Don's Openings, Part 6 2003

[Don Bright]

You should be able to put in both sides (even with IB as stated above)....the real problem is, of course, the capital usage required to make any money. 20 stocks, 2000 shares (buy and sell) = 80000 shares ($2-3 Million of "usage" not "risk" for obvious reasons).

Be careful with the 2 account approach and the "pair traders" (long and short) approach.....looks real appealing, but there are universal limits and restrictions that apply.

Good Luck, trade well....

Don

 

[cashonly]

I got no fills today.

I used a .85 envelope and I think that was too wide for this morning.

Cash

 

[Don Bright]

4 for 5, only $100.....got a bit stuck in CCU.

Don

 

[swtrader]

2 fills

1200 each, 14 and 25 cents

$468 (minus comm)

 

[swtrader]

no fill, .09 envelope, dang

 

[cashonly]

No fills today on a .71 envelope!

What's it gonna take to get filled!

 

[Pasternak]

Quote from cashonly:

No fills today on a .71 envelope!

What's it gonna take to get filled!

1. Too many doing OO (20 new traders doing OO in any stock will have an impact on the imbalance, even IBM)
2. Less volatility
3. Less institutional participation
4. Low volume
5. No dumb money anymore

 

[jester]

......I couldn't agree with you more....you hit it on the head....(and now a rebuttal from Don).........

J-

 

[daniel_m]

what are you trying to say pasternak?

that the number of people using a certain strategy tends to take away its edge? that the OOs aren't the royal road to riches they're flogged as?

:eek:

 

[Pasternak]

Quote from daniel_m:

what are you trying to say pasternak?

that the number of people using a certain strategy tends to take away its edge? that the OOs aren't the royal road to riches they're flogged as?

:eek:

I'm not sure if you're being ironic...... come on.....we're all fighting to get filled in the same 100 stocks....forget the rest of the 2000 NYSE stocks....