On-close & On-Open Entry

...continued from yesterday...

On-close breakout. You enter a new position only if price within the last few minutes of the trading day go beyond the breakout price trigger. In the given example, the on-close breakout would involve an order to “buy on close at market” if price within minutes of the close is above 1200. Or you could manually enter a market order within minutes of the close.

On-open breakout. You enter a new position only if price yesterday exceeded the breakout price trigger, regardless of whether it closed above or below that number. In the given example, the on-open breakout would involve an order to buy the next day at market at the open.

...cont'd tomorrow...

Copyright 2007 Raymond T. Lee. All rights reserved.
Leisurely e-Mini Futures Trading
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