You could cancel your outstanding orders once you reach your BP limits, but the downside of that is that some of the best OPG's open late.
Used .5 on buys and .8 on sells No fills. I have a lot of tech stocks and I was really concerned with getting filled short so I widened my sell side envelope. Obviously by too much. Back to the drawing board.
filled on shorts txn, hpq long jpm txn and hpq were a wash...nice trade in jpm If you look back on yesterday's post regarding mechanical management of the trades, please note, it's a lot harder to put in stops, targets, etc then I thought it would be. I'm still going to try to do it mentally, but in reality it is very tough and that was only getting filled on 3 orders (LOL). The target orders were easy, I can see how resting stops can really get you hurt this early in the morning as the specialist closes his book and widens out the spreads.
1 short win, 1 short scratch, 1 long loss, -385 IBM took me to the woodshed and kept me there, going 89 cents against me before letting me breathe. I finally "tapped out" with a 40 cent loss after giving him almost an hour to grant me a pardon. No dice. The worst part about these types of days is that you miss all the other opportunities while you're nursing a lame opening order...
lescor: lol, yea ive been building up my credit rating for these kinds of days..it seems the firm im with are anal like that, if i exceed my bp for even one second, they issue a daytrading margin call and they want me to deposit funds, but good to know there are firms out there that are a bit more relaxed! cashonly: im assuming these NYSE opens occur one after the other pretty fast if you have a large number of orders in, so i guess even if youre really fast to attempt a "Cancel All", u might still get "overfilled".
Used .4 for buys and sells (did not adjust for FV, just used the raw envelope #) 4 fills, all buys B MOT -.18 B HD -.05 B TXN -.03 B USB Still in it from 29.45, stop at days low. As long as it rides upward trend line I will stay in it. Its an experiment
Anybody adjust their o/o for the hi-low price indication? It seems like everytime I do I miss a good trade.
An experiment??? Hell, for me that's a strategy. I remember one time I took a $2.75 ride doing that and often get a buck or more!
3 fills / 4500 shares 3 longs...+109.00 - .75 / + .75 % .... no skew at all stopped out on mrk @ 33.66...low of the day i bit too tight on the mrk stop but system says it did not get a whole heck of alot better... tgif...
That's the idea. I did a lot of research and found that many stocks will open near the H/L of the day and then trend the rest of the day. This one didn't work out and I ended scratching it. I'm trying to stay in the ones that are working as long as possible.