if the price went above his limit price then the execution should not have occurred .... period. he should find the log files and file a complaint, no matter how many days have passed.
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Devastating after hours trade...SCREWED!!
- Thread starter gster210
- Start date
if the price went above his limit price then the execution should not have occurred .... period. he should find the log files and file a complaint, no matter how many days have passed.
Great point.....why else would someone try and place a limit $10 below the closing price if not to take advantage of another trader hitting your (OP's) bid, ceteris paribus.
Quote from BCE:
Reading your comments again it seems you were willing to be filled on someone else accidentally mistyping their order. Sounds like that would be okay with you. If that happened and they voided the trade would you be mad about that?
As someone already mentioned (in less detail), you do have 20 minutes to break a trade if it is a clear mistake and grossly outside the range of previous trades in the stock. This is an exchange policy, not an IB policy. It's too late now, but you definitely need to be aware since it's going to happen again if you use TWS long enough and are going to mess around when stocks are illiquid.
http://www.nyse.com/pdfs/NYSEAmexObviousErrorRule.pdf
http://www.nasdaqtrader.com/trader.aspx?id=clearlyerroneous
http://www.nyse.com/pdfs/NYSEAmexObviousErrorRule.pdf
http://www.nasdaqtrader.com/trader.aspx?id=clearlyerroneous
Quote from jonp:
you're lucky you covered your ass at 86, cause this market is going up! stop being such a hero shorting individual stocks, holding 15% losses and then say you screwed when you take the loss. and to atticus^ i don't think it's considered being a cock if you put in a bid for a stock 10$ below it's closing price... there's a reason AH is called amateur hour.
He's a hypocrite for crying foul when getting picked off when that's exactly what he was attempting to do. He got screwed on 50 cents, but was fine to screw someone out of 10 handles on a fat finger.
I have no problem picking someone off, but don't flap your labia looking for sympathy when you lose while attempting to do so. It was obviously a mkt order or he typed an 8.
It was most likely your mistake and I can almost guarantee if you check the logs again you will see that you entered a buy STOP limit instead of a buy Limit. You chose the wrong order type. A buy stop limit would protect you if your short position exceeded a certain price and then would become a market order. In this case you entered a buy stop limit order at 76 but since the stock was already trading above that price it was automatically triggered and became a market order and filled at the price that was currently available. So you would have seen 76 on the screen when entering order but you didn't check the order type enough times to see the error.
you should try it more in order to draw any valid conclusion.Quote from gster210:
Hi all,
During AH Friday....I put in an order thru IB for ten dollars LESS than the current price of a stock I had shorted, that had risen...just to see if it would get hit...if someone really wanted it or mistyped.
....