Savvy Trades and Investments

[jtomm]

Hweb, "Layering"

Here's a few links. The third one shows why A-turd is interested: when someone does this, the SEC fines the broker as well.

Layering is basically when someone places a bunch of orders with no intention of them being executed, solely to scare other people into buying or selling. So you place a bunch of buy orders to make it look like there's all this buying pressure, hoping people jump ahead of you to buy. Price manipulation -- spoofing orders.

A-turd probly just has some software that pulls up people who place a large order and then cancel it if it doesn't get executed. They see it as a possible manipulation, where as all of us traders understand you might want to scale into a position and that if you place an order and it's not executing on one security and you see a better opportunity elsewhere, you cancel and place your scale orders over on another stock. Nothing wrong with that. I'd explain this to them and hopefully you can get it resolved.

Links:

https://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171484972

https://www.sec.gov/news/pressrelease/2015-4.html

http://www.thinkadvisor.com/2014/04/04/sec-fines-traders-3m-for-spoofing-layering