If you want to rely on the nx when you are trading a stock that has abnormal voulme for the day good luck. The rules are different for a stock trading like that. If the stock is going to gap....guess what.....there are 300 nx's comming in at once. Therefore it might not be disabled rather someone can just get it 1/100 of a second faster. My question is about the holding of orders. I was trading a stock the other day and the market was tanking. There were 50000 shares on the sell side for anywhere from 5 to 20 cents lower and a 20000 short seller. The stock trades usually about 8 times a minute with volume of over 2 million. All the sudden the spec is printing once every 3 to 4 minutes. So the final order was that the market leveled and bounced and then of course all the orders cancelled. In total the specialist traded about 10000 of the 50000 and the rest cdancelled. I do not view this as a fair and orderly market. Rathe I view this as OH SH IT the market isa tanking and I did not expect this. I am long and I am going to get screwed. There is only twelve minutes left let me hold all the orders and see what happens. In total the stock moved 3 cents when the futures moved 10 points and the market went 50. This should be illegal( and I think it is) Another thought to this is fake bids. When a bid comes up repeadily for 20000 and then it is bid up 20 cents and the bid dissapears again and again and then 40 cents lower is shown and he prints all the people he just got in it just to show the 20000 again 10 seconds later. As soon as 100 shares hits it it dissapears. Criminals!
Can someone please give me a simple explanation of what exactly "NX" is? I just started to trade using a platform that has "NX" on it, but I can't get a handle on what it means. I have done a search here on ET, but the discussions all seem to assume some degree of understanding (which I don't have). Is it possible for someone to give me a simple explanation going on the assumption I know absolutely zero about what NX is? Thanks, Marc