Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Rick Faurot who wrote (1400)	8/8/1998 10:50:00 PM
From: Rick Slemmer	Read Replies (2) of 2120

Rick: Anybody have experience buying at the bid or selling at the ask? I am reading a book that says this is a good thing to do... It's also a good thing to find $100 bills in the street every morning <g>. Sure you can buy at the bid and sell at the ask; however, be prepared for spotty fills (I got 9 shares of INTU once in my early days. What the hell can you do with 9 shares?). Also be aware that you may be selling into the start of a rally or buying into the start of a drop. IOW, your odds of being filled are inversely proportional to the direction you want the stock to move. If a wide spread is your problem, try limit orders on the Island; you might find a contra who is willing to buy/sell at some intermediate price twixt the inside bid and ask. Good luck! RS

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