Anyone else w/open position due 2 zero notification from IB HKFE closing 4 typhoon?

[Trader_Herry]

Quote from gangof4:

thanks Dan for the bloomberg link.

unfortunately, the sgxnk doesn't correlate very highly to HHI. the closest i've got is STW (Taiwan)- i'm sitting here contemplating, as it's not a great alternative either (much better than NK though).

kinda get the feeling that whatever i do, it may just add to my risk. geesh, ANY market but HK, and certainly anything but the HHI- geesh. so much for sleeping tonight...

SWT is not really too corelated nor SGXNK. There is one which is highly correlate to HHI, and this is HSI. Unfortuntately it is closed too.

I think your best bet is to hedge by the Asian futures. Just pick any one you think the best. Asian markets act roughly on the same way in these few days. When they gap down, all follow and vice versa. At least it can offset your loss (although maybe partially) if you are on the wrong side.

Any Asian futures are really risky when you carry positions overnight. Their gaps become pretty big recently.

 

[Trader_Herry]

Quote from joesan:

This typhoon is running very fast. Probably the HK observatory had underestimated its impact on HK. But IB HK office, next time a typhoon approach, please keep more attention to the weather forcast RADIO during the day ( RADIO will definately respond much faster than online weather information) and make a notification to customers more quickly than this time. It is currently a very volatile market , HSI gapped 680 points lower today and HHI gapped about 500 points lower today, if you did not have time to close at least some of the positions before close of the trade, holding bigger-than-normal size of positions overnight ( oh, I mean , overweekend ) will definately be a crucial psychology test . [/B]

It didn't catch us all of a sudden.
HK Observatory provided a pre-warning saying that they may have to hoist No. 8 Typhoon signal on that day. As expected, it finally acted and hoisted the signal. Usually when you notice HK Observatory hoisted No. 3 Typhoon signal. You need to watch out.

If it happens to you next time, try to hedge by another major Asian futures you like. If HK futures gaps largely, other Asian markets will mostly follow, especially recently. Your loss should be able to reduce by much, even if you can't completely offset.

 

[robinxing]

What therefore is a ts strategy price?

it stands for Tradestation strategy price

I autotrade with tradestation and IB

 

[gangof4]

Quote from kiwi_trader:

Glad to see some positive outcomes Go4 ... I have added the HK weather monitoring site to my favourites but I will probably forget it again given the rarity of such events (and hopefully they will be rarer in future IB ) [/B]

thanks. yeah, i added the HK weather as well- i don't want to go thru this again. funny, my reluctant decision to take a position in my nemesis, the SGXNK, saving me- haven't had a positive yen balance for a loooonngg time.

btw, given what you've said about your trading, i didn't think you could be scalping that close with booktrader. it's definitely not robust enough for my needs and i am considering buttontrader. do you use buttontrader or something else?

 

[gangof4]

Quote from Trader_Herry:

SWT is not really too corelated nor SGXNK. There is one which is highly correlate to HHI, and this is HSI. Unfortuntately it is closed too.

I think your best bet is to hedge by the Asian futures. Just pick any one you think the best. Asian markets act roughly on the same way in these few days. When they gap down, all follow and vice versa. At least it can offset your loss (although maybe partially) if you are on the wrong side.

Any Asian futures are really risky when you carry positions overnight. Their gaps become pretty big recently.

yeah, the gaps is why i was rather frantic. funny how it took a 3-1 hedge using the STW ES and SGXNK to cover the HHIHK. of course, that's about what you'd expect given the wild ride with the HK markets.

 

[gangof4]

Quote from def:

I'd like to add to this as well. If indeed you had a stop set to trigger at 21747, you rec'd a superb fill with ZERO slippage - all within a matter of milliseconds. I've attached the bloomberg T&S.

As the facts seem to line up against you, perhaps you'll give some additional thought and research before posting a negative quote about IB or any other broker for that matter. But given that you're an upstanding individual, I'm sure an apology will be forthcoming.

for Steve or Def:

what was the reason for the lack of depth showing tonight in the HSI and HHI? often, only the closest B/A showed tonight. any idea why?

as an aside- wish i could say the same (ie; no slippage)- my slippage on stops tonight was the worst i've seen- even when there were limits showing above (or below) my stop. my executions on my stops were the single greatest near term reversal signal i've ever seen! :eek: don't know why i bother with anything but protective stops (ie: away from the noise) with the HK exchanges- they cost me 5x what they save me. one day i'll learn...

 

[Trader_Herry]

Quote from gangof4:

yeah, the gaps is why i was rather frantic. funny how it took a 3-1 hedge using the STW ES and SGXNK to cover the HHIHK. of course, that's about what you'd expect given the wild ride with the HK markets.

May I ask why you use STW, ES and SGXNK to hedge your position. How many contracts did you carry over last Friday?

 

[Trader_Herry]

Quote from gangof4:

for Steve or Def:

what was the reason for the lack of depth showing tonight in the HSI and HHI? often, only the closest B/A showed tonight. any idea why?

as an aside- wish i could say the same (ie; no slippage)- my slippage on stops tonight was the worst i've seen- even when there were limits showing above (or below) my stop. my executions on my stops were the single greatest near term reversal signal i've ever seen! :eek: don't know why i bother with anything but protective stops (ie: away from the noise) with the HK exchanges- they cost me 5x what they save me. one day i'll learn...

This problem sometimes happens to me too. It turns out it only shows up as best bid/ask only. I need to close and reopen BookTrader to let them show 5 bis/asks again. Really annoying.

 

[Steve_IB]

Quote from gangof4:

for Steve or Def:

what was the reason for the lack of depth showing tonight in the HSI and HHI? often, only the closest B/A showed tonight. any idea why?
...

I wasn't aware of any problems with HK market data in todays session. Let us know tomorrow if you see a repeat.

TH and go4 - also please let us know if this happening in Market Depth, BookTrader or both?

 

[gangof4]

Quote from Trader_Herry:

May I ask why you use STW, ES and SGXNK to hedge your position. How many contracts did you carry over last Friday?

like is said, it was a 3:1 ratio (1 each of the others per 1 HHI).

after HK closed, i needed to do something. the STW was still trading, and it correlates better to HK than SGXNK. still, i knew the ES was going to drive the boat and didn't think a 1:! HHI:STW would cover me, so i used the ES too. once SGXNK started trading, and with the news of another bank failing in Taiwan, i decided to add the SGXNK today.

as it turns out, i needed the SGXNK (and the 195 point move i somehow snagged), as the ES and STW did not cover the move in the HHI (especially given where i closed the position!).

all in all, it worked out- but it was a lot of work and worrying- that and my friday trading the US market was wasted.