Don's openings Part 4

No fills today. Went back and looked at where things opened.

Seemed to me that I could tighten my envelope, but... I noticed I got as many adverse fills as good ones when I did that.

I am going to really study my criteria this weekend, see if I can come up with a better mix. I am going to try to tweak my numbers to better reflect the individule stock's action.
 
Originally posted by TonySanDiego
No fills today. Went back and looked at where things opened.

Seemed to me that I could tighten my envelope, but... I noticed I got as many adverse fills as good ones when I did that.

I am going to really study my criteria this weekend, see if I can come up with a better mix. I am going to try to tweak my numbers to better reflect the individule stock's action.
More...

Tony, we had a pretty successful opening on Friday. When you see the SPU's opening within 5 points of fair value, then use a small (.6-.7) envelope, when they are more than 10 points away, then widen out to 1.0 (never more than that.....use your head for numbers in between. My "brand spanking new" team of 12 had overall success the last week (although I have them doing small shares, just looking for consistency). They making about .10 cents on the opens, and should be doing better soon when I get them doing more orders on the automation.

I am telling you this because I don't want you to get discouraged, keep plugging away!!

Good Luck...

Don
 
Thanks Don,

No problem. As with everything else, the more you do it, the better you get.

I am throwing out some stocks, adding a few with characterstics I like better, and adjusting some of the numbers on the rest.

I go back every day and look at all the opening orders stocks to see where I had near misses, both good and bad, and see if I see any consistancy of patterns. Also, I look find things I definitely want to avoid.

Yeah, this business is a lot of work. Especially when one is just starting out.
 
Speaking of caution re: 9 -11, this Friday is the 13th. Using Sept 11 was cute enough, but I'm "holding my breath" until the weekend. I don't want to see us relax after Weds only to be attacked again Fri.

...just a thought.

:( :mad:
 
Actually, you want to be alert as soon as 9/10 at the end of the trading day, due to time zone differences.

I have no opinion on wether or not something will happen, probably nothing will happen, but the sub cells uncovered these last 2 weeks planned attacks for the 9/11/02, and the targets were not in the US.


OHLC
 
No fills again today. But would have had a dandy in HIG, but it opened nearly 15 min late.

How long do you guys give them to open before you do a manual cancel?

AXP also would have been nice, but it had news and was off the list. Lesson.. look at the ones with news... might get some really nice buy/sell points AFTER they open.
 
had 4 fills this morning, made .25 even with having bhi shake me out for .50 right after the opening. came back two minutes later, i always cut my losers intraday extremely tight. need to work on my exits with the opening only trades. any opionions on exit strategies pertaining to openings?
 
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