live trading in [hopefully] July, I won't be quitting my day job until I'm consistently profitable , so will be trading the market close when I get home of an evening (19:00 - 21:00 local time). When I'm ready to quit my day job, I will want to change that routine and  trade the market open as this gives me the quality of life I'm looking for.

So here's my question, and sorry if it's a stupid one, there's just so much I'm learning at the moment, my head's spinning (in a good way 🙂 )

 Are there any discernible  differences between the first two hours of the market and the last two hours?   I know that the volume drops during the middle of the day and I will be avoiding that, but what I'd like to know is if I spend 6 months in the sim trading the market close, followed by a further 6 months live while I'm still in my day job, when I come to quit my day job will I need to learn a whole lot of new skills and /or strategies  in order to trade the market open?  Or will the transition be pretty doable with a few tweeks here and there?

Thanks in advance. 

 

 

 

 

 

 

[NigsyP 1]

22 hours ago, peterB said:

hi Nigel, unfortunately it is very different but that should not discourage from your dream. DAS has a replay feature where you can with some limits train the market open anytime of the day so have a look at that feature. Aiman does some replay challenges too so you can try those to train yourself if you use DAS.

Thanks for your reply Peter, replay mode it is then . The challenges sound good.  Does Aiman do these via the forum? Or the chat? Or is there a specific place I would find them? I also noticed something in another thread regarding 3Bar plays? They sound interesting. Is there any resource on them within BBT?

[NigsyP 1]

Thanks Peter, they look really useful. One thing though, why couldn't I find them myself? Even though I know they're there I still can't locate them on the website without using your link? Is there a secret place that I haven't found yet? 

Scrap that, I just found them in the 'Technology' section!

 

Edited February 8, 2021 by Nigel P

[Guywin 1]

Hey Nigel, 

In Andrew's books and/or here on BBT, the various strategies are often characterized in terms of when they are most suitable/available during the trading day, so I would look at this and then see if you can spot and try out these out in sim. Then see what you like.... so the journey will begin 🙂 

I'm also in UK and have to schedule my day around the day job, family etc. The best thing I did was to get regular time slots, which has helped consistency. 

Good luck and hope you enjoy it. 

[NigsyP 1]

9 hours ago, Guywin said:

Hey Nigel, 

In Andrew's books and/or here on BBT, the various strategies are often characterized in terms of when they are most suitable/available during the trading day, so I would look at this and then see if you can spot and try out these out in sim. Then see what you like.... so the journey will begin 🙂 

I'm also in UK and have to schedule my day around the day job, family etc. The best thing I did was to get regular time slots, which has helped consistency. 

Good luck and hope you enjoy it. 

Hey Guywin

Thanks for the advice. Have actually been thinking about that very thing and am going to focus on ABCD strategy to begin with, as this can be traded, albeitly with different volume levels, throughout the trading day. This will tie in nicely with my current work / life balance and setting regular time slots will definitely  help with consistency 🙂