Bot Trading

[Wysiwyg]

A lot of brokers offer algos that will break up your orders and target certain prices.

For instance IB has IBALGO where you can specify the urgency that you want your order filled, the time to start it and the price that you're targeting such as VWAP.

Pretty handy tools IMO, especially if you need to do a fair bit of size.

Is that one brokerage fee for the whole order until filled regardless of possibly days to fill?

 

[RowanC]

Is that one brokerage fee for the whole order until filled regardless of possibly days to fill?

It's only one brokerage fee if it gets filled that day. However it's additional brokerage if you still have a partial order to fill.

However depending on the urgency of the order and how long left to fill it - and the liquidity of the stock of course - you can generally get it done.

It's not perfect - but useful.

 

[Boggo]

A lot of brokers offer algos that will break up your orders and target certain prices.

.

In the case of BKN there was about a million on the bid at 3.22 so anyone could easily dump a large order in there, that is unless they have an order that is bigger than the bid side and they want to keep the bidders at that price.

Three substantial bidders at the close, was five earlier.

The other view could be that they are making sure it doesn't climb ?

Someone will explain it I guess.

Always interesting to watch it happen.

(click to expand)

 

[Boggo]

It's only one brokerage fee if it gets filled that day. However it's additional brokerage if you still have a partial order to fill.
...

Trader Dealer broking used to have that on Australian stocks prior to them getting taken out in the Opes Prime crash landing in 2008.

Some on here would remember all that !

One broker fee for one stock in one day, regardless of how many trades you had on that one stock in one direction.
It was great as you could scale into stocks as they rose during the day.

 

[Habakkuk]

Trader Dealer broking used to have that on Australian stocks prior to them getting taken out in the Opes Prime crash landing in 2008.

Some on here would remember all that !

One broker fee for one stock in one day, regardless of how many trades you had on that one stock in one direction.
It was great as you could scale into stocks as they rose during the day.

Trader Dealer are still around but seem to have changed name to Sequoia Direct
=www.sequoiadirect.com.au/investor-centre/pricing-and-fees/
with the same arrangement and pricing where you can split orders.

There are other brokers that offer these accounts, like Amscot, Morrison and Open Markets if you trade enough volume.

 

[nioka]

Good reading. Google "The Great Australian Investment Ponzi" and look for the ways that bot trading is used for fraudulent Pump and dumps.