Don's Opening's Journal....

Originally posted by def
don, don't mean to impinge on your thread but OO orders should be coming soon with IB. However, if you have limited capital, you'll be limited to placing orders to i guess 4x margin. bright and others will have less restrictive margin policies.
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I realize that there are many fans of IB, and I have in the past recommended them for retail traders...so there is no problem with me about IB.

Let's look at openings this way. If you put in 20 buys and 20 sell shorts, 2000 shares each, average price $50....that adds up to $4 million dollars on the opening, which means you only need to have $1million in your trading account.

We all know that there is not very much risk with these orders, but you will be limited by the retail margin...but you can start small and build up.
 
I realize that there are many fans of IB, and I have in the past recommended them for retail traders...so there is no problem with me about IB.

Let's look at openings this way. If you put in 20 buys and 20 sell shorts, 2000 shares each, average price $50....that adds up to $4 million dollars on the opening, which means you only need to have $1million in your trading account.

We all know that there is not very much risk with these orders, but you will be limited by the retail margin...but you can start small and build up.
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True, true, true. No way getting around the use of capital, the fast conversions/bullets, the access to education, and the sorroundings of other professionals at a prop firm.

However, until I am at prop, IB ROCKS!

nitro
 
Originally posted by The edge
3 winners, 2 loosers, 1 scratch. Average profit on each trade 6 cents, still exiting the good ones to early.
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Tell me about getting out too soon (had people in the office)...LLY, made 28 cents before it went up another buck and a half!!

Oh well....need to keep it simple...
 
will the new nyse open book help with this trade?seems to me you could see the orders the specialist has for the open and judge direction better with it.
 
Have had a different provider of lines to my office so I haven't been able to do the openings as usual. I'll be up and running tomorrow. But from my list the following openings would have been nice today: JNJ, PG, EDS, YUM, IGT, UN (small), CCU, and only looser on my list was EP. Enjoy!
 
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