You can easily set most front end DOMs to have you join the bid/ask. You're going to be filled when marketable. Meaning, the market moved against you by a tick. You can't join the bid AND ask.
Spoofing is a totally different story. It's the practice of entering a high volume of fake orders that have no intention of ever having them filled only just to manipulate the price. I am talking about ONE legitimate order that is entered in between the bid/ask spread just to get a better fill price that was only canceled and re-entered with a modified price because the price has moved away. I have the right to have my order executed on the best price possible for me to make a profit, not for brokers, dealers or anyone else to fatten their pockets. I don't give a crap about upsetting broker's "infrastructure" because they happen to be selling order flows which they are not supposed to do in the first place because that's conflict of interest. There is a reason why there are multiple central exchanges so that everybody can have a chance to buy/sell financial instruments at a fair and transparent price not subject to market makers manipulations. And everybody's orders are supposed to be sent to central exchanges right away for everybody to hit on. The fact that they didn't is really in a way in violation of client agreement. I have paid my broker commissions, fair and square, in return for their agreeing to transmit my order to be executed at the best price possible. It's really appalling that screwing retail traders is used as a legitimate excuse to fleece retail traders by even accusing retail traders of spoofing, a practice that's actually used by HFT's themselves to manipulate the market. Talking about calling the kettle black.
Anyway this has nothing to do with regulations as we retail traders are not the ones who are in the wrong here. We just want our order to be filled with a fair price.
It can get a bit confusing, these discussions. Are you a registered pro trader or a retail trader trying to have it both ways? It’s good to have that context.
Seems like the market want retail out. HTF is doing really crazy stuff on stocks and we get a call for "spoofing". Last year I was in a prop that everytime I moved an order more than 20 times, the stock
I use a strategy in which I buy and sell the order sitting on NBBO while I wait for others so they make an attempt to hit me. This is how I work on capturing the ask-bid spread.
just to clarify, is your order a odd lot order (<100) or a whole lot order (multiply of 100), I also encountered the same issue, which the rel order only go up with the bid but do not come down when bid fall mind sharing how do you do that without manually changing the order price (without using rel), as far as I know rel is the best option when want to fill at extreme of bid-ask