How does "Market Open" affect your trading

Quote from lescor:

The spot price, or S&P 500 cash, is just where the index closed the previous day. Every financial website and data feed will have this. For futures you will want to use the emini, contract symbol ES. If you are relying on delayed data for this, your prices could be off significantly by the time the market opens if the futures have moved even a couple points. You should have real time ES prices, from your execution platform or charting service.

Like I said, there are lots of ways to trade once you're in. This just gives you an entry, after that it's all you. I submit orders from the same list of stocks each day. The number of fills will vary day to day, some days maybe 20% of orders are filled, some days none. This could be an insurmountable hurdle if you are trading in a retail account. You do not know how many positions you are going to have and how much capital it will require. Most retail brokers will count every open order against your margin, so you could run out pretty quick. It can be a very capital intensive strategy, which is why it's best suited to prop accounts.
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Here is SP500 FUTURES but not real time...
http://www.bloomberg.com/index_americas.html
 
Correct. With those numbers, the market would be opening virtually unchanged. Keep in mind though that you are essentially trying to predict where the market will open at 9:30 based on where the futures are trading. Therefore you would probably want the most up to date prices and wait as long as you could before sending your orders. Futures could easily move a few points between 9:15 and 9:25. That might not seem like much, but it could be the difference between getting 1 fill vs. getting 10 fills.
 
Quote from lescor:

Don't feel bad, I submitted orders on 433 stocks today and got filled on two. Just ultra dead this week.
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Would you like to "co-author" a "Don and Lescor's Opening Only Plus" thread for 2007?

Don
 
Don,

You didn't respond to the comment asking whether this was something you taught in your bootcamp...

Do you have greater details available as to what you get into in the bootcamp?

Mike
 
Quote from jazzsax:

Don,

You didn't respond to the comment asking whether this was something you taught in your bootcamp...

Do you have greater details available as to what you get into in the bootcamp?

Mike
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We definitely do openings during bootcamp, it's nice to have new traders feel confident early on. We are focusing a lot more on Pairs and other arbs + automation and hybrid changes, etc. As the market changes, we adapt as much as we can.

The boot camp speeds up the learning curve by 6-12 months, and that could avoid a lot of $$ and headaches.

Don
 
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