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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: Reloader who wrote (2328)	4/11/1999 6:52:00 PM
From: William W. Dwyer, Jr.	Respond to of 3216

Dave, With Delta orders, I've had pretty much the same experience on buys and sells. Personally, I think if the trade seems to suggest the need for Delta orders, it's probably too risky and should just be avoided. The Delta order only gets you a worse price in a trade you maybe shouldn't be in anyway, imho. Regarding SNET broadcast versus preference orders, I think most people agree the preference order is better for several reasons, one of which is that the market maker is more likely to see it and has to act on it within a certain time frame. On the broadcast orders, they usually seem to get ignored, just wasting you time and costing you more dollars. Regarding your "deer in the headlights" remark, I agree. When you find yourself in such a situation, it's probably best to get out quick, don't worry about what "might" happen. It could get a lot worse quick, and you can't afford that. Better to spend your time thinking about how to avoid such a troublesome, risky, stressful trade in the future. My experience is that the longer your anticipated time frame for your prospective trade, the better your chance of success, less risk, etc. For example, if you feel you need an instant execution to enter the trade, and if you only expect to be able to make your target profit-price in a few minutes, that puts a lot of stress on you, makes a lot of demands, requires a lot of things to go right.... and they often don't. However, if you anticipate being in the trade for an hour, or a few hours, all day, or even several days/weeks, then you have time working on your side, much less risk, much less stress. In fact, if your trade is going to last a day or more, you can do pretty much anything you want, including allow all your hardware and software to fail completely. You can simply phone in your order. Of course, your rationale for the trade still needs to be good. :-} But you're not depending on anyone other than yourself at that point. In that regard, I have seen stocks that appreciate 50% - 100% or more in a few weeks. Many times. And I've daytraded them a bunch of times and maybe lost money. Any old fool who simply bought and held the stock for a few weeks maybe doubled their money while I lost mine and worked all day to do it. If your rationale for the trade is right, your stock will go up in time. But having to sweat every tick, each and every little intraday reversal, that's not easy to do. And, in some ways, it makes no sense, agin, imho. Good luck, Bill