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Strategies & Market Trends : Analysis Class for Beginners

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To: Arthur Tang who wrote (701)	2/3/1998 3:45:00 PM
From: Arthur Tang	Read Replies (2) of 1471

Book of limit orders revisited. Nasdaq Island system has a simple "free" limit book on all the limit orders on the buy side(left column) and the sell side(right column). Shares and limit prices are listed. Island trades by telephone or Nasdaq workstations used by traders or market makers. Nasdaq trading data lists the trade done by the Island system. isld.com This information tells you the existing spread on the buy side or the sell side. Even though it is a small market; it shows most of the internet brokers' listed limit orders. From the info, you can see why one should never expose ones' position in the market. You'll get scalped alive. Market makers can take you out, or leave you twisting in the wind. Paper investing , of course, does not get the real situation. But you can see why paper investing protected by limit orders; does not get real experience without seeing the limit book. Most of the limit orders are small. But if a market makers takes out a big position, you bet, the nice move will begin immediately. You will be a few days ahead of any T/A (technical analysis) guys, to buy into the nice move situation. Need I say more. This web site is a must to visit each day, before you invest. It also shows most people trade by market orders. But that is life, no one is that stupid to get taken out by limit order, or be left in the dust. Microsoft ie4.01 works; but Netscape downloaded Java application x from SUN may give you headaches, if you are not a computer expert.

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