Could anyone give me idea about DOS - Daily Opening Strategy?

<p id="isPasted">This technique can be customized to both part-time and full-time traders.</p><p>In case if you are trading part-time just like me, you could set two orders (buy and sell) after the completion of the latest daily candle and set according when the DOSR indicator changes.</p><p>But if you can access to the charts during the European and US opening session, you should switch to 5-min and look at the completion of the 5-min bar for confirmation of entry.</p><p>Both styles worked, however, by switching over to 5-min bar for confirmation, the returns are much higher.</p>

<p id="isPasted">In trading, the Daily Opening Strategy (DOS) is a popular intraday method that uses the "Daily Open" price as a critical pivot point to determine the day's market bias. The core philosophy is that the opening price represents a "level of control": if the price is above the open, bulls are in control; if below, bears lead the session.&nbsp;</p><p><strong>Core Variations of the DOS</strong></p><p>There are several ways traders implement this strategy:</p><ul><li>Mean-Reversion DOS: Trades against the direction of the previous day's candle. If the previous candle was large and bullish, the strategy looks for a reversal at the new day's open.</li><li>Open-High-Low (OHL) Strategy: A specialized version where a trade is triggered immediately if the Open = High (bearish signal) or Open = Low (bullish signal).</li><li>Opening Range Breakout (ORB): Traders identify the high and low of a specific opening window (e.g., the first 40 minutes) and trade the breakout of that range. </li></ul><p><strong>Key Strategic Rules</strong></p><ul><li>The 15-20 Minute Rule: Many beginners are advised to wait for the first 15–20 minutes of the market session to pass before entering, as this period is often characterized by extreme, unpredictable volatility.</li><li>Daily Open as Support/Resistance: The daily open level often acts as a "magnet." If the price breaks above the open, a retest of that level often provides a high-probability buy entry.</li><li>Stop-Loss Placement: For long trades, the stop-loss is typically placed at the day's low or just below the daily open price. For short trades, it is placed at the day's high. </li></ul><p><strong>When to Trade DOS</strong></p><p>The strategy is most effective during periods of high liquidity and volume, such as the London/New York session overlap (8 AM to 12 PM EST). For specific assets:&nbsp;</p><ul><li>Forex: Highly effective on major pairs like GBP/USD and AUD/USD.</li><li>Stocks: Often applied to "Blue Chip" stocks or indices like the Nifty 50. </li></ul><p><strong>Risk Management (The "90-90-90" Warning)</strong></p><p>Trading the opening bell is high-risk. Statistics suggest that 90% of retail traders lose 90% of their capital within the first 90 days. To counter this, professional DOS traders strictly follow the 1% or 2% rule, never risking more than that percentage of their total account on a single opening trade.&nbsp;</p>