Going to mention this now. This was told to me
Post# of 86996
(Total Views: 655)
Posted On: 08/15/2021 2:05:00 PM
Going to mention this now.
This was told to me one year ago by a long that no longer posts.
This person was a professional trader.
This is in reference to selling shares. Some of you may already know this, I didn't.
It was in response to my private message as to how can I sell 35,000 @ $4.
His answer was speaking to what happens once we are on Nasdaq, which should be soon.
I am going to write my question and his answer verbatim.
Q:"I have a selling question. Say we uplist and go to four dollars and I want to sell 35,000 shares @ $4. That's a lot of shares at that PPS to drop on the ask at one time.
Do the MM's put smaller blocks of the ask for me, or do I have to put small blocks on the ask myself. never had the opportunity to sell that many shares at that dollar range."
A: The order will appear the same way you have it entered, as a block. You 're only using the MM's routing system when you place orders. Whatever order you place is the order routed to the market. There's nobody in between modifying orders, unless you have a live broker who is handling your money, but I don't think you have that kind of set up. (True, I have TD)
Once on Nasdaq though, you can place the order and use the reserve feature. I think most brokerages offer that on big boards but not on the OTC.
Using reserve, you can hide your full size and display whatever amount you want. So if you display 500, reserved for 35,000 (or 35,000,000), the market will see your 500 and then everyone will wonder how many it's hiding when it prints a few times and doesn't disappear. But 35,000 isn't really a shocking order for the $4 range, especially if volume is good.
I hope this helps someone. I know it helped me. I have more on this in other PM's if you someone wants a little more information.
I am not a financial advisor!! I R a SPARKTRICIAN....LOL
This was told to me one year ago by a long that no longer posts.
This person was a professional trader.
This is in reference to selling shares. Some of you may already know this, I didn't.
It was in response to my private message as to how can I sell 35,000 @ $4.
His answer was speaking to what happens once we are on Nasdaq, which should be soon.
I am going to write my question and his answer verbatim.
Q:"I have a selling question. Say we uplist and go to four dollars and I want to sell 35,000 shares @ $4. That's a lot of shares at that PPS to drop on the ask at one time.
Do the MM's put smaller blocks of the ask for me, or do I have to put small blocks on the ask myself. never had the opportunity to sell that many shares at that dollar range."
A: The order will appear the same way you have it entered, as a block. You 're only using the MM's routing system when you place orders. Whatever order you place is the order routed to the market. There's nobody in between modifying orders, unless you have a live broker who is handling your money, but I don't think you have that kind of set up. (True, I have TD)
Once on Nasdaq though, you can place the order and use the reserve feature. I think most brokerages offer that on big boards but not on the OTC.
Using reserve, you can hide your full size and display whatever amount you want. So if you display 500, reserved for 35,000 (or 35,000,000), the market will see your 500 and then everyone will wonder how many it's hiding when it prints a few times and doesn't disappear. But 35,000 isn't really a shocking order for the $4 range, especially if volume is good.
I hope this helps someone. I know it helped me. I have more on this in other PM's if you someone wants a little more information.
I am not a financial advisor!! I R a SPARKTRICIAN....LOL
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