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Darn it,I had chance to use Yuki's metaphor and I flubbed it.
I should have written hanging out at the " Great watering hole of planet
Earth."
Joe
----- Original Message -----
From: <jelandry@xxxxxxxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Friday, August 18, 2006 10:05 AM
Subject: Re: [amibroker] Re: Buying at open -- In Real Life
> Just heard a web conference by Don Bright last night and as I
> (superficially) understand it,
> the premise of one of his key strategies is to buy at the open. His
> traders help the specialists
> out so to speak. The orders are entered under a condition that they are
> either filled at the open or cancelled.
> Sounds like you've got some protection while your hanging out at "the
> water hole called earth". (love it ^ _ ^)
> I mention this as you might be interested in what Bright Trading is doing.
> Best regards
> Joe
>
>
>
>
>
> ----- Original Message ----
> From: intermilan04 <intermilan04@xxxxxxxxx>
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Friday, August 18, 2006 9:51:35 AM
> Subject: [amibroker] Re: Buying at open -- In Real Life
>
>
> I've been placing market orders overnight, therefore I've been
> entering at the "open." So far, I haven't been screwed with the
> opening price that I've gotten (I made like 10 trades...some gapped up
> because the entire market gapped up several times). This week has
> been a great market, so I'm up 5% this week.
>
> Regards,
>
> intermilan04
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Phsst" <phsst@xxx> wrote:
>>
>>
>> > The simple answer is ... DON'T ... It's like trading with a blind
>> fold on ... Blind folds are only good if you are at the wrong end of a
>> firing squad or the object of humor in pin the tail on the donkey ..
>> Both of which seem to be quite appropriate analogies for this
> methodology.
>>
>> Hi Fred,
>>
>> The best *trading* month I ever had was Feb 2000, where I traded an
>> Ameritrade account which restricting trade times to actual market
>> hours (no pre or post mkt hr trading). (I filtered my trades to a
>> fraction of avg daily dollar volume... and it was an AB trading system
>> I had developed)
>>
>> As you will recall, this was during the 'last gasp' of the dot.com
>> tulip craze.
>>
>> I had an EOD trading system that created next day entry signals to buy
>> @ open. While I had reservations about entering Mkt Orders prior to
>> next days open, I decided to risk a few bucks and actually trade the
>> system with mkt orders entered the previous night.
>>
>> For the next few weeks, I experienced excellent order executions which
>> the majority of times beat 'printed' Open prices.
>>
>> When the 'bubble' burst, I stopped trading the system and have since
>> moved my accounts to IB.
>>
>> Now, I have no idea how IB might perform in a similar trading system,
>> but I don't think there is a way to restrict pre - post mkt executions
>> @ IB.
>>
>> My point is that it is never safe to make assumptions about how any
>> broker will perform on these type of orders, and that it might
>> actually be prudent to take a little risk and find out 'what shakes'.
>>
>> It's only money, right? And there is only one way to find out the truth.
>>
>> Best Rgds... D
>>
>
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