Hidden Orders

[lojze]

With the exsintence of "iceberg" orders - is L2 useful for good trader at all?

 

[MrEvilpants]

Question for those of you who use reserve or iceberg orders habitually: on average, what percentage of your order do you display?

 

[qazmax]

I always show what I believe is the average size of a trade in that stock, just take a look at T&S and "eye-ball it". If it is a OTCBB then I just show the minimum size requirement.

 

[AAAintheBeltway]

In some cases a hidden order can hurt you. If you are selling 1000 shares but only showing 100, it will immediately be obvious when the order refreshes that there is more behind. Only buyers don't know how much is behind. for all they know, you could have 20,000 behind, so they may tend to back off.