As we all know Motorola Mobility Holdings rocketedup 60% in pre-market trade today, from $24 to $38.
However as the SB firm i trade through doesn't offer pre-market quotes,
the 1st prices it gives is when the market opens at 2:30pm (UK time).
And so as the last price being displayed before the pre-market was friday's close of $24.50,
i created a buy order to be triggered at $24.73 for £5 per point.
Hoping that the market would open, my trade would get filled if there was a few seconds of delay of price being updated,
and then few seconds later it would gap up to today's price,
and id have almost £6,000 net profit!
However i made the huge huge huge mistake of not bothering to check the details of the buy-order closely enough,
and so didn't check what the margin requirement was for this trade!!! :'(
2:30pm came and for the 1st 11seconds my SB firm was offering buy price of $24.50,
however my order failed to execute!!!
I got automated-email 1minute later notifying me that order had failed to execute due to insufficient funds in my account!! :'(
What had happend was as i hadn't bothered to enter a manual stoploss for this trade,
the had used the maximum margin requirement (380points per contract) for the trade as the requirement!
And so they were saying that the margin-requirement to of made that trade was £1,900,
but as i didn't have a spare £1,900 capital the trade failed to execute, but she then said that if i had entered a stoploss value that they would have executed the trade at that buy price!! :'(
How the fcuk do you pyschologically cope with missing out on making a 400% risk-free return profit on your entire capital just because of a fat-finger mistake??!!
However as the SB firm i trade through doesn't offer pre-market quotes,
the 1st prices it gives is when the market opens at 2:30pm (UK time).
And so as the last price being displayed before the pre-market was friday's close of $24.50,
i created a buy order to be triggered at $24.73 for £5 per point.
Hoping that the market would open, my trade would get filled if there was a few seconds of delay of price being updated,
and then few seconds later it would gap up to today's price,
and id have almost £6,000 net profit!
However i made the huge huge huge mistake of not bothering to check the details of the buy-order closely enough,
and so didn't check what the margin requirement was for this trade!!! :'(
2:30pm came and for the 1st 11seconds my SB firm was offering buy price of $24.50,
however my order failed to execute!!!
I got automated-email 1minute later notifying me that order had failed to execute due to insufficient funds in my account!! :'(
What had happend was as i hadn't bothered to enter a manual stoploss for this trade,
the had used the maximum margin requirement (380points per contract) for the trade as the requirement!
And so they were saying that the margin-requirement to of made that trade was £1,900,
but as i didn't have a spare £1,900 capital the trade failed to execute, but she then said that if i had entered a stoploss value that they would have executed the trade at that buy price!! :'(
How the fcuk do you pyschologically cope with missing out on making a 400% risk-free return profit on your entire capital just because of a fat-finger mistake??!!
