Who is on the other side of KM Trades?
- Thread starter nitro
- Start date
Originally posted by version77
Gee whiz rtharp, what do you do with the rest of the day after
spending so little time trading the market?
How do you determine your entry positon sizing? Are you
splitting your capital evenly with your positions?
Splitting capital evenly?? Remember I have 20 to 1 margin??
No way.
I keep my risk to what I'm comfortable with. So I started this system with 100 shares than 300 500 ..800 and have stayed around 1000 for awhile.
On what I do with rest of my day well since I'm Echo's Phoenix manager I help other traders.
I've been going to Ebay (I'm trying to get a practice putting green for the office cause I'm bored and would like to improve my golf game)
I used to scalp spreads but there is nothing around so I'll run errands. Find out what the office wants and go for a food run.
Robert
Originally posted by nitro
Robert,
Thanks for the new offerings. Is there any particular reason why this system is only traded within the first hour of the day and not again?
Do you live in Arizona and do you like to golf?
nitro
I now live in Arizona but still own my condo in Solana Beach (San Diego) and will move back there. I made a committment with Echo to help get the Phoenix office really running well and will follow through before I leave.
I suck at golf but plan on taking some lessons
Robert
Today's trades.
Well today was my first losing day all month. The gap this morning threw me out of whack.
I picked about 4 from my short list but nothing really followed through and fell hard. So took a small loss for the day. It happens every once and awhile. The key is to then protect capital and just know that tomorrow is another day. I'll post my list for a few more times on this thread.
What sucks though for me is my Opening Orders I'm not participating on that thread as I rather not give out too much info on what I'm doing but today I got filled on over 12 stocks
instead of 3 or 4. It was too many to handle for me.
I quickly closed out of them all and lost money on Opening Orders for the first time in months. I had my envelope too tight and their were more orders than normal since very few of my stocks had news (I don't play stocks with news) I use an envelope a lot further away that DON and the EDGE because I want higher probabilty fills. I checked the stocks and had I held for another 3 minutes would have been heavily positive but with too many positions to manage I had to keep my risk in check. I don't like being long with the market going down in the opening.
Robert Tharp
Well today was my first losing day all month. The gap this morning threw me out of whack.
I picked about 4 from my short list but nothing really followed through and fell hard. So took a small loss for the day. It happens every once and awhile. The key is to then protect capital and just know that tomorrow is another day. I'll post my list for a few more times on this thread.
What sucks though for me is my Opening Orders I'm not participating on that thread as I rather not give out too much info on what I'm doing but today I got filled on over 12 stocks
instead of 3 or 4. It was too many to handle for me.
I quickly closed out of them all and lost money on Opening Orders for the first time in months. I had my envelope too tight and their were more orders than normal since very few of my stocks had news (I don't play stocks with news) I use an envelope a lot further away that DON and the EDGE because I want higher probabilty fills. I checked the stocks and had I held for another 3 minutes would have been heavily positive but with too many positions to manage I had to keep my risk in check. I don't like being long with the market going down in the opening.
Robert Tharp
Watchlist for tomorrow
NOt much on my scans
I'm looking at
Short list
AH must be below 24.4
and PPD 24.3 My target for PPD will be about 23.
PrePaid Legal looks rather interesting on a chart. It's had multiple days up in a row and a huge run up. might have to wait another day or 2 for it but it should easily be worth a point when I'm right.
Long List
YCC above 19.35 with a target of 19.8
BCX (again)...above 16.
Can't find much else that really catches my eye. Feel free to add to this thread/instant message me or email me if you see something
Robert Tharp
(also forgot to add and am editing in. I've had some experience with the PPD specialist. He is a runner sometimes and loves to gun his stocks. He also likes to gap. If you can get on the right side of the specialist you can make it big, stop out as fast as you can if you are wrong or it could easily be .80 against you in a few seconds.)
NOt much on my scans
I'm looking at
Short list
AH must be below 24.4
and PPD 24.3 My target for PPD will be about 23.
PrePaid Legal looks rather interesting on a chart. It's had multiple days up in a row and a huge run up. might have to wait another day or 2 for it but it should easily be worth a point when I'm right.
Long List
YCC above 19.35 with a target of 19.8
BCX (again)...above 16.
Can't find much else that really catches my eye. Feel free to add to this thread/instant message me or email me if you see something
Robert Tharp
(also forgot to add and am editing in. I've had some experience with the PPD specialist. He is a runner sometimes and loves to gun his stocks. He also likes to gap. If you can get on the right side of the specialist you can make it big, stop out as fast as you can if you are wrong or it could easily be .80 against you in a few seconds.)
Well said! There is nothing like being able to come back tomorrow.
I completely agree - don't give away so much that you feel uncomfirtable posting - I am learning with you, but I don't expect you to do more than help us learn by your examples. As to the OO, I know what you mean - I too have a modified system based on certain criteria that filters some of them out.
I don't know if I agree here. It sounds like your envelopes are already realtively conservative. The fact that you got filled on so many is a _GOOD_ thing in my opinion, not a bad thing (I have done some research on this.) I assume that you are doing lots of OO orders with relatively small size. If you are doing lots of OO _AND_ big size, then I can see why this can happen to you.
Huh!!?? I must misunderstand what you mean. On a down pre-market (futures below FV between 8:15 and 8:30 CST) the market will open lower. I assume that you are putting in bids well below the FV for the stock(s) and _PER_FORCE_ will be filled (happily) on an undershoot of those stock(s) fair value?
nitro
On Opening Orders I do enough but not anything automated. I was filled on over 12 today and when all I see is RED on my P&L I quickly got out as fast as I could. NOrmally I would have 2-4 which I can handle.
It turns out had I held for 2 more minutes I would have made 10x what I lost. Losing a few hundred is something I can deal with. Especially when I would have made a few grand.
The other thing that bothered me was I was heavily long after the opening after the market opened up and was red. I'd prefer to have some shorts and longs. The market did gap and come back but not soon enough for my blood.
I had bids heavily below fair value and was happy to be filled on the first 4 or 5 but when I got more and more and more I can no longer see the tape effectively on all of them.
One of the other traders showed me how to set up the "tape" in my market minder so that I can now see all of my opening orders and read them more easily. I still only want 4 or 5 fills but if I am ever hit with 12 I will be able to handle them now a lot better than today.
Robert
20 to 1 margin? Cool. I figured you had 10 to 1...
Getting filled on 12 Opening Orders that were going red must
of been really awesome! I would of bailed ASAP also.
I have quite a few relatives that live in Mesa, Arizona. They
come up to the Seattle area for the summer. Too hot down
there in summer time. Too cold in Seattle in winter... I have
heard San Diego has nice weather, what, 72 year round?
I used to play golf, even had one of those practice putting
greens for the office.
Better luck Wednesday. Hope you don't repeat that OO act!