lescor do your records show a better success rate for the thin stocks you play or the liquid ones?what characteristics do you want to see in the thin ones?tia.
Don's Openings, Part 5
- Thread starter Don Bright
- Start date
lescor do your records show a better success rate for the thin stocks you play or the liquid ones?what characteristics do you want to see in the thin ones?tia.
Good opening....adjusted to the opening indications, filled on 9, made money on 8 (BAC caught me a bit). +1425 (71 cents).
Wider envelope (1.0)....the difference came in adjusting to the indications this morning, in a couple of cases, this stops you from buying when you should be selling (they open up, but in the lower end of their indicated range).
I'll report on the boot campers after a while.
Don
Wider envelope (1.0)....the difference came in adjusting to the indications this morning, in a couple of cases, this stops you from buying when you should be selling (they open up, but in the lower end of their indicated range).
I'll report on the boot campers after a while.
Don
Adjusted my envelope to 1.25 on the sell and 1.0 on the buy. I had 18 fills, 7 long 11 short. My screen was green for about 10 seconds and then it went red and never came back. Big losers were S, JNJ, JPM, PG, KO.
6 winners and 12 losers.
Avg winner .29
Avg. loser .34
Once again another week where I averaged 0$ on the Opens.
I guess I still don't get this game. Don trades 20 stocks, lescor has about 80. Don uses narrow envelopes lescor always uses 1%. They both make money. I made $$ over the Summer, but I've broken even or lost every week since Sept.
More than ever I'm watching news and sectors and really paying attention to anything that could efffect the opens.
I hope I eventually find my way out of the Dark Forest.
6 winners and 12 losers.
Avg winner .29
Avg. loser .34
Once again another week where I averaged 0$ on the Opens.
I guess I still don't get this game. Don trades 20 stocks, lescor has about 80. Don uses narrow envelopes lescor always uses 1%. They both make money. I made $$ over the Summer, but I've broken even or lost every week since Sept.
More than ever I'm watching news and sectors and really paying attention to anything that could efffect the opens.
I hope I eventually find my way out of the Dark Forest.
OK, here is Friday for bootcampers (in pennies, by individual, 0 for absents or no fills):
+.09, +.14, +.08, +1.10, +.14, +.58, +.99, 0, 0, 0, (2 gone today), one loser -.70 (missed the envelope discussion this morning, and used yesterdays, and did not adjust for indications....slap on wrist, but he's brand new trading only 100 shares).
+7, -1, even on 3....
I pointed out the need for consistency, not 'home runs'...you gotta take the slingshots (3 of mine were slingshots, good thing)....sure, sometimes you "coulda" made big money (IBM up 4.00, down 40 cents, then up another dollar or more)....don't be greedy, be consistent and then raise your share size.
"Cautious optimisim" about the bull today....we'll see.....we need a strong follow through today to have a chance for sustaining a rally of any sort....if we sell off completely today, look out.....
Don
+.09, +.14, +.08, +1.10, +.14, +.58, +.99, 0, 0, 0, (2 gone today), one loser -.70 (missed the envelope discussion this morning, and used yesterdays, and did not adjust for indications....slap on wrist, but he's brand new trading only 100 shares).
+7, -1, even on 3....
I pointed out the need for consistency, not 'home runs'...you gotta take the slingshots (3 of mine were slingshots, good thing)....sure, sometimes you "coulda" made big money (IBM up 4.00, down 40 cents, then up another dollar or more)....don't be greedy, be consistent and then raise your share size.
"Cautious optimisim" about the bull today....we'll see.....we need a strong follow through today to have a chance for sustaining a rally of any sort....if we sell off completely today, look out.....
Don
Decent morning.. Got filled on 3 short pretty quick, so I canceled all shorts. No fills on longs, canceled some late openers since there were some numbers out at 9:45.
BLS short +.30
CCR short +.16
COX short -.03
Coulda got a little more but no complaints.
BLS short +.30
CCR short +.16
COX short -.03
Coulda got a little more but no complaints.
Good job, Tony...and probably smart to cancel additional orders if you were concerned about reading the tape for the ones you got filled on.....
Don
Well, I end the week on a loser. I canceled all unfilled short orders soon after the open when it looked like the 'gap and go' was happening. Still got 3 shorts and 4 longs. 3 wins, 3 losses and a scratch, -.47 gross. But two of the losers were nasty, -.51 on GCI and -.47 on PEP. There was news on GCI, but none of my regular sources had it. Made it all back in about 15 minutes though on that vicious rally.
Still the second best week of the year for openings though, but that is mostly due to upping the size. I'm doing 1600 shares for my base size, but it varies widely per stock. Anywhere from 600 to 4000.
Have a good weekend
Still the second best week of the year for openings though, but that is mostly due to upping the size. I'm doing 1600 shares for my base size, but it varies widely per stock. Anywhere from 600 to 4000.
Have a good weekend
Not really seeing a big difference between the two. The biggest concern with thinner stocks is exiting in a fast moving market. When I pick stocks, the thing I want is a specialist that will let you out ok. If he just freezes the tape and waits a few minutes then prints everyone in one big gap, you are going to get a royal screw job eventually. I want guys that trend back and don't make you sit through a drawdown almost everytime. This is why I kicked HON of my list. The stock came back often enough, but it seemed like every time you have to endure pain first, and not just a couple minutes. It's really just about trying new ones and learning the way they trade. I'll be adding 5-8 new ones this weekend after thinning out the ranks a bit over the last two weeks.
Had a great day today - 7 fills and 7 winners, + 1.10. Was quick to take any profit on my shorts.
I was ignored by the specialist on two "slingshot" orders to cover shorts that should have received fills. I canceled the order after it was not filled for about 30 seconds while the ask was less than my bid. The cancel was confirmed in about 10 seconds. I quickly placed a new order to buy at a lower price and my buy was filled in seconds. Are there some NYSE rules that explain this or did my order get lost in the internet and never make it to the exchange.
TO Dave K, I was long KO on the open and it turn down quick. Held KO for a couple hours and turned a big loss into a profit. Was not about to sell KO when it was down on the day while the market making a big up move. I wish i knew why KO acted so strange today.
Good luck to all.
I was ignored by the specialist on two "slingshot" orders to cover shorts that should have received fills. I canceled the order after it was not filled for about 30 seconds while the ask was less than my bid. The cancel was confirmed in about 10 seconds. I quickly placed a new order to buy at a lower price and my buy was filled in seconds. Are there some NYSE rules that explain this or did my order get lost in the internet and never make it to the exchange.
TO Dave K, I was long KO on the open and it turn down quick. Held KO for a couple hours and turned a big loss into a profit. Was not about to sell KO when it was down on the day while the market making a big up move. I wish i knew why KO acted so strange today.
Good luck to all.
Don,
I just didn't want to be caught with half dozen short positions if the market went to ramping up.
3 or 4 on the same side are more than enough for me.
I just didn't want to be caught with half dozen short positions if the market went to ramping up.
3 or 4 on the same side are more than enough for me.