BobP and all. . I bought more PLCOP first thing this morning. . .and caught it first try. . .know why??
If the ask is 7/16, I offer 1/2. . . if it is at 1/2 and moving quickly, I'll offer 7/8. . . so I miss an 8th here or there. . .as long as I don't miss the BIG moves. . it all comes back.
The most FRUSTRATING trading days I have ever had, were when I tried to tempt down the ask to save a sixteenth or so. . . then suddenly volume comes in, I must then "change" existing orders, then get confused or fill out order incorrectly, while the stock is flying. . and I am chasing. . . .and wind up either buying the high or quitting altogether. And all to save a few lousy bucks.
Ben Franklin said it best. . ."Penny wise. . .pound foolish."
I don't trade like that anymore. . .way too frustrating to have to watch 8ths all day. . . NOPE. . .if I want it, I place my limit order above the ask. . . if I want OUT and the stock is not very active, I will leave with a market order. . . generally the market is breathing too quickly to try to time one trade. . .and more often than not, if I try to get out with that extra 8th, I will forget all about it while waiting, only to come back to find it down 20 percent. . . No way.
Hope that helped some folks here.
Rande Is |
