Don's Openings, Part 6 2003

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Double ho hum...

Didn't get a single fill. Partially my doing, I realized half way through my opening orders placement that I had......

PUT IN OVER A HUNDRED..... DAY!!!!! ORDERS.... :eek:

Quickly cancelled them, but I didn't have time to get all my opening orders in.

The rest of the morning has be ok...

BLS +.02 very slow market before the moment of silence.

HAL -.03
LOW +.17
AXP +.04
BAC +.07, and screwed myself out of .20 more. Gotta learn to deal with the "wiggle"
 
Had a good one this morning. 14 fills, only 2 short. The total was $1.38. It works out to just under 10 cents per trade. No big winners, some were decent, but it was just the lack of losers that made it work today.

As for news stocks, they've tended to work out better for me than not. LLY was just getting pummeled in the news last week, but on three days, the opens were worth just under $1.50 on that one alone. I will often reduce my size on them if I feel the news is significant, but it has been better for me to keep them in play.
 
Quote from DaveN:

Had a good one this morning. 14 fills, only 2 short. The total was $1.38. It works out to just under 10 cents per trade. No big winners, some were decent, but it was just the lack of losers that made it work today.

As for news stocks, they've tended to work out better for me than not. LLY was just getting pummeled in the news last week, but on three days, the opens were worth just under $1.50 on that one alone. I will often reduce my size on them if I feel the news is significant, but it has been better for me to keep them in play.
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Good Job Dave!! Remember in class when we talked about the .25 on 2000 shares per day in profit would net us over $100K per year? Now, with the lower prices of stocks, we can easily do 5000 at only 10 cents per day for the same result....(Gotta be a little more cautious when they move against you, obviously).

Anyway, keep up the good work!!

Don
 
Don,

Yes, I do remember. Based on my list and historical performance, there are only a handful of stocks that I'd be comfortable doing that sort of size on. Those few I have sized up pretty nicely in my program. I'm torn between just focusing on those, and opening all of the remaining 88 stocks, which have been giving pretty good results as well.

I could see advantages of doing either, and if possible both. I guess that's the next step... :)
 
An envelope of .15%... wow. That ain't an envelope at all. :eek:

If my calculations are correct, that is .06 on a $40 stock. Is this correct? No wonder you get 40 fills. :)

Hey, if it works, can't knock it.
 
Friday, only KRB for a dime. And thanks to DaveN for sharing his (advanced) mehtodology. I think he would agree that newer traders should "grow" into this strategy, and over time, as their success rate becomes stable, then increase number of stocks or share size.

Everyone have a great weekend.

(Plug coming). Don't forget to listen to m brother and I every Saturday on the Web by clicking on our website at Noon Pacific, 3PM Eastern time. Please call in with any questions.

You'll get a free 1 year subscription to Stocks and Commodities when you call in. You can also instant message at: donbright@aol.com during the show.

Don
 
I wish I had got nothing....

Got 2 piddly losers, Raven worked correctly and took me out of both faster than I could.

USG -.05
SNE -.04

and ... the rest of the story......

BSX -.02, but darn it, if the market would have given me just a tiny bit of help a little bit earlier, I COULDA BEEN A WINNER.. just couldn't stand the "wiggle" with it with the market flatlining near the bottom of the day. :( This probably was a poor out, since I had help a few cents away.

BLS -.02 bargain hunters killed my short, along with the market turning up (finally).
WMT +.15
FRE +.10

Now I am off to slay dragons in the rocket business.
 
Quote from Don Bright:

Ho Hum....oh well, got IBM this morning (a "news stock"), made a quick $480...Hope everyone is doing ok.....Let's trade well, and remember the moments of silence.

And, get your mind out of the gutter, at least we didn't use "orifices".....which is only appropriate on certain bad days.

Don:D
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$480...Sure, not something to sneeze at for the new guys you're teaching. What amount of capital was put to use to make the $480? Just curious.

I shudder to think any day could justify using "Don's Orifices." :p
 
Hi Icarus.

When you ask how much capital was used to make $450, are you trying to discern risk/reward? i.e. if you are putting on $100000 worth of stock risk to make $450 then maybe other methods might be better for new traders due to risk involved? Just curious
 
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