fighting the ECN's for the best execution

Discussion in 'Order Execution' started by SethArb, Oct 5, 2006.

  1. seems like whenever I try to go NBBO on the inside market
    in my stock that has its specialist on AMEX

    at least 8 out of 10 times some ECN is trying to match or better

    my order ...

    if I match them on their end they sometimes go a cent higher

    if I cancel my order ( s ) they cancel their orders

    this drives me craZY sometimes

    :p
     
  2. Arnie

    Arnie

    I'll bet those are black boxes on pretty thin stocks.

    PS. If yoyu want to test, wait till midday and try to go low offer short, I bet they immediately drop a penny.
     
  3. rjv27

    rjv27

    It happens to me as well, I was just talking about it today. It's so annoying. Damn blackboxes:mad:
     
  4. You can figure out the dumber ones and outsmart them by layering 1 lots all over the place and seeing where they lay off. then hide your real order behind one of your 1 lots.
     
  5. these computers are easy to scalp....use their routine logic against them and take $'s from who ever owns it! :)
     
  6. What about using hidden orders?
     
  7. It's not just black boxes...
    But Specialists and MMs trying to make life hard for the competition.

    One can 90% negate the "penny jumping" shit... by trading a lot of stocks.

    If you enter 20 Limit Orders in 20 different stocks...
    And do not care which 10 get filled...
    All this becomes just a nuisance that cuts your volume by 5-10%...
    Leaving your profits mostly intact.