I use the same stocks everyday, that way I feel that I "know" how the stocks act after the opening. This greatly increases my winning percentage (I hate being involved with a stock that I don't know very well).
Don Do you mean that you actually trade the same stock every day? Or do you mean that they are in your watchlist when you are analyzing, before you pick your stocks for the day? THX
I have used the same stocks everyday for months (years). What in the world would you put in for parameters on a "watchlist"? The stocks that tend to open up or down more than they should? I find that by using the same stocks everyday that I get a consistent profit.
Ask the Edge. He is apparently using a watchlist. I am just trying to figure out how you are trading your opening strategy. I wish I could read more about it then just watching the results from it every day. THX
A quick question re: your FV system, are you buying the lower band and shorting the upper band or vice versa?
I use a watchlist to screen candidates until I have a "portfolio" like Don. After I have selected my "final" stocks I will only use them, so like Don I will get to know them thorougly. Takes data and research in my mind of many months until I will settle for some suitable blue chips. Until then I am happy to just learn as much as I can, and keep mu loosers to a minimum.
The "entry" is done by using the FV enveloping of each stock with buy and sell orders prior to the opening.
Here are my opening play's for today: AIG, short at 77,40, exit at 77,17, WINNER FDC, short at 78, exit at 77,99, SCRATCH (FDC headed way down later, looked strong for a while so I exited, but never touched my stop so maybe I should work on my patience