Brokers and filling illegal orders

[alexandercho]

oh, I see

 

[jeb9999]

Quote from alexandercho:

No, but that limit order was bought while the value of the contract was going down in value and it went down all the way to 9 Dollars per contract. That order was not put their so that I can buy a falling knife.

Nothing new under the sun. It is an old joke by Will Rogers from 1929.

“Don’t gamble.” Take all your savings and buy some good stock, and hold it ‘till she goes up. Then sell it. If it don’t go up, don’t buy it.


BTW, you shouldn't be playing with knives or anything else sharp in the drawer.

 

[alexandercho]

It wasn't meant to be a gamble I just err.... didn't pay attention to a small detail and that's the result.

Next time, it won't happen again. I'm never going to use a limit order again when I'm anticipating a breakout in the morning.

Instead I ended up buying a shakeout without having a stop limit in place. Well, every trader even experienced ones make mistakes and this is definitely going into my trading system.

(Proverbs 16:17) The highway of the upright ones is to turn away from bad. One who is safeguarding his way is keeping his soul.

 

[spindr0]

Quote from jeb9999:

Nothing new under the sun. It is an old joke by Will Rogers from 1929.

“Don’t gamble.” Take all your savings and buy some good stock, and hold it ‘till she goes up. Then sell it. If it don’t go up, don’t buy it.

BTW, you shouldn't be playing with knives or anything else sharp in the drawer.

"A foolish order and the money will soon be parted."
(Market Proverbs 101)

 

[MTE]

Quote from alexandercho:

It wasn't meant to be a gamble I just err.... didn't pay attention to a small detail and that's the result.

Next time, it won't happen again. I'm never going to use a limit order again when I'm anticipating a breakout in the morning.

Instead I ended up buying a shakeout without having a stop limit in place. Well, every trader even experienced ones make mistakes and this is definitely going into my trading system.

(Proverbs 16:17) The highway of the upright ones is to turn away from bad. One who is safeguarding his way is keeping his soul.

I suggest you really educate yourself on the type of orders and how they work before making the next trade. Otherwise, you'll be screaming foul the next time you use a market order and get 10% slippage.

 

[number22]

Quote from alexandercho:

Well, every trader even experienced ones make mistakes and this is definitely going into my trading system.

(Proverbs 16:17) The highway of the upright ones is to turn away from bad. One who is safeguarding his way is keeping his soul.

, you should keep your attitude when something goes wrong, sue somebody, it will help you along the way in business.

 

[psytrade]

All you need to ask your broker is where can you expect to get filled on a Gag Order?

 

[dagnyt]

Quote from alexandercho:

I put a limit order at 16USD per contract they filled it at 14 USD per contract, and they bought it for me while the value of the contract was going down even though I wanted to buy the contract while it was going up! Can I pursue legal action for doing something like this?

They filled the order more than 10% away from the limit!

People like you ar out to destroy America.

Always looking to sue somebody. Never willing to accept blame for anything.

No you have no action - unless it was a limit order to SELL

They bought it for you at a fantastic price. They are not mind-readers. They have no way of knowing you want to buy on upticks only. You are a crybaby


Mark

 

[cvds16]

Quote from dagnyt:

People like you ar out to destroy America.

Always looking to sue somebody. Never willing to accept blame for anything.

No you have no action - unless it was a limit order to SELL

They bought it for you at a fantastic price. They are not mind-readers. They have no way of knowing you want to buy on upticks only. You are a crybaby


Mark

I couldn't agree more, this was not a simple 'mistake', the guy has totaly no idea what he is doing ! He should and will lose a lot of money trading options.

 

[TraderZones]

Quote from alexandercho:

It wasn't meant to be a gamble I just err.... didn't pay attention to a small detail and that's the result.

Next time, it won't happen again. I'm never going to use a limit order again when I'm anticipating a breakout in the morning.

Instead I ended up buying a shakeout without having a stop limit in place. Well, every trader even experienced ones make mistakes and this is definitely going into my trading system.

(Proverbs 16:17) The highway of the upright ones is to turn away from bad. One who is safeguarding his way is keeping his soul.

This kind of error tells us that you should not be trading real money. Risking your trading capital to learn the hundreds of different things that traders ought to know, should be learned on a trading simulator.

Work out all the kinks with play money. Open ECry and some other brokers offer free simulators.

scripture: "Beware he who thinkest he stands lest he falls..."