Originally posted by Seanote
Thanks for the answer SoCal.... ???
Originally posted by SoCal
Sorry Seanote, I'm new to this board and just wanted to give my .02 worth. By the way, I've been watching your posts for about 2 months now and have learned a tremendous amount of trading knowledge. I've traded for about 2 years and wasn't doing very well and your explanations have cleared up a lot of questions I had and spurred additional questions I didn't know to ask. Thanks for all the time you've dedicated to this board and I look forward to future posts!
Originally posted by Seanote
Today the Dow and Naz touched Sep. lows and final support level. Next week will obviously be very crucial for the market's outlook over the next couple weeks.
Originally posted by SoCal
Depends on the volume, spread size, and volatility. Some of my trades on CYMI had 8 partial fills on a 2K lot. It depends on who hits my order since I'll split the spread most of the time. If I feel a run is about to happen and the spread isn't too wide I'll go ahead buy at the ask or vice versa. On other stocks I'll sometimes use the reserve feature and post between 700-1000 at a time.
So when working with large orders there is no actual 'averaging down' strategy being used intentionally to get into the position ... it's more taking what the market gives you at the time your system has a signal... I know some traders like Praetorian2 swear by averaging down to get into a lot of his trades.