Opening Orders - 2008

chrisofj · Oct 31, 2008

I got +.10 on T. I tracked T as it moved towards it's fair value. Missed a longer trade on that. I will start trying to follow this, maybe I can exit most for the scalp I get, then try to hold for a larger move with a stop. Like in T a stop above 28 and hold for 27.20 area.

I post my results in cents because that seems to be the style for this. Some heavy weights at bright do this with thousands of shares, so posting in cents you can determine pnl based on the size one is currently using. Which for me is pretty small.

total_keops · Oct 31, 2008

Monthly recap:
63 longs, 45 shorts, 91 winners, 17 losers.
Average fill qty 5.14, min 0, max 16.
+0.14 average per share, min -0.44, max +0.30.
Played 21 days.
Best month so far.

ericyyy · Nov 3, 2008

Quote from Don Bright:

Actually "Market on Close" from the published imbalances. This strategy has gotten a bit easier and safer since July when they started to update the imbalances every 20 seconds or so.

Don

Hello Don

Is the MOC imbalances really updating every 20 seconds now since July? I use sterling platform and I only get updates on MOC imbalances at 3:40 and then again at 3:50 that's it. Am I completely in the dark and out of date. Please confirm this Thanks in advance.

Regards,
Eric

total_keops · Nov 3, 2008

Quote from ericyyy:

Is the MOC imbalances really updating every 20 seconds now since July?

http://www.nyxdata.com/nysedata/default.aspx?tabid=700
NYSE Imbalance Datafeed/Specification

total_keops · Nov 3, 2008

6 fills, all shorts. 4 winners, 2 losers. -0.20 average.
CAL killed me.
Went from profit net to flat to red, genius.

Don Bright · Nov 3, 2008

Quote from ericyyy:

Hello Don

Is the MOC imbalances really updating every 20 seconds now since July? I use sterling platform and I only get updates on MOC imbalances at 3:40 and then again at 3:50 that's it. Am I completely in the dark and out of date. Please confirm this Thanks in advance.

Regards,
Eric

Yeah...."sort of" - but the placing of actual MOC orders basically remains the same...you can offset published imbalances from the 3:40 and 3:50 times, even if they go opposite. The exact number of shares shown in between doesn't affect the regulatory order placement ability.

Monday opens, not bad only 2 fills (trading with projector in front of boot camp...+32 cents.

And, first day of record keeping for boot camp opens. Of those who had fills: 7 traders with fills, all winners....low of 9 cents, high of 25 cents...... I hope I didn't just jinx them for the rest of training, LOL.

Don

ericyyy · Nov 3, 2008

Quote from Don Bright:

Yeah...."sort of" - but the placing of actual MOC orders basically remains the same...you can offset published imbalances from the 3:40 and 3:50 times, even if they go opposite. The exact number of shares shown in between doesn't affect the regulatory order placement ability.

Monday opens, not bad only 2 fills (trading with projector in front of boot camp...+32 cents.

And, first day of record keeping for boot camp opens. Of those who had fills: 7 traders with fills, all winners....low of 9 cents, high of 25 cents...... I hope I didn't just jinx them for the rest of training, LOL.

Don

Thanks Don and Total

What did you mean by "Yeah Sort of" Don? Kind of feeling that I'm at a disadvantage now. If I had 20 secs update on the MOC imbalances then on last friday I wouldn't send my MOC orders for PSA and MET which kill me on the prints for $1000 and $500. My losers for that day. Can I ask what trading platform do you use to get the 20 seconds updates? Maybe I can come to the training camp

next time.

Regards,
Eric

total_keops · Nov 4, 2008

1 fill, short "winner". + 0.02 average.
Maybe played a little too wide.

Don Bright · Nov 4, 2008

"Textbook" opening. Did it manually again, 4 fills only +48 cents.

I'll post the boot campers after I recap with them.

Don

Don Bright · Nov 4, 2008

Quote from ericyyy:

Thanks Don and Total

What did you mean by "Yeah Sort of" Don? Kind of feeling that I'm at a disadvantage now. If I had 20 secs update on the MOC imbalances then on last friday I wouldn't send my MOC orders for PSA and MET which kill me on the prints for $1000 and $500. My losers for that day. Can I ask what trading platform do you use to get the 20 seconds updates? Maybe I can come to the training camp next time.

Regards,
Eric

I apologize for not answering properly (really busy this week with training etc.).

Yes, absolutely having the updates during the last 20 minutes of the day (every 20 seconds or so) has helped considerably. We see how the flow of the MOC orders go, even to the point of reversing at 3:50 (this is really, really helpful). The regulatory entering of actual MOC orders is based on the 3:40 and 3:50 published numbers, even if they reverse, but the flow of shares is helping a lot.

We use the Goldman Sachs RediPlus platform, which has been excellent (especially since GS took over a few years ago).

And, sure, feel free to come by, whether for formal training or to just see how all this working.

All the best,

Don