Got a question for the pros. The guys who place and remove limit orders very quickly in futures near the last tick- is that a strategy that somehow gets them cash or are they just trying to screw up everyone else?
This is not an order execution question modertaor, please read it carefully. This belongs in trading.
you're assuming those bids/offers are only related to that single instrument. Those orders are either adjusting around fairvalue (ie. market making) or part of a legging strategy, or something else.