Opening Orders - 2009

Ok, yer cherry picking quotes there, but the old school way of trading openings still works. I still trade a smaller list of big liquid stocks manually each day to earn some pocket change and get warmed up for the day.

I don't read the tape, don't care about the specialist, just trade what I see and I'm patient. I don't freak out when I'm down big quickly, that helps a lot.

Today is a more typical day. 3 longs, 3 shorts, +$951 on 23,000 shrs.
 
Pocket change!?!?!?!?

Sir I'm in college, $951 is major !!! Heck with $50 I can take two breezies out to the movies and buy a popcorn!!!!


Back to studying.
 
*As Hoped" --- A good opening for Quad-Witch day...and, I was pretty happy my program place all the covering orders, LOL.

10 Fills, 9 winners, one small loss on GE (whcih I continued to trade since it is one of my "children" and got pretty close to even on it).

But, even including 12 cent loss in GE + 68 cents. 1340 on 2000 shares.

Don
 
20 fills, 7 longs, 13 shorts, 13 wins, 7 loss, +0.06 average.
Expected a little more but still very good.
Cancelled only a few, did not pushed up the share size.
PS: EMZ, I did not use OCA this morning and did not have the blue status problem.
 
18 fills, 1 long, 17 shorts, 13 winners, 1 flat, 4 losers, +0.05 average.
Widder envelope on longs ( x 1.5).
As good as friday, exactly 1$ difference.
Thanks for this chearleading Timmy.
Friday and today I had f top quotes where only one side of the bid/ask seems good cuz I try to hit and can't. Not that big of an issue but still troubling cuz I have to open a chart to see where the price "is".
PS: EMZ, same deal as friday for blue status. Seems to be an OCA issue on my side.
 
Have others cut back on the opening orders? it seems when the market is WAY up or WAY down. The risk is too great?


also it seems 5 days or profits can be erased with 1 bad opening order trade?
 
I can't verify that as an Opening's trader because I'm still trying to learn the system myself.

But, I recently read 6+years worth of the Don's Opening Order's threads, and from 2001 there were doubts as to whether the system was profitable or not....and time and time again it showed profitability and more and more people tried the system.

And then over time it would seem like only a handful (in 2009 it would be total keops and chiguy) were consistently using the system.

Wouldn't surprise me to see it takeoff again. It's like a business cycle or something.
 
Quote from NYC212:

it seems when the market is WAY up or WAY down. The risk is too great?
More...
I disagree. On the Street, where there is risk, there is opportunity (with risk, not just the reward).

also it seems 5 days or profits can be erased with 1 bad opening order trade?
More...
It can, depends how you play it. But was it poor days or very good days. Only read the second post of this thread where one guy make an average of 1.5-2 cents per share on average over the year. It's a scalping strategy so there is a very thin line between profit and loss. But on average, it can be done.
Not for everyone for sure. You have to ask yourself if it fits your style.
 
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