Sure... 1. I generally go 5-10 cents lower, keeping in mind that it is possible that I get the price I'm entering. 2. Depends on the individual stock, some "whacky" volatile stocks may actually try to get it there (very, very rare however). 3. I never go to market, I would cancel my offer and probably wait for a slight reversal (I may even put a big bid in, lower then their bid, thus showing support for the stock....this can be tricky however, so be careful). Good Luck.... Don
You're more than welcome..... Today was textbook....filled on 4, profits on 4....+ $790 (39 cents). FRE and FNM were covered quickly with slingshot orders.... All orders were completed by 9:35 this morning....and we had students in to watch today.....(made money on all the "student" days this week.... ) Don BTW .85 envelope, using 1.70 FV for December futures...
Don, Are you exiting all or only part of your positions with slingshot orders? Sometimes the first print is the start of a great trend and if you are all out with a slingshot order, you can leave an awful lot on the table. I always use slingshot orders, but usually for only about 1/3rd of my position. This gives me a cusion for those nasty reversals and can make a potential loser into only a scratch. If it's the start of a bigger move, I've still got most of my size. Today I had 2 longs and 3 shorts, a loss, a scratch and three wins, +.33 gross. Got out of NKE and DD way, way too soon.
By golly, I think you've got it!! lol Yes, only use the slingshot for those "quick reversals"....and cancel them if the stock looks like it's going to keep going in the right direction. The "slingshot" will protect you if you have too many orders to watch at one time... Monday: 3 for 3 + $740 (37 cents).... Don
Good opening....nice fills on both sides. Filled on 7, 6 winners, 1 scratch....made about $960. Had bootcampers use 1.0 envelope, warned of possible oil stock concerns (which were offset by the up opening at first). Only got executed on 1 "slingshot" ....had great "waves" (both up and down) to ride....3 shorts, 3 longs for the six winners. How'd you all do?? Don
only put in 7 stocks...zero fills.....had a 1% envelope Don, on avg , how many orders do you enter on the open? Do you have it automated? Some people have told me about a way to write macros to do a lot of orders. Thanks Uptik
We offer automation to all our traders. I personally use the same 16-18 stocks every day. The automation helps because you can place all the orders with one click right before the opening. Some traders put in many more, but I find that a good consistent daily game is what I like to show people. Don
I had 6 longs and 7 shorts on about 65 stocks. 3 losses and a scratch, the rest were winners. Made $1.03 before commissions.