Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Ken Wolff who wrote (1985)	6/8/1999 9:07:00 PM
From: E. Davies	Read Replies (3) of 2120

Most of our trades have enough potential in them that executing at the ask is good enough Then you are certainly a better trader than me. (Duh!) I'm starting to find that entering a trade across the spread is almost the only way for me to withstand the shake that often happens after entering a trade. You know: you buy at ask. The stock upticks a couple of times. You are happy happy that you hit it right. Then it downticks. Yikes! You are break even (or even in the red) if you have to sell at bid. Then is when you have to show strength in the stomach. Its pretty common (on the trades I enter anyway) to get yet another downtick. You are back to where you started and therefore you are already at a loss. Sell or Hold? Gets pretty tricky by then. Everyone says dont let a trade go against you, but heck the bid/ask is only break even! What do you do in situations like this? (I know there's an easy answer <g>). This is why more and more if I cant enter long at the bid I dont go for it unless its is one of those high intensity stocks on a run. Eric

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