DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Dan Clark who wrote (4079)	9/16/1999 9:25:00 PM
From: sun	Read Replies (2) of 18137

While speed is less important when trading longer term, consider this scenario. You've been holding your favorite stock for 3 days. It's gone up 3 1/2 points. Your happy and prepare to take your well-earned profits. Suddenly CNBC announces that the Fed has held a special meeting and voted to raise the Discount Rate and the Fed Funds Rate by 1/4 point. (It could be the Fed, general market panic, or some major disaster.) The market tanks. Your lovely profits are disappearing fast. You enter your limit order to sell at the bid, but your broker is slow and you miss the bid. You cancel and reenter. Miss again. (Don't laugh, I've done it several times.) Finally on the third try, you are out. Total profit 1/2 point! Very true story of my trading. I have been lurking for over a year to sign up a direct access but no time (not yet a daytrader). One question I have to the thread folks is... Will the extended (or to be extended) trading hours be good for Daytrader like you?

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