Don's Openings and More for 2006

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5 fills / 7700 shares

3 long / 2 short / -254.00

-.75 / +.75% no skew

real choppy this am...had no feel and got out sooner than later...

blocked 17 out of 86...

lots of earnings etc...
 
Quote from lescor:

I'll start off 2006 with a review of my 2005 trading of this strategy. I've posted my annual results the last few years in the spirit of the thread. 2004 results are here: http://www.elitetrader.com/vb/showthread.php?s=&postid=658387&#post658387

I trade the strategy 100% manually aside from sending my original orders in as a basket. This was my best year ever by quite a bit. However it was mostly due to a few very big days. Without those days, the bottom line was about as expected.

The numbers

Net P/L $204,939
Total shares traded 13.7 million
Commission paid $60,435
traded 236 of 252 days
net profitable days: 145
losing days: 84
scratch days +- $50net: 7
winning weeks: 35
losing weeks: 17
longest losing weeks streak: 2 (4 times)
longest winning weeks streak: 6 (twice)
net cents per share traded: 1.5
average net per day: $868
#trades: 1618
win rate 65%

5 best days (net)
Nov 18 $57939
Sept 8 29799
June 17 24871
Oct 21 11614
July 14 7377

5 worst days
Apr 25 -5104
Oct 28 -4269
Dec 19 -3682
Mar 15 -3340
Nov 3 -3176

Good luck to all in '06
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Is this "trade with specialist" approach worth the work?
Let me do an estimate.
Let B denotes account balance, P=4B the purchasing power.
Assume that (a) 1 out of every 5 orders are filled, (b) average stock price is $25 per share, (c) gain per share is 1.5 cents=$0.015 per share as Lescor said.
Then, each day, the return rate is
P/5*0.015/25/B = 0.00048.
Annual compounded rate is
(1 + 0.00048)^250 -1 = 12.8%.
This is not worth it.
Please correct me if any of the above assumptions is wrong.
 
Quote from ProfitMania:

Is this "trade with specialist" approach worth the work?
Let me do an estimate.
Let B denotes account balance, P=4B the purchasing power.
Assume that (a) 1 out of every 5 orders are filled, (b) average stock price is $25 per share, (c) gain per share is 1.5 cents=$0.015 per share as Lescor said.
Then, each day, the return rate is
P/5*0.015/25/B = 0.00048.
Annual compounded rate is
(1 + 0.00048)^250 -1 = 12.8%.
This is not worth it.
Please correct me if any of the above assumptions is wrong.
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P=4B is wrong. You are assuming retail leverage. This strategy is best employed using prop leverage and you'll probably find most of the profitable posters are trading this strategy prop.
 
Quote from ProfitMania:

Is this "trade with specialist" approach worth the work?
Let me do an estimate.
Let B denotes account balance, P=4B the purchasing power.
Assume that (a) 1 out of every 5 orders are filled, (b) average stock price is $25 per share, (c) gain per share is 1.5 cents=$0.015 per share as Lescor said.
Then, each day, the return rate is
P/5*0.015/25/B = 0.00048.
Annual compounded rate is
(1 + 0.00048)^250 -1 = 12.8%.
This is not worth it.
Please correct me if any of the above assumptions is wrong.
More...

You're absolutely right...It's not worth it! Some of us who don't have anything better to do with our time just view it as a hobby. :)
 
Quote from mschey:

You're absolutely right...It's not worth it! Some of us who don't have anything better to do with our time just view it as a hobby. :)
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I agree. Who needs an extra stinking $200k a year?
 
OK guys, be nice...remember, it's better that others don't join us, more money for us....just like those who don't eat turkey at Thanksgiving...more for me, LOL (as if I need it, LOL).

Anyway, fair day today....+$540...out by 9:34.

Boot campers had a tough day..they didn't get their slingshots in quickly enough....and had to suffer through a 2 hour lecture from me....all in the vein of trying to get them more profitable, of course.


Back at it tomorrow...

Don
 
9 fills / 12600 shares

8 long / 1 short / -1536.00

- 1.15 / + .35%

just an awful day...made a lot of errors in execution as my arb positions were mixed in with the 0/0 orders...

most of my losses were mental screw ups....

it still amazes me that i can still think of new ways to hurt myself...

oh well...:(
 
Quote from ProfitMania:
More...
....

Most of your assumptions are wrong. How you arrived at 12.8% doesn't seem to make sense either. "Worth it" is a personal decision. There is definitely opportunity cost because you are tied up trading one strategy and might be missing other good trades.

I'm only up $15k net on this strategy this year, less than half of where I projected I'd be at this time of year. I do it because it's fairly steady, and after 5 years, easy, money for me. It's a good way to start the day, and every once in a while you get a huge payoff. Lots of downside to it too though, like you can get your ass handed to you in a hurry if you miss something important.
 
openin' plays are mostly free $$$ for me i don't ever place me orders before mkt opens as don&co do but soon after da bell; works very well for me...2days ago i had a massive run with zran, 4%+ gains in just 10min.
r/r umbeatable here, but ya, im glad u think it is a waste of time'n'money...don't need more competition for sure, hee hee:
 

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