StockFetcher Forums · Filter Exchange · A question for the more experienced traders, regarding TRO's filters<< >>Post Follow-up
dccolt
19 posts
msg #55814
Ignore dccolt
modified
10/18/2007 6:25:23 PM

Is it better to place a buy order at market price the night before and just wait for the order to be placed OR wait for just about 30 seconds or so after the market's open to place the buy order? What I am getting at, is there more of a bid/spread difference where I would be losing 10-40 cents or more by placing the order the night before rather than if I wait for a few moments after the open for the bid/spread to close?

The reason I ask is two fold: 1.) Because it seems that there can be a large spread between the bid/ask (sometimes 60-80 cents or more right before the open that quickly diminishes to 1-5 cents after the stock begins actively trading (therefore getting in before the difference closes results in lost profits), and 2.) Hesitation before entry on a stock moving in a favorable direction reduces the probabilities of hitting your target ($.50 or whatever) because the stock has already advanced by the time you get in.

Thanks in advance

jrbikes
624 posts
msg #55817
Ignore jrbikes
modified
10/18/2007 7:01:39 PM

Dont do a market order!

They make millions trading the spread!

Go back and search the gappers, then pull up the charts, look at a specific time frame, a 1, 5, 15, 30 minute chart, whatever you like, then look at the first 30 minutes of trading, mark the high, look at what time the price traded over the 30 minute high, mark it and compare!

The Due Diligence is up to you!

Try this, go to Finance.Yahoo and pull up a few charts, then compare the time frames to price movement, you will be amazed!

Time frames

9:30 to 9:50
9:50 to 10:15
10:15 to 10:50

You get the picture




TheRumpledOne
6,362 posts
msg #55828
Ignore TheRumpledOne
modified
10/19/2007 8:40:14 AM

You can't place an order before the market opens because you don't know the open price until AFTER the market opens.


StockFetcher Forums · Filter Exchange · A question for the more experienced traders, regarding TRO's filters<< >>Post Follow-up

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