Opening Orders - 2008

Quote from total_keops:

Good one VinMan.

Did not play yesterday.
Record day today (max number of fills, $ profit).
24 fills, 18 longs, 6 shorts, 21 winners (5 close to flat), 3 losers (all smalls). +0.22 average.
Did see some downside on some, had trouble handling all that.
Really went for it.
Now off for one month, other biz going on. Might play a couple days. Back on december 19. Good luck everyone.
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Thanks for posting consistently here, was good to watch, have a good one...
 
Yeah, great morning for the traders....I actually got filled on buy orders +26 cents...before I could even type the symbols in my quote window both my retracement orders were filled, yea! LOL.


Don
 
Im using a 25c hard stop and Im thinking of tightening that. My win rate is 77%. It doesnt seem like many trades are down a lot initialy then snap back, so most down trades continue down and hit stop. So I may tighten to see if that reduces my average loss and therefore increases my net P.

Does this thinking make sense if I find my new stops are not taking me out of potentially winning trades?
 
3 fills, short, 3 wins, about +0.06 avg
Out a bit early GE.

Stops, more of an art than science. Test different scenarios and see what the stats reveal?

Don, how many fills?
 
Quote from VinMan:

Im using a 25c hard stop and Im thinking of tightening that. My win rate is 77%. It doesnt seem like many trades are down a lot initialy then snap back, so most down trades continue down and hit stop. So I may tighten to see if that reduces my average loss and therefore increases my net P.

Does this thinking make sense if I find my new stops are not taking me out of potentially winning trades?
More...
The closer you get increase your probability of getting shaked out. With a stop you cut big losers, good thing. Some stocks go the oposite way and then come back at a profit or flat, then you have to tape read. IMO it all depends on your list. You can't really have a set rule for all stocks, unless they trade in a similar way.
I dont use stops because I find I get shaked out too often but I do get some wild rides. The best way to do is too look at the time and sales of your losers and see what if I had done such and such...
 
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