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

  2. 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


    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.