Don's Openings, Part 5

One fill.

SO long +.15, cheated myself somewhat today. I am trying to hold for better exits, but the action looked iffy to me this morning.

We'll do better tomorrow.
 
Got greedy myself, Tony...."shoulda" made $570 on TXN, but settled for $200 on the pullback. TXN was the only fill this morning.

Back to it tomorrow...

Don
 
BAD day at black rock.... :(

7 Fills in all.... blessed with a bit more than I could easily handle.

SBC long... +.02, after not getting the +.20 I should have.. lesson, use the slingshot exit when they come at you fast and furious..

STM long... -.04, this one is getting a permanant wide gap from now on.

NAV long... +.33, saved the day

BAX long... -.05, put a news gap on it, got it anyway, got rid of it quickly when it didn't jump right up.

CE short... +.20, did put the order out ahead of time

MET short.. another news gap that got filled, tossed it immediately

and then.....

MBI short... wasn't going to mess with it much, it didn't fall right away so I went to buy to cover. Well, I got the buy/sell part right, but I kept hitting the bid price instead of the offer price, then by the time I realized my error, bam.. gapped it .50, so.. I tried to hit that offer and... bam, gapped it another .25. OK, I didn't totally panic, I put an offer in back at the .50 gap price. Got filled in a bit.

long story short.... -.50 and a total wipeout of a decent morning.

Lesson: CALM DOWN... :eek:
 
Quote from Don Bright:

4 for 4 today, + $1120 (56 cents). .9 envelope, zero FV. for March Spoo..

Don
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Amazing, isn't it.

If one were to follow your daily trades, knowing nothing, they would come to the conclusion that day trading is the easiest thing in the world, and that success is virtually guaranteed if one simply follows the Bright OO method on the NYSE.

Difficult to explain why so many fail, isn't it.

Could it be that Bright just brings people who can't follow directions into the fold?

I would think there would be some way to screen potential traders ability to follow simple instructions....we ain't talking brain surgery or rocket science, are we?
 
I think it is funny that some people think that they can pay $1k and go to a one week "boot camp" and expect to be able to handle Opening Only trades even remotely close to Don. This guy has been trading since before many of us were born.

Fundamentally, the strategy makes sense. The problem with implementation (at least for me), is that all too often you will get shaken out of a good trade right before the stock makes its move. Don has the experience, confidence, and money to be able to sit through the shake-outs.

There is no easy path to success in trading.
 
Quote from daytr8r:

I think it is funny that some people think that they can pay $1k and go to a one week "boot camp" and expect to be able to handle Opening Only trades even remotely close to Don. This guy has been trading since before many of us were born.

Fundamentally, the strategy makes sense. The problem with implementation (at least for me), is that all too often you will get shaken out of a good trade right before the stock makes its move. Don has the experience, confidence, and money to be able to sit through the shake-outs.

There is no easy path to success in trading.
More...

The reason they think that is easy is because they are "led to believe" it is that easy by Don.
 
I agree to a certain extent. Don uses catch phrases like, "high probability", "back to normal" after a losing day, and "quick and early today"

I can see how some people may be misled to believe that this method is "quick and easy". But these are the same people that are buying John Wu's secrets to success infomercial. If you don't do your homework in trading, you will get crushed.

I'd bet that anyone that has become consistently profitable using this strategy, had to work long and hard to get to that point.

Sometimes I see this thread as educational, other times I see it as a never ending infomercial.
 
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