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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime
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To: Ward Nicholson who wrote (23811)11/8/1999 8:21:00 PM
From: Vitalsigns  Read Replies (1) of 62348
 
Ward

I appreciate the time you spent writing your post and would
love to see more people actively discussing trading ideas
after hours. I, myself, see market depth as a tool for
finding out liquidity or support levels but I find that
initiating a buy, or sell, based solely on wether it is
weak or strong will cause me to lose money more often than
not. I have seen the situation occur of which you describe
in your post but I also see just as many times where a
strong MD leads to further strength in the stock price.
MD is great when buying or selling a large position as you
can figure out ahead of time how much it will cause the
stock to move and play accordingly. It is also good for
watching institutions place fake support and resistance
walls ,only to watch as they pull them away before the
stock moves. One of its biggest weakness's is the fact that
all you see are basic limit orders, and cannot see any
special orders like All or nothing or Minimum lot fill
Orders which institutions love to use to hide their orders.So until we can see MArket by Order Depth than we as
retail investors are still at a major disadvantage against
brokers and institutions who are able to ,(like the old
saying "Play us like a fiddle")

I hope this was helpful, It's been a long day for me and my
eyes are beginning to feel a little heavy <gggg>

Vitalsigns
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