The Opening Orders Thread

Quote from sucre_estave:

In my opinion, you don't need the indications to make money on OPGs; I've never paid attention to them. Rely on your ability to cut losses quickly. (Of course I'm not a superstar when it comes to OPGs either, so take what I say with a grain of salt.)

Yeah I agree...about 99% of it is psychological with me & my fills are still the same as before pretty much...they just gave me somewhat of a feeling of confidence for where they would open & how many fills I would get. I might have adjusted my order prices or cancelled when I saw the indications. Now I think I just have to get comfortable being more mechanical knowing that the strategy still works the same.
But like today for example, on the stocks that opened up on a down day (looked like quite a few did that & worked), they might have been indicating up & I might have tightened my sell envelope when I saw that if a lot of stocks were indicating in that direction. A lot of times on expiration the majority of the Dow 30 stocks would indicate the same way & I would adjust my envlopes & order prices/size accordingly knowing that it would probably be a good open. I had a feeling to do that even without the indications, but I didn't tighten enough. Oh well, woulda coulda shoulda as Don would say :p
Using the price ticker for pre-market trades & also adding a second layer is helping me adjust...just gotta adapt.
 
i never used indications for the opening only trade...

once in a great while it would point out one i missed but all in all i have to agree for the opening only trade the new routine works...

for baskets it really sucks...:mad:
 
4 fills / 20000 shares

2 long / 2 short / - 1782.00

longs = losers / shorts = winners...

cat got me only to watch it go back to flat...(3628.00)

leh was great but bailed way to quick...2057.00

i will get this eventually..........
 
bad day...started out great then oddball fills out of nowhere...

then lost my internet connection...

down about 3000.00....:confused:
 
All these huge up down up down days leave me with a feeling of confusion & no confidence about the open. :confused: Not to mention earnings.
I'm using envelopes of .3 for sells & 1.1 for buys then adjusting each order manually if necessary. So far I cancelled DOW & T with maybe more to come. Good luck to all...
 
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