Yes Pete. I normally call the broker shortly after the open and will ask where the market opened before placing my order. If I'm looking to buy the market, and the market opened below my entry, I will place the order right away. If the market gapped my entry I will usually wait 30 - 60 minutes before checking in again.

If after the first half hour (or hour) of trading the market is trading below my entry I will place my order for the day and forget about it. If the market is trading near my intended entry I have to reassess my position to make sure I still have a favourable risk/reward and decide whether to buy at the market or let it go. If prices are still trading well above my entry I will usually pass on the market for the day.

The first 30 - 60 minutes are usually the most unpredictable, especially on a Monday, or an important report day. After that time the market will usually pick its direction for the day and stick with it...usually.

Erich
http://www.tradershelpingtraders.net
http://www.supportandresistance.com