Don's Openings Pt. 2
- Thread starter Don Bright
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30 and obove is good...we're looking for actual profits, not just percentages...same criteria that we use for our basic trading stocks.
Don
My unofficial guess is that about 20% who try it seem to find it valuable at this point....My biggest concern is the delay time, which can be a liftetime when trading.
We'll find out more in a few weeks, and I will poll the traders.
Don
Originally posted by cashonly
Don!
You've become a remote trader!!! Let me mark my calendar!
This is tougher than I thought, and I have all the goodies: cable modem, wireless internet, dual screens, etc.
My dog keeps coming to me wondering what the hell I'm doing home...."get a job, ol man".......
Anyway, doing ok.....back to you soon!!
Don
My cheapest stock is emc at 8 bucks, up to mmm at 130. I adjust my share size accordingly. I definitely get more fills on the low dollar stocks, but if they yeild a positive expectancy I'm happy to take it. My most consistent winner is under $20.
Today was my best day since starting oo's, 4 wins and a scratch for $1.64 before commissions.
Corey
Small $$ on WMT....back in it tomorrow.
Don
Don
I always use 1% irregardless of how the market is poised to open because my fair value numbers already account for any gap. I'm starting to adjust the envelope per stock for some of them. For instance, I haven't been filled on IBM in 3 months, and have only had one fill on MMM, so I'm going to try .9% on them for a while and see how that goes. I have some stocks on the other extreme that I go out to 1.5% on and a couple that I use .6% on. I think if you keep good records on all your stocks and fills, you can start to refine your system to this level to increase profits.
Today was ok. Two fills, two small wins.
Today was ok. Two fills, two small wins.
Maybe this has been adressed already, but I don't remember reading it on any of the two threads on this topic ( I went through the first one on the weekend).
The opening strategies discussed here seem great and apparently work fine on NYSE issues, but why not try them on NASDAQ as well. On NASDAQ we can see ahead of time exactly where the stock is going to open and so you would only need to place an order for one side, rather than both long and short orders, thereby minimizing the required buying power and also eliminating the problem of a broker that won't allow you to place two opposing orders simultaneously. I realize that there are no OO orders on NASDAQ, but if I am manually sending my orders myself right at the open wouldn't I be able to simulate similar results compared to trading on NYSE (price improvement aside of course).
The opening strategies discussed here seem great and apparently work fine on NYSE issues, but why not try them on NASDAQ as well. On NASDAQ we can see ahead of time exactly where the stock is going to open and so you would only need to place an order for one side, rather than both long and short orders, thereby minimizing the required buying power and also eliminating the problem of a broker that won't allow you to place two opposing orders simultaneously. I realize that there are no OO orders on NASDAQ, but if I am manually sending my orders myself right at the open wouldn't I be able to simulate similar results compared to trading on NYSE (price improvement aside of course).
"I realize that there are no OO orders on NASDAQ, but if I am manually sending my orders myself right at the open wouldn't I be able to simulate similar results compared to trading on NYSE (price improvement aside of course)."
do a search on oo orders and read up on it.you are missing the whole point of the stradegy.
do a search on oo orders and read up on it.you are missing the whole point of the stradegy.
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