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Strategies & Market Trends : A Simple List of General Do's & Dont's of Trading: -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (531)	2/9/1998 8:32:00 AM
From: Arthur Tang	Respond to of 769

Some comments on Level II or Level III trading: Information age has brought all the small markets to the forefront. Instinet, Island trading system, Level II or Level III trading on Nasdaq. AMEX created stocks out of no where call them "Diamond"; and rides on Dow index. Many people who are astute, starts to outsmart themselves, to pit against the market makers. Discussions, on the internet on strategies and other items of interest to scalp the market makers, have an inherent fault. If you find a loop hole and tell it to every one; wouldn't market makers plug up the loop hole on the second investor. Or the market makers are on the discussion and mislead you blindly. In my experience, if you are a trader, you have to be the first one to get out of the gate. Then, you would have to set your sight too low. Your volume has to be very high, making the trade very risky indeed. The rest all lose out. That is the market makers' strategy. Market orders then is the only way to go. Limit orders are for the market makers to pick off. Some one, who advises you to set limit orders, is waiting for you to drop the money, that he can pick up.