Don's Openings, Part 6 2003

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Fizzle... sput..sputt... cough.. poof

RD scratch
BP -.03

Got em long on the open, got out when I saw the sells lining up.


And.. in other news

PFE -.02
KO +.08
PEP .00
WMT -.01
MRK .00
STM .00

I am setting out my covers at .10 - .12 away, but they just aren't getting there, then I have to cover with tiny gains or scratches.

My timing is still a bit off the mark.. hesitation..., the bane of my trading.

Thanks for the kind words Don.
 
Quote from vhehn:

"and we have a whole new group of stocks to add when the AMEX starts doing OO's for Nasdaq stocks. "

don are the rules going to be the same as nyse for this? how will they arb it with the naz already trading before the open? when is this supposed to start?
More...

I'm gettin' ahead of myself a bit. I'm meeting with the AMEX people in 2 weeks (in my office) to discuss all this. I'm sure it will take at least until the first of the year. I'll keep you all posted as things move forward..

Don
 
Quote from TonySanDiego:

Fizzle... sput..sputt... cough.. poof

RD scratch
BP -.03

Got em long on the open, got out when I saw the sells lining up.


And.. in other news

PFE -.02
KO +.08
PEP .00
WMT -.01
MRK .00
STM .00

I am setting out my covers at .10 - .12 away, but they just aren't getting there, then I have to cover with tiny gains or scratches.

My timing is still a bit off the mark.. hesitation..., the bane of my trading.

Thanks for the kind words Don.
More...

I've been trying to get everyone down to 6cents (4.5 for them, 1.5 or less in fees, etc.) ...keep the consistency up....then increase share size as comfort level increases. The stocks are lower in price, the volatility is way lower, and (in our case) the per share costs are much lower over 1000 shares. Bootcampers should be doing 2,000 minimum on the openings by the time they're done (as long as they are consistent).

Don
 
Increased my envelope because of the strong futures. No fills. :(

I've been away for a few days but I agree with you guys about September being a bad month for openings.

August +$2383
September -80

I've been experimenting with gap envelopes during the day using Echotrades predator pro. Essentially it is close to the same strategy as o/o during the trading day, looking for stocks that are gapping and playing the fade. August +$306, September +$824. Any other echotraders having any luck with it?
 
A real snoozer.. literally, I overslept and missed the open.

Then made up for it by missing the morning moves.

AIG -.05

USB +.01

USB +.07

And that is that.. off now to design rocket motors.


:cool:
 
Quote from astocktr8r:

Increased my envelope because of the strong futures. No fills. :(

I've been away for a few days but I agree with you guys about September being a bad month for openings.

August +$2383
September -80

I've been experimenting with gap envelopes during the day using Echotrades predator pro. Essentially it is close to the same strategy as o/o during the trading day, looking for stocks that are gapping and playing the fade. August +$306, September +$824. Any other echotraders having any luck with it?
More...

how does "predator pro" operate ? (i understand enveloped, just interested in the particulars of teh software)
 
astocktr8r,


I was using PP for enveloping in late Jun - early Jul. I stopped because I could notice a difference with the NEW users in PP in the market. My fill rate during the day with envelopes obviously dropped significantly with everyone doing it.

I was enveloping 50 stocks, but I would manually exit my trades rather than using the automated software. I found that my list was different from those using the automated exits. I knew my specialist and found the a.k.a. TUFF specialists TO be the most profitable because I would not get shaken. You can tell the specialists that FILL the envelopers, THEN print against them a few times just to have them cover for a loss, AND then reverse.

From Jun 30th - Jul 17th I was NET $1,760.00. Yet, I found the method was distracting myself from my other trading. I recommed keeping daily records on your stocks because stock selection (like in OOs) is KEY for success.

I would bet that the intial SHOCK on the market of ECHO Predator Pro traders flooding the specialist with orders would be diminishing.

All the best
Patrick
 
Basically, any of the basket managers (Redi), PP for enveloping, PairCo spread sheets, Fix protocol spread sheets with automation, older Active-X programs that we have, all work pretty much the same.

You can send in multiple orders based on "outside markets" NBBO, bid/ask, auto updates, quick cancels....all pretty much the same....

The difference is the trader and the marketplace.

Back to basics mid-day, envelope your "children" your basic 2 or 3 stocks, use quick update bar to move away from offers and bids, get 20 fills per day or so, make those nickels and dimes.

Have a good weekend everyone!

Don
 
Ho hum....

No fills on the open.

I am not going to reduce my envelopes just to get fills. I believe there is a threshold beyond which, you get as much random movement as anything else, and lots of adverse fills in that area.

And in other trading.

No green.....

WM -.03
BP -.08 across 4 trades...
HD -.02
PEP... 00 cost a bullet
JPM -.02 this was a genuinely not good entry.

Gads...........

:confused:
 
Hi Tony,

I too am going to stick with my original envelope width. I noticed last month I tightened the envelope TO increase the fill rate. BUT the success or win rate sucked.

GOOD to know, another trader is thinking the same.

All the best,
Patrick
 
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