what do you mean? you mean hitting the bid by locking it down below the inside market? I do this all the time when i want stock quickly
I don't understand what so many are having trouble with. I posted the definition of "bid whacker" from another site in my OP. Bid whacking is selling at or below the bid price. Many find those that do this annoying and recently I've seen a t-shirt being sold online saying "Don't be a bid whacker." I've seen many expressing their displeasure at bid whackers in various forums. I'm saying I'm a bid whacker by definition because I find it difficult if not impossible to sell all my shares at a price higher than the bid price. I'm curious if there's anyone here that thinks people shouldn't bid whack because "it may temporarily drive down the market price of a security" and if they get "perturbed" when others do this. Also, most brokers give you the best price when entering a limit order, no? I never get one better than the bid.
You need to learn trading terminology in expressing yourself on a traders site you HIT the BID, TAKE the offer.
I did not want to re-response this but I understand that you have difficulty understanding the terminology of the bid whacker. Lets assume that BID and ASK price for a stock is 1.50/1.51. And lets assume that you selling you shares . Lets again assume that bid size is 100 and ask size is also 100. If you sell your shares at the market and you only have 200 shares, your shares might be sold at 1.50 or a little above like 1.53 depending how active the stock is and how many MM are competeing. If you sell your shares at 1.50 at limit, almost 100% your shares will be sold at 1.50. If your order is the limit price of 1.51, your shares might be sold at 1.51 or even higher if a sweep buy happens but not less. Now assume that I am a big share holder and get a news that this company will get bankrupt soon and I decide to get out. Lets assume that I have 100K shares. It is not wise to put an order to sell at 1.51 or 1.5. I look at level 2 and see lots of buyers at 1.49, 1.47 and 1.45. I put a sweep order to sell my shares at 1.45. Then the person who wants to buy at 1.50 might get his shares at 1.45.I am that selling called bid whacker and not the person who wants to buy.
Incorrect there is no price on sweeps it just takes yo at what you're posted at in the book. This isn't early 2006.
Either you did not explain well what you meant or I should throw my 15 year trading experience and knowledge out of the window !!
You need to be specific if you're going to make comments. What's the point of telling someone they need to learn something if you're not going to tell them what it is they got wrong? What trading terminology do you think I need to learn? Where? I repeated several times what the definition was. Or is there some special set of terminology specifically for bid whackers that you think I need to learn? If so, what words is it apparent that I don't understand? I understand this and market orders has nothing to do with the subject. I realize this. I specifically mentioned that it's when I try to sell at a price higher than the bid (what some complain about and call "bid whacking" that I'm not usually successful and may get a partial order filled and have to enter another. . I realize this. It's the subject I brought up. I know the seller is the bid whacker. I wrote the definition in my OP. Are you referring to post #6 where I mistakenly wrote "buys" instead of "sells"? I mentioned in my next post (post #11) that it was a mistake. Did you miss that? What is going on around here? hajimow, in your first post in this thread you said the following in reference to my OP: "Your definition of bid whacking contradicts with what you say." I asked you "Where?" You didn't answer. Mind answering?