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Limit Orders Direct Market vs Retail Broker
- Thread starter Rookie86
- Start date
Answering OP and Temujin79:
I mis-spoke in my last msg. There were thousands of "lots" (not shares) displayed on both bid and ask. So there were hundreds of thousands shares displayed and in competition with OP's 3000 shares offered. So OP's 3K offered is really a very small percentage of liquidity provided. Unless OP knows for sure (s)he should have priority, then it seems rather normal that his/her offer was not lifted.
Temujin79: I have ActiveTick and Polygon as my main data sources. Not perfect, but OK for my needs (which is not HFT).
OP: I did not see millions of shares on the bid side. Only hundreds of thousands. (See attached.) Do you have a screenshot? Were you referring the top of the book or the entire order book?
I mis-spoke in my last msg. There were thousands of "lots" (not shares) displayed on both bid and ask. So there were hundreds of thousands shares displayed and in competition with OP's 3000 shares offered. So OP's 3K offered is really a very small percentage of liquidity provided. Unless OP knows for sure (s)he should have priority, then it seems rather normal that his/her offer was not lifted.
Temujin79: I have ActiveTick and Polygon as my main data sources. Not perfect, but OK for my needs (which is not HFT).
OP: I did not see millions of shares on the bid side. Only hundreds of thousands. (See attached.) Do you have a screenshot? Were you referring the top of the book or the entire order book?
Attachments
Answering OP and Temujin79:
I mis-spoke in my last msg. There were thousands of "lots" (not shares) displayed on both bid and ask. So there were hundreds of thousands shares displayed and in competition with OP's 3000 shares offered. So OP's 3K offered is really a very small percentage of liquidity provided. Unless OP knows for sure (s)he should have priority, then it seems rather normal that his/her offer was not lifted.
Temujin79: I have ActiveTick and Polygon as my main data sources. Not perfect, but OK for my needs (which is not HFT).
OP: I did not see millions of shares on the bid side. Only hundreds of thousands. (See attached.) Do you have a screenshot? Were you referring the top of the book or the entire order book?
I can't remember the time when I saw the millions. There were numerous times throughout the day where both the bid and ask put up a couple million shares. Regardless, i was filled even after seeing these numbers. Interesting.
I just replayed the morning of the 5th and there sure wasn't much movement of the price in that time. Since the ask didn't move during that time the sell orders were never cleared out. In addition to yourself, a lot of sell orders never got matched up. You were just one of the unlucky ones. Sitting on the ask when the stock is not moving is a crap shoot.
Please can you post what time zone you posted your trade time in. I am seeing a 1.13 ask at market time but I could be wrong as I usually trade in PDT.
Please can you post what time zone you posted your trade time in. I am seeing a 1.13 ask at market time but I could be wrong as I usually trade in PDT.
No, no priority rules. Clearing is "best effort". MMs are going to match up orders as to what makes an "orderly market" and what makes them money. Orders are matched by size first if there is a match. After that orders may be broken up unless they are tagged "all or none". Op was hopping his tiny order was going to get picked up against the tens of thousands of other orders in a sideways market. He was not so lucky.
Answering OP and Temujin79:
I mis-spoke in my last msg. There were thousands of "lots" (not shares) displayed on both bid and ask. So there were hundreds of thousands shares displayed and in competition with OP's 3000 shares offered. So OP's 3K offered is really a very small percentage of liquidity provided. Unless OP knows for sure (s)he should have priority, then it seems rather normal that his/her offer was not lifted.
Temujin79: I have ActiveTick and Polygon as my main data sources. Not perfect, but OK for my needs (which is not HFT).
OP: I did not see millions of shares on the bid side. Only hundreds of thousands. (See attached.) Do you have a screenshot? Were you referring the top of the book or the entire order book?
Does Activetick have any features that helps one spot the Dom in level 2 and time and sales data?