The Opening Orders Thread

Quote from stock777:

If he was filled on something much less than 2 million that certainly changes the story for the better.

But size traded is always critical, as many are enchanted by the 'net', and think they can do the same thing with a 50k bankroll.

They barely stop to ask the size of the 'punch'


The futures came in 30 points, if you wanted to gamble that the pop was pumped, a 500 lot would have made you 750k (best case), with a lot less hassle.
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My eMini trading would have me making 2 points and then watching them fall another 28, LOL.

I trade the e's daily, with a plan of sorts, but only for about 10 minutes or so near the end of day. I have mixed results. I don't see any reason to not engage in both strategies if you like trading the futures, and the futures firm will let you.

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And, I feel about the same as DonKee about the MGM deal. Vegas has always been a target according to the media. I'm just pondering if the pundits (on either "side" of the political landscape) will be voicing disapproval about it.

Don
 
Quote from stock777:

If he was filled on something much less than 2 million that certainly changes the story for the better.

But size traded is always critical, as many are enchanted by the 'net', and think they can do the same thing with a 50k bankroll.

They barely stop to ask the size of the 'punch'


The futures came in 30 points, if you wanted to gamble that the pop was pumped, a 500 lot would have made you 750k (best case), with a lot less hassle.
More...

You do understand that just because the futures were up huge before the open does not necessarly mean you will be short, correct? He was in this case but there's no certainty about that.

I understand your point about misleading the public, but I think you're calling out the wrong guy in this case.
 
Quote from Shreddog:

You do understand that just because the futures were up huge before the open does not necessarly mean you will be short, correct? He was in this case but there's no certainty about that.

I understand your point about misleading the public, but I think you're calling out the wrong guy in this case.
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I would assume that in the case of extreme openings like that, most of your fills will be fading the move. Maybe there's some 'additional' edge in doing it with stocks that are moving further than the gap, I don't know.

Sure, you may cover futures too soon, but thats because you are only looking at 1 trade, when you have 20 OO's you can only wimp out on one or two at a time.
 
Quote from stock777:

I would assume that in the case of extreme openings like that, most of your fills will be fading the move. Maybe there's some 'additional' edge in doing it with stocks that are moving further than the gap, I don't know.

Sure, you may cover futures too soon, but thats because you are only looking at 1 trade, when you have 20 OO's you can only wimp out on one or two at a time.
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I went back and looked. My ratio of longs:shorts was right about 1:1 Friday.

You really can't assume that you will be short on a big up gap like that. That gap up is already built into the prices you are sending for your orders. Are you sure you understand how this method works?

The ES was so jumpy right before the open Friday that the price you used to generate your orders vs where ES ended up at the actual open had more to do with your long/short bias than the size of the gap.
 
Quote from stock777:

Just a guess, but I doubt if the big hitter was 1:1 long-short.

correct me if I'm wrong.
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There's no way for me to know for sure, since I don't know him. All I can say is what I had that day and point out that you can't assume he was going to be massively short. I hope you saw my total from Friday. I didn't exactly have a small day either......
 
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