Don's Openings, Part 5

Originally posted by Dave K
Two longs, four shorts.

two winners, four losers

I must be shorting the wrong stocks:confused:
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Hmm....perhaps your time frame is not long enough....The market didn't move much to the upside after the opening, at least not for a while. You might want to plot the stocks you had to see if they would have been winners if you had them a bit longer....or, another way to look at the openings is to "cover" the trade (at a small loss), only if you are confident that you can get back into the trade at a better price. i.e. Sell at 31.00, buy back at 31.15, sell back short at 31.50, ride the reversal.

Anyway, keep at it....it should get better for you...

Don
 
My longs ,SBC & UPS, went up a bit and then turned with the market. Though I was up a bit in both of them, I got stopped out when they crossed there open. I got a sling shot fill on my WAG short before it went down more while GM(S) and TE(S) were going up as the market was going down.
 
Originally posted by Dave K
My longs ,SBC & UPS, went up a bit and then turned with the market. Though I was up a bit in both of them, I got stopped out when they crossed there open. I got a sling shot fill on my WAG short before it went down more while GM(S) and TE(S) were going up as the market was going down.
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OK....

I would think about not putting in "stop losses" however, they tend to get triggered before a turn around to often.

Let's see how tomorrow goes...

Don
 
I had 13 shorts in about 30 seconds this morning and was crappin' my pants. Canceled about 25 unfilled short orders and got 1 long. Left boatloads of money on the table, but that's to be expected as I can't manage that many fast moving positions to well. To avoid the huge spreads that happen when you market out when the futures make a strong move, I had to scale out, "buy when you can, not when you have to".

Now I only managed 9 cents before commissions, but because I adjust share size based on share price, volatility and historic win rate, I actually made about $450 today net. That means I had a lot of size on some small winners and less size on the big losers.
 
Had a busy opening, filled on 8 shorts and 1 long...., made money on 8 for about $1200 (60 cents). The boot campers (you know who you are) had a 100% success rate today as well....with a brand new guy making .95 cents (he held GE longer than I did (10 minutes) and made extra money.

Let's enjoy these fun days.....

Back to you....

Don
 
Did my first openings this morning, put in two, C and BMY, and got filled on both!

Then I panicked! and got out waaaaayyy too soon, made .19 on C, (left .28 on table), and .08 on BMY, (left .22 on table). I didn't have confidence with the shorts because of where the futures had been trading at before the open.

Anyway, I'm happy as a clam with my 27 cents, and hope to continue learning from this great thread.

XGG
 
Originally posted by XGGTrader
Did my first openings this morning, put in two, C and BMY, and got filled on both!

Then I panicked! and got out waaaaayyy too soon, made .19 on C, (left .28 on table), and .08 on BMY, (left .22 on table). I didn't have confidence with the shorts because of where the futures had been trading at before the open.

Anyway, I'm happy as a clam with my 27 cents, and hope to continue learning from this great thread.

XGG
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Good job!. Now keep this in mind....the futures were trading up before the opening, which we take into account before entering our orders. So when we get filled, the market (spot price) is simply trying to get to the same level as the futures....so keep your eye on the futures after they open....the first "tick" is already pre-planned...the market actually sold off right after the bell rang.

Panic is never a good thing, remember it's only money!! :-)

Good job again...

Don
 
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