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Non-Tech : Sungold Gaming International (SGGNF)
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To: Cyrus who wrote (1788)2/16/1998 11:04:00 AM
From: Gene Veinotte  Read Replies (1) of 5164
 
From Stockman Forum, on trading OTC stocks:

Hi LeRoy;

Here is another item of interest for everybody. Most of us trade OTC
shares.Therefore there are a few useful tips to follow:
Thinly traded stocks [most of OTC] means take care of the MM's.These
guys will clip you every chance they get.Suppose they see a bunch of
buy orders come in for a particular stock; they jack up the price and
widen the spread between bid and ask. Make it more difficult for
them!!!!!
1/ NEVER I repeat NEVER use a market order.It's a license to steal
for the MM.Always use LIMIT ORDERS which specify the price.Limit
orders are usually: day-only;or good until cancelled.[ usually 30
days].Use the latter method.
2/ NEVER buy all your shares at one go.This could be a green light
for the MM's to do their dastardly deeds.Buy only 25% of your
requirement; this means at least something should the stock go up.
3/In future buy's, a good practice is to make limit orders mid way
between the bid and ask price.This
makes it harder for the MM's to rail-road you.
Finally, and most important, be patient.Most OTC stocks can be
volatile; so if you see a big jump in price; resist the inevitable
temptation to chase it.Wait for it to level out or retract before
buying more.
Practice the above with PATIENCE, it may take longer to obtain all
the shares one wants but in the long term it will prove cheaper-
which means more profits.


CHARRUA

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