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Non-Tech : MB TRADING
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To: wily who wrote (1503)10/21/1998 5:45:00 PM
From: Michael Turner  Read Replies (1) of 7382
 
Try this:

In a very fast market, try SNET broadcasting a sixteenth or an eighth outside of the inside quote.

For example, if the market for stock X is 34 1/8 bid for 2000, 2400 offered at 34 1/4, and you want to liquidate your 1000 shares of X...which is ripping against you to the downside...broadcast SNET offer at perhaps 34 3/16. By doing so, you effectively step around the herd of traders trying to get out at the bid.

Sure, you are voluntarily giving up 1/16 of a point...however, you would likely give up even more if you tried to pinch pennies and get out at the current bid like everyone else.

Have fun,

Michael Turner
Author
DayTrading into the Millennium
tradersresource.com
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