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limit order to buy an etf placed at ask price and ask price suddenly rises

I have noticed that frequently when I place a limit order to buy an etf during trading hours at the ask price the ask price will immediately rise and my order doesn't go through. I am using the Fidelity trading platform. Has anyone else found this to be a problem. Why does it happen and how does one avoid it.


  • I would ask Fidelity, but it's possible placing your order refreshes the screen you see. The screen may not be refreshing on its own every time the ask changes. I don't think your order is doing it, especially if it is a commonly traded etf. Not sure why it always goes up instead of down.
  • Markd:

    I have observed what Huber says. I also use Fidelity brokerage and Charles schwab. I see the level II data in Schwab Street Smart Edge.

    May be Fidelity senses your order entry and some how moves up the ask price or the bid price.

    After entry in the order page I hold it until until a down tick in the trading occurs and send it in market order.

    Even for options they Fidelity fills at the right price as you would done yourself in limit order
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