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)	8/9/1998 5:11:00 PM
From: AHM	of 2120

I fully agree with #1402. Old proverb: "Be careful what you wish for ...you might get it". I customarily go in the middle unless there is a large spread - then I try to get closer to the ask than the bid if I'm buying. If it doesn't execute quickly I cancel and wait to see what is happening. As the poster of #1402 pointed out, you don't want to get caught in a market swing that is going against you and your bid or ask is one of the first trades in a large movement in the wrong direction. If the market seems to be trending strongly in the direction I want to go in, I'll bid at the ask if I'm buying so I don't miss out on the gain in value. A good thing to look for is the volumes at various bids and asks to see if it appears that demand or supply is stronger. This sometimes (but not always) is helpful.

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