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A.J. Carisse a écrit:
> Tim and Lynn Lee wrote:
>
> > My advice: Do not cancel replace an order. My own tally shows that
> over 90% of these orders would have been fine if left
> alone.
>
> I can't imagine this being true.
>
> >
I am a private trader and trade TBonds through the desk of a big house
in London. Before that, I traded big size for institutions.
My personal stats and experience confirm precisely the same. I always
put in limit orders. There is no shadow of a doubt one is much better
off not canceling replacing. there is a trick though, which is there is
indeed 10% of the time, you HAVE TO cancel replace, and you have to be
quick or you end up chasing the market. So you have to learn when to
cancel replace soon enough so as not to have to chase the market, but
only 10% of the time...
Really this is one tick saved per side on average on 90% of my trades,
or $62.50 for 9 RTs out of 10: a lot of money indeed if you are short
term trader...
Cheers,
Gwenn
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