Hey guys ,
I've been trading for almost a month now and I seem to have a modest/decent returns . I'm thinking of expanding my horizon and adding a few more strategies into my scalping/day trading routine .
I came across a strategy online where it says that if the open price and the low price of the stock are the same or nearly equal . we should buy it , as it generally goes up . I saw this strategy on many many sites and even read it somehwere on this forum and it seems to have a high % of accuracy .
It would be extremly helpful if the senior memebers who have used this stratergy can tell me more about it . cause i dont seem to be able to wrap my head around it .
cause when they say , open = low ... do they mean low in the first 30mins of the market or previous day or something else ?
if anyone had done any backtesting regarding it ,also would be extremely helpful .
Regards,
Hedgefudge
I've been trading for almost a month now and I seem to have a modest/decent returns . I'm thinking of expanding my horizon and adding a few more strategies into my scalping/day trading routine .
I came across a strategy online where it says that if the open price and the low price of the stock are the same or nearly equal . we should buy it , as it generally goes up . I saw this strategy on many many sites and even read it somehwere on this forum and it seems to have a high % of accuracy .
It would be extremly helpful if the senior memebers who have used this stratergy can tell me more about it . cause i dont seem to be able to wrap my head around it .
cause when they say , open = low ... do they mean low in the first 30mins of the market or previous day or something else ?
if anyone had done any backtesting regarding it ,also would be extremely helpful .
Regards,
Hedgefudge