Anyone get IB Positions Liquidated ?
- Thread starter Glenn_Dude
- Start date
I have gotten my position liquidated by IB once. It cost me $300 ($150 loss on the liquidation and the $150 I would have made ten minutes later.) When I checked the website for a VERY careful reading of what their rules were, they were within their rights to do so.
I urged them that the TWS should warn when position is about to be liquidated, say ten minutes before. In addition, I pleaded with them that there was a potential bug in the software (having to do with MOC's) where their current algorithm would fail and it could be potentially catastrophic for the trader (trader has a MOC order to offset a current pos - the pos is liquidated by the software automatically - trader CANNOT get out of MOC order and now WILL HAVE a position on he did not expect to have WHEN HE THOUGHT HE WAS offsetting trade! :eek: :eek: :eek: :eek: :eek: MAJOR BUG IN CURRENT TWS AS IT RELATES TO MOC ORDERS AND AUTOMATIC LIQUIDATION OF POSITIONS)
I was told that all of my suggestions were reasonable at the time (last year September.) As of today, I have not seen any of these improvements.
Now I monitor my margin requirements/expenditures VERY carefully.
nitro
Yes , S.S.Futures....Since MSFT split , TWS figured I was losing (+)(-)$25 a share X100 share per S.S.Future & we're talking lots of dough
Also , not only TWS figured I was down $25/share ,Because of the price was half Fridays' , It magnified it by two times . Meaning , if I owned 100 shares of MSFT on Friday @$50 a share ,and now MSFT @ $25 I should be loosing only $2,500.00 per 100 shares , BUT , because of the split ,TWS was showing $5,000.00 loss per 1 S.S.Futures contract
def
Sponsor
This might be the first SSF stock to split and either we (IB) messed up the split or poor information was sent to us from the clearing house. Either way, I'm sure the position will be corrected.
Nitro, I'll also bring your concern to the appropriate people and perhaps an adjustment can be made to the algorithm. However, the available margin in your account is visable and all traders should know when margin reverts from 4:1 to 2:1. Thus it is ultimately the clients responsibility to make sure they have enough equity in the account so they are not liquidated.
Nitro, I'll also bring your concern to the appropriate people and perhaps an adjustment can be made to the algorithm. However, the available margin in your account is visable and all traders should know when margin reverts from 4:1 to 2:1. Thus it is ultimately the clients responsibility to make sure they have enough equity in the account so they are not liquidated.
Why would the number of SSF contracts be adjusted? The only thing that should have changed is the actual margin required to hold the position - that margin should have dropped by 50%.
The cash value of the contract dropped by 50%, but since you don't pay cash for them I don't think the number of contracts held in an open position should change at all.
