I caught the "paging Don Bright" post, and the "jinxing bootcampers" post.... and all I can say, is that I have taken a few days off from doing openings (skipped taking my series 63 for the second time)..... but, the bootcampers did pretty good today. I should have a full crew (well, 8 anyway) this week (of bootcampers). We have a few from Bright Securities "straggling in" . And I will get back to doing mine and some posting up of their results. Yes, it's not been a great month for OO's for everyone, let's hope October is better. Remember, volatilities are way down as well, so try to take smaller profits!! (nickels and dimes are good!!). Good Luck.... Don
i have slowed down to almost nothing for fills on oo plays too. im just not willing to enter on an open for a nickle unless that stock is a buy on a daily chart.the rr just isnt there. we dont seem to be getting the imbalances anymore unless there is news. when i read about all these guys who have automated oo and are sending in 100s of orders it would make sense that the imbalances would be eliminated by people tightening up their envelopes to get fills.
when yall say you are having a bad month, what are you comparing it too? i have been following yalls trades in this thread. what is an average for a good month? don- how quickly do you get your campers doing oo's? (how do they usually respond?)
Most recent net profits in OOs for me: JUN - $5459.80 JULY - $6405.20 AUG - $2823.28 (2 weeks vacation in Hawaii - so only 2 weeks trading) SEPT - $9 bucks net! JUN and JULY are basically AVG numbers for the year for me... Anyone else? Patrick
I've been doing openings almost 2 years. July '02 to July '03 I averaged a pretty consistent 6 grand a month net. August '03- down 2 grand, Sept '03 with one day to go- down 500 bucks.
I haven't read this entire OO thread so forgive me, but question to Lescor: what was your average monthly Return on Capital? Or, what account size would one need to generate an avg. 6K per month in an OO-dedicated account? Thanks.
Immediately, since I like to give them confidence right away that they can show "green on the screen"....this group is doing well so far..... Don
Don or Lescor, Do you guys ever wait for the stock to open, drift further away from the gap, then get in to avoid getting shaken out?
We never look at "return on investment"...since it doesn't apply to trading (how much is your time worth, your expertise, your training, etc.?). Since our people may "use" (not "abuose")a $mil or two during the opening, but only have $25K in their accounts.....they are making money based on their labor, not their capital. If someone makes $5k per month doing openings, with $25K in their account, are they really making 20% per month? (pretty good, but a false interpretation). If you trade with $5,000 and make a 100% ROI, then you you'll find it pretty tough to survive on $$3500 per year (after taxes). You get the idea. Traders are rewarded (paid) for their labor, not simply the amount of money they have. The money is simply the fuel/tool that allows them to generate an income. Don