I had late fills in FNM and FRE on Monday, cost me a couple of grand.....since I didn't even know I was filled until an hour after the stock opened (damnit!!).. Tuesday was ok, about $300.... Don
Purely my fault....I had my "open order" window defaulted to LEH, and so when I double checked to see if I had any orders still active, it showed that I did not....but I did, and then I got busy downstairs..... Don
As a student in Bright Trading's weeklong Training Course I'm confirming Don's OO today at .05. Don't know how he does it with 20 pre-opening students looking over his shoulder as he manages his positions.......
A tale of woe! KSS today; absolutely no news. Stock opens at 52.5, up $1.44. A great opening short right? Never trades even .01 lower on its way to a high of 54.80+ Don, anybody; what does one do about that? While your busy unwinding the "winners" for 10 or 20 cent profits, the KSS's of the world can cost you a point or more. Beginning to think this strategy makes no sense. Sure you may have more winners than losers; but you seem to lose alot more $ on those losers than you make on the winners. Any words of wisdom out there?
Take KSS off the OPG list. If you track it, in time I think you will find he does not work most of the time.
it seems to me this is a high win/loss strategy with lots of small winners. But I'm no expert on this strategy, just evaluating it. Anybody have stories of large losses wiping out a weeks worth of profits ? That to me is the danger in this system since I don't think Don uses stop losses with this strategy.
When I say "stop-loss" I don't mean placing an actual order as a stop..but rather if I'm short something, the futures are ticking down..and that stock is going the opposite direction of the futures, I'm going to pay the most attention to that position. If I am down more than .20-.30, If it doesn't show any signs of turning, i'm gone.....that's what I mean by a stop. I watch the ones going against me the closest. cas