DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: LPS5 who wrote (12243)	3/10/2001 1:27:49 AM
From: TheStockStalker	Read Replies (1) of 18137

Thanks for the links LPS5. What was the source of the article (if you may). Very well written and quite compelling. As for the decimalization, today I traded using a new style just for kicks and to see what would happen. I traded the Q's exclusively all day and with my Specialist quotes (and Regionals) suppressed and with all the ecn books turned on. So all I could see were the ecn's with the all the levels displayed. This was only for practice with an all decimal system and to see what scalping these was all about. The action was fast and furious. What I noticed about having all the various levels separated by a penny was as follows....I noticed that price seemed to vibrate around what was the "real" price in endless fluctuations. IOW if the Naz futures were breaking out on a 2 minute chart, then the Q's would do the same but then it would vibrate back down even if the futures and the index were still pushing higher. This was due I figured to the thinness per level, caused by the greater numbers of levels. It was as if I were getting 3 or 4 chances to get on board ! I could also enter on the bid and exit on the offer on every trade. Even on losing trades!! It also made it easy to get shaken out of the trade due to the way it seemed that they were going against you so many times before the real move. It was a fascinating thing to do and I learned allot. One of that things the it did do for me was to make me accept and even like decimals, or at least cause me to not despise them anymore. I for one do not like seeing 256th type fractions and they were gone. I also was able to make small bits of money on over 85% of the trades do the these "vibrations around the center movement of price". This kind of scalping is not what I am in the business for or aspire to do, but it was very exciting and educational. A friend of mine compared it to "Video Poker" because of the intensity and volume of trades we made, except that we could make some money. I agree with the comment in your link about we traders that can adjust probably capitalizing on the changes but the "average investor" being hurt by the very changes that were "so obvious" for helping the public that even the congress agreed. As for Super Montage, I feel in the gut of my stomach, I am probably not going to like it but am going to deal with it too. PDT

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