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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (13783)	3/23/1998 8:30:00 AM
From: Steven Bowen	Read Replies (1) \| Respond to of 53068

<How about this: <Set up a spreadsheet (or a piece of paper) <Put aside a set $ amount for these types of trades. <Keep an exact count of the number of times you try this methodology. <Count the # of times it clicks as planned ie, how many times you fill (calc the %) <Track the total # of win/loss trades on the fills and the end $ gain/loss as a % of your equity for these trades> Ron, I'll try to do this, however it can only be as my time allows. I get called away during the day too often, makes this kind of trading pretty dangerous. I'd suggest you guys play with it a little to try and get better prices and see how things work for you (I'm kind of suspicious it may work differently for different people depending on how your broker handles trades, ie as a MM, sells them for order flow, where they route them, etc). You don't have to be going for a flip or scalp. If you want to buy a stock to hold and it isn't moving much, and the current quote is 16 by 16 1/4, try putting your buy limit at 16 1/16. After a minute or so, if you aren't filled, watch if the bid rises to 16 1/16 to reflect your bid. The next person to sell stock should sell to your bid, so the next print at 16 1/16 should be your fill. Don't try this if you want a stock that is moving, as in this case the MM's will just raise their bid to 16 1/8 and shut you out.