Ann: Chatree Gold Mine Update, page-124

Miningnut
those trades that you mis out on are not because of some algorithm or other fancy thing of your imagination, I'm not saying it isn't happening, but with respect ( and I hear stories like yours all the time ) I believe you are mis interpreting what is happening.


let me explain..
ITS all about "at market" orders verses "at limit" trade orders
.
When a person ( other than yourself ) already has an AT MARKET buy order submitted ;
and perhaps there is a gap between the buy and sell price
both the ASX and NZX work in a way where an AT MARKET BUY ( or sell ) order always gets priority over an AT LIMIT buy or sell. so when you put your order in with an AT LIMIT buy price and say I had already beforehand had an AT MARKET buy sitting and waiting for a seller to come lower then it is your buy order which will then push my AT MARKET order ahead to get the first cut of the shares on offer, you then get any that are remaining

simple - AT MARKET trades always happen go before an AT LIMIT trade

(simply put: at market orders TRUMP at limit trades )

remember there is s no way of knowing whether the people closest to the current offer or bid price have placed their order as an AT MARKET or as an AT LIMIT until after you try to get in front of their bid or offer

Hope that helps
kind regards few pennies