rhino... i tend to get out too quick as i have been beat up lately.... i have found that max profit is usually between 08:40 and 08:55 cst... however you do need staying power to hold on... the thing is you must...must...keep good records of all your trades...
Cheers - record keeping, and to some extent staying power (!) are no problem. I already trade here in Europe and definitely understand the value of these things. However, I'm looking to get a hanldle on a new strategy and expand into US equities so all advice is very welcome. Have a good weekend
Thanks Chiguy, right back at you. Rhino - I have no rules on how long to hold, I just like to be flat if there is an economic report coming out. Holding longer is something I need to work on, but in general I'd say I'm out within 20 minutes most days. Each stock is different and has to be played accordingly. See prior posts on building the stock list; there's no real secret in it. Everyone will likely have a different experience, even on the same stock. I'd never say "don't trade ABC" because you might be able to make a killing with it even if I can't. You have to try them out for yourself on small size and see how you do. Good Luck.
Entered buy orders only with .2 envelope & got 1 fill long GE for a small win...canceled a few on earnings Looks like most longs were good
Took yesterday off. Scratch day today as I got filled only on one test position. Congrats to the Giants fans.
9 fills / 9000 shares/ 9 long/ -16.00 widened envelopes a bit... would have been a +600.00 if i wasn't such a chickenshit.... oh well....
OK, back in the office...fighting off a cold/flu...but much better today. Up about $300 yesterday, a nice cool $1,000 today. As always, "coulda been more" LOL. Used a zero envelope since we were opening so far below FV anyway. 9 winners, 2 losers. Don
How do you tell that the open will be below fair value before the open? are you basing it off of the pre-open indications?