A dynabeat order is a trading order which instructs a broker to raise the bid price or lower the ask price of the securities in question just above the best competing bid price or just below the best competing ask price on a continuous basis. The investor specifies a maximum bid price or a minimum ask price which they are willing to accept when they place the dynabeat order. If the bid reaches or exceeds that level, the order is canceled.
By using dynabeat orders, investors can insure that their bid or offer automatically remains at the top of the order book, giving them an advantage over competing bidders or sellers. The ability to set limits and to have bid or ask prices adjusted (sometimes by the smallest fraction of a pip) to beat the best competing offer makes it possible for investors to obtain the best price possible with the limits of what they are willing to invest or accept.