I've read both of Andrew's How to Make a Living Daytrading books.
He mentions that he sets his buy orders at (bid price + $.05)
I can see how this is extremely advantageous for getting a good entry.
But is this strategy also recommended for covering shorts?
Just wondering because I'm picturing that covering shorts even at market price would be better than not covering at all.
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Covering Shorts with Marketable Limit Order
in Day Trading Strategies
Posted
I've read both of Andrew's How to Make a Living Daytrading books.
He mentions that he sets his buy orders at (bid price + $.05)
I can see how this is extremely advantageous for getting a good entry.
But is this strategy also recommended for covering shorts?
Just wondering because I'm picturing that covering shorts even at market price would be better than not covering at all.
Can anyone provide any insights here?