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>> By the time you get out of the remaining 900 shares you might
>> have lost a point or more.
>
>A fast moving market has that effect on any broker. If there are no buyers
>(or sellers) at your price, no brokerage is going to fill you.
>
Yes, but that is not what I am talking about. For example, with the ISLN
they might fill 100 and leave 900, even when the market has not moved, even
when the next 100 fills are at your same price. You are required to
resubmit the order. I understand that ATTN will leave your order in place
until your order is completely filled or the market moves, but ATTN was not
around a year ago when I was SOES trading.
>>. The
>> first is that if you received a partial fill, the rest of the order was
>> canceled and you had to resubmit the order.
>
> Not familiar with any ECN that does this. If you receive a partial fill,
>the remainder of the order stays open until it is filled, canceled, or it
>expires.
A year ago, Island did require you to resubmit.
> If you make the market - i.e. go high offer or low bid, then you are
> "tipping your hand" in this sense, but this doesn't mean much anyway.
> Without ECN access, though, you can't even do this, and have to
> wait until a MM fills you.
Not true. You can offer it directly to the MMs or to a particular MM.
While
this can be seen with the right tools, it does not change the inside market
and is not as obvious to other traders.
== Rob ==
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