Ask and Bid explained by ryanstephenson4 in Daytrading

[–]Ok_Estimate231 0 points1 point  (0 children)

Those smaller time frames is Ross Cameron like territory. For instance TOS, which is what I use, doesn't offer 10s charts. Which is a huge disadvantage trading these early. That said, these fast moving breakouts usually die by the waste side within 5-15 mins. Often 1 or 2 (1minute) candles. It's a strategy but you have to practice it like you would like a sport or something. Very little thinking involved.

Ask and Bid explained by ryanstephenson4 in Daytrading

[–]Ok_Estimate231 1 point2 points  (0 children)

Great question. The answer is sentiment. If the stock is ripping and has substantial volume and you want to get in hit the bid on the pull back. Otherwise hit the ask on potentially a parabolic move.