The Opening Orders Thread

Whew, thank goodness for the auto retrace function this morning. CSX opens at 44.57, in 2 seconds the order to sell at 44.63 went in, and got filled....then immediately down to 44.19, LOL.

Anyway, 3 fills + $320.

.3 buy .9 sell plus second layer (nothing on second layer).

Don
 
I couldn't get anyone to sell to me, or buy what I wanted to sell. My prices were not unreasonable. I don't know why I am being discriminated against...
 
Just read this whole thread start to finish plus many links contained within, took several hours but well worth it. I'm impressed with how much help you all offer. :) Thats alota Karma in the bank. Unfortunetly I don't have the capital to do what you folks do. I'm just starting out and could use a point in the right direction toward a workable strategy with realistic risk and reward expectations.

Off topic I know, and I don't mean to mess up the flow, but I'm affraid to ask advice from a bunch fly by nighters.

Feel free to PM
Thanks :)
 
Quote from MoneyisTime:

Just read this whole thread start to finish plus many links contained within, took several hours but well worth it. I'm impressed with how much help you all offer. :) Thats alota Karma in the bank. Unfortunetly I don't have the capital to do what you folks do. I'm just starting out and could use a point in the right direction toward a workable strategy with realistic risk and reward expectations.

Off topic I know, and I don't mean to mess up the flow, but I'm affraid to ask advice from a bunch fly by nighters.

Feel free to PM
Thanks :)
More...

As Don has pointed out many times, the sad truth is that it's very hard to implement this strategy in a retail environment. It's not so much the orders you place as the orders that fill. It's impossible to predict your fills on any given day and that is hard to manage retail. It can be done but really you need at least 100K in a retail account to make it worth your trouble and even then it will be difficult.

I started out trading opens at IB but one day came to the realization that if I really wanted to make a go of this strategy it would have to be done prop. Here's the exact moment I realized it:
http://www.elitetrader.com/vb/showthread.php?s=&postid=836674#post836674

I took the Series 7 and joined a prop firm shortly after that day.

Cheers Lescor for the kick in the pants!
 
Good Wednesday +$777 (hmm, maybe I should hit the Strip and play some dice now, LOL).

.3 sell, 1.0 buy envelope. 5 fills. All shorts, of course.

Don
 
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