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re: TD Ameritrade lowers cost per trade to $6.95
Posted on 3/1/17 at 9:42 pm to Iowa Golfer
Posted on 3/1/17 at 9:42 pm to Iowa Golfer
quote:
There are some other ways you can "hide" trades. They are never truly hidden, but for all practical purposes, they are hidden for the retail guy on TD, and most average people. So you can look at top of book, and see pending buys, and how many shares, and where the buys are coming from. Route 5000 CVX to 6 different places to try to avoid partial fills and what generally drops the price of what you're trying to sell.
Assuming this is an example of what you're talking about doing, it's only hidden to those who don't know what to look for. I left off the exchange data because that picture is actually for /ES contracts from several minutes ago, but I needed an example. If I see something like that at the same second and at or about the same price but through different exchanges, then I know what happened. Most retail people won't, though. They'll just see noise.
1
Posted on 3/2/17 at 5:38 am to Omada
I'm not sure what you're trying to display. If you can explain it to me, it would help me. I'm assuming someone wants to hide how many futures contracts they are either buying or selling?
What I'm talking about is using iceberg and hiding the size. Also routing one order to multiple places. Some other sell orders that attempt to get volume weighted pricing. They have some algorithm stuff, but it has been a long time since I've ever used it, and it has advanced beyond what I need at this point, and what it was back then. I think I sell using an iceberg that randomizes the size based on the algo's probability of price moving more favorably.
What I might use now is price improvement auction for options. So while almost everyone else is trading lower liquidity options in either increments of a nickel or dime, I'll route the order to BOX, and auction my bid/ask in pennies.
What I'm talking about is using iceberg and hiding the size. Also routing one order to multiple places. Some other sell orders that attempt to get volume weighted pricing. They have some algorithm stuff, but it has been a long time since I've ever used it, and it has advanced beyond what I need at this point, and what it was back then. I think I sell using an iceberg that randomizes the size based on the algo's probability of price moving more favorably.
What I might use now is price improvement auction for options. So while almost everyone else is trading lower liquidity options in either increments of a nickel or dime, I'll route the order to BOX, and auction my bid/ask in pennies.
This post was edited on 3/2/17 at 5:45 am
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