Selling order flow so they can front-run you. Or maybe just HFT ECN games. You're not delusional, it really does happen.
That's nonsense as he is not talking about "copying trades" but frontrunning. This has been documented by many high frequency traders many times by now and is most definitely being done. HFT doesn't make money by looking for big traders exclusively, in fact the retail traders are referred to as dumb money, draw your conclusion. HFT also really hunts dumb retail orders because it's easy money. If I'm HFT and can make $10 per trade from 10,000 traders, I will take it. Individually all of these traders aren't "big enough" but combined it becomes significant. We are talking about automated trading where only the absolutely profit matters, no-one is looking for a "big trade".
Yes, I'm sure. Getting pricing improvement so an equity market maker can jump in front of a customer order after you enter your order in round numbers is not the same as entering an order going out 4 decimal places. Some penny stocks allow sub-penny orders but not over10 dollars. https://www.bloomberg.com/professional/blog/sub-penny-pricing/ , https://www.sec.gov/divisions/marketreg/subpenny612faq.htm
Paulsmith55: Hello SEC, i want to report that my broker is front running me. SEC: Can you tell us what happened? Paulsmith55: I was trying to trade with myself but someone else stepped in front of me. SEC: Really? Can we have your address? Paulsmith55: Why do you want my address? SEC: What you are doing is illegal. We want to come and arrest you.
I believe the area of potential issue here centers around the term "self dealing" for those seeking to find the specific piece of code. But it doesn't matter. Brokers getting ahead of orders is nothing. Some years ago the EXCHANGE installed a bell on the floor that was to be rung any time I took a directionally biased position. Friday morning...sensing we would blow through 3300 on the SP and I get long. About 20 milliseconds later everyone on the floor hears the bell and I get pummeled and faded all day long. Real world problems.
%% Two other issues [1] They delayed his order he said/bad fill, he said. [2] his after hours/irregular TIME of his order maybe the main problem. And ts not clear if his broker even allows sub penny orders, on a cheap $10 stock ?????
%% Ironchief, didn't you enter a market order or a limit order of$ 117.60?? Its >$144 now. [It sounds to me like original poster tried to do something like buy one apple @ $00.33 + 1/3, when they are priced 3 apples for a dollar, which is .34 cents for one apple. Thats not front running, that is common sense, if you buy one apple] . Since you got filled, you most likely used regular market hours.LOL