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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: - who wrote (4595)	10/3/1999 3:27:00 PM
From: E. Davies	Respond to of 18137

With limit orders, it'll work your order incrementally up/down above/below the inside market. It is good to get confirmation of this. Obviously some % of the order will be sent to the MM who likely will be ignoring your order so that portion is lost. If the MM drops his bid (without a fill of course) does ARCA immediately resubmit the order at the new bid? As I said before I'd love to see a order method which says "ignore market makers", they are often more trouble than they are help. Eric

To: - who wrote (4595)	10/3/1999 3:53:00 PM
From: Tai Jin	Read Replies (1) \| Respond to of 18137

Where did you get the idea that ARCA only works your order at the inside market? With limit orders, it'll work your order incrementally up/down above/below the inside market. That's a big part of it's capability. From my limited experience using ARCA, it always seems to just work with the best bid or ask. I've never seen it work my order at the next level unless the inside market moved to that level. Correct me if I'm wrong. There are two ways to work a limit order: 1) always work the order at the inside market up to the limit, or 2) work the order anywhere up to the limit. In my trading I almost always want (2) and the advantages are clear in a fast moving market. ...tai