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Big orders should be shown in small pieces, so that the full size is not known to the market.
Published by The Retail Trader · JUL 31, 2026 · Order Flow
Disclosed Quantity / Iceberg — Big orders should be shown in small pieces, so that the full size is not known to the market.
This term comes under Order Flow, in the "TYPE OF ORDER" section. Every order type has a trade-off: either you get control of the price, or a guarantee of execution — not both:
Other terms in this group — understanding them together is more useful:
• Market Order
• Limit Order
• Stop Loss (SL) Order
• SL-M (Stop Loss Market)
• Trigger Price
• Bracket Order
• Cover Order
• GTT (Good Till Triggered)
• AMO (After Market Order)
• IOC (Immediate or Cancel)
• Day Order
To read the entire group and all its examples in one place, see the journal "ORDER FLOW: FROM ORDER TO EXECUTION" - this term is taken from there.
This entry is for educational purposes only and is not a recommendation to buy or sell. Exchanges change charges, margins, lot sizes and expiry rules from time to time, so verify any figures with your broker or exchange.