I'm pretty sure some of the more sophisticated day trading guys have a bot programmed to remove buy side orders a fraction of a second before any sell order can take them out.
So even if you tried to sell into a fake order, it will either vanish before you can execute, or only allow a tiny fraction to be sold into before the rest disappears.
I don't know exactly how it operates in terms of software but I've seen it happen by watch the depth closely before.
LRS General Discussion, page-6320
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Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $559.8M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 20.5¢ | 19.8¢ | $22.94M | 114.8M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 35 | 13941804 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 138281 | 1 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| LRS (ASX) Chart |