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Another reason, but not a prediction, to pick up a penny......................
LosAngeles Times notes; $2.5 million paid for a penny[ coin dealer, since 17]
[source of quote-GOOG
Crude flash crash about 15 mins ago... scary
- Thread starter BrandNewTrader
- Start date
Another reason, but not a prediction, to pick up a penny......................
LosAngeles Times notes; $2.5 million paid for a penny[ coin dealer, since 17]
[source of quote-GOOGi told u the price action was erased. that bar that the purple arrow is pointing at should extend down to 47.65. read my two original posts
And I am trying to tell you that what you saw was phantom data bits. The price "should not" have extended down to 47.65 during the time-frame you mentioned, because it never actually did. Read my post. Must be the West Africa data feed problem.
If you feel nervous about a .25 drop in CL, during what you consider a "flash crash", then I pray you never venture into HO or RB. Those two will rip you a few new holes, and the implements will be rusty. Stock up on tetanus vaccines!
West Africa data feed problem? That doesn't make any real sense so you are just commenting like a smug fuxk. So you're saying IB had a glitch and then decided to erase the evidence after the fact? If you look at my posts, I was describing what happened in real time. If it was a bigger dip then Nanex would have the mircosec by microsec play by play. But it was only $0.25 in an instant. Funny how the price ended up trading there in the longer term over the course of the day.
Maybe I shouldn't have used the term flash crash. has provoked some silly shit from you lot of seasoned market vets. i just find it scary that my IB server connection craps out (so it is the server, not my connection. i still had internet) during an algo attack on a position i am holding. this is coming from a guy who has been trading options since the beginning. i understand futures but it's not until you are holding 10 futures contracts (vs 10 options contracts) and the price gaps against you that you FEEL and understand the price action. I was up 2.5 grand and not looking to sell anytime soon. gave up another 3 grand by getting out. Would have made no money had i been stopped out. How can I trade size in a futures market that behaves this way? This is algo carnage.
Nothing was "erased" per se...The data feed just corrected itself. It happens from time to time.
No, you told us what happened to your charts in the 60 seconds you were disconnected from the market. That is not real-time, that is delayed.
I am not a "seasoned market vet", yet, but I have seen my share of wonky behavior in the futures world. And in futures, there are no "gaps". Sorry you don't have a better data feed to see that bit. And if push comes to shove, and you lose Internet and are panicking, wouldn't you just call the live desk of your broker to manage your positions? That's what people did 20 years ago. That stuff still works you know! Oi!
You are jumping your gun there I think.
I've been trading options for 10 years, but in many ways I am still a brand new trader...
all advice taken humbly. @Overnight I think i misinterpreted your west africa data feed comment. blame it on the times being way too political and safe spaced...
Just for "fun" I worked out the impact of a 25 cent move in Crude, if I was holding the largest possible position I've ever seen in my backtest (4 contracts), based on my capital (£400K).
The answer: 0.2%
GAT
The answer: 0.2%
GAT