Howcome my shares are not sold although mine is cheaper?

[rmorse]

Quote from miamihorror:

This happened to me too today in MCP! Super frustrating. Toward the end of the day mcp was trading 53.19 x 53.15 for about two mins, (at 3:06-3:09 to be exact) and I tried hitting 19s which didn't get taken because I'm cheap, so I tried to hit the bids on arca, edga, edgx and sdot and none got taken. It was still showing 53.19 x 53.15 and I offered 14, 13, then 12, 11, 10 and 9 and none got hit but it was still showing 53.19 x 53.15. I never got in because this was more than I was willing to risk on the trade. At this point the cursing at my poor monitors started, especially as it traded down toward 51 a few mins later A fellow trader explained that it might be because there was nobody willing to hit me? This didn't seem to make much sense to me. Anyone else ever have this happen / have any ideas of why?

You talking about a crossed market because the 53.19 bid was a "stale" bid. Someone's system crashed, and the exchange showing the bad bid had not removed it. This has nothing to do with the platform or broker your using. I see bad quotes like this all the time. There just not live.

 

[etile]

Quote from Bob111:

welcome to my world...the world of pain..i have this problem every single day...buy or sell..whatever..there could be long list of "why"'s
could be subpenny trades(0.000001 better than your 33.9.
shares traded at your price,but on different exchange. those two are major possibilities. and all the board keep saying HFT is fine,50+ trading venues are great for liquidity...no problem for retail..yeah, right..meanwhile i see the forum is dying..let me guess why..cause the difference between us and "them" is bigger than ever. trading for retail guy is damn hard and getting harder every day..
while HFT's counting nanoseconds i can't get my quotes right,cause they are keep freezing in IB's trading platform, like it 's a 1985 or something..what an 'edge'

I agree about the phantom "liquidity". But on the whole, I am getting execution now than I was 10 years ago when we switched to decimilization. The spreads are tighter. I don't daytrade so the pennies and subpennies aren't too much skin off my back, but I doubt there won't be a day in the future that I won't be front-run by some HFT box on both sides of the spread.

 

[total_keops]

Quote from miamihorror:

This happened to me too today in MCP! Super frustrating. Toward the end of the day mcp was trading 53.19 x 53.15 for about two mins, (at 3:06-3:09 to be exact) and I tried hitting 19s which didn't get taken because I'm cheap, so I tried to hit the bids on arca, edga, edgx and sdot and none got taken. It was still showing 53.19 x 53.15 and I offered 14, 13, then 12, 11, 10 and 9 and none got hit but it was still showing 53.19 x 53.15. I never got in because this was more than I was willing to risk on the trade. At this point the cursing at my poor monitors started, especially as it traded down toward 51 a few mins later A fellow trader explained that it might be because there was nobody willing to hit me? This didn't seem to make much sense to me. Anyone else ever have this happen / have any ideas of why?

Just dosen't make sense to me. As long as I know, hitting 19s when you have a 15-19 market does not make sense. You can either lift offers at 19 or hit bids at 15. And hitting the bid means that you sell the whole bid size shown.
So, if you where offering at 19 when it is 15-19 and you dont get lifted for 3 minutes it can happend. Surprising on a 8 million daily volume stock but that's how it is. Not even speaking of HFT.
Now if you offer at 14 and the market is 15-19 that's a problem. Was it an odd lot?

 

[rmorse]

Quote from total_keops:

Just dosen't make sense to me. As long as I know, hitting 19s when you have a 15-19 market does not make sense. You can either lift offers at 19 or hit bids at 15. And hitting the bid means that you sell the whole bid size shown.
So, if you where offering at 19 when it is 15-19 and you dont get lifted for 3 minutes it can happend. Surprising on a 8 million daily volume stock but that's how it is. Not even speaking of HFT.
Now if you offer at 14 and the market is 15-19 that's a problem. Was it an odd lot?

He said the market was "53.19 x 53.15", not .15-.19.

 

[total_keops]

Quote from rmorse:

He said the market was "53.19 x 53.15", not .15-.19.

And what is that? Quotes in yiels from a banana republic? Aren't prices usually quoted bid/ask?
I was obviously omiting the figures for simplicity.

 

[rmorse]

Quote from total_keops:

And what is that? Quotes in yiels from a banana republic? Aren't prices usually quoted bid/ask?
I was obviously omiting the figures for simplicity.

I believe he was showing an inverted market where the bid was higher than the offer. Since that market is not possible given Reg NMS rules, one of the quotes must have been bad. Since he tried to hit the bid, and received no report, that means the bid was not real. It was an old bid that was not removed from the system. This happens all the time.

 

[total_keops]

Quote from rmorse:

I believe he was showing an inverted market where the bid was higher than the offer. Since that market is not possible given Reg NMS rules, one of the quotes must have been bad. Since he tried to hit the bid, and received no report, that means the bid was not real. It was an old bid that was not removed from the system. This happens all the time.

Interesting, I never saw that. Only saw that on frozen market during the FOMC meetings trading SPY but it was obvious that quotes where not good. Now for this guy I just dont have a clue what it was.

 

[taoistmon]

this happened to me. the stock prices went right thru my offer
( i place a limit offer out, and the stock traded through it)

i was using the ISE ecn ( island, not too sure if they are still an ECN)
i recorded my trade transaction number. and the guy called (whoever) to ask y i was not taken out.

he didnt have a great answer... even tho i had a ticket number showing the time i placed the order and everything.
luckily it was only for a few hundred shares so i just MO and paid the commission.

but i imagine that the signal to our prop shop was delayed.

sooo... that is why it did not print me.

 

[Bob111]

Quote from Bob111:

welcome to my world...the world of pain..i have this problem every single day...buy or sell..whatever..there could be long list of "why"'s
could be subpenny trades(0.000001 better than your 33.9.
shares traded at your price,but on different exchange. those two are major possibilities. and all the board keep saying HFT is fine,50+ trading venues are great for liquidity...no problem for retail..yeah, right..meanwhile i see the forum is dying..let me guess why..cause the difference between us and "them" is bigger than ever. trading for retail guy is damn hard and getting harder every day..
while HFT's counting nanoseconds i can't get my quotes right,cause they are keep freezing in IB's trading platform, like it 's a 1985 or something..what an 'edge'

here is a little OBVIOUS example from today : buy @ 2.72 is my iceberg order..so what.."they" have no problem trading around it @ 2.7-2.72. like i said many times..i can pick the winners all day long,but it doesn't mean anything today. simply because i can't get filled, period. not even 10 shares.

 

[bln]

Maybe it was direct routed orders to another exchange than your order was placed.

If if your sell is at ISLAND at 3.90 and ask is 3.92 at NYSE and the buyer direct routes his order to NYSE your order located at ISLAND wont be filled, right?