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

To: steve goldman who wrote (1077)	6/2/1998 1:48:00 PM
From: LAWRENCE C.	Respond to of 2120

I do some short term trading. Yes, execution quality can be quite important when a stock is moving quickly. Using DLJdirect I can place multiple buy and sell orders concurrently at different price points. If they execute on the same day I can make more money without incurring additional commission. I do multiple buys and sells and look at each purchase of the same stock both separately and together. For example I can buy 1,000 shares, sell it and if there is a dip buy it again and pay only one commission for the shares. Or more likely I can get into a position gradually, by setting buys or sells at different price points. I might bid to buy $x,000 at a price point and another $x,000 at a lower price point. On the sell side I might choose to exit at multiple price points so as the price rises I am exiting my trading stock. I don't want to kill the upward momentum with a large block sale when I have a strong possibilty of selling more at a higher price. If the stock goes down to my target buy price on the same day I may be able to repurchase without incurring another commission. Lucky Lawrence