fighting the ECN's for the best execution

S

SethArb

seems like whenever I try to go NBBO on the inside market
in my stock that has its specialist on AMEX

at least 8 out of 10 times some ECN is trying to match or better

my order ...

if I match them on their end they sometimes go a cent higher

if I cancel my order ( s ) they cancel their orders

this drives me craZY sometimes

:p
 
I'll bet those are black boxes on pretty thin stocks.

PS. If yoyu want to test, wait till midday and try to go low offer short, I bet they immediately drop a penny.
 
Quote from SethArb:

seems like whenever I try to go NBBO on the inside market
in my stock that has its specialist on AMEX

at least 8 out of 10 times some ECN is trying to match or better

my order ...

if I match them on their end they sometimes go a cent higher

if I cancel my order ( s ) they cancel their orders

this drives me craZY sometimes

:p
More...

It happens to me as well, I was just talking about it today. It's so annoying. Damn blackboxes:mad:
 
You can figure out the dumber ones and outsmart them by layering 1 lots all over the place and seeing where they lay off. then hide your real order behind one of your 1 lots.
 
It's not just black boxes...
But Specialists and MMs trying to make life hard for the competition.

One can 90% negate the "penny jumping" shit... by trading a lot of stocks.

If you enter 20 Limit Orders in 20 different stocks...
And do not care which 10 get filled...
All this becomes just a nuisance that cuts your volume by 5-10%...
Leaving your profits mostly intact.
 
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