seems like the safest route to go...I think those guys at Bright will always find the "loopholes"...in trading..I mean this in a good way and they know what I mean... Arbing and "cashing in" on a professional advantage...is long, slow and steady...but the way I like it! hit the singles.... traders, many times....work for it!
3 day school is Jan 15=17, boot camp starts the next Monday on the 22nd. You need to be set up with the Firm for bootcamp. Many take the 3 day and then take S7 exam and then come to the next boot camp. We try to do about 4 of these per year. Happy New Year, Jim.... I hope you've picked up some ideas from this thread. Don
If I have a bullish or bearish bias on a stock, should I still try to collar the opening and then exit quickly, or can I try to initaite a position and ride the momentum from the previous day? For example: if I'm bullish and think more buy than sell orders will come in overnight, should I still try to initiate a long position say 0.5% lower than the close (knowing that I may only get filled a small percent of the time), or just try to initiate a short on open and hopefully scalp a few points? Very seldom do I not have a short term bullish or bearish bias going into the opening. It seems like the collar opening strategy would usually put me on the wrong side of the momentum if I want to try for more than just a quick scalp.
Avoid any bias since we're "fading" the market most of the time. I insist my guys put in both buys and sells, even though there is little chance of one side being filled. Gotta get past the "gee, it's indicated up, so I want to be long" gawdawful thought process that kills traders so often. Have an understanding that the guy in NY is on the same side of the trade as you, and go with him. Take the slingshot for some $$ and then ride the rest based on tapereading and overall market conditions. Don
Don, I'm intrigued by your opening collar strategy. However from a purely subjective viewpoint, it seems that more than 50% of the time, up days have higher openings and down days have lower openings. I'm just concerned that trying to take the other side of the momentum will put me on the wrong side too often. I'm concerned about getting stopped out too often and being nickel and dimed to death. I could always widen the collar, but no matter how wide it is, that doesn't negate the observation that the majority of up days have up openings (and vice versa.) Have you ever tried to collar the FV with stop (or stop limit) orders and catch the momentum in a given direction? Thanks.
how much capital is needed to make 50K/yr with this strategy? what sort of drawdown is expected based on historical data?
Don't lose sight of the basic premise...we are on the "same side as the Specialist" (who has been making money doing this for decades/centuries). We have traders who do nothing but this and make mid 6 figures and more at times. We have various adaptations of the strategy, from simply 10-20 stocks manual, to hundreds of stocks seperated by beta and sector, fully automated with trailing stops....as in any business, some work harder than others. Regarding the capital needed to do this to make some fair money. All of our tradfers with $20k or so can use a couple of $million to make as much as they possibly can. Re
i've been following these threads for a while and i'm gonna start tweaking my opening orders.... So for today (correct me if i'm wrong... I'm using Spot price at 1509.10 and adding a FV of 3.80 (not getting hung up on the CNBC # of .58) = 1512.90. The futures are trading at 1509.25. Am i right to think the market will open down about .0024%? Feels like i'm off a little and the market looks to gap down a little more. thanks...
================== Jim Clark; Some what like an auto dealer[oversimplification], they usually lower prices in SEPT, so may buy a model i have much researched. And good time to sell [eventually] when dealer jumps up the price on new models. Also alert for situations , like a while back, they were jumping up oil stocks on actual take overs; let profits ride, no hurray to sell then.