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Thanks all.

When using a "show only" order with an ECN (i.e. buy 500, show only 100) does the entire 500 shares maintain the time priority the initial order is received, or does just the 1st 100 shares get that time priority, with the remaining blocks being restamped after the 1st 100 are sold? Hence, if...

Thanks Alanm.

What are the keys to spotting MM traps?

Is that Island to Island only if Island is on the inside bid/offer, or do you always go to Island first, which will then send the order to the NASDAQ if it can't be filled by it's own book?

So basically, Level II is now just a very rough gauge of market liquidity?

So how do you decide which MM or ECN to preference, is there a significant difference in ECN's?

Is there really any usefulness in watching NASDAQ Level II screens these days? I am new to trading, and it seems that most of the prints, including big block transactions, happen on ECN's or alternate exchanges, with very little of the true volume actually being shown on the Level II screen...

I just started trading using TradeStation, and am unable to get a straight answer as to the protocol "intelligent" order routing uses. All my limit orders just seem to show up on level II as CINN, which I guess means they went to Island. Anyone know how it works. Also, is there any benefit (or...

When watching the S & P futures as a leading indicator, do the e-mini and the full contract mirror each other? Can you watch either, and is the most current one (i.e. ESH04) the one that most of the world is watching?