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GE was over 40 cents above its fair market value pre-market so I shorted it opened at 12.49, made 23 cents.

I did offer a constructive suggestion: 1) buy some good books, and 2) practice by trading 10 shares at a time. This thread asked for opinions of people who actually went to the course, and I actually went to the course and gave my opinion. Sounds constructive to me.

I took their week basic course, and it was standard stuff you get out of a book. They claim to teach you to trade on their nickel, but you are instructed to bail out if you loose more than 10 cents. I had to ask the guy next to me how to put in an order. Also , they teach Level 2 NASDAQ, but...

Bought GE and lost .16. Could have broken even if I waited 5 minutes.

1 fill, 1 long CAT, 1 winner , 11 cents

For the last few openings, I have been doing manual exists only and doing better. I limit my order to 10 and try to set my envelopes to get no more than 3 fills. The problem I have with automatic exits is the following – your winners get filled at a limited profit but your losses are...

10 orders, sell only, 1 fill MRK 32 cents.

10 stocks, buy sell, 1.2% envelope. 1 fill GE 14 cents.

Placed sell only orders for 18 stocks with envelope of .8%. Got only 1 fill – GE for .06 cents profit.

I got 6 fills with 5 wins and 1 loss. Got five solid wins but gave it all back because bought HD which kept falling - bailed at 10:02 and still fell after that. I am thinking of establishing a 3 to 5 minute time stop to cut the losses.

18 orders, 2 fills, 2 wins, 0 loses. Got filed on shorting CAT and MRK 26 cents. 6.5 cents/share. This time I was more patient. MRK went against me, but I waited for it to come back down again and meet my original limit order with a profit at 9:37.

If I would have waited - KO broke even at 9:38 and JNJ broke even at 12:45. I could have made 40 cents on KO. It's hard to tell how long to wait.

17 orders, 6 fills. , 4 wins , 2 loses. Wins: T, DIS, DD, MRK Loses JNJ, KO. I lost the most on JNJ which kept going up. I could have gotten out of KO at a profit but got confused with the controls and ended up buying 1000 more shares. Got PL of $65 but when include commission lost $25...

Does anyone make use of the pre-market data? I have been putting up a time&sales window and go through the stocks comparing the last print of the t&s window to my buy and sell envelopes . If for example, the premarket price is already significantly lower then my bid, I may remove the stock...

FV = 6.29. 17 Orders, Buy and Sell, Buy envelope 2%, Sell Envelope 1%, Got only 1 fill - bought T for 15 cents. I may have been too conservative on the envelopes. Had 500 shares so made $75.

I am a newbie at this. The one thing that concerns me about this strategy is the money management aspect. Because of the nature of the openings, every once in a while you could end up with a really big loss. Mechanical stops don’t work well because of the volatility. One disaster scenario...

Futures 13 points down. E-mini contract changed today to ESH9. Openings: 14 orders, 5 fills – all buy orders, 4 winners (GE, MMM, T, PG), 1 loss (BAC) for a total PL of 25 cents. Lost .25 on BAC, it kept going down but recovered and I got out with .25 loss. I should have waited to sell...