Stocks & Commodities V. 26:2 (60-61): Q&A by Don Bright
Product Description
Q&A by Don Bright
MESQUITE RETREAT
Hello, STOCKS & COMMODITIES readers! Bright Trading recently held one of our retreats for our traders in Mesquite, NV. We had approximately 70 attendees, including some “non-Bright” traders, who seemed to find the weekend both educational and entertaining. Traders asking other traders questions is always interesting and of great value to the whole group, including the Bright family. I’m going to paraphrase some requests and questions, along with a variety of answers.
My request is for some informal presentations from traders — just a few minutes from a few traders of varied amounts of experience telling their trading stories. Not just stories about their best or worst trades, but about the business of trading. Bottom line, just how did you grow your trading business? One example comes to mind. Don, you said a while back that one trader had made several hundred thousand dollars doing just “opening-only” orders. I would like to hear more about that.
Without giving away any secrets, I’ll do my best to give two differing examples of how our top traders are making so much on this strategy. One longtime trader places “opening-only” orders, with an auto-entry Excel worksheet, on hundreds of stocks and multiple-pricing layers (limit orders, of course). He may get filled on 50 or more stocks that have gapped up or down more than his expected criteria, thus entering with a high probability of success.
MESQUITE RETREAT
Hello, STOCKS & COMMODITIES readers! Bright Trading recently held one of our retreats for our traders in Mesquite, NV. We had approximately 70 attendees, including some “non-Bright” traders, who seemed to find the weekend both educational and entertaining. Traders asking other traders questions is always interesting and of great value to the whole group, including the Bright family. I’m going to paraphrase some requests and questions, along with a variety of answers.
My request is for some informal presentations from traders — just a few minutes from a few traders of varied amounts of experience telling their trading stories. Not just stories about their best or worst trades, but about the business of trading. Bottom line, just how did you grow your trading business? One example comes to mind. Don, you said a while back that one trader had made several hundred thousand dollars doing just “opening-only” orders. I would like to hear more about that.
Without giving away any secrets, I’ll do my best to give two differing examples of how our top traders are making so much on this strategy. One longtime trader places “opening-only” orders, with an auto-entry Excel worksheet, on hundreds of stocks and multiple-pricing layers (limit orders, of course). He may get filled on 50 or more stocks that have gapped up or down more than his expected criteria, thus entering with a high probability of success.
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