The Opening Orders Thread

Quote from wucah:

Hi, I have been following this thread for awhile and the other ones before it. I just recently acquired the skill needed to write my own api to send out all the orders. It seems to work fine and all but everyday I get filled on a lot of stocks. Right now I am only doing the first 60 top volume stocks and everyday I have anywhere from 10-15 positions. Hard to manage. On tuesday I lost alot of money because oil companies took me for a ride, like cop, dvn, rig so I learned to take those out. The question is how come you guys only get 1-4 positions. My envelope is 0.7/0.7 that sounds in line with what chingy (sp) uses. What I am doing wrong? Seems like Don Bright only gets filled 1-2 positions max with 200 orders out. If i had 200 orders I would probably get 50 positions if not more. :(

Thanks for any advice.
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If you are getting too many fills, either widen your envelope (but you are pretty wide already) or reduce the number of stocks you use. From what you have written it sounds like you are doing everything correctly but it is hard to tell unless you indicate exactly how you are coming up with the prices you send in. Check the fills you are getting. Were the stocks really gapping up or down? If not, maybe there is an error in your calculation somewhere. During earnings season it can get pretty wild on the OPG front, so the number of fills you are getting might be correct.
 
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