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Pastimes : How to Lose A Lot of Money On Market Orders -- Ignore unavailable to you. Want to Upgrade?

To: Tom Swift who wrote (4)	9/13/1999 7:28:00 PM
From: Lazarus	Respond to of 6

Market Orders can be dangerous....BUT... ...they can be placed at times without any problem. One of the big problems that you have with online trading is that many of the smaller discount houses do not have there own clearing firms. If you have a broker that has there own clearing firm --- and you trade regularly with them --- you can safely place a market order on some stocks at some times. If the broker quotes you a market price and tells you that you can get 5k at the ask....and there is no current activity in the stock...and you place your order...it should get an honest fill. If not you raise HELL! I have had fair share of crooked fills CORRECTED just by referring to the RT trade log on b/a. It is safe to say that one should NEVER EVER place a market order on a stock for a quanity of shares ABOVE the b/a quanity which is usually ranges between 500 and 5000 shares....and you should NEVER place a market order on a stock that has a high volume of shares being traded. Lazarus