I would disagree with you here a bit DPL. ON NYSE stocks, if I am routing to NYSE not a third market,etc. going with a limit means you sometimes will miss your order for a 1/16...ie. you miss 2grand in trading profits for $64 bucks..
If a stock is 24 to 24 1/8, why screw around at 1/16th. why even put a 1/8 limit? (except for commission costs with limits) the point is, if the stock goes to 26, the most more, since you wanted it at 1/16, i fyou pay 3/16 or 1/8, you lose is that $64 or $125 bucks.
On Nasdaq, with the way the stocks and market makers play around, I would probably use limit orders with limit 1/16 ot 1/8 above the market if the stock is flying. And when its flying up, I am usually selling, not buying.
If you are waiting till last moment, you are off by a few ticks.
Regards,
Steve@yamner.com |
