I placed a market order to cover 6000 shares of QQQ at 12:42 today. QQQ was at 36.87
I clicked the review order screen and did not get a fill, I wait 30 seconds and still no fill. (This is a market order OK?) another 15 seconds go by and click again, this time one partial fill for 1000 shares at 36.88, I click again thinking it might fill all the way on the next click, but NO, two more partial fills for 200 and 600 shares 36.98. Then after another long wait while the market moves against my position the final fill comes in at 36.91.
Does this smack of manipulating the order flow?
SECOND TRADE:
I placed a stop loss order at 36.42 at 10:54. The QQQ hit 36.42 at 10:55. For 2 minutes I checked the review order screen and no updates regarding this trade were shown, finally after 2 minutes it was shown as filled at 36.37. When you look at the individual ticks it clearly shows trades going through during these two minutes at 36.42 36.41 36.40 39.39 and less. There was absolutely no sudden and precipitous drop in price. A market order could and should have been filled properly at close to 36.42. 36.41 was totally feasible in these kinds of conditions. Instead it got filled two minutes late and at the absolute lowest possible price of 36.37 a full 5 basis points below the stop loss.
Manipulated trade?
I clicked the review order screen and did not get a fill, I wait 30 seconds and still no fill. (This is a market order OK?) another 15 seconds go by and click again, this time one partial fill for 1000 shares at 36.88, I click again thinking it might fill all the way on the next click, but NO, two more partial fills for 200 and 600 shares 36.98. Then after another long wait while the market moves against my position the final fill comes in at 36.91.
Does this smack of manipulating the order flow?
SECOND TRADE:
I placed a stop loss order at 36.42 at 10:54. The QQQ hit 36.42 at 10:55. For 2 minutes I checked the review order screen and no updates regarding this trade were shown, finally after 2 minutes it was shown as filled at 36.37. When you look at the individual ticks it clearly shows trades going through during these two minutes at 36.42 36.41 36.40 39.39 and less. There was absolutely no sudden and precipitous drop in price. A market order could and should have been filled properly at close to 36.42. 36.41 was totally feasible in these kinds of conditions. Instead it got filled two minutes late and at the absolute lowest possible price of 36.37 a full 5 basis points below the stop loss.
Manipulated trade?
So with unusual 2 hours market order on that QQQ derivative ;