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> Charles Wright wrote:
>
> > They might
> > ignore your offer because you're an unknown or worse, a daytrading
> > firm -- they know who's who -- and fill a member of the tribe.
It just occurred to me that you might mean by this that you are on the offer
along with one or more players. In this case, you might see a zillion hits at
this price without you. This is pretty typical, and you pretty much need
either a crossed order or for the others to lift to get filled. The best
analogy I can think of for this situation is that you are at the back of the
bus, so to speak - and while MM's will do business with you at a specific
price, typically this will only happen if there aren't any of their "own kind"
with you there - or, you get filled by one of *your* own kind (say, a crossed
ECN order.) In a lot of situations, unless you are expecting the others to
lift, it is often best to replace your offer a level down - although you risk
bringing others with you as well, which places you in the same boat pretty much
at a worse price. Suffice to say though that while ECN's give you the power to
make markets, it is tricky business at times, to be sure.
Regards,
A.J.
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