At the Open 2 Strategy: A Price Action Trading Technique for Beginners
The At the Open 2 strategy is a popular trading technique developed by DayTradeToWin, a trading education company founded by John Paul. This strategy is designed to take advantage of the price movements that occur during the first few hours of the trading day.
Day 1
On the first day of using the At the Open 2 strategy, we focused on the E-mini S&P 500 futures market. We followed the steps outlined in the strategy, which involved identifying the opening price, determining the market direction, and entering a trade based on the market’s direction.
We identified that the market was in an uptrend, and the opening price was lower than the previous day’s close. We entered a long position and set a stop loss to manage risk. Throughout the day, the market continued to move in our favor, and we were able to make profits by the end of the trading day.
Day 2
On the second day, we focused on the E-mini Nasdaq 100 futures market. Again, we followed the steps outlined in the At the Open 2 strategy and identified that the market was in an uptrend, and the opening price was lower than the previous day’s close. We entered a long position and set a stop loss to manage risk.
Throughout the day, the market was volatile and experienced some pullbacks. However, we were able to manage our position and take profits by the end of the trading day.
Day 3
On the third day, we focused on the Euro Currency futures market. We followed the same steps outlined in the At the Open 2 strategy and identified that the market was in a downtrend, and the opening price was higher than the previous day’s close. We entered a short position and set a stop loss to manage risk.
Throughout the day, the market continued to move in our favor, and we were able to make profits by the end of the trading day.
Overall, the At the Open 2 strategy proved to be a successful trading technique for our 3-day review. By following the steps outlined in the strategy and managing risk through the use of stop losses, we were able to take advantage of the market’s movements and take profits by the end of each trading day.
It is important to note that while the At the Open 2 strategy can be effective, it is not a guaranteed way to make profits. It requires discipline and a willingness to manage risk. With practice and experience, traders can become proficient in using this strategy and add it to their arsenal of trading techniques.