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Strategies & Market Trends : Level II Trading -- Ignore unavailable to you. Want to Upgrade?

To: Cader who wrote (263)	2/27/1998 8:27:00 AM
From: DRRISK	Read Replies (2) \| Respond to of 1086

Cader, I trade and want the stock I am after. I am position trading and not scalping. I will buy 3-4K thru selectnet at a price that I am comfortable at and get 26,000 shares of an Oxford in a day or three. When I want out I get out of my position thru selectnet in two to three minitues thru selectnet or trim position thru SOES 1K at a time to suit my needs. I got out of an Oracle positon 18000 share positon I traded on the option expiration play with a $8000 profit in 5 minutes at the top of recent market(sold 11K at early part of day at 26 and then the stock dipped and rallied at end of day and sold the other 7K at 26 15/16 at end of day rally that started from 25 3/8). I was out of office and had instucted Cyberbroker to watch my position and trade out if stock was over 25 3/4 and I was not back for the close, as it turns out I got back at 3:54 and called them and the stock was at 25 15/16, we had a deal that if I did not call at 3:55 to trade it. They were ready when I called and I took the position and Selectnetted to BEST(I think) who had been the Ax buying shares and he took the 7k immediately at 3:56. I will try and scalp off my long position but this is not my strength and am looking to learn from the thread on these issues. I have a full time day job and am playing the market with the Cybertrader to utilize their TA support to improve my entry levels and timing and executions. I have bettered my entry points by several points on my position trades and feel that it has dramatically enhanced my abiltity to pick shares off at better prices from the ask. Yes I do eat the spread typically because I do not have the time, I think to get bounced when I want the stock. It's hard for me to follow the market closely enough to scalp from the ECN"s. If you have any suggestions I am all ears. As to pricing of trades please ask Cyberbroker. DrRisk