Don's Openings, Part 6 2003

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I take full responsibility for my mistakes today. I failed the traders critical test. I failed to maintain my discipline. Took my winners too soon and did not cut my losses soon enough. Another day like today and I'll have to take a break and refocus. AGGGHHHH
 
Quote from astocktr8r:

I take full responsibility for my mistakes today. I failed the traders critical test. I failed to maintain my discipline. Took my winners too soon and did not cut my losses soon enough. Another day like today and I'll have to take a break and refocus. AGGGHHHH
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Hang in there. We all have the bad days.

If you know what you are doing wrong......

DON'T DO IT ANYMORE..!! :)
 
Quote from TonySanDiego:



Hang in there. We all have the bad days.

If you know what you are doing wrong......

DON'T DO IT ANYMORE..!! :)
More...

Good to see you back Tony...and in a good mood, as well!!

Don
 
The first 3 days this week killed me, but the last 2 days I am back on track. Still a down week which is very uncommon for me. On the bigger picture I am still up for the month so it is all relative.

Getting lots of fills these days. Anyone else getting more executions than normal?
 
OK, we're going into the final stretch with this set of bootcampers. Pretty good group...good returns on the opening strategy....which is to be expected...but I am even more heartened that they were able to adjust share size to a serious enough level where actual dollars could be made, not just consistent "pennies."

With today's volatility, the risks are much lower, and since we are only looking for nickels and dimes, the 2,000 share and above trades seem to be working (especially since the .40 rate for above 1,000 shares kicks for Bright Traders).

New group starts in January....

Don
 
Any thought on trading the openings on Monday?

I am thinking about just entering long position orders or not even playing at all.

It will be interesting to watch the futures market tomorrow.




God Bless America:)
 
Yeah, it might get a bit crazy with buyers rushing in. What's scariest is the potential for follow through buying. I'm going to watch the futures on Sunday night, as well as the overseas markets. It may be that the buying will already be peaking, but who knows.

My inclination at this point is to go with a pretty wide envelope on the sell short side, and take only those stocks that open really high. I'd look to cover those shorts pretty quickly, again depending on how the market moves right off the open.

Just speculating at this point. It'll definitely be interesting on Monday.
 
Yes, interesting indeed. One thing to consider is the likelyhood of a higher than usual fill rate. Consider how many positions you can comfortably trade at once, maybe reduce your list.

I'm anticipating a fill rate in the 20-25% range with a .9 or 1% envelope, based on past large gaps. I'll be cutting a lot of the newer stocks I'm learning with smaller size and focusing on the stocks I know well. If I'm going to have all the positions I can handle, I don't want to be distracted by something that I only have a few hundred shares in.

I'll trade it like normal though with no bias as to what 'should' happen.

Good luck
 
I'm planning on a standard opening..probably get filled on some short sales due to the "exhuberance" factor, but that's what we live for.

Heck, maybe we'll find Osama tonight as well...

Caution, Yes...Fear, No.

Don
 
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