I have a question about a limit order, or any non-market order for that matter, like a GTC limit order.
My question is that, if I change the price, or quantity, of a limit order, will the system immediately reset the queue position of my order in the order book to the very end, or will the system still keep the queue position of my order in the order book at its original position?
If latter, will people abuse this system? For example, people place GTC limit orders, and they keep adjusting the price according to the market condition, while still maintaining their orders' front-of-line queue position, so that when the price meets, their orders will be filled first.