The Opening Orders Thread

Quote from lescor:

I've never traded on Redi, so can't help you there. I do have an opening orders system on IB, but it is a seperate app written for IB's api and does not run on vba through excel. If you are trading manually and constrained by space, I'd just go off your positions and what they're doing. Have one level 2 window and a chart and sort/manage positions by P/L.
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Corey since you are expert. What is the real amount of capital needed to run Opening Orders strategies successfully?
 
Quote from SOESBandit94:

Corey since you are expert. What is the real amount of capital needed to run Opening Orders strategies successfully?
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Yeah, I'm curious too Corey.

FWIW: I put in 48 stocks today, 3,000 to buy and 3,000 to sell. Average price approximately $45.00.

288,000 shares X $45.00 = $12,960,000.00 (I think the decimal is in the right place).

4 winners, 1 stupid SFD loser (-$400 net, lost $1400 on SFD). No more SFD.

Don
 
Quote from lescor:

I've never traded on Redi, so can't help you there. I do have an opening orders system on IB, but it is a seperate app written for IB's api and does not run on vba through excel. If you are trading manually and constrained by space, I'd just go off your positions and what they're doing. Have one level 2 window and a chart and sort/manage positions by P/L.
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Does IB account for buying power as you enter OPG orders and then reject once you exceeded or do they only account after you are filled?

Thanks!
 
Quote from viennatrader:

Does IB account for buying power as you enter OPG orders and then reject once you exceeded or do they only account after you are filled?

Thanks!
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Only after you are filled, generally speaking. But once your fills are over your BP they will immediately cxl your outstanding orders and start liquidating positions. It's a tricky game because the days you get the most fills are usually the best ones.
 
Quote from chiguy:

i did.

5 fills / 10000 shares

3 short / 2 long / +124.00

BA....ouch....-771.00

-.74 / + .76 %
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Thanks for being upfront. I don't know if I believe 98% of what I read on this thread, as it seems to me that there are stocks daily that would chop people's heads off if they are on the list, and you only know whether to take it out after the fact.

Take your example. Since you lost $771 on BA, that means that on 2000 shares (I am guessing 2000 shares since 10000 shares / 5 fills = 2000 shares per) you let it go apprx .37.5 against you (assuming your numbers do not include commish). That seems like a formula for disaster to me, but I am not an OO trader.

nitro
 
Quote from nitro:

Thanks for being upfront. I don't know if I believe 98% of what I read on this thread, as it seems to me that there are stocks daily that would chop people's heads off if they are on the list, and you only know whether to take it out after the fact.

Take your example. Since you lost $771 on BA, that means that on 2000 shares (I am guessing 2000 shares since 10000 shares / 5 fills = 2000 shares per) you let it go apprx .37.5 against you (assuming your numbers do not include commish). That seems like a formular for disaster to me, but I am not an OO trader.

nitro
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You do understand that BA was in the news today right? Most of us don't trade news stocks if we can at all help it.
 
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