Don's openings and more for 2005
- Thread starter Don Bright
- Start date
Got plugged in late (at the expo in Anaheim), only 1 fill $50 bucks (paid for breakfast, barely, LOL).
Don
Don
$50 for breakfast!! Wow, you ought to try Belisle's just down the street from the center...
Lefty
Lefty
1 long fill, tiny loss -45
Tell me about it, 2 people, but still pretty high here at the Hyatt.
Another $50 on Friday, only 1 fill. I am going to revert back to the "add FV to spx" formula for opening envelope, since we are back to multiple point FV (4.79 on Friday).
Come join us in Anaheim for the expo and the Bright Trading sponsored poker game ($thousands in cash and prizes to be awarded). Check www.thewealthexpo.com
Have a good weekend,
Don
Another day of non-participation, same as yesterday and much of the last 3 weeks. Looks like you've got to go to Clearwater, Florida if you want fills (Phils). 
+$250 today, break even yesterday and Monday. I'm re-adjusting envelope size to reflect FV, since we have over $4.50 premium now.
Don
Don
I have just been catching up on these threads. It has been a while since I traded and now I am gearing up to go at it again, after taking time off to dabble in some profitable real estate ventures.
It seems like few people are really making money these days with the OO strategy. My trader buddies have told me that no one is really playing them these days and most successful traders are now combining high frequency scalping with some longer term holds (on fundamentals/technicals)- and staying far away from OO's.
I have thought about getting back into the OO game, but really, is it even worth it now? Are you guys finding that the time spent doing openings is taking away from profits on sector plays or the frequent good chops a decent filter can alert one to??
Whats the skinny on openings these days?
Thanks in advance,
NYSEscapla
It seems like few people are really making money these days with the OO strategy. My trader buddies have told me that no one is really playing them these days and most successful traders are now combining high frequency scalping with some longer term holds (on fundamentals/technicals)- and staying far away from OO's.
I have thought about getting back into the OO game, but really, is it even worth it now? Are you guys finding that the time spent doing openings is taking away from profits on sector plays or the frequent good chops a decent filter can alert one to??
Whats the skinny on openings these days?
Thanks in advance,
NYSEscapla
Besides myself, I know only a couple other traders who trade openings consistently. The ones who've had continuing success at it have been doing it for years, have the process down pat, know the stocks and are comfortable handling size on multiple positions that move very quickly. In other words, it's a strategy that they specialize in. You take some big hits, have losing streaks and sometimes question things. But you're there every single day applying your edge, keeping good records and always assessing your risk. But those are things you will find with most strategies. The guys who make the most money at it put in the time and specialize at it. Doing it half-assed will not get you very far.
One big drawback to opening orders is the opportunity cost. I know for me that it's usually about 20 minutes into the day before I can focus my attention on anything else that is happening and the best moves are often over or too extended to enter by then. Just judging by the number of traders who I have seen try it and eventually give up, it seems like a tough game to master.
One guy's opinion
Corey
One big drawback to opening orders is the opportunity cost. I know for me that it's usually about 20 minutes into the day before I can focus my attention on anything else that is happening and the best moves are often over or too extended to enter by then. Just judging by the number of traders who I have seen try it and eventually give up, it seems like a tough game to master.
One guy's opinion
Corey