Don's openings and more for 2005

Free Thinker · Dec 8, 2005

Quote from nlslax:

It seems as though traders at Bright are taught to place orders at the open with the idea that they get in at a certain price and soon after get out.

Do most Bright traders trade throughout the day or is the open the primary trading period? At the prop firm I trained at we were told to stay off the keyboard at the open and grind it out 'til 4pm.

I have a couple questions which might lead to proprietary answers. Feel free to generalize.

- What is the criteria for picking stocks for that morning?
- How do you determine the buy, stop and sell prices?

Thanks

all of those questions have been answered dozens of times. all you have to do is read the threads.

Moreagr · Dec 9, 2005

Quote from Don Bright:

I find that 2,000 is good for most stocks, a bit more for stocks like TWX or GE.

Don

thanks don and shreddog!! i have to start out by doing 100 or 200 to start out with

yeah GE is really thick you be luck to get a dime or two out of it.

oh BTW Don is your platform automated to have your calulations done and orders placed minutes before the open?

i'll have to stop by your booth for the expo

Don Bright · Dec 9, 2005

Quote from nlslax:

It seems as though traders at Bright are taught to place orders at the open with the idea that they get in at a certain price and soon after get out.

Do most Bright traders trade throughout the day or is the open the primary trading period? At the prop firm I trained at we were told to stay off the keyboard at the open and grind it out 'til 4pm.

I have a couple questions which might lead to proprietary answers. Feel free to generalize.

- What is the criteria for picking stocks for that morning?
- How do you determine the buy, stop and sell prices?

Thanks

1. One, two, or three letters in the stock symbol, large cap.
2. Determine estimated opening price based on futures - FV.
3. Envelope that price.

We do trade all day....this is just a good way to start the morning with an uptick (usually, LOL).

It is just plain stupid to not trade during the first hour and the last hour of the day....(sorry to sound rude, but even my friends st Schonfeld saw the light a number of years ago).

Don

Don Bright · Dec 9, 2005

Quote from Moreagr:

thanks don and shreddog!! i have to start out by doing 100 or 200 to start out with

yeah GE is really thick you be luck to get a dime or two out of it.

oh BTW Don is your platform automated to have your calulations done and orders placed minutes before the open?

i'll have to stop by your booth for the expo

We have several automated programs that we use, with various levels of sophistication.

See you at the Expo...join us for our Christmas party...

www.stocktrading.com/party2005.html

Don

Dedupe · Dec 9, 2005

I was stupid today... i forgot to update the closing price for WYE and it went straight up after opened, and of coz i got filled at the worst price since my closing price wasn't being updated.
Got filled short at 43.61, it went straight up to 44.00... wut a stupid mistake to make

Anyway, here is the result:

17 Stocks/ 34 Orders, 4 fills

Winner: CVS (Long 10 cents), KO (Long 11 cents), SLE (Short 2 cents)
Loser: WYE (Short 19 cents) !!!!

i will be more careful next week.

peilthetraveler · Dec 9, 2005

Something fishy went on today....10 fills all short 7 losers 3 winners... -2100

worst opening orders ever...had a .5 envelope...you can bet that envelope is moving to .7 now

mnx · Dec 9, 2005

3 fills 1000 shares each on 77 stocks (154 orders....)

LUV long
HLT long
AES Short

total net $245.

LUV and AES were winners... HLT was a scratch...

until monday...

mnx

Don Bright · Dec 9, 2005

No fills again today...with a .4 envelope.....missed HPQ by 2 cents, bummer....

I am working on the "next level" spreadsheet and will start adding layers next week...should be going full bore by Jan 2.

Don

dodger fan · Dec 9, 2005

question for people that do over, say, 20 stocks. how do you track them all if most of them get filled? do you have automated routines to close them out? thx.

peilthetraveler · Dec 9, 2005

Quote from dodger fan:

question for people that do over, say, 20 stocks. how do you track them all if most of them get filled? do you have automated routines to close them out? thx.

I close them out manually. The stocks i am in i can see in my position monitor box and it tells me how much I am up or down in each specific stock. My basket of stocks is 18 stocks