TERRIBLE FILLS!!! how does this happen? PICTURE

Discussion in 'Order Execution' started by upandcomer, Jan 19, 2011.

  1. [​IMG]

    xlf.... great volume, yet people get F'd on what I am assuming are market order trades, which are way over bid/ask price. How does this happen? Is it legal?
  2. Are you joking? If your not then I advise watching the level 2. It never went there. The trades are pre-arranged block trades. The price didn't go there and your stops would not be effected. Ignore those prints
  3. No I'm not joking... I've never really read about it anywhere and that’s why I'm asking. Thanks for the info though. I've always worried about this and it has been part of the reason as to why I do not currently set stops.

    I still don't see why someone would pre-arrange a block trade so far above the bid and ask. I'm guessing it's because of huge size?

    Also, where would I see it on level two? Do you mean T&S? I don't understand how level two could show a pre-arranged trade... doesn't make sense.
  4. they look like bad ticks to me, what is that esginal or something??
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  6. Bob111


    instead of screaming about legal\illegal all you have to do is pull T&S...i'm 99.9% sure that these trade are executed away from NBBO at that time(which mean that they are pre arranged trades).
    if this is too hard for you and after 2 years of ET membership (forum for ACTIVE traders) you can't figure this one out-you can always call your broker's trading desk just to hear exactly same shit..
    -----TERRIBLE FILLS!!!----- for whom? did you got filled at those prices?
    read rules and policies on those exchanges first..know shit you trade before you post this nonsense
  7. jo0477


    Hey OP

    Here's a link that should clear it up for you - its from the TMX Exchange (Canada)


    It clearly states:

    "the block trades shall not set off special terms orders or otherwise affect orders in the regular market."

    So in a nutshell - your stops are safe :cool:
  8. Shit!
    Bob what the hell's up your ass? You have a bad year or something? ... screaming? Really? I asked a simple question ass hole. Was hoping ET could clear something up for me. Sorry I'm not running around this forum calling market tops like most people spamming the forums. I asked a simple question. It's one that may help others that don't know about this as well.

    You mad I used caps in my title? Sorry I offended you bro. You can get tampons at Wal-Mart.

    If your accusing me of not being an ACTIVE trader....well... your right. I signed up for ET in high school. I've been busy with work and college, so sorry if I don't have time to read all of the fine print rules and policies on every exchange I use. For your information I made about 70 trades in 2010. I know! not a lot for ET standards (hope thats enough for you). However, I have been profitable the previous two years so no skin off my back.
  9. Thanks for the link :)
  10. It's often called a "squib" and doesn't mean the stock actually traded at that price on the chart in real time. It can be deceptive especially if your watchlist changes the hi/low for the day due to the squib, even though the print was outside the market and/or could have been canceled later.
    #10     Jan 20, 2011