You know I respect you immensly...but.....for many the OO strategy just has not been profitable of late! Yes <you> are what I would call a OO specialist and your excellant of trading <out> of bad positions the OO get you into...not everyone has that talent. Can you honestly say that in the last 60 days (not counting yourself) your group overall has been doing real well ..i.e. "consistantly profitable" I know for some tha has not been tru. I'm not trying to e argumentative with you but you yourself had taught me to trade what the market gives you, and I just don;t see the market giving us much (edge) on the OO strategy recently....just my 02cent worth Don....and no hard feelings meant. Regards and respect... mrktwiz
Net $3,185 Volume 342,200 Net cents/share 0.93 Avg fill rate 13.2% Avg gap vs. FV 0.57% Total fills 134 Long fills 60 45% Short fills 74 55% Wins 79 Scratches 13 Win rate 65% Total gross cents $5.22 November was on track to be the first losing month for openings since April but the last week was very good. I had two really bad days (-$1600 each) one of which came from really misreading the effect on the drug stocks after the election, -$1800 on two trades there. About $2400 in losses and missed opportunities from technical problems (software screw ups, internet down). I'll agree with others that openings have been tougher lately, but I'm sticking to it on a daily basis and just looking at the expectancy of the strategy that my stats show. Like most strategies there is an ebb and flow to it's profitability. But it's true, it all boils down to whether or not you can trade. And this strategy is one that is not going to be a good fit with a lot of people's personalities. You get thrown to the lions and can have a lot of exposure very quickly while the market is usually moving fast and when the slippage is at it's worst. It's important to consider those factors if you want to trade openings, it can be a money maker but is not for everyone.
We look for long term and consistent profits. New people go through stages of concern, fear, over-reacting, etc., until they finally get their heads straight. It takes quite a while to get comfortable with this or any strategy. It is still the most consistent strategy for our traders, period. The "boot campers" are going through those phases I mentioned above. Today: 5 of 7 winners $1500 (75 cents). Remember, anyone can point and say what doesn't work....very few point to what does work and then actually set an example by doing it themselves....and that is all that I'm doing here guys. I challenge many techniques and strategies, and rightfully so, but I also support and encourage what does work. Don
You are such an innocent victim of criticism and negativity. Poor Don. There were some very direct questions put to you on this thread this weekend. Any answers?
You know I am the only one who really takes the time to answer questions, valid or not. As I said in the other thread, why don't we have a fun debate about the business, trading in general, stock market statistics, and all the rest....heck, I bet the board would listen in..... Don
Give it a rest Optional. Your disapproval of all things Don is well documented and I'm sure those that value your opinion have long ago incorporated it into their analysis of his posts. I'm beginning to think its just a case of "post envy".
...I can't beleive Optional would take a shot like that sitting down!!!...the least he could do is put up a picture or something that hit's the mark.....I think Optional is getting old and no longer has the comical zing he use to...it's a sad day for us all
Keep your tired Don-bashing shit out of this thread. Deal with whatever ego-maniacal and personality issues you have in the current anti-Don threads that you frequent. He'll answer the questions if he feels like it. And if he doesn't, and they are important enough, the people who posted them we re-ask them.
I acknowledge that I heard what you just said, and I am laughing my ass off at your powerlessness to do anything about it.