Don's Openings, Part 5
- Thread starter Don Bright
- Start date
I've been putting a lot of time into some new strategies lately and have had to cut back on the daily posts to this thread. But in the interest of continuity, here are the stats of the last two weeks:
Oct 25: Grossed $0.54 34 fills, 16 wins, 14 losses, 4 scratches, 53% win rate, -$791 net. First losing week in 10.
Nov 1: Grossed $2.44, 34 fills, 21 wins, 10 losses, 3 scratches, 68% win rate, $1739 net.
One important sidenote, I've been tweaking my macro that sends the orders automatically and have had some costly problems some days. Not getting all orders in, or sending incorrect prices or market orders for some stocks. An easy $2000 could be added to the above numbers if not for that. Such is the cost of innovation I guess.
For the month, the avg win rate was 64%, grossed $11.62, netted $13,300 on 564,000 volume. Net cents/share=2.4
My average size per trade is around 1400 shrs. It varies per stock between 800 and 4000.
Have a good November.
Oct 25: Grossed $0.54 34 fills, 16 wins, 14 losses, 4 scratches, 53% win rate, -$791 net. First losing week in 10.
Nov 1: Grossed $2.44, 34 fills, 21 wins, 10 losses, 3 scratches, 68% win rate, $1739 net.
One important sidenote, I've been tweaking my macro that sends the orders automatically and have had some costly problems some days. Not getting all orders in, or sending incorrect prices or market orders for some stocks. An easy $2000 could be added to the above numbers if not for that. Such is the cost of innovation I guess.
For the month, the avg win rate was 64%, grossed $11.62, netted $13,300 on 564,000 volume. Net cents/share=2.4
My average size per trade is around 1400 shrs. It varies per stock between 800 and 4000.
Have a good November.
LimitDown
Don has already stated 2000 shares is his norm
and won't disclose specifics on which stocks. We just get tidbits from time to time. The strategy wouldn't be productive though is everybody on Elitetrader place envelopes on his stocks.
Stock_lover
Good for IB! Will they let you guys put in both sides of the orders, and will they calculate "margin" on both sides?? I think they have to, which is a bit of a concern (kinda hard putting in 40 orders or so with full margin). Our average is around 10-20 percent fills, on one side only which equates to 5-10 percent of the orders being filled, which will make cancellation fees pretty costly. For envelopes, we have about a 3-8 percent fill rate that seems to be making good money.
I'm just saying this to be sure that some of our friends here don't go off and start using automation recklessly, and get a big hit in fees or something.
Be selective, use narrow evelopes, and this will be a great tool. Are they charging for "outs" on the opening only's? Probably not, I would assume just the cancellation of day orders. Is there a charge for "billable" orders (in more than 5 minutes?).
Just curious, "gotta keep our edge" intact, lol!!
Don
Be selective, use narrow evelopes, and this will be a great tool. Are they charging for "outs" on the opening only's? Probably not, I would assume just the cancellation of day orders. Is there a charge for "billable" orders (in more than 5 minutes?
dont know these answers yet don.
dont know these answers yet don.
my understanding is that API extra costs at IB are for direct routing requests, instead of auto routing.
that move surprised me though.
on the hand, since it's not that difficult to enter the open orders manually. OK, a bit of work, but if you don't have to pay for it.
also, I think the exit is best handled manually.
do you continue with envelop trading after the open ?
that move surprised me though.
on the hand, since it's not that difficult to enter the open orders manually. OK, a bit of work, but if you don't have to pay for it.
also, I think the exit is best handled manually.
do you continue with envelop trading after the open ?
IB does not charge extra for billable orders.