IB customers lose $88m trading WTI crude

[DarthSidious]

If they lost $60 a contract then they were long 1,466,666 contracts.

Uhhh.... Down 60 on the ticker means down $60,000 in P&L, not $60. If you mean down $60 a contract that means down 6 ticks a contract, which obviously is chickenfeed and not what we are talking about

 

[ZBZB]

Uhhh.... Down 60 on the ticker means down $60,000 in P&L, not $60. If you mean down $60 a contract that means down 6 ticks a contract

Well spotted, that is only 1,466 contracts then.

 

[schizo]

The knuckleheads on ET think the margin requirements are too high......

Whoa, hold on to your pants for a moment. It wasn't like you woke up to find that CL gapped down into the negative territory in the AH. No, CL actually dropped below zero during the RTH session. It occurred exactly at 14:05 EST. Hence, IB should have been able to auto-liquidate accounts that were trading below their margin requirement.

 

[ZBZB]

Individuual oil traders strategy at IB must have been buy the dip but it didn’t work yesterday.

 

[DarthSidious]

Schizo, give up. IB fanbois will be IB fanbois till IB'a auto liquidation algo does it's number on their accounts

 

[Nighthawk]

Let this be a lesson to every "rookie" out there.....!

 

[DarthSidious]

View attachment 225668 View attachment 225668

Let this be a lesson to every "rookie" out there.....!

Post the actual link. I read this already. Says he was able to get out and made out like a bandit. Got lucky, of course, but made out like a bandit

 

[Fain]

My thoughts exactly. I'm afraid of what will happen once Peterffy is out of the picture - he's an old-school trader and risk manager to the core. The same can't be said for ET retailer yahoos or the assorted FinTech bros, or these days even the big Wall Street firms.

He's already out of the picture. The current president runs things. He just shows up for TV appearances, and conferences.

 

[schizo]

View attachment 225668 View attachment 225668

Let this be a lesson to every "rookie" out there.....!

I dunno but this sounds too phony. Only a rookie would fall for these pranks. Sorry, just my 2-cents.

 

[southall]

The knuckleheads on ET think the margin requirements are too high......

IB are fucking clueless.

Posters noted on the other ET thread that the CL margin was way too low compared to ES months ago.

Push ES to $36,000 margin but have much lower margin on a contract that can lose 300%+ in a day.

Seems like IB also didn't even know about the new negative pricing on the CME.