Don't think he cares about the results of 3 weeks. he's looking for consistency on a long term basis.
What is your definition of consistency on a long term basis? Positive results of last 3 months? Years? Decades?
I would say atleast 1-2 years. Market volatility changes, the results of 1 month will not represent future results.
IMO, the answer is NO. In the opening strategy your hedge is the good fill you get from the auction that is a little better than fair value. It is very frustrating to see one of your fill going against you and come back just after you closed it. You got to accept that. From my experience, you can't ride the losses and wait because you are looking at making an average of 5 cents and stocks can go 3$ against you before reversing. So play the open, cut the losers and if you want to play your losers by getting back in and trying to fade the initial move this is a completely different strategy.
Lescor(and others), what is your fill rate on OE? If this has been asked before please feel free to yell at me. 2nd question for any OEers. Did anyone get burned on DLR on 10/6. There was no news, but news in one of the companies it leases. Did any news filters catch this?
You probably answered this question somewhere in this thread, but I'll ask anyway: what do you use to calculate volatility of a stock? A specific indicator?
My fill rate is pretty low, a few percent. DLR and other related stocks were down on EQIX news. I got hit in it and a few others. That one in particular was tough to catch unless you were familiar with the company or the industry. I calculate my own volatility numbers for individual stocks.
Another really blah week until today when I finally, FINALLY, had a good day. +15k today, best day in over 3 months. Sad thing is, it only takes me back to where I was the middle of last week. Oh well, maybe there's some hope yet. Today was some options expiration related stuff, a good futures short off the open and some discretionary shorts in the banking sector. +16k for the week on 424,000 shares volume, daily pl was 0, -1, +2, 0, +15