The market if touched would seem to be an exact replica of the spider's attacking when the thread is tripped. The brokers have a variant of that called a "ghost order" that is not on the books anywhere but is triggered whenever a bid or offer hits the price electronically that maintains the privacy of the spider's plan.

Gibbons Burke writes: 

In the days of the dinosaur, when physical pit trading reigned supreme, the would-be spiders with resting M.I.T. orders could be gauged by the size of the deck of order tickets held in big-fish client's brokers hands. The hunting raids mounted by locals called "gunning for the stops" often caused the would-be predators to become prey.

This game is now being played by the new locals (co-locals?) - the HFT bots at the speed of light.

Speaking of the speed of light, and a different order of M.I.T., some smart fellows there have created a camera which is so fast (a trillion frames per second) it can take a movie of a packet of photons - a laser light bullet a millimeter in length - traveling through a soft drink bottle:

Here is a nice TED talk from Ramesh Raskar on "imaging at a trillion frames per second".

Victor Niederhoffer writes: 

One believes that a buy market if touched order rests below the current price. And a sell market if touched order rests above the current price but the spirit of taking advantage of the weak is the same.

Jeff Watson writes: 

Furthermore, MIT orders, buy stops, sell stops, GTC orders, etc if held at the exchange or their servers become part of the market and are served to the inside players as delectable morsels to snack on.

William Weaver writes: 

Even orders that are held on a broker server can be seen by others within that brokerage… I was exploring Bberg the other day and found a function that allowed me to see what other orders rested within the firm. I've been keeping orders personal server, or CPU side for a while, but after that discovery I've become even more paranoid (not that I am a big enough player to get attention, but sometimes it seems like it is statistically improbable for prices to all but reach my take profit only to reverse and get almost to negative where I exit flat).

Anatoly Veltman writes: 

Just to remind us, today's slippage on filled orders is only one tick, or even half-tick. It is the slippage on unabled limit orders that's a real killer. In the previous discussion of how HST effects long-term investors, who are "forced" to wait in queue for execution…yes, the sheer volume of short-term predatory activity, which occupies certain time on exchange server, and could go awry - could spill into a more illogical (random) near-term direction. Long-term is a series of short-terms to a degree - and all this short-term activity may be adding to randomness. This is liable to confuse the heck out of longer-term thinker and leave him entirely outside of the trade: we hear more and more how this or that traditional indicator has become a victim of fake-outs. 





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