Don's Openings, Part 6 2003

Don Bright · Dec 23, 2003

Quote from danjos:

Just want to made another case of OPG.
It has been working for me. It is just that there are times when this strategy not working and there are times when it is working extremely well (10 fills today: 1 loser only). Interestingly, usually if it happens consecutively.

Also, I am not sure this is a good idea to teach a beginner. The swing could be big and basically you are finished by 09:35-09:40.
If I am down on OPG using a big share size (e.g. 2000), I would feel very miserable if my normal trding size during the day is only 200 - 400 shares. It means that it's beyond my normal trding capacity to make back the losses and I need to wait for another trading day for OPG again and hopefully can make back the losses.

I don't understand why Don would urge his bootcamper to trade 2000 shares plus considering the above factor.
And why Don himself only trade 2000 shares? Could you explain this Don?I think with TXN with average daily volume over 10 millions shares, you can trade 5000 or more shares easily

Thanks
danjos

I trade the small number of shares to set a "real life example" for my new traders, boot campers, and those in other offices who are still new to trading. This is a number that is a beginning standard of sorts, and yet allows enough real money to make a good living.

Don

Don Bright · Dec 24, 2003

Slow Christmas Eve.....Just 2 fills....+92.

Have a great Holiday everyone!!

Don

SethArb · Dec 24, 2003

did you suggest anyone trade MCD this am

for a possible pop after the open?

what might have been your envelope setting for OPG bid via NYSE to buy shares?

$23.50 , $23.25 , $23 ?

Don Bright · Dec 25, 2003

Quote from SethArb:

did you suggest anyone trade MCD this am

for a possible pop after the open?

what might have been your envelope setting for OPG bid via NYSE to buy shares?

$23.50 , $23.25 , $23 ?

I actually widened to a .4 envelope on the 24th. We, of course, didn't recommend any of the "beefy type" stocks via our morning chat.

Don

Don Bright · Dec 26, 2003

December 26th, pretty slow but ok.

Two fills only...HPQ and TXN Up 8 cents...$169.

Don

Free Thinker · Dec 26, 2003

be careful in las vegas don they are after you.

U.S. government officials said yesterday they believe some of the passengers boarding one of the three Air France flights from Paris to Los Angeles that were canceled this week because of security concerns might have intended to hijack it and crash-land in Las Vegas or another city along its flight path.

http://www.washingtonpost.com/ac2/wp-dyn/A30985-2003Dec25?language=printer

astocktr8r · Dec 26, 2003

Quote from Don Bright:

December 26th, pretty slow but ok.

Two fills only...HPQ and TXN Up 8 cents...$169.

Don

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Was a little wary of trading on a thin day but worked out o.k. 14 fills, 2 losers, 1 break even.

For the week was positive everyday. Tuesday was my best day ever so it made for a Merry Christmas.

AOL_9.0 Man · Dec 26, 2003

do these things actually work?

anybody figureed out how to automate this?

anybody willing to share that automation process?

garyk · Dec 26, 2003

Yes this works - part of the time.

Yes, it probably has been automated, if done right it would probably make it work more of the time.

No, nobody's willing to share that. I expect that people will share with me the basic principles and the occasional tip, but building the foundation (ie, putting together all the detail of how I am going to trade the strategy) is up to me. I would not expect someone to hand it to me on a platter.

BTW, I'm not there yet. But working on it.

Don Bright · Dec 26, 2003

Quote from AOL_9.0 Man:

do these things actually work?

anybody figureed out how to automate this?

anybody willing to share that automation process?

We've been automating this, in various ways, for years...

Don