Don's openings Part 3
- Thread starter Don Bright
- Start date
Originally posted by mrktrend
Thank, Don. That helped.
I've been trying the OO on the paper for the past two weeks and it seemed to be working so I started with 100 shares in real. However, I'm not getting filled at where I should've gotten filled at least in my opinion. For example I put in five orders today and one of them (everyone's favorite) GE
Closed @ 30.35 yesterday
my entries:
B GE 100 LIMIT 30.15 OPG
SS GE 100 LIMIT 30.46 OPG
GE opened @ 30.25 today and as soon as it opened my orders were cancelled right away. Same for all my other orders except one I got filled on the short side since that one opened higher than the previous close and a penny above my SS price.
I could understand that my GE short got cancelled since it opened lower so the downtick rule but I don't get the buy side. Shouldn't
my buy order be triggered and filled me at the open price??? Am I missing something here???
I hate to say this, but you should spend some time in our school. Think about what you just posted...you tried to buy a stock (GE) at 30.15, but it opened higher at 30.25 (so how could you buy it?). Same on the offer, you offered it at 30.46, much higher than where it opened (30.25). The opening price was in the "trough" between your bid and your offer.
For example purposes, widen this out.
Bid 30. SS at 100.....stock opens at $50, how would you be able to buy or sell with those limits.
Hope this helps!!
Don
filled WMT and GE. +23 wmt +17 ge
+ .65 on Via.b + .85 on PFE + .23 on GS.
+ 3400 for the opening......
I hope you all are using the Eminis for your opening calculations. They moved considerably right before the opening...I cancelled my original orders and resubmitted them to reflect the change.
Don
+ 3400 for the opening......
I hope you all are using the Eminis for your opening calculations. They moved considerably right before the opening...I cancelled my original orders and resubmitted them to reflect the change.
Don
Shocking if anyone loses today playing this strategy. My OO's won 4 out of 5 games on the week. Wish my intraday trading had been as effective.
Today was like stealing. +28 +43 +47 +28 +46 +6 +1 -5 NET after commissions for total of $1.94. Best OO day I've had since
starting back in February.
Ended up being a pretty nice week.
Today was like stealing. +28 +43 +47 +28 +46 +6 +1 -5 NET after commissions for total of $1.94. Best OO day I've had since
starting back in February.
Ended up being a pretty nice week.
Good Job, Dustin....(you got outta pfe too soon....I got .85 )....(Just kidding...great job!!).
Don
I knew it would be crazy, especially with the way the minis were going bonkers right before the open. I had 17 longs and 1 short, all winners except one, lost 3 cents in DOW.
Grossed $7.01, my best day ever by a mile. Could have gotten better exits on a lot of them, but managing that many positions off the open is so wild. I just watched the charts and peeled out in big chunks. Average winner was 41 cents, final tally- $7300 after commissions.
Grossed $7.01, my best day ever by a mile. Could have gotten better exits on a lot of them, but managing that many positions off the open is so wild. I just watched the charts and peeled out in big chunks. Average winner was 41 cents, final tally- $7300 after commissions.
Wow, great job Corey. I wasn't sure what to do when the Eminis took a 10 point dump after I had already submitted my orders, around 6:20. I've never seen a drop like that right before the open. I thought about cancelling all my buy orders. I also thought about cancelling all my orders and resubmitting, like Don did. However, the way I have my automation software set up, it takes about 5 minutes to go through my watch list (almost 100 stocks) and load the orders for the stocks that meet my criteria, so I decided to hang in there and see what happened.
In hindsight, I'm glad I stuck with it. I had four big winners, all long, and no losers for a gross of $1.78. The huge drop in the Eminis really spooked me though. Fortunately, everything turned out great.
How do you manage that many fills? I know it doesn't happen every day, but I'm curious to know your plan when you have a large number of fills. Do you pop up a chart for every position? Do you watch the T&S for every stock? Are you just working off your P&L? What's your technique?
Scott
I have 18 one minute charts up and ready to go before the open. As soon as I'm filled, i put the stock into a chart, then in a level 2 box, then put out an order to exit some of it at a profit. The fills were coming so fast this morning, I gave up trying to read the tape or watch quotes in a level 2. I couldn't put partial orders out otherwise I'd have so many open orders, I'd have to watch those too. So I just looked at the charts and my p/l and dumped 5 or 600 shares at a clip on some of them and the whole wad on others. Most positions were 1000-1300 shares.
As usual, I left a lot of money on the table, but the adrenaline was pumping so much at that point, I was happy to be out and just decompress.