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Strategies & Market Trends : Level II Trading

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To: ExCane who wrote (472)	4/15/1998 6:29:00 PM
From: Darren	Read Replies (1) of 1086

"I was about to say it's not worth it to "discuss" this with you but people obviously read this stuff so here goes- A MM OR AN ECN can cancel at any time before an execution, period. I don't mean to sound critical.but that's the way it is. "I can preference the third bid down if I want to, but I'll never get hit...any trader would be able to tell you that." is there anything there that makes sense? Preferencing a bid implies selling to a bidder, you getting hit?, do you mean executed?, and again the stacking order means nothing as to their inclination to fill you. Proving anything, no, just offering up experience. I wish you luck.No offense meant. I visit this thread for the occasional wisdom it provides. DRRISK seems to be an intuitive position trader, and an entertaining guy. Seeya." I beg to differ. A market maker cannot back off from the inside bid when SOES'ed. That's half the reason the system exists. But hey, you know it all. You're the man. Just quit putting this garbage in my box...and thanks, but I really don't need your luck...

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