Maximizing A Bull Market Bias
“One never knows when a strongly rising market will open at its high and
then collapse. Therefore, to fully maximize the effectiveness of a bull market
bias, we daily want to wait for the market to tip its hand early in the
session. This is done by letting the market trade for 15 minutes and then, and
only then, do we enter when the high of that first 15-minute bar is taken
out.”
–-Laurence A. Connors, in
Advanced Trading Strategies (1998, M. Gordon
Publishing Group, Malibu, CA).