Unfortunately, my exact experience with cancelling, but with a twist. I tried selling MSFT in the morning - I tried to find a level just under the bid - mindful of Vet's admonition. Well, it didn't execute, so I tried cancelling, as the price dropped. It kept showing "cancelling" for 8 minutes. In that time, the price went below my level, and then started CLIMBING ABOVE my level - at which point, it showed EXECUTED - and the time stamp was less than a minute after my original order!!!!
Something is extremely wrong. If I can't cancel, at least show me that it executed in time - this way, I'm prevented from buying back in on the way up! It seems almost as if the order is held until it can be filled depending on the way the market moves - and then it shows the time stamp some ridiculous 40 seconds - after "cancelling" for 8 minutes.
Now, when I put the order in originally, ISLD was not the inside bid, so maybe the Snet it out - but my understanding is that it takes 10 seconds to cancel a Snet order. Since it apparently filled in 40 seconds (according to the time stamp, which is not reliable at Datek IMO), maybe the MM is not reporting for 8 minutes??
Who the hell knows. All I know, is it makes trading not possible - or more exactly, you can't scalp reliably. Maybe only position trade. |
