Don's Openings, Part 6 2003

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Quote from docarzt:

Is there a possibility, that the specialist doesn't execute a oo-order?
Today I had a buy oo-order for TIF with a limit at 25.30 and it opened at 25.25 but my order wasn't executed.
I am definitely sure that the order was active I even saw it turn red after the stock was opened.

for this one I'm glad it didn't execute, but I had the same problem a few weeks ago and this would have been a big winner.
Since then I monitor my orders carefully.

I use IB.
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I would direct this to "def" if he is lurking around. Perhaps the order wasn't in soon enough, or perhaps there was a problem with the routing. It is my understanding that IB does (most broker don't) allow these orders. Be sure the order did not exceed margin requirements or your personal "profile" ( I'm sure you checked that already, just trying to help).

DEF?? any thoughts?

Don
 
Quote from NYNY:

Upped my positions to 800 shares.
9 fills
4 winners
was down a e few hundred but a few stocks came back around in my favor. Managed to squeeze out $81. (.10 net)

With the market opening down .6% and me having a .8% envelope I got filled on 9 shorts. Basically if a stocked opened flat I was getting short. I have to widen my envelope a little.

But again today was a good learning experience. Its all about getting the proper thought process.
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You're doing well....keep up your consistency, and move the share size up slowly. I don't want to read (in the future)...."I did so well, and then I got killed in one day" (due to excessive size).

It seems that you're going about this in the right way (I wish all my traders did)....

:)

Don

PS...I had no fills, 2 days in a row....I will "tighten up" tomorrow....
 
Quote from Don Bright:



I would direct this to "def" if he is lurking around. Perhaps the order wasn't in soon enough, or perhaps there was a problem with the routing. It is my understanding that IB does (most broker don't) allow these orders. Be sure the order did not exceed margin requirements or your personal "profile" ( I'm sure you checked that already, just trying to help).

DEF?? any thoughts?

Don
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To be honest I have no clue. There could be a number of factors but without details of exactly when and how the order was entered, I couldn't say. Perhaps it was just our black box saying - DON"T DO IT - BAD TRADE :). Given that is unlikely, if it happens again, send full details of the order to the help desk. They'll research the audit trail and either point out what was done wrong or if they don't see anything that was wrong, esculate the issue to programming.
 
Thanks all!

I will modify my software to alert me immediately if this happens again.
Next time it happens I will contact the help desk.
 
7 fills, 4 winners, 3 losers....minus $700 for the morning....with school here....bummer....it happens.....got a bit stubborn with LEH.....

Back to you tomorrow....

Don
 
Back to normal, athough small. 2 fills, 2 winners ...up $800.....txn short, leh long.

This was "textbook" for two reasons. Even though we had a bid "down" opening, I was filled on the short sale of TXN, which then went straight down. Secondly, the large "gap" was exaggerated in many stocks, with a nice rebound. I "coulda" had a smaller envelope (and more fills)....but we did ok....made up for yesterday.

Don
 
Quote from Don Bright:

Back to normal, athough small. 2 fills, 2 winners ...up $800.....txn short, leh long.

This was "textbook" for two reasons. Even though we had a bid "down" opening, I was filled on the short sale of TXN, which then went straight down. Secondly, the large "gap" was exaggerated in many stocks, with a nice rebound. I "coulda" had a smaller envelope (and more fills)....but we did ok....made up for yesterday.

Don
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Hey Don did you adjust your env for LEH. I think they had some news out.
 
Don,
Do you only do opening orders during the trading day? Do you trade anything else during the actual trading day?? Maybe a little fre-fnm, aol or pvn, what do you do these days. Hows bootcamp??

Inmate451
 
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