Don's openings Part 4

Well today was a good day. This strategy is not like it was a few months back. The winners are not running as far and a few big losers are moving very fast and erasing profits. My opinion is that the specialist is not helping as much as they use to. Its all about trading skills and discipline.

While Don is still kicking butt with the open orders, even his profits have gone down. What Don seems to do best is avoid the big losers. I guess that is his tape reading skills.

Today 6 fills(all long), 5 winners. net of .80. The loser Kraft.

Good luck
 
Originally posted by lescor
I had 6 longs and 7 shorts on about 65 stocks. 3 losses and a scratch, the rest were winners. Made $1.03 before commissions.
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Good job!! Great winning percentage!!

Don
 
What a disaster.

I have been tweaking my opening orders criteria. Picked a fine day to do the first run.

I had changed my spreadsheet around quite a bit, and lo and behold, I messed up a cell.

Started to get shorts and longs all over the place. Had an anxious moment (panic) when I couldn't get my open orders closed. Had the wrong tab open in the order entry window.

Thank heaven I got them mostly closed out before I got crushed.

Thank heaven I had also taken a bunch of defense and oil stocks off the board too, or I would have been destroyed.

BUT...... I missed LLL. :(

Got 4 shorts and 3 longs before getting things shut down. For me, that is a BUNCH.

If I had let my shorts run, I would have made out fine.. but I didn't know that at the time... and clear analytical thinking was not the order of the day this morning.

Shorts:
GE scratch at .00
S +.50
NKE -.05
AIG +.43

Longs:
MCD -.24
HI -.19

and...... LLL for -1.50

see the chart. :eek:

Yet more tuition in the school of titanium coated hard knocks. :(
 

Attachments

I debated taking defense off my list before today's open because they were down pre-market on the iraq news. Didn't do it and took a loss in RTN, but got out quick, not much damage. I did take all oils off the list though.

I had HI and COF long, dumb me didn't realize the connection to the ACF news. Lucky to get a few pennies out of HI, but COF was my only real loser, -.35. Also noticed the news in MCD right before the bell and canceled him. Once again, it paid to take the news stocks off.
 
OK, we're going in with a wider buy envelope (1.0), and a narrow sell (.65). Modifying banks and oils.....look out for BMY as well (upside potential).

Tony: "Bummer, Dude!"....don't know what to say about it....learning exercise...be sure everything is working properly today.....sorry...

Back to you in a few...

Don
 
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