SuperMontage vs. ISLD Hidden Orders
- Thread starter bungrider
- Start date
Originally posted by mike s
Surprise, surprise!
Neither of my L2s show three digits (not to mention...four!) Maybe I should reread my manuals...then again, four decimal places is probably too much thinking for me.
Do you mind if I ask which software shows this?
Also, what does ISB stand for?
Thanks
ps. I'll bet you also have that secret software that shows hidden orders too
I think the problem here has nothing to do with your software, you probably just don't have access to the island book (ISB). If you did you would be able to see all those ISB's on your L2.
BTW, I'm a prop trader and I use software that is being developed by my company. It actually only shows 3 decimal places of info, but you can actually shave on island and instinet to 4 decimals if you want.
With Realtick I have the capability to integrate the ISLD book with my L2 but I haven't found an option for more than two decimal places.
Since some ISLD traders are able to hide their orders the lack of extra decimals probably won't make too much difference to me because a lot of those shaved prices are likely to be hidden....I picks me price and I makes me bet. As you mentioned, T&S is key.
SEE.......YOU GUYS THOUGHT I WAS PARINOID
....THERE ARE PEOPLE OUT THERE THAT HAVE THE ABILITY TO SEE AND READ THESE HIDDEN SHARES....I CAN'T EVEN READ THEM TO ONE DECIMAL POINT....I THINK ITS A CONSPIRACY. I'D WRITE A LETTER TO THE SEC ABOUT THIS UNFAIR PRACTICE.....BUT THEY WOULD PROBABLY THINK I WAS STILL WORKING FOR ENRON
....THERE ARE PEOPLE OUT THERE THAT HAVE THE ABILITY TO SEE AND READ THESE HIDDEN SHARES....I CAN'T EVEN READ THEM TO ONE DECIMAL POINT....I THINK ITS A CONSPIRACY. I'D WRITE A LETTER TO THE SEC ABOUT THIS UNFAIR PRACTICE.....BUT THEY WOULD PROBABLY THINK I WAS STILL WORKING FOR ENRONYeah, I can certainly see how it would make a big difference in the WCOM price range/volume. I don't play those but I suppose it can actually become the spread.
I'm finding price shaving to be helpful in getting a short off at turning points.
Vinigar: I think it's okay to write the SEC. They'll probably just think you're part of the club! ;]
What brokers allow more than two decimal places in posts on Island??
I was using Datek and I don't think they do. I am now just starting to use Daytradz with Realtick and I dont they they do either.
I am looking at IB and I plan on asking them if they allow putting three places in my Island posts.
Thanks
I was using Datek and I don't think they do. I am now just starting to use Daytradz with Realtick and I dont they they do either.
I am looking at IB and I plan on asking them if they allow putting three places in my Island posts.
Thanks
First off, I think it's somewhat interesting that this many are surprised at the availablity/use of three decimals. It's just like when we used to shave by 1/256 back in fraction days. I do remember though that this was a function of your broker rather than the software as at the time I used Realtick and while at MarketWise we could shave by 256ths I know at many other RT based b/d's the most was by 64th's.
Regarding your point on getting off shorts using the shaving technique, just be aware that if you do this on a NMS stock where the spread is at one cent at the time you shave to get off the short, you have technically violated the uptick rule. And as you have probably surmised, many trading platforms will allow this. Having said that, I have never actually heard of anyone actually getting caught doing it but I guess you never know.