David:
Ah, yes, the School of Hard Knocks (HKU, my alma mater).
There are many on this thread much more experienced and wise than I, but I can't help tendering a comment:
"Don't use market orders on Nasdaq!"
Watch the tape (like on quote.com). There will be a normal 1/8 to 1/4 point trading range on a Nastydak stock for a while, and then, all of a sudden, there will be one trade that spikes up or down. When I see that, I know some MM just grabbed up a market buy or sell put in by some poor slob who thought he was going to get the quoted price.
The NY and American exchanges are auction priced, so this dosen't happen there. The Nasdaq, though, is run by MMs who have no aversion to taking your money. If you are LII trading, and can specify the routing of your order, I guess this wouldn't apply. But, if your broker routes your order, DON'T USE MARKET ORDERS on the Nasdaq!
OK, all. Correct me if I'm wrong.
good trading,
jim |
