On the one hand, that 8:15 or 8:25 reading in the S&P futures that you use to calculate your buy and sell limits from is pretty stale by the time you are 15 minutes into the new day. But on the other hand, maybe the stock is opening so late because there is a real big order imbalance and it's an ideal trade to take. I'd say cancel the orders somewhere in the 10, 15, or 20 minutes late range.
Do you think people would be interested in investing in a hedge fund that traded the opening only orders? Schindler Trading has had success with this strategy in our proprietary accounts and are considering including it in the Schindler Fund and/or creating a separate, pure opening-only, single-strategy fund. The minimum investment would likely be $20k, the same as the Schindler Fund.
5 for 6 today....still holding the last one for a bit....I'll post the total a bit later. Note to Aaron: If someone wanted to put up $20K, why wouldn't they simply join a firm and do this for themselves....keep all the profits instead of sharing?? The same thing applies to you....why share profits? Just a comment...Good Luck with your ventures. Don
Uhhh, some people work for a living, or have professional careers, or choose to spend their time in service to mankind etc....and they look for places to invest their money....duhhhhh. Always marketing, always marketing, always marketing....... It is an amazing fact, but there actually is a world outside the realm of prop firms.
Don- What am I missing? I just can't find any value in this thread. I know theres plenty of crappy posts around...but this , coming from a firm partner, just seems to have zero value.
I realize you prefer to do it yourself, Don, and are probably not interested in having someone else manage your money. Hedge funds are for people that don't want to or don't have time to do it themselves. Like all the people in mutual funds could research and invest in stocks themselves, but instead they choose professional management.
Geez, don't read so much into my comments...I advise everyone to stay out of mutual funds as well....why pay someone else to underperform the overall markets (as statistics show). I think hedge funds are fine for some, but I just think that this board caters more to traders than investors. Back to trading... Don
Perhaps if you took the time to think before making comments, people wouldn't read so much into them. This forum includes traders, investors, swing traders, etc. You are so darn myopic in your thinking, it is just amazing..... Besides, on a purely statistical basis, it would make more sense for the average person to invest their money with someone who had proven their ability to trade the opening on a consistent basis. More than 75% of those who go to work for you Don, eventually fail, even with your "foolproof" system. That indicates to me that the majority are not able to execute the system. So it makes sense to pay someone else to do it if they have a proven ability, and allow those people to find a profession that they are more suited for and can have success with, investing their money with professionals rather than being an amateur investor makes sense. Not all people have the time, ability or inclination for trading the opening. Geez, do you expect anyone to believe you are as naive as you pretend to be?