Institutional Orders

[jellob]

How are institutional orders executed? I always thought that funds would want their orders filled within a range. However, market profile do suggest chasing, by claiming that institutional orders are coming in when the price breaks the intitial high or low. Can some one clarify for me? Thanks!

 

[jellob]

I am writing a trend-trading program. It works best when the stock is trending for the entire day which suggests chasing. Some stocks make a lot of money, consistently over six months, and some lose a lot. So my thinking is that it has to with stock selection, but so far I am having a hard time determining the selection criteria.

I have thought about using earning surprises, since many funds do not like to be caught on the wrong side of surprises, but I don't know how to test that extensively.