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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: gbh who wrote (825)	7/8/1998 11:56:00 PM
From: Darren	Read Replies (1) \| Respond to of 1729

I guess my real question is how often do you use limit orders when momentum day-trading? It's one of those things that takes a few months of experience to figure out. I kind of think of it as "fishing," and yes, there are many times when you place an order on the Bid and the stock immediately downticks, but you have to think of that as saving you 1/16th, and in this game, that's dough. One thing Cybertrader added is an ISLD book, where you can see all ISLD orders on the Bid/Ask in any particular stock. BUT, the real value in having such a setup is when selling or when scalping wide spreads. Say it's 50 1/4 x 50 3/4. You place the Bid at 50 3/8, and then the Ask at 50 11/16, and you scalp 3/16-1/4 all day long. At least some good traders do -- I don't try that stuff over an ISDN. To me it's control. You control your own destiny... And how do you route most of your orders on CT? Mostly ISLD. Sometimes SOES Market Buy, ISLD Sell. Sometimes Selectnet Preference Buy, ISLD Sell. Sometimes Schwab! But mostly ISLD Buy (into weakness), ISLD Sell (into strength). I am hoping CT gets INCA. They've talked about it. I think they already have TNTO.