Don's Openings and More for 2006

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Quote from Hooked2000:

I just started to trade opens this week, starting with 100 lots.

So far 2 days up, today down.

question: What determines the percentage of your envelop?
More...

i started just like you about a year ago with 100 share lots...

i played around with percentages and came to my current -.75 / +.75% by trial and error...it also seems to suit my basket of stocks that i trade...

read the back posts on this and last years thread and you will get a lot of good info along with some crap...you will know which to ignore...

most of the posters on this thread are very amiable and have helped me greatly...even told me to get off my ass and up my size...(thanks don)...

good luck..
 
"Then you may start with layers....xxxshares at .05, xxx shares at .09 etc. "

Don, I have a couple of questions regarding a layering strategy.

1) Do you have any statisical evidence showing that the further away from fair value that a stock opens, the more likely it is to have a retracement?

2) If not, aren't you putting yourself at risk of having more shares on your losing trades and less shares on your winning trades?

Thus, you could wind up having 80% winning trades while having a losing account.

Thanks in advance for your answers.
 
Quote from comfut:

"Then you may start with layers....xxxshares at .05, xxx shares at .09 etc. "

Don, I have a couple of questions regarding a layering strategy.

1) Do you have any statisical evidence showing that the further away from fair value that a stock opens, the more likely it is to have a retracement?

2) If not, aren't you putting yourself at risk of having more shares on your losing trades and less shares on your winning trades?

Thus, you could wind up having 80% winning trades while having a losing account.

Thanks in advance for your answers.
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Wider it opens, the more it can move...."statistical evidence" - yes, "cuz I seen it lots" LOL.

We have people who enter thousands of orders, pretty wide, and do soooo well, that it adds to my "comfut" level...LOL....

Think about it..even intraday when a stock drops $5,00 or so, it will pop back a 20-70 cents or so at least ("most" of the time).

All the best,

Don
 
Thanks Don,

I will observe your trades vicariously to build my confidence up before plunging in.

I appreciate your willingness to share your trades thus allowing me to raise my "comfut" level, as well. lol
 
5 fills / 9200 shares

3 long / 2 short...+52.00

-.85 / +.65%

forgot to adjust for xdiv today...got 2, 2000 share fills that i was pleased to scratch...

not quite enough to cover commissions....

oh well could have been a lot worse...

till tomorrow...
 
Thanks for the great information Don and Chi Guy... I haven't had a chance to pour through all the posts yet. So I do have 1 more question.

How long, on average, do you hold a position from the open?
 
anywhere from 10 seconds to 30 minutes...

comes with practice and knowing your stocks...

i have a tendency to get out a little quick and it is something i am working on...
 
4 fills / 6500 shares

2 long / 2 short...+325.00

-.65 / +.85%

blocked 12 of 86

had a 32.58 stop ignored in aa...watched it go to 33.00 and covered @32.73...

too much excitement for me today...
 
Hi all and thanks for your insights to OPGs. Ive been paper trading this strategy for awhile and have decided to add it to my current "toolbox" of trading strategies. I will be starting with small positions (200 shares), and then adding as I gain experience trading them. Ill post my results starting Monday. Have a good weekend !
JP
 
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