Sure, if I get several fills all at once, I put in a 15 or 20 cent "winner" closing order in ....while I watch the tape on the other stocks. If I see "green" (profits) on my position window, I want to lock it in before a "whiplash" effect.
No, go ahead and put it in...if you make 15-20 cents great....if the price gets close, and things have settled down a bit, cancel it...the ol' "cancel if close" order - mentally. This way you're covered it the stock moves right back against you, and yet you may be able to "let it ride" if things settle down, or worse case you made 20 cents.
I think I was just so dumbfounded by the guy offering me a 23 cent profit immediately after the fill that my brain froze.
Don't forget today is expiration day for options....we have all "buy imbalances" on our screens this morning....perhaps widen out your envelopes a bit before the opening..... Be sure you guys have all this "stuff" on your data feeds...this is pretty important... Emini's moved quite a bit after 9:15, check out your orders...
Good example of "slingshot" defense this morning on TXN....I immediately put in a 34.01 bid to close the opg trade, it was filled at 34.00 and then the stock bounced right back to 34.10... Don
Yeah, I _DON'T_. One more reason why I am going prop. Tell me about it. I noticed the move above 1130 right before the open on the e-minis, decided to adjust TYC from sell at 31.45 to sell at 31.53. Needless to say, TYC opened at 31.45 and headed straight south without me in it for the ride Seeing that you were thinking the same thing, at least I feel that my thinking was along the right lines... nitro
widened envelope to .9% (on each side) and ooched the sells up as the futures moved up. got 2 fills, 2 winners, netted 17 cents after commission. Now I'll go back and see what kind of fun I missed out on with the wider envelope.
no fills again today - gotta get some new stocks! had a .75% envelope, and adjusted for the futures move right at 9:29! oh well
Remember, we're looking for consistent winning trades here...and, yes, we could have made more money if (we woulda had more fills) if (we held on longer), and all that....but I like to see the longer term profits.... Increase your share size when you feel comfortable. Not too extreme, but we recommend about double your normal trading size for our people.