Got stubborn with HPQ this morning (-$400). Gotta get back to the new program, LOL.
Don
Don
Don's Openings and More for 2006
- Thread starter Don Bright
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1 short fill, +30.
I'll take that small win after yesterday's HUGE win by the Steelers
I'll take that small win after yesterday's HUGE win by the Steelers
mschey,
That's probably the hardest thing to figure out. I compute the envelopes off the difference between SPX and SPU. I don't really have any hard set rules. Usually if the SPU's are up/down 2 pts I use a .4 to .45. Another thing I do is type every symbol into my Montage and price ticker to see if any of my stocks are trading in the premarket. I will use the premarket prices in lieu of the close in setting my prices. Do you use the same envelope for both buys and sells? I would appreciate any advice you have.
That's probably the hardest thing to figure out. I compute the envelopes off the difference between SPX and SPU. I don't really have any hard set rules. Usually if the SPU's are up/down 2 pts I use a .4 to .45. Another thing I do is type every symbol into my Montage and price ticker to see if any of my stocks are trading in the premarket. I will use the premarket prices in lieu of the close in setting my prices. Do you use the same envelope for both buys and sells? I would appreciate any advice you have.
I only had 3 fills today.
hpq was a small loser, i sold when it bounced back -.05
jpm small winner +.03
mer took .20, but it shot up over a dollar
I would love to figure out how to stay long in something when the spu's look weak, etc. I usually don't have a problem staying in on a strong trending spu day, if the spu's are moving the same direction as my position.
I may start to target 1/2 position at +.10 and put a stop at b/e on the other half.
Today is choppy thus the bail.
My consolation is that I did bail on hpq which could have been nasty.
hpq was a small loser, i sold when it bounced back -.05
jpm small winner +.03
mer took .20, but it shot up over a dollar
I would love to figure out how to stay long in something when the spu's look weak, etc. I usually don't have a problem staying in on a strong trending spu day, if the spu's are moving the same direction as my position.
I may start to target 1/2 position at +.10 and put a stop at b/e on the other half.
Today is choppy thus the bail.
My consolation is that I did bail on hpq which could have been nasty.
I am new to trading and I have found many of your posts very helpful. I was hoping that a few things could be explained so I have a better understanding of this concept.
1) Once you figure out the target price what percentage above/below do you enter your buy and/or sell orders.
2) Since the FV and Futures change up to the open how do you have time to enter all of your orders and make sure that your calculations are still valid.
3) Are there thousands of other traders employing this same strategy? If so, will the discrepancies between equities and where the market opens eventually disappear?
Thank you for your input.
1) Once you figure out the target price what percentage above/below do you enter your buy and/or sell orders.
2) Since the FV and Futures change up to the open how do you have time to enter all of your orders and make sure that your calculations are still valid.
3) Are there thousands of other traders employing this same strategy? If so, will the discrepancies between equities and where the market opens eventually disappear?
Thank you for your input.
I generally use the same envelope between buys and sells. As for pre market trades, I screen for news and avoid it, as long as there is no news then ecn's don't matter IMO.
As for optimal exit....that will come with time. If you are going to try and maximize your gains every day, you have better be prepared to run the strategy for two weeks in a row and lose. Not many can do this, for now, I would focus soley on making money, taking the scalps, making a few hundred and building your account, confidence, and really learning how the strategy performs under different market conditions. Once you achieve a level of mastery(backed by profits), then I would start to work on maximizing profits.
Good luck!
As for optimal exit....that will come with time. If you are going to try and maximize your gains every day, you have better be prepared to run the strategy for two weeks in a row and lose. Not many can do this, for now, I would focus soley on making money, taking the scalps, making a few hundred and building your account, confidence, and really learning how the strategy performs under different market conditions. Once you achieve a level of mastery(backed by profits), then I would start to work on maximizing profits.
Good luck!
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