Wednesday, September 18, 2024 10:14:29 AM
hankmanhub,
You have inadvertently learned how to set an anchor by submitting a large order that MMs want to work around when trading volume is light by filling smaller orders that generate larger profits from commissions on smaller orders. Yes, they are bidding against you until you pay the price they want or remove the order. The longer you hold tight the longer the price holds above that price. You likely would be able to accumulate smaller amounts at slightly higher price while leaving the anchor in place or remove the anchor and let them take it back to $.29+. Best wishes.
You have inadvertently learned how to set an anchor by submitting a large order that MMs want to work around when trading volume is light by filling smaller orders that generate larger profits from commissions on smaller orders. Yes, they are bidding against you until you pay the price they want or remove the order. The longer you hold tight the longer the price holds above that price. You likely would be able to accumulate smaller amounts at slightly higher price while leaving the anchor in place or remove the anchor and let them take it back to $.29+. Best wishes.
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