Discussion in 'Trading' started by hoodooman, Mar 5, 2004.

  1. Got a signal on apple today to go long but when I clicked it up the stock was moving up but the prices were crossed, 99% of the time, all the way up. Wanted to enter with a market order but was scared to because of the almost continuous cross.

    What should I have done in this case.
    Thanks and regards to all.
  2. Mecro


    ever hear of market orders?
  3. Hi mecro
    Since the price was going up rapidly and the bid was always greater then the ask, I figured that I would get filled at the top with a market order.

    Please explain your point.
  4. lindq


    You have only three choices. (1) Enter a market and take your chances, (2) Enter a limit and take a chance that you won't get filled, or (3) Do nothing.

    It ALL depends on how much you want the stock, and how important a specific price is to you. Only you can answer that.
  5. In my case, I was trying to scalp. Have had no luck with limit orders in cases like this. Thanks lindq for the reply.
  6. Mecro


    If you want in, sometimes you gotta take the chance. In fast moving stock like that, you actually expect to get in at the bid?

    The whole time you could have just went market and gotten filled instead of watching the stock go up and up while wondering how to get in.

    Or you could have tried limiting up as high as you were willing to pay.
  7. Thanks mecro.
    I'll go market next time with small number of shares and see what happens. If I don't get a fill, I guess that I could try to cancel. Had bad luck doing this on IB in the past.
  8. prox


    If you're going to scalp, you really ought to be going market in , market out. There should be a relative zone of entry, but nit picking over the exact tick to get in is unnecessary stress.