Hi Dave, I think buying 5-30 minutes after the market open is a wise way to avoid the opening volatility. As you mentioned, the big moves right after open and you physically have to be in front of the PC is the bottleneck. I might add that I have to have intraday quotes as opposed to EOD data.
I used to sort of trade like that in the past, when I was using Margin power to buy stocks...I was unloading stocks at the open, and buying new ones at the open. Of course, since I had to sell before buying, it served as a way to avoid the open orders at the market open. Nowadays I've shifted toward not using margin and try to automate the process as much as possible. Regards, intermilan04 --- In [email protected], "cohndw" <[EMAIL PROTECTED]> wrote: > > One thing to consider versus Buying At Open is to buy about 5-30 > minutes after opening. This of course requires you to be present at > this time or use automation if you still have a day job. Depending > on the stock, some settle down within the first few minutes and have > much better true liquidity in terms of getting prices closer to the > market average. > > When I have tested using AmiBroker I have moved away from Buy at Open > to buying no earlier than 9:35 am. This gives the market 5 minutes > to settle and go thru its morning gyrations. Of course, you can miss > some big moves with this approach. To find out the potential size > of the profit gain or loss, backtest at both open (9:30 am) and a few > minutes later. If you don't see much difference in the backtest > results then there is definitely a strong gain to be made by moving > away from a Buy at Open. > > Dave > > --- In [email protected], "intermilan04" <intermilan04@> > wrote: > > > > Hi, > > > > I have that statement placed in my system. I download quotes at > > night, scan for signals and make trades next morning. > > > > What's been bothering me is, my system which has worked marvelously > > the past 10-20 years is just not working nearly as good this year. > > > > My strategy is buying on a dip, i.e. pick up stocks that got shot > down > > recently. However, I've noticed that nowadays, stocks that got shot > > down fall even further because > > > > 1. More shorts jump on, and shorts don't cover fast > > 2. Longs dump shares, some willingly some unwillingly due to margin > calls. > > > > Stock prices usually bounce back after a while, but I don't know, I > > guess my timing of entry has been off lately because of this new > trend > > I just described. Hope it will change soon. > > > > intermilan04 > > > > --- In [email protected], "jacklweinberg" <weinberg@> wrote: > > > > > > You might want to ensure a delay (i.e. rade at tomorrow's open) > with > > > the following statement: > > > SetTradeDelays( 1, 1, 1, 1 ); > > > > > > > > > --- In [email protected], "Paul Ho" <paultsho@> wrote: > > > > > > > > Are you sure you haven't "look into the future" with one of > your > > > statements > > > > e.g. buy on open with the price of low being known > > > > > > > > _____ > > > > > > > > From: [email protected] > [mailto:[EMAIL PROTECTED] > > > On Behalf > > > > Of intermilan04 > > > > Sent: Tuesday, 15 August 2006 4:31 PM > > > > To: [email protected] > > > > 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 > > > > > > > > > > Please note that this group is for discussion between users only. To get support from AmiBroker please send an e-mail directly to SUPPORT {at} amibroker.com For other support material please check also: http://www.amibroker.com/support.html Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/amibroker/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
