This article explores how different types of investors make decisions when submitting orders in the Australian Stock Exchange. It found that institutional investors tend to be more aggressive in their trading when market conditions change, while individual investors adjust their strategies as the trading day progresses. The removal of broker IDs on the ASX led to investors being more willing to display their orders in the central limit order book. Additionally, the study showed that institutional investors' limit orders are more informative about future market volatility compared to individual investors' orders.