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Hi Chuck,
Tuesday, July 8, 2003, 12:20:13 PM, you wrote:
CR> I think you would find it quite different trading in the States.
CR> I think that most people lurking around on this site actually
CR> "work" their orders. By that I mean that they watch the open and
CR> strike when they think it is right.
That's fine. But there is no way to back test such a system that I
can think of.
CR> An alternative way is to give the order to a broker. But if I want to buy
CR> 100,000 shares and there are only 1,000 on offer, I surely won't get a fill
CR> for all of them at the opening offer price.
With a market order, I would, all of it. It simply would not open
until I was filled at one price. But I would be creating my own
private opening price with an imbalance like that, and would never do
it of course. There would be a huge air pocket in the opposite
direction I would be trading. If I can't dump or scoop 15,000 shares
on the open and be absolutely invisible, I don't trade the issue.
Most days I am invisible. Some days I'm more visible, but I'm never
a factor in setting the opening price.
CR> By me paying 1% commission (actually a little less), I can be
CR> guaranteed getting the open price regarless of how many shares I
CR> am trading.
You are right. It's different here. ^_^
Yuki
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