Hope you're not short ES
- Thread starter taodr
- Start date
Write this down in large print in your rule book:
Amongst the most efficient and cost-effective ways to hedge yourself in the event of Globex fucking up again is to immediately hedge yourself with Dow minis... alternatively, go for 800 QQQ per NQ or 500 SPY per ES... forget about precise hedging, an approximation is all you need
Amongst the most efficient and cost-effective ways to hedge yourself in the event of Globex fucking up again is to immediately hedge yourself with Dow minis... alternatively, go for 800 QQQ per NQ or 500 SPY per ES... forget about precise hedging, an approximation is all you need
If u have only enough margin for 1 ES-mini contract in your IB acct. Is it possible to buy a YM contract to hedge yourself? That is assuming one was trapped during the globex outage with a short position.
Will IB automatically close my YM position? Hope someone can answer this questions. Thanks in advance
Will IB automatically close my YM position? Hope someone can answer this questions. Thanks in advance
Yes i was short yesterday just before globex went down....1 contract so about 400$ are gone....
Trading is hard by itself and you can protect yourself with rule, tactic trading stoploss and so on, but with this kind of event there is not much to do! Sure don't put in 1 trade all your money so if the things go wrong you don't go broke but still.....
What piss me of is that nobody take his responsibility, i mean , globex went down, the price was on NQ 1100.At least i expect when globex open the price should be the same and not 10 point up, sure for a long position it was good but i belive that nobody should make or lose money in this case .It not right
I receive the bullet from IB at 11:41 about globex so i couldn't do nothing but how can i prove that i receive it at that time and if i could, it will help to have the money back? Any IB user's have the same experience i would like to know!
don't get me wrong the all story it's not a surprise to me after almost 4 year you get use to lose money but still.....it take some days to cool me off
Trading is hard by itself and you can protect yourself with rule, tactic trading stoploss and so on, but with this kind of event there is not much to do! Sure don't put in 1 trade all your money so if the things go wrong you don't go broke but still.....
What piss me of is that nobody take his responsibility, i mean , globex went down, the price was on NQ 1100.At least i expect when globex open the price should be the same and not 10 point up, sure for a long position it was good but i belive that nobody should make or lose money in this case .It not right
I receive the bullet from IB at 11:41 about globex so i couldn't do nothing but how can i prove that i receive it at that time and if i could, it will help to have the money back? Any IB user's have the same experience i would like to know!
don't get me wrong the all story it's not a surprise to me after almost 4 year you get use to lose money but still.....it take some days to cool me off
I think noone expected the failure to last that long.
By the time we got the 14:15CDT ETA, the market already went up and for many shorts it was already too late to hedge.
Besides, for example I had a live order before they halted and I could not even hedge cause I had no idea what would they do with my open order (Sell to close at 910). Fill, cancel, kill the original buy?
So I had to wait till they told me that they would cancel all the live orders. If I did hedge and sold some YM short when SP were 910, then I could have ended up with short YM at a very low price and with closed ES at 910. Lose again.
I think the problem is that Globex took too long (almost 3 hrs) to reveal its plans.
By the time we got the 14:15CDT ETA, the market already went up and for many shorts it was already too late to hedge.
Besides, for example I had a live order before they halted and I could not even hedge cause I had no idea what would they do with my open order (Sell to close at 910). Fill, cancel, kill the original buy?
So I had to wait till they told me that they would cancel all the live orders. If I did hedge and sold some YM short when SP were 910, then I could have ended up with short YM at a very low price and with closed ES at 910. Lose again.
I think the problem is that Globex took too long (almost 3 hrs) to reveal its plans.