The Opening Orders Thread

Discussion in 'Journals' started by Don Bright, Dec 29, 2006.

  1. Another year over with...let's start again for 2007. Corey has agreed to continue his valued contributions to all of you!

  2. Don..

    do you think the record low volatility is dampening the oo profits lately ??

    what's your view ?


    whats up Corey !! Happy New Years to all !!
  3. Not a big problem so far...more shares, more stocks.

  4. Yay! Lescor is my hero, I see his journals and I drool. How much buying power does he use? :eek:
  5. lescor


    Here's my 2007 recap of opening orders, which I've done for the last few years.

    The bottom line came out to net $51,000 on 11 million shares traded. 630 long trades, 573 short trades, 60% win rate. Profit factor 1.4. .5 cents per share net. This is about half of what I projected for this strategy for the year.

    However for me it was really a year of two distinctly different parts. January started off great and I was up $10,000 after just the first 5 days. It turned into a real grind from there though, with decent days interspersed with big losing days that would wipe out two or three weeks. I had two minus $10,000 days, which is about double my previous worst day. It was like there were land mines planted everywhere just waiting for you. After my worst day in late July I was up just $5,000 for the year.

    I took a month off from doing openings and when I started back in late August, I had a smaller list of stocks with bigger size. Just the thick, big caps that are the tried and true performers. I don't know if it was that or something that changed with the market, but I had 12 profitable weeks in a row.

    Stats from August 17 to year end:
    Traded 88 days, Net $42,000 on 2.7M shares. 125 longs, 120 shorts, 66% win rate. 2.4 PF, 1.6 cps net. Profitable for 18 of 20 weeks. This is with a list of about 40 stocks and average size of 5-6,000 shares.

    I doubt I'll change things much for now, maybe add a few stocks here and there and up the size some more. This isn't my core strategy any more. It was the very first strategy I started with when I began trading full time 5 years ago and I've done it almost daily since then. It would feel too weird to me to start the day any other way and I just like doing it. It keeps me fast on the keys, in touch with the market and gets the blood flowing to start the day.

    Have a good 2007...

    <img src=>
  6. OK, I guess we'll go forward here for 2007. 4 fills (USB good, +$1000 on it).

  7. Took some time off & getting back to it SLOWLY.......New thread & New Year, hopefully a prosperous one for all.

    Played it conservative for first day back in a while....canceled HD & WMT on news, entered sell side only, adjusted sizes and added a layer on some stocks.

    One fill short GE +.05

    Damn this stock is so volatile now since it went hybrid. I barely see it print at a certain price & yet you can get filled there. Luckily I put in the slingshot order right away cause it trades all over the place whipping around in about a 15-20 cent range so fast. This is a huge change for GE. I've been covering on NYSE but I need to get into the habit of using ARCA to get the liquidity rebate since there is no price improvment & since my covering orders are usually a few cents away.

    All the best in 2007 to all !!!

    PS - Thanks for all that great info lescor...continued good trading to you in 2007.
  8. lescor


    Best day in over a year, nice way to get '07 started

    <img src=>
  9. kwancy


    what happen to AXP in the morning anyways? May I ask if you were doing the OO or shorting the thrd before the open Lescor?
  10. lescor


    Not sure what you mean by what happened to AXP in the morning. These are all opening order trades, all longs. I was in on the first print of the day and flat them all within about 15 minutes.
    #10     Jan 3, 2007