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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: snerd who wrote (1931)	12/13/1998 3:09:00 PM
From: BANCHEE	Read Replies (1) \| Respond to of 56532

Snerd I use Waterhouse and have complained to them about their service...They now have 20 servers and are adding 50 more.With 70 servers they should be in good shape.They are working on a way to keep their window of trading open longer..This getting timed out by them sucks...When you do make a trade, I find them fast. All this has to be taken in consideration when trying to place a trade in a fast moving stock...I sometimes shoot ahead of a stock if I feel it is moving up or shoot behind if it going down or use a market order instead of a limit order. This only comes with experience. Position Trading is buying a stock with the idea of selling with or without a target price when the event that you think is going to happen, happens..like I buy RADAF because this is their time of xmas sales or IOM because their next quarter is suppose to be profitable or PREI because their next quarter is suppose to have a lot of revenues. All these should go up before the Q is reported and then I sell. Position could be long or short term..Remember Buy on rumor, sell on news... Banchee

To: snerd who wrote (1931)	12/13/1998 6:17:00 PM
From: Poet	Read Replies (1) \| Respond to of 56532

Hi snerd: I use Waterhouse as well and tend to agree with BANCHEE about them. Their website is slow but executions tend to be made within a reputable amount of time. One thing I suggest is NOT using a market order on a fast-moving stock, especially at the open. It's like jumping into a rain-swollen river: you don't know how far downstream you'll be when you break the surface. In the case of ASTM, for instance, if you saw that the price was declining rapidly (and you can do this by refreshing your real-time quote a few times), place a limit order to sell a bit below the current bid. So, if the bid was 3 1/8 and going down fast, place a limit order to sell at 3 1/16 and keep a close eye on it. Chances are you'll be picked up. If you place a market order in these kinds of circumstances, not only does it take much longer to get a confirm (a confirmation from your broker that the transaction has been made) but you will have been executed at the market maker's price, not your own. Poet