Personally, I've not traded at all (was hospitalized during Easter Week)...working part time now. But, that being said, although the basic strategy is still working, it is requiriing more stocks to make the same money...that's what I've seen from my guys. And, we are doing more "pairs opens" both in our normal accounts and our Joint Venture Club accounts... the zero downside plan for our traders. More on this: www.stocktrading.com/jvc.html I would think the VIX would go back up a bit to get things back into a normal cycle.... Don
It would seem like if there was a big edge to entering on the opening, it would be profitable to exit on the very next print. Holding for 15 mins and tape reading would imply that the edge comes from the tape reading rather than from getting in on the opening imbalance.
Having a small edge on entry is not enough to be profitable. You have to know how to trade. That includes reading the market, learning how your stocks act and developing a feel for things.
2 Days, manually with my short list - in front of 35 students. Both small winners up 7 and 8 cents. 1 day automated, slso small, but 7 cents too. Students watched how we make money on the openings with our automated pairs program, pretty cool. "Pair Range Trader." Nice edge... Don
3 for 3 this week (didn't trade on Monday).....for me. Boot campers just tested yesterday...started today...I'll post after a few days to see how theyre doing. A side point. Since so many of our traders (60% or more) trade pairs daily...they are finding that trading the openings using pre-market activity with their pairs is really paying off as well. Allows you to capture that morning profit plus close or add positions at an excellent price. All the best, Don
Yeah, I've had some "issues" involving some personal traveling etc. and have missed some of the best openings of the year. Like last Friday...bummer. I'll post a spreadsheet in June to bring things up to date. Don
been reading through all... my biggest question to all is if trading the open how does one determine if they should trade with the trend or against it? lets say the markets are set to gap down at the open....what would cause you to place short sell orders versus buying the gap down? guess thats the million $ question. thx