The Opening Orders Thread
- Thread starter Don Bright
- Start date
He's now up about a $half million. He shorted 2.1 million shares this morning. Has bought back about 2/3rds at this point in time.
Please understand that this trader has been with us for a decade, and has been consitently profitable or we wouldn't allow quite that much capital usage.
Don
Great job!! Glad to see it....
Don
correct me if I am wrong but this kind of trading is done
for the most part by traders using automated strategies
on the open for dozens or hundreds of stocks
that route their orders to the specialist on the NYSE
for the opening print , hoping he puts the "print"
far enough "out there" from the prior days close to
cause a nice "fade" for the traders in which to cover?
how does a trader manage to follow dozens or hundreds of positions at once in wild market conditions ?
for the most part by traders using automated strategies
on the open for dozens or hundreds of stocks
that route their orders to the specialist on the NYSE
for the opening print , hoping he puts the "print"
far enough "out there" from the prior days close to
cause a nice "fade" for the traders in which to cover?
how does a trader manage to follow dozens or hundreds of positions at once in wild market conditions ?
Essentially you are correct. However, not everyone uses automation to trade opening orders. I can actively scalp a dozen positions just by watching them and being quick. With dozens or even 100 different trades going, I trade them as a portfolio, watching p/l, the market and paying attention to individual stocks that are particularly good or bad. Some guys are certainly 100% automated though.