SPDR S&P 500 (SPY)

[Fox13]

Hi Two! Yes, it is war! It can be funny! A simple way of cheating is to beat the “delta T latency “ of execution. Thus, let us say I put 10,000 contracts for sale, and they become ask. Actually, I don’t want to sell them - just to mislead the competition. But here comes TWO who wants to buy them all at the posted price. He should get them but he might not, if I withdraw the offer faster than the transaction could be executed by the Market Turtle Programs. Now comes the trick: I do not want to unveil my intentions if small traders want to buy, so that I put a limit for the “withdraw action”. But TWO is a smart guy and sends 1000 orders to buy 10 contracts at the ask, spaced by 10\-4 sec. …and he gets the orders executed before I know it. And the war goes on.