Don, Can you explain how a trader uses the opening strategy? For example, Where does one put the stop? What qualifies a stock for the trade? (news, gap, etc) Thanks in advance for the enlightenment
notice this is Part 5 of Don's Openings go through the journals threads longer while looking at more than 100 days and run a search on the opens as it has been covered before quite extensively Robert
I, for one, appreciate Don's input. I have learned a lot here. That being said, I doubt I do much of anything the way he or anyone else does. Opening orders are simple, but are hard to do for a novice. There is a LOT to setting up your criteria for opening orders. 2 Shorts today. WEN +.08, got out in the nick of time. GM +.10, shortchanged myself. It ain't easy folks. But it is doable.
i stand corrected. others want this thread shut down as well for whatever reason. it's obviously used very profitably by some, and no one else on this entire board, especially those criticizing bright and the OO strategy, have bothered to give anybody a working strategy, so until you do, you should be thankful or move on. if you can't make it work, maybe it's you and your unwillingness to put in the work, not the strategy.
Hi Don, I've been checking your OO posts for sometime now, but just signed up as a member today. I will be trading full time as of January and hope to eventually integrate OO orders into my trading repetoire. Speaking as someone inexperienced I can vouch for the fact that the strategy itself is not difficult to understand, it's the implementation that will be difficult. I look forward to further discussions. OddLot
I'd like to thank Don for all of the valuable information he has posted on these threads. This is one of the few threads that actually offers specific, practical and useful information. There is no question as to whether or not this strategy is valid, as many respected traders use it on a daily basis. As to whether or not this strategy is 'easy', I guess that would depend on how much effort you're willing to expend. Trading is not an easy business, what would cause someone to think that success would come without hard work?
Sorry if I sounded a little frustrated yesterday. I even typed out a response that I did not post because I felt that I didn't really want to appear to be "defending" myself. I'll keep posting, and will be doing my best with the new strategies as we implement them. 777's skepticism may be valid for the industry, but I feel it is sometimes a bit mis-directed.... Let's go back to work. Today, looks like a down opening...probably a 1.0 envelope....don't forget to use the March futures for the calculations. FV = zero again (that weird time of year when dividends outweigh interest rate x Time. Don
Don, I heard redi+ just did an update to their software that was helpful not necessarily with opens but with other strategies like trading pairs and baskets, can you possibly post what they added, the redi+website shows no meaningful updates in about 8 months. Have they or are they integrating the bullets directly into redi+ as other platforms have done. Thanks.