Does this ever happen to you? There is a large gap between the bid and the offer of any instrument, maybe because its illiquid or maybe because your in the pre or after market. You put in a bid or offer and the second you do that some automated software one ups you, and if you keep bettering your bid it keeps one upping you until it reaches a preset plateau.
Now I realize that there are some order entry platforms that can do this, but my question is if you put in an order for less than 100 shares of a stock, it doesn't up doesn't show up on a level two quote screen, yet my order is still one upped. So someone is seeing my order even though its less that 100. Can it be seen on a level three screen?
Now I realize that there are some order entry platforms that can do this, but my question is if you put in an order for less than 100 shares of a stock, it doesn't up doesn't show up on a level two quote screen, yet my order is still one upped. So someone is seeing my order even though its less that 100. Can it be seen on a level three screen?