As one who often recommends to other traders to review my Original Journal, I decided to take my own advice and review the previous OO Threads. I spent much of Friday, Saturday & Sunday reviewing each of the old "Opening Journals" including the current one here. Reading the entire body of work as one 'batch,' reveals a number of fantastic insights (if one takes good notes, and pays attention). I wanted to thank Mike, Corey, Don, Chiguy and the many others who contributed along the way. Also, thanks to NYSEprotrader for this post which has most of the Journals linked in one place. I think many would benefit from an expanded approach discussed within your next Journal. Good trading to you all. - Spydertrader
I'm glad you were able to find what you need to help with the strategy. Well, today...zero fills...I did widen the envelope a bit .... For next year....I will add stocks, divide by groups, layer out bid/offers for each stock....for entries. Now, for closings...I will start manual...then add a group at a time to a "slingshot" with trailing stop program....and we'll see if we can keep the same win/loss ratio..and make a bit more money. I'll give more details as time goes by... Don
Opening order steped it up a notch today and went from 1000 to 1500 shares...got 2 fills both losers -150
Yeah, this is the "law" - perhaps even "Murphy's Law" - when you up your share size, you have to lose the first day....this keeps the trading gods happy, and gives them a good chuckle. The weak at heart go back down in share size...and the strong persevere. (Kinda joking, kinda true, LOL). Don
Hi All, I am a newbie on the openings, and I hv been doing it since the beginning of the month. The following is my result for today. 20 orders, 3 fills, All LONG WINNER: KO (13 cents), USB (5 cents), MCD (1 cent) LOSER: 0 I am using 0.8% envelope, and i adjust my entry w/ the fair value & individual stock beta. Is that the appropriate to do? My firm doesn't hv Open only orders, so I juz send out limited buy/sell orders and cancel them manually at around 9:30:15... I don't usually get filled right off the open. Please advice
Well, something is wrong since I trade KO as well, and my .4% envelope was not filled...I had a 42.36 bid, and it opened at /42.41. FV = 1.12 today...market pretty flat .... I suggest you check your computations.....but, hey, you made money....good job!! Don