Don's openings Part 4

[Don Bright]

Originally posted by topmo



You had a BUY LIMIT at 35.39, therefore you did not get a fill because the price DID NOT TOUCH your BUY LIMIT price of 35.39.

What??

If you had a buy of $35.39, and the stock opened much lower....you should be filled. I was under the impression that IB was allowing opening only orders....perhaps "def" can enlighten us why IB may have disregarded your order this time.

def??

Don

 

[dotslashfuture]

If the opening only orders are a major part of your trading strategy, how do you prop guys spend the rest of your day ?

 

[OPTIONAL777]

Originally posted by dotslashfuture
If the opening only orders are a major part of your trading strategy, how do you prop guys spend the rest of your day ?

Why, naturally Don will say "counting our profits." Would you expect anything less from PT Barnum?

 

[Don Bright]

Originally posted by dotslashfuture
If the opening only orders are a major part of your trading strategy, how do you prop guys spend the rest of your day ?

Unlike my marketing assistant above, we can actually count,....and do actually have profits.....but that is not the answer.

The openings provide us with the first and most highly probable orders for the day....then we switch to "sector trading" for the Post opening, pairs trading for the bulk of the day, and at all times utilized the 7 basic strategies, including RS, Momentum, and MOC's......

Don

 

[Free Thinker]

"I was under the impression that IB was allowing opening only orders....perhaps "def" can enlighten us why IB may have disregarded your order this time."


ib open orders work fine.ive never had one not fill.

 

[metooxx]

Originally posted by Don Bright


Unlike my marketing assistant above, we can actually count,....and do actually have profits.....but that is not the answer.

The openings provide us with the first and most highly probable orders for the day....then we switch to "sector trading" for the Post opening, pairs trading for the bulk of the day, and at all times utilized the 7 basic strategies, including RS, Momentum, and MOC's......

Don

What did you do to piss off your MA?

 

[Don Bright]

Originally posted by metooxx


What did you do to piss off your MA?

It's funny, I really don't know....at times his comments are actually kind of funny, but he (she) has been hostile for absolutely no reason that I can figure. He has helped considerably by allowing me the opportunity to show some restraint and common sense in the face of his silly rhetoric.

I have offered to discuss anything at any time with him (her) on a rational level....but to no avail. The PM's and emails of support have been a tremendous boost for our business, and always provide good "ice breaking" jokes for my presentations. The people in Denver loved hearing about the "fun" on the board.

Don

And BTW, thanks for the good comments on the other threads!!

 

[MartinWeinberg]

Originally posted by dotslashfuture
If the opening only orders are a major part of your trading strategy, how do you prop guys spend the rest of your day ?

Openings usually close out within 15-20 minutes.

After that, I play setups based on overnight research and scans. Since I don't enter these positions until 10 AM EST, it dovetails nicely with the Openings.

Setups usually last for about 2-3 hours until they're all closed out. Then it's channel plays for lunch and/or scalping in the afternoon.

 

[egusc]

IB has open only orders. I have an account at IB and only on one day have my orders that should have been filled not been executed. I have been checking every day since and IB is working just fine.

"He has helped considerably by allowing me the opportunity to show some restraint and common sense in the face of his silly rhetoric. " I agree, your restraint has made u look very good.

Don, Thanks for all of your input here inspite of the peanut gallery.

 

[rtharp]

Originally posted by topmo



You had a BUY LIMIT at 35.39, therefore you did not get a fill because the price DID NOT TOUCH your BUY LIMIT price of 35.39.

Market doesn't have to touch.............

It has to trade at 35.39 or below and he is automatically filled for NYSE stocks.

Robert