From what I can see, there are a number of advantages of buying or selling stocks during the opening and closing auctions:

• Huge liquidity. The opening and closing auctions have the largest amount of liquidity of the entire trading day.

• No need to worry about my execution speed. All orders during the auction get resolved at the same time and at the same price. I don't have to worry about "missing the price" as a result of my slow internet connection.

• No need to worry too much about execution quality. Trading during the auctions completely avoids questions about payment for order flow.

• Psychologically, I avoid thinking too much about the time I place my order. I avoid thinking of (possibly irrational) things like: "I should have placed the order at 11am instead of 2pm". The opening and closing auctions are fixed times with the aforementioned advantages, so I can confidently place my order and immediately get on with my day.

Given these advantages, I have decided to completely avoid buying and selling during the continuous trading hours, and instead trade exclusively during the opening and closing auctions using market-on-open (MOO), limit-on-open (LOO), market-on-close (MOC), and limit-on-close (LOC) orders.

Is there anything wrong with the reasoning I have provided above? What are the disadvantages I should be aware of? Is it a good idea to buy or sell stocks during the opening and closing auctions only?

From what I see, there are a number of advantages of buying or selling stocks during the opening and closing auctions:

• Huge liquidity. The opening and closing auctions have the largest amount of liquidity of the entire trading day.

• No need to worry about my execution speed. All orders during the auction get resolved at the same time and at the same price. I don't have to worry about "missing the price" as a result of my slow internet connection.

• No need to worry too much about execution quality. Trading during the auctions completely avoids questions about payment for order flow.

• Psychologically, I avoid thinking too much about the time I place my order. I avoid thinking of (possibly irrational) things like: "I should have placed the order at 11am instead of 2pm". I can more easily ascribe the execution price to "fate" rather than "poor timing". The opening and closing auctions are fixed times with the aforementioned advantages, so I can confidently place my order and immediately get on with my day.

Given these advantages, I have decided to completely avoid buying and selling during the continuous trading hours, and instead trade exclusively during the opening and closing auctions using market-on-open (MOO), limit-on-open (LOO), market-on-close (MOC), and limit-on-close (LOC) orders.

Is there anything wrong with the reasoning I have provided above? What are the disadvantages I should be aware of? Is it a good idea to buy or sell stocks during the opening and closing auctions only?