"...not a rort imo. many folk place bids with brokers and forget all about them. they can hang about for ages. others enter bids based on trends at the time and leave them, hoping. imo there is little rorting here."
It's a rort. Place a bid far away where you know it won't trigger to influence either the Buy/Sell volume. Watch them move further down(Buy) or up(Sell) when/if the depth gets too close. These orders are also used to create 'walls' that traders have to go around to buy or sell.
Oders are also stacked in patterns if you watch carefully.
You and I are limited. CommSec won't allow an order to be broken up into more than about 4/5 parcels, considers it price manipulation. If you place an order to high or low it's not accepted as being 'too far away' from the current price. Orders are also purged after 28 days. So with slow moving stocks, in particularly those that have 15 million or so per tier(like 1or 2c stocks) you have buckleys of executing in 28 days. Brokers are the ones who have orders high up or low down at ridiculous prices.
I'm sure you all notice these rorts when using full market depth like IRESS. I generally don't take anything serious beyond the first 5 tiers. And laugh when people get excited about the Buy side overtaking the Sell side. Nice when happens coz that's time to sell on the pump.
Yes. Rorts galore. Usually the Stock exchange and the Casino are as far left from each other. The last 2 yrs has definitely turned it into pure gambling. Still, I like gambling ;))
