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Doc logic

09/18/24 10:14 AM

#720651 RE: hankmanhub #720643

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.
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Steady_T

09/18/24 10:30 AM

#720655 RE: hankmanhub #720643

MM can see your bid on LVL III just as soon as you place it. Making your bid public had nothing to do with it.

It looks like your bid size is big enough that the MMs are seeing that as a floor. You might want to consider breaking your bid into smaller sizes.

I have gotten fills that way.