Order Fill

JackRab said:
Yes.

TradeZero gets your order... they give that order info to HFT, for which they get paid... HFT sees that you're about to post a market order... so within milliseconds they sweep the book and you pay top price.

Or, depending on what stock and exchange this is... (mind telling us?) they run the quotes on this stock... move their quotes on the basis that you are about to buy... you pay top price.
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Ok I see where your getting at so if I make a limit order instead of a market order there is no way HFT can benefit from this right or can they? Also, I still don't see the connection why my orders get filled late. Or you saying my orders are getting filled late cause all the HFT traders got in before me?

I trade in Nasdaq/Nyse btw!
 
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GotherL said:
Ok I see where your getting at so if I make a limit order instead of a market order there is no way HFT can benefit from this right or can they? Also, I still don't see the connection why my orders get filled late. Do you think HFT had something to do with that?

I trade in Nasdaq/Nyse.
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Well.. even with limit orders you can get screwed this way. If you're limit order is to buy above the ask price.. the quote could just move.

What stock is it in?
 
JackRab said:
What stock is it in?
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Stock exchange or ticker? Heck I just tell you all the details. It happened when I was trading PYDS. If you look at the min chart I tried shorting this at around 2:08 pm at $3.52 and got filled at 3.42 at the end of the huge red volume spike.
 
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GotherL said:
I am with a broker called Tradezero and I tried shorting a stock at 3.52 but it went down all the way to 3.33 before it got filled at a price already to low to short. This only took about a couple of seconds. It seems whenever there is volume spike my order gets filled late. Is this market maker trick or is my broker just not fast enough and loses priority to other routers? They use something called smart route. I am not sure if that is common or unique to them. This is a huge problem for me cause I tend to trade momentum breakouts on volume if my broker keeps doing this I figure I'd go broke.
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What was your size, what was the bid/ask size? What you see on the screen are not prices you can get when it comes to low liquidity.
 
JackRab said:
Yes.

TradeZero gets your order... they give that order info to HFT, for which they get paid... HFT sees that you're about to post a market order... so within milliseconds they sweep the book and you pay top price.
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You know what now that you mention it. I do seem to recall most of my market orders getting filled where I be losing up to $50 right off the bat which didn't seem right since I was only trading with a $2000 account. I never really paid attention thou and just assumed it was regular bid/ask spread loss. Maybe you're right and this HFT system of traders or whatever you call them is piggybacking my trades...
 
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d08 said:
What was your size, what was the bid/ask size? What you see on the screen are not prices you can get when it comes to low liquidity.
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My size was only 300. I wasn't paying attention to the bid/ask size at that time but I am pretty sure there was a lot of liquidity since the stock was trading on 99x relative volume.
 
GotherL said:
Stock exchange or ticker? Heck I just tell you all the details. It happened when I was trading PYDS. If you look at the min chart I tried shorting this at around 2:08 pm at $3.52 and got filled at 3.42 at the end of the huge red volume spike.
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Hmm, I don't think it has to do with you specifically... looking at the chart, the volume is not tiny... if you're only trading 1000 shares or so that wouldn't move anything.

Are you sure you're trading on real-time data feed? That's another thing... maybe you've got delayed data... and they fill you at shitty levels... do you have the tradelog? Or a print of the exact time to the second and size traded?
 
JackRab said:
Hmm, I don't think it has to do with you specifically... looking at the chart, the volume is not tiny... if you're only trading 1000 shares or so that wouldn't move anything.

Are you sure you're trading on real-time data feed? That's another thing... maybe you've got delayed data... and they fill you at shitty levels... do you have the tradelog? Or a print of the exact time to the second and size traded?
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Delayed data as in the charting I use? I dont use their software I use tradingview pro and trade ideas. I got filled at 209 pm. I am off my laptop so I can't look at tradelog atm so I can't give more specific details.
 
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