Don's Openings, Part 5

4 out of 5 winners. +700 (35 cents). Only loss was HD....wish I would of held GE a bit longer, but nonetheless, a good opening.

I've been enveloping (manually) the last couple of days, taking about 5-8 cents out. This seems to be working fine in this type of market....my brother holds for a little more profit, but he has a "longer attention span."....:-)

Nice "choppy" market, so keep tight profits, go for more "in and out" rather than larger size or more movement....at least that's how it is panning out today.

Don
 
don- i'm not totally familiar with your "opening envelopes",etc., but i have been tading 6 years and do trade gaps. for instance, this am. i bot w/limts the followin.. TXU,DGX.. these wer mhy only fills and they worked. i tried but did not get LH,SGP, and a couple others. Is this similar to your strategy, b/c i noticed you were in C and GE again..how so? also, Don't you like bigger gaps? thanks in advance.
 
Originally posted by joeystox
don- i'm not totally familiar with your "opening envelopes",etc., but i have been tading 6 years and do trade gaps. for instance, this am. i bot w/limts the followin.. TXU,DGX.. these wer mhy only fills and they worked. i tried but did not get LH,SGP, and a couple others. Is this similar to your strategy, b/c i noticed you were in C and GE again..how so? also, Don't you like bigger gaps? thanks in advance.
More...

please go under the journals column and read the opening orders threads. This is part 5

Robert
 
tharp- sorry to slow you up. however, i have tried to get the other journals and can only get to 3 and 4. once again, apologize. Don, where should i find more info on Your pairs trading?. ie. how you pick them etc. i am very interested and find this journal useful. i don't want to waste peolple time but have a sincere request. thx.
 
joey:

Click on Search from upper right on page.

Put "don's openings" in the box under Search by Keyword.

Select the button next to Search titles only.

Hit the Perform Search button.

Works for me. I just did the same thing a few days ago to read all the history. On the results page select the thread, not the post. Finally select print on the thread's first page and you will get the whole thread on one scrollable page without needing to click your way through all the posts.
 
Originally posted by joeystox
tharp- sorry to slow you up. however, i have tried to get the other journals and can only get to 3 and 4. once again, apologize. Don, where should i find more info on Your pairs trading?. ie. how you pick them etc. i am very interested and find this journal useful. i don't want to waste peolple time but have a sincere request. thx.
More...

No problem Joey, let me give you a quick overview. I place buys and sells on the same 20 stocks everyday, based on Fair Value estimates from the futures. If the market is going to open up 1 percent, I place a bid just below and an offer just above, with the intention of getting filled only when the stock opens above or below my prices. I, of course, vary the envelope size based on beta, sector,etc., and due to the opening extreme.

I hope to get filled on 4-8 orders a day, and usually make $$ about 80% of the time. This is a high probability play, that gets you "in" with a methodical system, and allows you to Tape Read to get "out."

Your TXU example is fine for really wide moves, but can be a bit more risky (I know it would have worked well today, however).

A big percentage of the total Firm's trader profits from variations on this strategy.

Feel free to PM me if you have more questions.

Don
 
5 longs, 2 shorts. 5 wins, 2 losses, .53 before commissions. Was 4 for 5 this week and will be stepping up the size again next week.
 
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