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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: William W. Dwyer, Jr. who wrote (914)	4/8/1998 10:13:00 PM
From: Darren	Read Replies (1) \| Respond to of 2120

>> Buy at the Bid, Sell at the Ask With regards to Cybertrader -- One pattern you might find useful is: SOES in, Island out. Pay the Ask, sell the Ask. Just be careful with Island -- you could end up with split fills, which tend to do nothing more than make you real mad. You can always "Smart Market Sell" if you begin to panic, or if you don't want to change the share sizes, etc. CT has a feature that finishes the offer automatically, but it usually doesn't hit, and you have to do it manually anyway... Also, in terms of buying on the bid, I have more success with Selectnet than Island. My ideal trade is usually a SOES Buy and a Selectnet sell. This message probably doesn't belong in this thread, but if you have buying options with your trading system, you might find it useful.

To: William W. Dwyer, Jr. who wrote (914)	4/10/1998 9:23:00 AM
From: Ken Wolff	Read Replies (1) \| Respond to of 2120

William, Generally I play stocks that have a rhythm. The implication of my style of trading is that when I decide to buy the stock is 30 seconds from an uptick so I "EXPECT" the stock to go up and I buy at the ask price with a potential of over 1/2 pt. or I will not do the trade. If I get any selling overcoming buying I will exit the trade and admit I was wrong. So it sounds like you may be attempting an "iffy" scalp type trade where the stock can go up or down. I stay out of these type of trades and so prevent most of the problem you are referring to. I really don't care how fast or slow I get into a trade. I recognize by the action the expected direction and bail when wrong. Good Luck Ken www.mtrader.com