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Hi all,
I'm just curious if anyone here are buying and selling securities at
the open with market orders, i.e. orders are placed BEFORE MARKET OPEN
and they get executed as soon as the market opens.
I have noticed that buying at the open might help you get cheap
shares, but the reverse is also true...you might sell your shares at
really bad bids.
The reason why I'm bringing it up is, my system on Amibroker is
designed to trade at the open. And strangely enough, my system isn't
doing too well ever since I started using it...perhaps it's because
I'm getting bad bids and asks by placing market orders overnight?
I'm not quite sure how the first trade occurs, in theory I sell to the
highest bidder but with low liquidity of pre-market trading, what if
the highest bid is absurdly low?
Any thoughts on this is greatly appreciated.
Regards,
intermilan04
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