I used Hippakonstistai extensively early in my Epirus campaign against the Romans. At that time I had no real heavy infantry to match the Roman except some Thorakitai (the Romans always flanked any phalangites so I had to change my doctrine for the Italic theater of war). While the Roman formations marched towards my lines, my hippakontistai would ride ahead and pepper the Roman Principes with javelins from the sides and behind or even lure them into chasing them (the hippakontistai, I mean) thus minimizing the heavy-Roman-infantry-impact on my own lines. As the fight drawns on, my hippakontistai return to the main battle line and shower the Romans from behind with their last volley and then charge the Romans who are already exhausted from the march and the fight and quickly broke and fled.
It take a bit of time to really learn the right timing with hippakontistai. Timing is everything, otherwise you get chewed. If you master the use of javelin cavalry however you got a cheap and very very handy tool against heavy infantry (that's the unit type I use my javelin cavalry against).
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