Bid higher than ask!
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Thread: Bid higher than ask!

  1. #1
    I just saw the strangest thing I ever saw seeing spreads after the U.K retail sales numbers only now. I am not going to record my broker since I am new and that is against the rules, but I will tell you it is an comish based ECN rather than a market crook, er... I mean maker:--RRB-

    The bid on GBP/USD was greater than the ask for several minutes. The EUR/USD and AUD/USD, afterward EUR/JPY last. It had been pips. I actually bought GBP/USD and thought well if I could flip it, why not! The spread fixed after my buy (as a result?) , and that I had been gettign ready to place a EUR/JPY order but these also adjusted. Goof up at the broker? I'd think the broker would fit orders internally if nothing else. Has anyone seen this before?

  2. #2
    I am not allowed to say since I am nooberiffic.

    However, allow me to ask you, have you ever been able to reverse lots? Buy on the reduced ask, and then reverse it to market on the greater bid? Or vice versa?

  3. #3
    Quote Originally Posted by ;
    I am not permitted to say since I am nooberiffic.

    However, let me ask you, have you ever been able to reverse lots? Buy on the low ask, and then reverse it to sell to the greater bid? Or vice versa?
    I've just benefited maybe once or twice to get several pips because I'd preset orders . It happens so quickly, I can't see Having the Ability to exploit it without some kind of fancy automation exploitation auto trader :

  4. #4
    It lasted for what seemed like an eternity following the retail news. As soon as I placed my order, the spread corrected immediately along with a large down-candle was drawn. It seems like my order may have corrected the gap somehow.... very strange.

    In any case I would be happy to act as market maker (not crook) and pass orders between buyers and sellers to get profit if they want me to:-)

  5. #5
    I tried buying the reduced ask but could not do it at MBT

  6. #6
    I've seen this also on EFX during news. I think its very risky to try and arb it, even with limit orders and automation(for speediest possible response time). If you get a fill on the very first order, the risk of no fill limit orders or slippage on stops/marketorders is high on the departure of such a transaction, since this occurs only in fast markets. When there were basket orders (preferably with a fill or kill alternative ) with this platform, it'd be well worth a try with the API.

  7. #7
    You are referring to this secret....Whack - A - Mole....egy, made by carnival employees to get alpha, in Foreign Exchange money they handle.

  8. #8
    Quote Originally Posted by ;
    Well I just saw the strangest thing I saw seeing spreads after the U.K retail sales numbers just now. I am not going to list my broker because I am new and that is against the rules, but I'll tell you it is an comish based ECN rather than a market crook, er... I mean maker:--RRB-

    The bid on GBP/USD was higher than the ask for several moments. The EUR/USD and AUD/USDlast. It had been pips. I actually bought GBP/USD and thought well if I could flip it, why don't! The spread fixed after my buy (because of?) , and that I had been gettign ready to place a EUR/JPY order but those also corrected. Goof up at the broker? I'd think the broker would match orders if nothing else. Has anybody seen this before?
    Yep in a fast market I have seen this very often and I believe you are speaking of MB/EFX.

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