SETS All or nothing

[gooseman]

if you don't want to trade that price don't submit an order. or reduce order size. "blips" are part of a market.

 

[Skill Leverage]

Sure I know that Goose, but my point was, if you had an order like that for large size, you would only get filled if something out of the ordinary happened; if it just traded around/through that price normally, you won't get a piece of the action, you'll only get filled if someone hits market for a ridiculous amount, or something like that. I don't see a problem with it for smaller size; that said I'm not a huge fan of limit orders.

 

[Technically Fundamental]

can see why.

 

[gooseman]

if you have a monster order to do then i think you just have to lift the offer or hit the bid. working it prtty much never gets a complete fill as the counterparties wise up and fade. algos especially. plus i like seeing people rush for the hills when you take them out with a big boy

 

[raysor]

OK, I will change the figures a bit just in case the jobbers read this!!LOL
SETS/MM stock, pretty illiquid. MM bidding 15p for 15000, Offer 17p for 15000. Let's say I want 50,000 at 15p (sometimes the MM comes off the bid). So I could be on the bid at 15p. It's possible to get lucky because it has traded there over the past week or so. But I don't want to end up being hit with less than 10000 (even that wouldn't be good).

 

[arabianights]

if you have a monster order to do then i think you just have to lift the offer or hit the bid. working it prtty much never gets a complete fill as the counterparties wise up and fade. algos especially. plus i like seeing people rush for the hills when you take them out with a big boy

meaine

 

[raysor]

meaine

Is that a guess at the stock or a typo?!?!!

 

[foredog]

Problem with most of these stocks is that now they're setsMM they're really illiquid and quite a lot of the volume is still done off book so a lot of the time the bid will only be hit in the retail scraps as Institutions etc may have left order with MM saying they wan to sell 250k at 15 or better so MM will dribble them out on RSP or hit decent bids at 15.5+ on the order book.

If there's some trade goig through around the middle it may be worth going 15.25 bid as an Iceberg in lots of 15000 to see if you get hit or put up 10000 to see if there's a seller and if it's hit put the other 40000 up.

It'll be rare for someone to drill the bid in 50k+ when the stock is only 15p and there's a 2p spread.

 

[foredog]

Is that a guess at the stock or a typo?!?!!

Lol, depends if it's an Aim stock!!!!