Re:Guy trading at home caused the flash crash of 2010
by T-zex on Wednesday April 22, 2015 @01:39PM
(#9422085)
My understanding is that this guy did exactly the same thing you've described a HFT would do. The intention of $10.01 is to move a price, not to get a fill.
[ Parent
| on HN ]
Re:Guy trading at home caused the flash crash of 2010
by tptacek on Wednesday April 22, 2015 @01:44PM
(#9422110)
No, the intention of 10.01 is to capture the fill when the market goes there. The intention of a spoofer is to induce the market to go somewhere it shouldn't, jump the hell out of the way so as not to fill at that bad price, and then profit from the correction back to the right price.