No, you can't. When your broker sends an order out to the market as a market order, all market makers get a look at the order to see if they want to fill it at better prices. In the case of IB, they can improve the order internally but that is really the same process. Market orders get flashed to flow providers which is why they pay for flow, to be able to compete and get that order. If no one is taking it its because they don't want it.
TD Ameritrade and Think or Swim Option Market Maker Scam
- Thread starter tradelosses
- Start date
No, you can't. When your broker sends an order out to the market as a market order, all market makers get a look at the order to see if they want to fill it at better prices. In the case of IB, they can improve the order internally but that is really the same process. Market orders get flashed to flow providers which is why they pay for flow, to be able to compete and get that order. If no one is taking it its because they don't want it.
This statement shows you really have no understanding at all how and what your broker does. You have repeatedly ignored explanations given to you. TOS doesn't "profit" by 50 cents, they simply send the order to an exchange. If there is any "profit" made, its by the market maker who filled the order. TOS is not a market maker.
You are too "tired" to place a limit price lower than the bid ask and that's TOS fault?
You can change the default price on the order ticket to selling on the offer, according to another poster as well, which may help if you get "tired" in the future.
If this is a joke account created by someone then congrats, you got me lol.
If not, I now know why the PDT rule exist in the US. Give enough uneducated participants the ability to leverage up in the markets and we could unleash a crash the market has never seen before.
We need a simple test to start trading I think.
That 95% of traders fail quote is starting to make more and more sense when I see post like rhese
Like
based upon the OP and similar posters on ET do you think they can pass this test? parents could not answer correctly questions which were for a group of 2nd grade students.
http://mashable.com/2016/05/10/test-question-stumps-parents-uk/#8.tNyaIiJuqx
lots of luck to all.
Last edited:
Wow.....just wow... someone claims they KNOW how an order book works and then completely demonstrates their ignorance of market v. limit orders. This is what ET has come to...newbie know it alls that no one can tell shit too because the know it all yet vag over something so obvious and simple... wtf.. I agree that if this was a fake post..you got me.
Oh and there were 65 people on the @#$%ing train to start with.
Oh and there were 65 people on the @#$%ing train to start with.
So YOU forgot to enter the order properly, and this is TOS fault?
Blaming others for YOUR mistake is the only unethical thing going on here.
If Bid is 47 and Ask is 50 that means that if you put in a market buy order you WILL get filled at 50 unless someone elses order clears them all out before yours gets filled. That is exactly what a market order is. If you put in a market order and got filled consistently at a HIGHER price than listed while the listed price remained unchanged, then yes that would be a problem. A market buy order getting filled at the ask is not. The ONLY way you will get a better price with a market order is if the someone puts in a lower ask just as your order is sent to market. You have to be quite lucky for that to happen.
based upon the OP and similar posters on ET do you think they can pass this test? parents could not answer correctly questions which were for a group of 2nd grade students.
http://mashable.com/2016/05/10/test-question-stumps-parents-uk/#8.tNyaIiJuqx
lots of luck to all.
EDIT: CORRECT ANSWER REMOVED BY REQUEST
Last edited:
please erase your post and let the OP and others struggle with it.
Done, but now you need to edit the quote in your post.please erase your post and let the OP and others struggle with it.
Fyi, not actually true. Each exchange has their own process for dealing with orders. At the CBOE, if an order is sent at the market or even a limit, it will first go through an electronic auction process among the market makers and you may indeed get a better fill. For example in the SPX, (happened to me when I put the bid in on the offer by error) a market on a back month option is 45-50 you put a 50 bid in and you are filled at 48.5.