Don's Openings and More for 2006

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1 long win, 1 short win, +380

Not a bad week; will come in handy since I gotta start scrounging for Super Bowl tickets next week since we didn't get picked in the Steeler season ticket holder lottery.

Have a good weekend all.
 
Quote from Don Bright:

Something to consider. One of our longer term traders analyzed all his openings very meticulously last year....and then compared his results from the previous 2 years. He found no correlation to "buys" vs "sells" (for profits), no correlation between up or down openings, and found that he did better the first two years when he wasn't worried about all the detail work....so, analyze away....but keep "doing" - I think you'll find random profits.

Don
More...

I'm going to have to disagree with Don on this one, profits or profitability with this strategy can be greatly enhanced by focusing on the details. My research has proven that it's the difference between making 50k a year, or putting 200k+ on the board with the strategy.

As an example, the two best opening order guys I know, keep very detailed records. This attention to detail has paid of handsomely over the past few years. Their profitability has increased every year, even in the present low volatility markets. I contend that If you want to be great at anything you have to study and master your game. You must keep records, you must learn from your losers, and study your winners to learn how to trade them better. It's more work, it takes time, but the rewards are worth it.

Think about this, how do professional, and even collegiate level atheletes prepare for next weeks game. They spend hours studying the tapes of their opponents and learning their moves, and then they create a plan for game day. Trading is no different. You can study the characteristics of the market, you can study each stock, and learn from your opponent,(specialist) then you can create a strategy for trading both the market and the specialist, and ultimately formuluate your game plan for trading the open every day. If you do the work, then it just comes down to focus and execution. I call it the MADE process, and I have been using this process to improve all my trading strategies. That is MONITOR, ANALYZE, DECIDE, EXECUTE!

Good trading to all!

Mike

P.S. Don...you were going to post the results from your automated opening trading strategy. We havn't heard any updates, so how has this week been for you!
 
School week, will be posting next week (although I have to trade in front of 22 new boot campers, ...a "lotta pressure").

And, (write this date everyone)...I may have to re-state my overall opinion about the filtering and the record keeping.... my program has a super analytical aspect to it...and, (yes Mike), I am "filtering" my stocks with some more scrutiny...mainly for volume and news.....

Everyone has to adapt, admit when they made mistakes, and go forward...

More to come....

'All the best,

Don
 
7 fills / 1000 each

4 long / 3 short +1390.00

-.8 / +.7 %

left some on the table...but i'll take it...

waited out gd from -250.00 to -18.00...whew

any one out there build databases or use ms access...
i feel this will facilitate much better data review than excel...any help is greatly appreciated...
 
7 fills / 1000 shares each

7 long...+520.00

- .9 / + .6 %

got hosed on stop in abt filled @42.00 on a 42.20 stop...low of the day...

didn't let my winners run....left mer & hca on the table...:(

till tommorrow...
 
Chiguy,

I, too, was in mer and bailed with a 20 point profit or $200, leaving at least 450 on the table.

On the other hand, I bailed on hwp and twx (long) with profits and they have now tanked pretty good.


Any suggestions on maximizing profits?

Thanks
 
the only thing i can figure is to use trailing stops...

the hard thing is to stick to them...

i don't have enough data to say for sure...

that is one of the things i am trying to journal...the problem is it is somewhat subjective as to the actual pricing...

i think i am going to create a database vs an excel sheet to give me more flexibility in interpreting my data...

sure wish i went to college...:)
 
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