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

To: OZ who wrote (8440)	6/14/2000 9:21:00 AM
From: eric012	Read Replies (2) \| Respond to of 18137

Sorry it took soooo long to respond... Been away from SI for a while! Okay, re hidden and subscriber orders: Very few firms offer subscriber orders (which appear in the ISLD book - and NOT in the L2) and fewer still offer "hidden orders" - which are visible to NOBODY. What is the advantage of a hidden order (unfortunately you'll be hard pressed to find a broker that allows them- there are only 2 that I know of; Broadway Consulting in NYC and RocketTrading.com)? Here's an obvious use - and there are dozens: say you offer out 10000 shares, hidden, 1/64th below the current best offer. Lets also say that the current best offer is ISLD, and for 200 shares... As the stock is running, and everyone and his brother try to take those measly 200 shares and let the stock run, you sell 10,000! Now, had you went and offered 10,000 in the open market, you might have stopped the run dead in it's tracks... See the possibilities? Subscriber orders are good too - but for obvious reasons not as good as "hidden." Ever try and get stock and recieve a wierd print (a better one) while ISLD's size stays the same? Congrats, you've just been on the recieving end of a trader with that technology...