Re: [amibroker] Buying at open -- In Real Life

["Mark H" <amibroker@xxxxxxxxxxxxx>]

Yes. My system buys/sells at open since I still have a day job. The results have been very close to those of backtest.
I think it contribute to two factors: I use IB which in most cases can get you the exact open prices; my system limits the shares to buy to 1% of 50 period EMA of volume.

  ----- Original Message ----- 
  From: intermilan04 
  To: amibroker@xxxxxxxxxxxxxxx 
  Sent: Tuesday, August 15, 2006 2:30 AM
  Subject: [amibroker] Buying at open -- In Real Life


  Hi all,

  I'm just curious if anyone here are buying and selling securities at
  the open with market orders, i.e. orders are placed BEFORE MARKET OPEN
  and they get executed as soon as the market opens.

  I have noticed that buying at the open might help you get cheap
  shares, but the reverse is also true...you might sell your shares at
  really bad bids.

  The reason why I'm bringing it up is, my system on Amibroker is
  designed to trade at the open. And strangely enough, my system isn't
  doing too well ever since I started using it...perhaps it's because
  I'm getting bad bids and asks by placing market orders overnight?

  I'm not quite sure how the first trade occurs, in theory I sell to the
  highest bidder but with low liquidity of pre-market trading, what if
  the highest bid is absurdly low?

  Any thoughts on this is greatly appreciated.

  Regards,

  intermilan04