The last week (with students here) has been less than 10 minutes, usuall half that. Don't take out the "news" stocks, just be aware of the news, and adjust your opening prices. Most of the money this last couple of months has come from those stocks it seems. I had 2 people sit next to me today. I moved very slowly, described each trade as I got filled, explained what I was looking at, explained the "slingshot" order on a couple (of 4 fills)...showed how I cancelled and resent prices as the tape dictated. If you ever pop up to Vegas, I would be happy to let you sit in on our "boot camp" for a morning or two (yes, no charge ) Don
An excellent offer, I will remember that. I haven't been to Las Vegas since 1977, and I hate to fly nowadays. But I do appreciate the offer.
OK, filled on 5 +1450 (72.5 cents)...that's the good news..... Then I broke a cardinal rule....trading a "story stock" before the opening.....bought CI (only 1000 shares), but even so, lost 5 bucks on it.... STAY out of Story Stocks, and never think you "know more" than those trading before hours.....no matter who you are!! (Gee, the things I do to help you guys out)...."leading by (bad) example"... Don
Other times of the day, we call a portion of this strategy "enveloping" (the act of having simulataneous buy and sell orders away from the last sale price). We do this to take advantage of the many "trade throughs" that happen on the NYSE every day. The opening only order is even better, because we are assured of being on the same side of the trade as the Specialist (since they can only "accomodate" imbalances). Don
yeah John Q, opening orders also work really well at noon and at 2pm... (btw, you've sure got the market cornered on banal questions..) Hey Don, do u mean u lost $5 on the CI trade? or 5 pts off the price? if u only lost $5 actual dollars, what's the big deal? nothing to moan about apart from the fact that you broke one of your cardinal rules.. (not playing news stocks..)
oh ok. so i take it you're not including the CI trade in the 72.5 cents profit figure? so you really finished the day down $4.27 right? but the CI was somewhat of anomaly, so it's not included right? btw, held it for -5pts?... naughty naughty!