4 fills, all winners. +21 cents.....
Don
Don
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Opening Orders - 2009
- Thread starter Don Bright
- Start date
Quote from tmantrader:
I am relatively new to this strategy (have read Don in TASC for a few years but that's it) but trying to flesh out my approach. I have a few questions for those of you who have done this for a while:
1) does anyone do order enveloping based on volatility of the underlying stock as opposed to flat % (e.g., FV adjusted price +/- some multiple of ATR)
Some do...some use beta's, I don't bother....I like to keep it simple...we're just trying to get filled "with" the Specialist, not against him.
2) profit targets: for those of you use these, what would you estimate your target is in relation to the envelope? So if you are using +0.5% and -0.5%, would you be looking for a profit target of 1 times? Or higher.
My automated program sends in a 6 cent profit target for half the shares, and 20 cents for the other half...I sometimes manually over-ride....keeping it simple.
3) stop loss: same thing. for those who use, what would your stop loss as a multiple of your profit target. 2 times? 3 times?
Use as a trigger, if you use at all. Have a minimum of 5000 shares at about 15 cents away...or just have 100 shares trade to alert you to the move.
4) time stop: does anyone use a time stop either in addition to other exits, or as a primary exit?
I don't ... I just read the tape, try to expand the profits or cut losses (you can always get back in if you like...remember, the day is not over at 9:40)
5) what would you say your average time is in an OO trade across all trades?
I cancel the opening orders after about 3 minutes after the bell. I'm generally done by 9:40 ro so.
6) has anyone done any analysis of MAE for winning trades and could briefly describe what they've found?
I'm sure some have...I haven't bothered for years.
I apologize in advance if these questions are too basic, but would love to get the benefit of your experience.
tmantrader
2 fills, 2 shorts, 1 winner, 1 loser, -0.25 average.
Shaken out with wide slippage on one stop. It had to happen at some point. Did it revert back 2 seconds later, of course.
Shaken out with wide slippage on one stop. It had to happen at some point. Did it revert back 2 seconds later, of course.
(No comment on the stops being triggered...but thats why I choose not to use them)...anyway...
5 fills, 4 winners...(stupid NVS, LOL). +31 cents.
Don
5 fills, 4 winners...(stupid NVS, LOL). +31 cents.
Don
How in hell did I missed that (-0.52/share)? Dude.Quote from total_keops:
2 fills, 2 shorts, 1 winner, 1 loser, -0.25 average.
Shaken out with wide slippage on one stop. It had to happen at some point. Did it revert back 2 seconds later, of course.
FedEx upgraded by Jesup & Lamont.
Still, happy to have an explanation.
Hi Don and others!
I read through most of the Don's opening orders threads from 2001-06....my eyes hurt. But it's cool to see the new soldiers carrying the torch! total keops and chiguy are like the new lescor and mgkrebs (is that weird that I became a fan of the opening orders people like it was a ballteam?)
Anyhow, I recently switched to IB and I can do OPG orders! Should I try the strategy using the old methods described from '01 and '02? Has it changed much? In the years inbetween, '03-'06, most of the time a new guy asked how to do the strategy a link was posted to the original descriptions, so that's why I ask to confirm.
Thanks and good luck!
I read through most of the Don's opening orders threads from 2001-06....my eyes hurt. But it's cool to see the new soldiers carrying the torch! total keops and chiguy are like the new lescor and mgkrebs (is that weird that I became a fan of the opening orders people like it was a ballteam?)
Anyhow, I recently switched to IB and I can do OPG orders! Should I try the strategy using the old methods described from '01 and '02? Has it changed much? In the years inbetween, '03-'06, most of the time a new guy asked how to do the strategy a link was posted to the original descriptions, so that's why I ask to confirm.
Thanks and good luck!
2 fills, 2 longs, 1 win, 1 loss, -0.02 average.
Cancelled 2/3, too many!
Cancelled 2/3, too many!