The Opening Orders Thread

Quote from Don Bright:

You're right, tough comparison...a lot "coulda done betters" on both it seems, LOL.

OK, today Goldman has a bunch of problems pre-open, got them fixed just in time for opening, but positions were a little off.

6 fills +$1040.

If you don't trade Monday, have a Great Christmas. I actually like those half day, Holiday days. So I'll probably come in.

Don :)
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I guess that is a no comment on this post?

Don,

Since you brought up your automated account, would you be willing to share the exit and money management aspect of it?

I think we all know that "price improvement" can work both ways and it seems like using stops in a total automation mode would get you a lot of horrible slippage on the "money management" side of the equation.
 
Quote from DonKee:

I guess that is a no comment on this post?

Don,

Since you brought up your automated account, would you be willing to share the exit and money management aspect of it?

I think we all know that "price improvement" can work both ways and it seems like using stops in a total automation mode would get you a lot of horrible slippage on the "money management" side of the equation.
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No problem, I guess I just missed the question. I simply automate what I do and teach manually. I can send up to 4 layers of orders with any number of shares. When filled, the program automatically sends in an order to cover half the shares with a 6 - 10 cent profit target. I "can" (and have) used stop loss orders, but prefer to watch the tape, so I generally take that function off.

I generally take the second layer off manually as well. If I'm making a serious amount of money, I may simply hit "cover 100%" and be done with it.

More gray box vs. black box, but can be set either way.

I didn't get any fills today. My niece is up about $10K, primarily on LOW and HD (I took them out). She's been doing really well, just started doing the openings a couple of weeks ago (she recently transferred her 100+ portfolio pairs to my brother and his updated technology, and wanted to get involved with the opens).

Anyway, have a Great Holiday...back to it on Wednesday.

Don
 
No fills. Had a lot pulled on news, go figure. You'd think even news would dry up on Christmas Eve.

Enjoy the holidays, everyone. I'll be back at it on the 28th.
 
Quote from Don Bright:

No problem, I guess I just missed the question. I simply automate what I do and teach manually. I can send up to 4 layers of orders with any number of shares. When filled, the program automatically sends in an order to cover half the shares with a 6 - 10 cent profit target. I "can" (and have) used stop loss orders, but prefer to watch the tape, so I generally take that function off.

I generally take the second layer off manually as well. If I'm making a serious amount of money, I may simply hit "cover 100%" and be done with it.

More gray box vs. black box, but can be set either way.

Don
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okay, thanks.

I suspected that your exits were a combination of profit targets automated and manual. Using stops would seem to be a recipe for getting bumped out with maximum slippage.

Good Holiday to all.
 
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