According to the last 22 posts in which Don has posted his daily profit/loss with the opening order strategy, he is +$19,575. This is an average daily profit of $889, and an average yearly profit of an astounding +$224,028. I was wondering of others using this strategy are doing this well.
Nice work on the computation. Yes, that is a good idea, about signing off. As I see it, the OO method is mostly objecive on the entry and very subjective, ie., tape reading on the exit. Is that correct?
I stand by my numbers on a daily basis...and as I've said before those are posted to simply show how the strategy can work....I don't plan on posting my tax returns or P&L on any chat board or anywhere else for that matter. BTW the $224K a year is a bit high, and you need todeduct commish (yes, even I must pay commish). The strategy works....and we show many people doing much (much) better than I do...heck, I only do 20 stocks of 2000 shares....some guys are doing a few hundred orders.... It's the high probability play that counts, and judging by all those here and elsewhere who have started doing it, I would say it's working well for most. Don
The exit strategy is, or can be, completely different with everyone....from a few seconds to a day or more....as in many trades, the "getting in" is easy, it's the "getting out" that takes some practice. Some are automating to the point of hundreds of orders....some just do a handful so they can better see exit points. Don
Can you explain to us how some of your traders execute an OO strategy involving a 1000 or more orders each way? Thanks, Axe
Some have designed their own software (or added to ours) the ability to scale orders on both sides of the entry (enveloping). This allows for more order entry, and the wider something opens, the more shares you are filled on. Don
The new heart (valve) is working ok so far...except when doing battle on the this board... (Seriously, thanks...all is fine, I should be back to 100% in a few months)... Don