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Re: Speid post# 15876

Wednesday, 12/04/2013 6:36:43 PM

Wednesday, December 04, 2013 6:36:43 PM

Post# of 68550
The way limit orders at the same bid works, for those who are not aware, is by time prioritization. Thus, there is in essence a virtual line that is created. For instance, I have several hundred million parked on the bid at .0001 I am next in line to get filled on .0001's because I have kept a gtc (good until cancelled order) keeping my place in line. As .0001's have been sold (roughly 600 million in the last week and a half) it has taken out everyone in front of me in line. Those who put in orders after mine are behind me in line. One final important aspect that not everyone knows is that any order modification (i.e. changing your order for more or less shares, changing to all or none, etc.) will kick your order to the back of the line, treating it as a whole new order. Also, all or none orders have a lower priority than regular orders.

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