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: William W. Dwyer, Jr. who wrote (1614)	10/27/1998 11:18:00 PM
From: Colin Cody	Read Replies (1) of 2120

Bill, with regards to (3) Auto Order Entry - The system can be programmed to enter an order for any stock at any predetermined level, to enter or exit a position. Conditional orders can be pre-programmed to enter a trade automatically at any pre-set criteria. Isn't this very dangerous? For one example:- today DELL was trading in the $63 range but at one point there was an error that came across the NASDAQ tape printing $81 as the traded price. This type of error happens daily the NASDAQ in one stock or the other. If a computer program was triggered to execute a trade based on the last price it seems that you;d get snagged by these tape-print errors. Comments? Colin

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