GTC orders startegy

Discussion in 'Strategy Development' started by privador81, Sep 8, 2008.

  1. Due to UAUA peak today my friend had GTC buy order @4.00 and got filled.

    It was suprise for me,that he has always a few hundred GTC orders @70-80% lower prize than market prize.

    In other words he collects "lottery jackpots"

    Is it reasonable startegy?
    Does GTC orders decrease buying power?
    Because my friend says,GTC orders doesnt decrease buying power or affect cash balance?
  2. it depends on your system. some let's u put in orders well beyond your purchasing BP, others won't.

    on your's a piece of crap. not even a strategy imo.