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

To: Jim S who wrote (865)	7/11/1998 3:47:00 PM
From: Char	Read Replies (1) \| Respond to of 1729

Jim Most of my buys are placed with limit orders at the bid. A couple of times I jumped on a fast moving stock and the only way to get filled would have been a market order. I was watching EGGS yesterday and at times it was moving so fast that the bid was increasing 1/16-1/8 every 10 seconds. Hard to catch something like that without a market order if you really want to get on board. When I sell, it usually was at a SOES market order because I wanted a fast execution to lock in my profits before it started falling again. Like I said earlier, I found it hard to play the fast movers and aim to try a different tactic next week. Dave

To: Jim S who wrote (865)	7/11/1998 9:02:00 PM
From: Iceberg	Read Replies (1) \| Respond to of 1729

>DON'T USE MARKET ORDERS on the Nasdaq! >all of a sudden, there will be one trade that spikes up or down. When I see that, I know some MM just grabbed up a market buy or sell put in by some poor slob who thought he was going to get the quoted price. >OK, all. Correct me if I'm wrong. Jim, My experience is consistent with yours. IMO, the Nasdaq is a scam operation when it comes to market orders. Pure and simple. On the other hand, my experience with the NYSE has been that they are relatively fair with their market orders. You suggested making no market orders on the Nasdaq. I don't disagree with that approach. But I would go a step further and suggest that frequent short-term traders not use the Nasdaq at all. Especially for those who are concerned about regularly getting clipped an eighth, a quarter, or even more per market-order transaction. Ice