Don's openings Part 3

broke even this morning, losing 15 cents on TXN as well. i'm not giving up on this strategy. i know there's an edge there and just have to get used to it a little.

 

txn looks like a winner to me.opened 22.95 got to 23.40.why do you guys think you lost on it.

 

TXN opened at 23.25, went to 23.40...but got hit pretty quickly (I missed it, I put my "slingshot" at 23.50.

Don

 

I can't go to vegas to pay for the Bright training, but it seems that this "playing the opening" thing is a bread and butter operation for pure daytraders. I am intrigued by how mechanical it seems, no emotion or angst involved, and it gives a reason for action every morning. My personal tendency is to overanalyze and this seems to break the gridlock.

Could someone give me the basic theory behind it? If you don't want to spill the beans in public maybe you could send an instant message ? You don't have to tell me everything, just the basic concept so I can follow this thread better. A web link for an explanation would be fine too. Thanks.

 

we have hashed this thing over a lot.do a search for openings.

 

it has been layed out manytimes in the previous Open Order threads...go back and read them from the beginning and you'll answer your questions.

cas

 

dotslashfuture wrote:

"no emotion or angst involved"



Ask the guys at the local ECHOtrade office if they ever see me displaying any emotion or angst during opening orders...

 

"no emotion or angst involved"


yeah, it's a beautiful, never lose mechanical strategy that will pave the way to financial freedom - the holy grail.

whatever, it's an edge and that's it. do you hold when it gaps againt you half a point and look to get out even, or maybe a profit (don's the king at this) ??? do you take profits at 20 cents or hold out for 50 cents? if you do hold out, and it gaps down 50 cents (WHICH THEY WILL), will you experience any angst?

 

Way to go dude, >$3 is one hell of a performance!

 

Come on guys, it's just trading...it's nothing to get anxious over. This should be the most calm of all the strategies....at least half the work is done for you.

Just be sure you are comfortable with your "enter" strategy, and re-read the exits (slingshot and shakeout)....and read the tape....

And Tony, I didn't realize you were ar Echo...they have a good training program as well, and if you worked with Aly or any of the "ol Bright boys" , you will have picked up a lot of what we teach in the first place (not all, but a lot ). Best of luck!!


Don