How Can I Buy the bid/Sell the ask?

This is a discussion on How Can I Buy the bid/Sell the ask? within the Discretionary Trading forums, part of the Methods category; Hi folks, Simple question here, but I'm trying to buy the bid/sell the ask without success. I'm trading equities using ...

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Old Feb 13, 2009, 3:06am   #1
 
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How Can I Buy the bid/Sell the ask?

Hi folks,

Simple question here, but I'm trying to buy the bid/sell the ask without success. I'm trading equities using Sterling Trader Pro, they have a function where the Buy price is automatically adjusted to the bid, same for Selling and the ask. I just select Buy -> Bid, and click to Buy.

The limit order for a trade at the Buy goes through, but I never get filled. So at the moment I'm using market orders to both exit and enter trades which makes it harder to trade intraday and encourages my impatience.

At the same time however if I could buy at the bid and sell at the ask all the time, especially in slow markets, surely it would be fairly easy to pick off profits in which case everyone would be doing it. I trade Citibank, high volume with a small spread if that makes a difference.

Is it normal then for limit orders at the bid/ask never to go though, and how can I really buy at the bid/sell at the ask?

Thanks,
Jeremy

Last edited by jeremymgp; Feb 13, 2009 at 3:12am.
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Old Feb 13, 2009, 9:34am   #2
 
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Thats called market making.

Risk though cos you may buy at the bid but the seller may have millions to go so the bid may become the offer
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Old Feb 13, 2009, 10:26am   #3
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i would also like to buy the bid and sell the offer. if someone finds a way to do this 100% of the time i will pay them handsomely.
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Old Feb 13, 2009, 11:00am   #4
 
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The answers are contained in my course

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Thanks! The following members like this post: pelzar
Old Feb 13, 2009, 11:28am   #5
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ooooooh, you're a tricky one aren;t you......
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Old Feb 13, 2009, 11:42am   #6
 
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Quote:
Originally Posted by gooseman View Post
i would also like to buy the bid and sell the offer. if someone finds a way to do this 100% of the time i will pay them handsomely.


I will pay more if someone can tell me how I can move my entry price. Surely there must be a way so that if I get the direction wrong I can just move it!
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Old Feb 13, 2009, 12:16pm   #7
 
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Hedge....

buy and sell the same thing at the same time in different accounts ...you'll never lose



or maybe

never win??????????
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Old Feb 13, 2009, 5:45pm   #8
 
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jeremymgp started this thread Thanks for the help folks, I'm brand new to equities and after trading futures off the DOM with one-click OCO orders I need to get used to all this.

So far I've absolutely never been filled when I enter a buy the bid/sell the ask order even if the price touches the limit several times, I've tried maybe 20 times. Indeed any kind of limit order seems not to be going through, so as GammaJammer says I need to figure out what it is. I'll contact people, see what they say, and in the mean time will buy a 12-month subscription for foredog's course and make sure to refer all my trading buddies

Thanks,
Jeremy
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Old Feb 13, 2009, 5:56pm   #9
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Not quite sure, but i heard the Bloomberg system allows you something that may come close to it. I know they have data that reduces your forex to 1 pip thus making scalping quite possible.
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Old Feb 13, 2009, 5:57pm   #10
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Quote:
Originally Posted by new_trader View Post


I will pay more if someone can tell me how I can move my entry price. Surely there must be a way so that if I get the direction wrong I can just move it!
Quote:
Originally Posted by gooseman View Post
i would also like to buy the bid and sell the offer. if someone finds a way to do this 100% of the time i will pay them handsomely.

similar discussion here? http://www.trade2win.com/boards/firs...e-betting.html
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