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Non-Tech : MB TRADING
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To: Sir Francis Drake who wrote (4925)6/17/1999 8:03:00 PM
From: -  Read Replies (1) of 7382
 
Sir Drake, I was referring to counter-trend entries for scalps and swing trade. For example, if INTC is in an uptrend on the 60 minute chart and you want to go long it, I would be looking for a pullback on the 5 minute chart and BIDDING to get in on the bid side (not the offer). You are likely to find other ISLD traders bidding too, since they're trained to "play like a market maker", entering across the spread from where you'd normally be able to enter (without direct access).

On the way up, if you're selling into strength they'll often be found offering it out just below the offer, just when you want to be offering it out - so you're "competing" with them... instead of providing you additional liquidity, they often look more like competition.

-Steve
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