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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Pierre Borczuk who wrote (115)6/6/1999 5:34:00 PM
From: -  Read Replies (2) of 18137
 
Pierre, Yes you can do that. What would cross/lock is a bid placed at or above the OFFER. With a bid below the bid, you're just giving ARCA some room to work your order (say if the stock's moving against you). It'll get you the highest fills first then work it's way down.

I recommend never using a market order with ARCA, though - it has the same result as throwing a bundle of 20 dollar bills into the wind!
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