Stupid question?

Discussion in 'Order Execution' started by pumpanddumper, Jun 14, 2007.

  1. You ever have a case where you're watching the tickers in your portfolio and all of a sudden in rare cases, a glitch or something causes it to tick way higher or lower? Just as quickly, it goes back and settles into its daily range.

    Has anyone ever set GTC limit orders whether buy or sell and had them triggered when this happens?
  2. I've seen it, but, i don't put stops. I usually just sit there and watch. It's like the matrix bunch of green/ red numbers changing. I've heard of people getting stopped out on those moved. It happens.
  3. Yeah, I went down a thousand to up 2 g's on a position and was like WTF. Figured if I had an order in, I could of been out...freegin weird.
  4. Wild tic, sometimes they bust 'em; sometimes it's Christmas again.

    I've held my breath for three days many times.
  5. mark1

    mark1 Guest

    They are usually busted, I had a couple of I'm freaking rich experiences, but they eventually busted the trades. MOFs:D
  6. Beast84


    Most probably somebody did a direct ECN cross but way out of the money and got filled.
  7. what do you mean by busting a trade?. i don't use actual stops any more since i got stopped out few times by these spikes which i think they're ways to activate the stops on levelII by market makers to pick up our shares for cheap.
  8. Your platform should be defaulted , or allow you to set your stop orders to observe the inside bid/ask to trigger your orders. Out of market prints aqre not uncommom and they render stops useless if your stops are triggered by the prints. Of course bid/ask activated stops are problematic as well if you happen to have a 'stuck' quote at the inside.
  9. t1ck3r


    Concerning gift fills or prints away from the market:

    Many times the quote service you use may display and calc your p&l based on "sold sales". (Earlier trades done out of sequence)

    The other explanation is, If you post on a ECN orders away from the market occasionally a large order will come in and sweep every price level. In order to have this happen the incoming order would have to be marked "non-proactive". Obviously in this event many traders have more to go and replace price levels with new orders, returning the market to its previous value. Look out, most likely the guy that performed the sweep has much more to go, so take your profit and run.

    If the trade was too good to be true, It could be. Check out that ECN's Erroneous trade policy so you can rest easy.

    Happy Trading,

  10. rayl


    I get gift fills fairly regularly on Arca, but always for some small # of shares (< 20). Never quite understood how they occur. Suspect some kind of sweep but I thought Arca had a 100 share minimum. Because of certain consistencies (like the exact same # of shares a few times within a few days), it is unlikely for the the # of shares filled to be accidental.
    #10     Jun 23, 2007