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

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To: Ken Wolff who wrote (2027)10/3/1999 12:20:00 AM
From: E. Davies  Read Replies (2) of 2120
 
Ken,
Could you consider talking about the mechanics of getting the fill? I've found that doing what I consider "momentum" trading (buying into buying) extremely hard because of the difficulty of getting a proper fill.
What it too often boils down to is that by the time someone is willing to sell to you the gain is mostly gone. Selling into a dropping market is even harder...

I've had some superhot stocks that I decided to buy at 140, could not get a fill until 150, tried to place a sell at 160 and had to chase the sell order down to 148 only to see it bottom at 144.

I've tried many various routing methods but nothing works with enough reliability to be used in a professional manner.

Do you simply avoid these types of stocks completely?
Eric
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