I looked into this site from time to time during the last 2 years and just today gave me a push to use it as a journal and maybe even write what errors I made during the years.
11.1.06
Bought to open
b/o ADVNB @ 32.45 (my average purchase price)
b/o KB @ 74.22
b/o SBS @ 17.40
b/o AYI @ 35.92
In case somebody should ask:
I select my stocks using a combination of various screening parameters (don't ask
, I already own some other stocks (but think it is best to start my journal "near" realtime.
I usually buy between 9.30 and 10.10 and hope to post my entries shortly afterwards (it's the other way round to some journals...). The holding duration can be between 1 (rarely) to 60/80 (rare too) days, most make it 1-4 weeks.
Most of the stocks I buy are not huge volume stocks (min. 50k) and the spread might be up to 0.7 % or more therefor I try to get between the bid/ask. I also look at recent history to figure out if the stock tends to weaken after the open. As far as I recall once every 7 or 8 operations the price heads north and I end up with a much higher price than if just tried a ask+ limit with reduced displaysize (IB'sTWS). I remember reading, if you want a stock buy it at the market (if I close I more often use market orders)...
Are there people around with more detailed studies regarding this problem (I know there are?
Maybe I try a poll..
Entering a position I would if forced use:
1) MOO
2) tight limit scale orders around the expected open
3) tight limit scale orders around the expected open + later e.g. 10:05 next bunch of scale in bid/ask
4) fixed time orders, e.g. 9.35, 9:48 etc.
5) just wait and see what I can get
As I only can vote for one I'd go with 3
Greetings,
Mike
11.1.06
Bought to open
b/o ADVNB @ 32.45 (my average purchase price)
b/o KB @ 74.22
b/o SBS @ 17.40
b/o AYI @ 35.92
In case somebody should ask:
I select my stocks using a combination of various screening parameters (don't ask
, I already own some other stocks (but think it is best to start my journal "near" realtime.I usually buy between 9.30 and 10.10 and hope to post my entries shortly afterwards (it's the other way round to some journals...). The holding duration can be between 1 (rarely) to 60/80 (rare too) days, most make it 1-4 weeks.
Most of the stocks I buy are not huge volume stocks (min. 50k) and the spread might be up to 0.7 % or more therefor I try to get between the bid/ask. I also look at recent history to figure out if the stock tends to weaken after the open. As far as I recall once every 7 or 8 operations the price heads north and I end up with a much higher price than if just tried a ask+ limit with reduced displaysize (IB'sTWS). I remember reading, if you want a stock buy it at the market (if I close I more often use market orders)...
Are there people around with more detailed studies regarding this problem (I know there are
?Maybe I try a poll..
Entering a position I would if forced use:
1) MOO
2) tight limit scale orders around the expected open
3) tight limit scale orders around the expected open + later e.g. 10:05 next bunch of scale in bid/ask
4) fixed time orders, e.g. 9.35, 9:48 etc.
5) just wait and see what I can get
As I only can vote for one I'd go with 3
Greetings,
Mike