OK, 6 for six today...+$1320 (66 cents). I adjusted the pharmaceuticals for preopening indications, worked out well. Done by 9:37 this morning!! I put bootcampers numbers in after a while... Don
OK, we always designate OPG, or the opening only order, even if the market has been open for a while, but the individual stock hasn't been. We adjust the the price to reflect the bottom/top third of that indication if the indication is "away" from our bid/offer. For example: This morning in MRK, my initial bid was $50.26 based on FV. The indication was much lower, so I "updated" my bid price to: 49.99 limit. (Limit price on OPG order, not Limit price on Day order). Got filled at 49.35, sold it at 49.60..... Hope this helps... Don
Fri and Mon only entered a few orders, resulting in no fills. Today, entered 25 shorts at yesterdays close. 1 fill on KO. Luckily covered quickly on ISLD for .15 before he ran it. Considering taking him OFF THE LIST...
TXN was good (35 cents), Leh scratch (but I kept trading it, and made some good money enveloping it). I encouraged the bootcampers to start enveloping (manually), making 5-12 cents, repeat, etc. I "led by example" today, with 24 trades in and out so far... Don
Can you please explain "manually enveloping intraday and making 5-12 cents?" How is this done? Thanks
Sure, we manually keep bids below the Bid, and offers above the offer, to take advantage of "trade throughs"...this gives us an edge in the "entry"...we then place exits 8-12 cents away, always keeping a 2 sided market (unless we add more than 2 times to the same side). We then adjust with the market movements. This works very well for days like today....you can average a nickel or a dime, and make some money. Don
Sorry, but we don't have "accounts" to "churn" (as you know)...just helping our traders learn how to make some money....we can't just rely on the Opening Only orders to do everything for us. Don