I know a stock can rise or fall dramatically at any time during the day. But has anyone studied the rhythm of a morning opening and afternoon close and established an ideal time to have a contingent order exercised..eg ...the default Stop Loss....Sell XYZ at 98 cents if the price is equal to or less than 98 cents between 10:10 am and 4pm or ....
Is it better on average to have the order activated after
10:30 when initial covering has worked through
10:45 market settling down
11:00 market settled
11:30 major announcements out of the way
12 noon Asian markets all opened
3 pm direction for the end of day likely indicated
3:30pm unlikely any reversal now
I use the default time but sometimes get annoyingly whipsawed out. I just wondered what others do and if there’s something better I should try.
Thank you for your help