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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: - who wrote (4602)	10/3/1999 4:24:00 PM
From: Tai Jin	Read Replies (1) \| Respond to of 18137

Say a stock you want to buy has turned up and there is a small quantify offered by a MM at 40 3/4. You enter an ARCA limit order to buy at 41 1/8. It'll take out the shares at 40 3/4 via Selectnet prefernce (or fill your entire order there if it can), and continue working the higher levels until you're done. But that's what I was saying. It won't try the next level until the inside is taken out. This is fine in very liquid/slow moving stocks, but it's a curse in less liquid/fast moving stocks. The commissions can sure take away a lot of the profits when you're in scalp-mode, which is my preference in this market. This is especially true when I'm in the hole and trying to scalp my way out. When I do get out of the hole all my profits have been eaten by the commissions. ...tai