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by fsk
4457 days ago
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The premise of the post is false. If a large limit order is resting on the books, that's an implied option for the HFTs. If you place a large bid at $10.00, the HFTs will buy at $10.01. If the market starts going down, they sell to you before the price crashes more. If the price goes up, you never got your fill. Limit orders don't protect from HFTs exploiting you. What happens is you either don't get filled (price drops to $10.01 and goes back up), or the price drops to $9.99 or less. |
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