Does anyone have any links to webpages that describe how the openings are determined for any US markets?
BrianB2. --- In [email protected], "intermilan04" <[EMAIL PROTECTED]> wrote: > > Monty, > > You brought up a very interesting point here. > So far, I haven't missed the "open," since I place my orders > overnight. The "open" price you see on Yahoo Finance is the price I > trade with. > > I did a little bit of research on determination of opening prices. > NASDAQ determines the open by Opening Cross, which considers open > market and limit orders at the bell and all market orders that are > open at the bell trade with that price. If you place your order 5 > seconds after the bell, then you might not get the opening price; but > if your order has been open throughout pre-market, you should get the > opening price as everyone else. > > This is one of the reasons why I trade only on NASDAQ now...NYSE and > AMEX do not guarantee such opening price determination, and I am fully > aware of the importance of getting the exact open prices for my system > to work properly. > > Now, it hasn't been too long since I started placing orders overnight; > if I start to get some erratic opening prices, I will do some > investigation and see what I can do. > > Regards, > > intermilan04 > > --- In [email protected], "M Webb" <the_bear_98@> wrote: > > > > You might want to do a sensitivity test to see what happens to your > system if you do not get the "OPEN". > > First run the cases where the High is greater than the Open, and you > fill at some possible price within that range, and then run the cases > where the Low is lower than the Open and you get that price. Here is > an example of the code. This is not "peeking", it is allowing the > price to wander up or down, and you are getting filled at some % away > from the Open. I used to think that fills could be both over and under > the "Open" by a few cents and over the long run, it should average out > to the backtested results. Obviously this depends on what your system > is, but this is what I get with my "Buy on a pullback" system. If you > get fills more than a few tenths of a percent away from the Open, even > if they are on either side, your system can drop like a stone. Yes > there is a magic zone where if you could always buy at the nanosecond > the stock trades a few cents over the Open you make even more money- > BUT you can not let your order be "seen" or of course it will fill and > then the price will drop back a few cents. You have to let the market > wander up and then jump in. Better to just try for "Open" and see that > your system makes money even if you miss the Open. > > > > -- > > Monty > > Buy = Ref(allgood,-1) > > > > AND O/L>=Varopendrop; > > > > BuyPrice = O/Varopendrop; > > > > > > > ------------------------------------------------------------------- ------------- > > > 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/
