Grinding it out, day after day

Yeah, it is.

lescor deals with statistically based trading, think something sorta inline with OPG. Prices get out of line and they revert back to a mean.

Quote from artfartdart:

is that from the ickow piece?

i was more referring to the part where he describes dealing more in illiquid securities, and watching to see if bids/offers refresh before bidding/offering with.
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Quote from artfartdart:

Opg?
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Opening orders. I think the idea is that gaps without news revert to a mean in line with the market or an index that a stock may be a part of. Mean reversion of gaps using opening orders that envelope the price at the open. I think. :)

Thanks for the update Lescor. Please shed some light on the above if you wouldn't mind. (If it is even possible without revealing specifics.)

Thanks again.
 
Quote from 5pyd3r:

Opening orders. I think the idea is that gaps without news revert to a mean in line with the market or an index that a stock may be a part of. Mean reversion of gaps using opening orders that envelope the price at the open. I think. :)

Thanks for the update Lescor. Please shed some light on the above if you wouldn't mind. (If it is even possible without revealing specifics.)

Thanks again.
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Here's the basics and even details. Not sure if Don posted the actual excel sheet , but if I can dig up my old will I'll post it somewhere.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=3334&highlight=opening+orders

There were a few firms like Bright, Echo, etc that were doing a lot of these...using an xcel sheet...just plug in the futures Prem #, the envelope etc. When I was doing it it was a bit of a pain on some days when I had to rush to get the orders in...but eventually firms had the software to autosend the orders.
I don't think too many people are using this strategy anymore.
 
Quote from lescor:

Still around, still trading every day. On pace for lowest year ever, though still better than a real job. My volume is down quite a bit, but things have been decently consistent, and I place a lot of importance on that.

Truly in 'grind it out' mode right now, waiting for intermittent flashes of opportunity and hopefully a better overall environment down the road.
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How much did you make this year? $200K??? since u stated lowest year ever? i remember that back in 2002 your first year trading you had made this amount.
 
Maybe somebody can suggest a thread similar to this one, perhaps on a different forum?

I was really enjoying reading this whilst it was active...
 
There aren't too many good trading forums besides ET. I was on Trade2Win for a while but that seemed to be more for European traders. I never knew what a trading arcade was until I was on that forum.

This was a great thread when it was active. It seems lescor got bored posting here. I guess he's not getting anything back from this community.

Quote from boba15:

Maybe somebody can suggest a thread similar to this one, perhaps on a different forum?

I was really enjoying reading this whilst it was active...
More...
 
Just finished reading this thread from start to finish, great stuff Lescor.

I have one question, as someone who also trades stocks full time, and it's the question of measuring performance.

I calculate the gross return on each trade in basis points - so a long trade entered @ 20.00 and exited @ 20.20 equals 100 BPS profit.

Likewise a long trade entered @ 5.50 and exited @ 5.39 equals a loss of 200 bps.

I have a target of 500 BPS per week, or 100 per day traded. I rarely hit this target, although I have some +300 days.

I am trading very small size at the moment, having taken a hit a couple of years ago after trading profitably for a few years.

I was wondering what sort of targets other stock traders have..... be it daily, weekly or monthly.

Thanks again for the journal.
 
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