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Strategies & Market Trends : Trading For A Living

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To: Jim S who wrote (865)	7/11/1998 9:02:00 PM
From: Iceberg	Read Replies (1) of 1729

>DON'T USE MARKET ORDERS on the Nasdaq! >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. >OK, all. Correct me if I'm wrong. Jim, My experience is consistent with yours. IMO, the Nasdaq is a scam operation when it comes to market orders. Pure and simple. On the other hand, my experience with the NYSE has been that they are relatively fair with their market orders. You suggested making no market orders on the Nasdaq. I don't disagree with that approach. But I would go a step further and suggest that frequent short-term traders not use the Nasdaq at all. Especially for those who are concerned about regularly getting clipped an eighth, a quarter, or even more per market-order transaction. Ice

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