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by umanwizard 4457 days ago
Your example doesn't make sense to me. Why would you place an order to buy for $102 if there is an offer for $101 ?
2 comments

Prices move, so traders add a bit of leeway if they want to be sure the trade will execute. The worry with HFT is that the price will move solely in order to screw over this particular trade, rather than as a reflection of overall market conditions.
Just because there was an offer for $101 when I decided I want to buy, doesn't mean there will be an offer for $101 by the time I get around to placing my order.