saw yesterday same exact order bounce between bid and ask for about 10 minutes as it was being heavily traded. it was always within 3-5 cents of the current price and would disappear right before price hits it and appear on the other side of the order book. i couldnt tell if it was filled or not but from what i could keep up with it was cancelled before it was actually filled every time and then would appear on the other side of order book the same second(algo? because humans cant enter an order manually that fast) it was 44k or 51k order every time i saw this before many times but never seen it so close to current price and this fast. usually its far away from current price. and not switch that fast what was that? i cant remember what stock it was just want to understand what i was looking at
But what would be the purpose of this? Does that actually affect price? whats the strategy there for example if the orders are being filled few cents I cant see any point in doing that
suntrader are you the one with the tim sykes conspiracy theory that keep stalking my posts like a fn weirdo? Asking so i can block you too if you are.
No but why would i not learn about this. Everything i learn will help me better understand the market