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I agree with you Don, but the only thing I was thinking of was how the market traded on September 17-20, 2001. The 21st was probably the best day ever for opening orders. Do you remember how you did on the other days that week?

Only put in buy side orders, 1% envelope. But I reduced my size from my usual 1300 shares to 500, just because we were way off the chart in terms of how far down the market was opening. I was experimenting with the system under these conditions as much as anything. 5 fills, only one loser...

The average share price of the stocks I trade is $50.30. For the past month, my average volume on openings (one side) is 7400. In that time, I've grossed $13,200. Keep in mind, that as Don said, the past month has been exceptionally good. Definitely better than average. So you could say...

I don't think ROI is all that relevent to daytrading, since most traders think in terms of net return, not percentages. For this strategy, the main stat I track is daily and average net cents per share. Or, my net profit divided by how many shares I traded. This evens things out because I...

It probably works more often than not, but remember that these are usually news events that can spread against you by 50 cents to a dollar with no prints in between. A 10 cent stop loss is no good to you there. There's also no guarantee that the specialist is buying the opening print, and...

The early writings of Gary B. Smith on thestreet.com cover the subject thouroughly and are easy to understand. His early stuff is still available for free in the site's archives. Van Tharp's book is the only other work I've read that details the concept of expectancy and how important it is...

http://www.sterlingtechnologiesinc.com/

Sterling Trader allows it. Don't know who else besides Echotrade uses them. It's handy to be able to have everything open on two computers at once. If one goes down, you can turn to the other one without having to reboot.

I have 18 one minute charts up and ready to go before the open. As soon as I'm filled, i put the stock into a chart, then in a level 2 box, then put out an order to exit some of it at a profit. The fills were coming so fast this morning, I gave up trying to read the tape or watch quotes in a...

www.realmoney.com, but you have to be a subscriber. Try the free trial if you're not.

I knew it would be crazy, especially with the way the minis were going bonkers right before the open. I had 17 longs and 1 short, all winners except one, lost 3 cents in DOW. Grossed $7.01, my best day ever by a mile. Could have gotten better exits on a lot of them, but managing that many...

I remove all stocks that have a news event, like earnings, upgrades, sector news. I think the openings still work fine for them, it's just that when they don't, the damage can be significant.

from TC2000, tab delimited though.

I enter market on open orders for the same stocks every single day of the week. I would never use a market on open order to exit an existing position, because as you say, you are guessing at where it's going to open. I will use opening orders to enter stocks that are delayed and the rest of...

Don, are you saying LEH and C were opening fills for you yesterday and you held them overnight? Is that normal practice for how you trade the open? For today I went 4 for 5 with 4 longs and 1 short. Made $300 after commissions. CAT slapped me upside the head for a 25 cent loss.

I agree with most- a rally followed by more downside. I don't know where we finally bottom, but the S&P 500 looks like a big head and shoulders formation to me. Any comments?

The posts on this subject are right on. If anyone hasn't read "Trading in the Zone" by Mark Douglas, I would highly recommend it. The whole premise of his book is based on these points. The third time I re-read it, it finally clicked in and has turned my trading around. I just accept that...

I think the last 10 years was the anomaly and what we are seeing now is closer to the norm. Trading is supposed to be hard, it's one of the hardest business to achieve long term success in. And if you aren't willing to switch styles when the market dictates it, you don't have a paddle, a...

A follow up to my post after the last big gap down open we had last week. Then I was getting filled a lot of shorts and ended up canceling all unfilled orders and getting out of those shorts with losses. Today's open was about the same, -1.29% below FV, then it was -1.53. I was not feeling as...

Gary B. Smith from realmoney.com has a nightly list of swingtrade picks and some q&a from readers that can be informative. He's got a good track record and if you want some one to just feed you picks, he'd be my first choice.