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: Sheri who wrote (1405)	8/9/1998 12:01:00 AM
From: Jerry Hall	Read Replies (1) of 2120

It has been my experience that if I am going to enter a trade, it is because I think the stock is gonna move so I buy at the ask to assure I can get in. I use to fool around and try to buy at the bid, but 90% of the time I did not get in, and the stock moved away from my price while I watched. But if the spread is more than 1/8 I usually pass on that trade and wait for the next one. 1/8 is an acceptable risk. And partial fills will kill you if you are trying to daytrade. Only your broker makes money. A partial fill is a bad trade, I exit right away take my loss and move to the next trade. In answer to you question, if you buy at the ask, and there are MM with enough shares to fill your order, it matters not whether you use arca, isld, soes,selectnet, you are going to get in on the move. Jerry

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