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Strategies & Market Trends : Daytrading lessons learned the hard way
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To: GBT who wrote (2)7/29/1999 3:57:00 PM
From: David Lind  Read Replies (1) of 24
 
GBT, I have to respectfully disagree with the word NEVER in your post. I have often found that in a fast moving stock which I want to short, the only way to get into the action is to place a market order. It is sometimes extremely difficult to hit an uptick with the right limit order at the right time. Of course, if one takes this route, then one needs to quickly cancel out the order if price continues to run without an uptick. I use Datek, and I am not pitching them at all here, but often a market order placed on their express server is filled on their ECN as a limit order if it can be matched quickly. This is especially useful when placing fairly small blocks and you want to get into a short. It's not perfect, but nothing is.
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