Nah. Just sometimes you eat the bear, sometimes the bear eats you.
You mention you don't have Limit On Open/OPG/Opening Only orders. How are you entering your trades for this strategy?
Don's openings and more for 2005
- Thread starter Don Bright
- Start date
Nah. Just sometimes you eat the bear, sometimes the bear eats you.
You mention you don't have Limit On Open/OPG/Opening Only orders. How are you entering your trades for this strategy?
Quote from sucre_estave:
Nah. Just sometimes you eat the bear, sometimes the bear eats you.
You mention you don't have Limit On Open/OPG/Opening Only orders. How are you entering your trades for this strategy?
I just use normal limit orders... I have a random sample of stocks open in time and sales and when the majority of them have opened, I canel all my pending orders... Today at 9:31:35 I had 6 or 7 out of 8 random stocks opened and at that point I canceled all my pending orders... It's not the best but, it will have to do for now.
mnx
Kind of dangerous, fills right after the open can be some of the worst of all (Specialist taking his profits from the actual opening). I strongly suggest using "Opening Only Orders."
Don
Quote from Don Bright:
Kind of dangerous, fills right after the open can be some of the worst of all (Specialist taking his profits from the actual opening). I strongly suggest using "Opening Only Orders."
Don
thanks for the heads up! I'll just keep trading kiddie size (100 lots) until my firm puts the orders in. hopefully that won't take too long.
thanks again.
mnx
Quote from Don Bright:
Kind of dangerous, fills right after the open can be some of the worst of all (Specialist taking his profits from the actual opening). I strongly suggest using "Opening Only Orders."
Don
I agree. You don't want to put yourself at any disadvantage by requiring more manual steps than are necessary.
I think you said Friday was your first day using the strategy; that was probably a bad thing, since days like Friday happen maybe four times a year, if that. You don't want to have your thinking skewed by how easy it was. Most of the time openings are no easier than any other form of trading.
1 long fill. 12cents on 100 shares. HPC.
Found out today that our BRUT Passthrough orders are set to cancel at 4:20 after they are put out and our system won't replace orders unless a L2 window is open for that stock. The result, I only had orders out on 8 stocks when the bell rang.....
arg!
tommorrow...
mnx
Found out today that our BRUT Passthrough orders are set to cancel at 4:20 after they are put out and our system won't replace orders unless a L2 window is open for that stock. The result, I only had orders out on 8 stocks when the bell rang.....
arg!
tommorrow...
mnx
How do you guys tell if a stock has news or not?????? I thought I'd use yahoo market tracker stock screener (real time data) and throw out all the stocks with premarket volume... Well it let me down today on TIF, it had traded premarket but yahoo said it didn't...
So what is a better solution to getting rid of news stocks??
matt
So what is a better solution to getting rid of news stocks??
matt
I use yahoo and dowjones pre-opening. Generally (yes, just "generally") we don't bother cancelling for news items, just on earnings days (we never know how to interpret earnngs warnings, etc.).
The "buy on rumor, sell on news" adage usually applies to openings, and works out well.
BE SURE to adjust your bid OR offer with any pre-opening indications.
Don
4 fills / 1000 shares each
2 long / 2 short...very sloppy today...
- .95 / + .55 % +169.00
for news i use esignal headlines, trade the news and cbs marketwatch (free)....
i go through and see what can hurt me and adjust or cancel accordingly....
it's a lot of busy work but it sure saves me pain...
in my opinion it is always better to miss a trade than take a borderline trade and get whacked...
i live to play another day..
2 long / 2 short...very sloppy today...
- .95 / + .55 % +169.00
for news i use esignal headlines, trade the news and cbs marketwatch (free)....
i go through and see what can hurt me and adjust or cancel accordingly....
it's a lot of busy work but it sure saves me pain...
in my opinion it is always better to miss a trade than take a borderline trade and get whacked...
i live to play another day..