large orders fills

Discussion in 'Trading' started by DT-waw, Apr 9, 2001.

  1. DT-waw



    I'm new to day trading, I didn't started yet and I have a question about large orders fills.

    I want to place an 4,000-share limit order on a Nasdaq stock that has 10,000,000 daily volume with limit price between current bid and ask. What would be my chances of being quickly ( in less than 10 seconds ) filled if an order is send through Island ECN? Or maybe it would be better to send it through REDI via SNET or Datek's AutoRouting?

    Thanks in advance.

  2. TheFinn


    You MIGHT get it with ARCA or ISLD, but probably not in 10 seconds. It all depends, though. Sometimes I get filled VERY fast (with only a 1000-share lot, though). 4,000 share lots are pretty big for scalping.
  3. You're gonna have better results chopping that block up into 2 or 3 smaller ones and firing them simultaneously. But you shouldn't have trouble moving 4k on something that trades 10 mil. Especially since we have decimals now, you can just sweep up .1 and take everything on 2k shares, then wait for the offer to fill in and sweep again.
  4. you could get 4000 filled in that type of volume unless it's a fast market and you are going w/ the momentum than good luck as everyone is trying to do the same thing. It will be instant if you are trading against the immeadiate trend, if you are with the direction of the market it won't be so easy.