IB HSI futures position data was incorrect- now i'm screwed. any recourse?

[gangof4]

Quote from stock777:

Now you know, Closing a dangerous position only a few seconds before the market halts, is probably not the smartest act in the world.

We've all done it, but it's not recommended.

agreed. that said, the last minute of trading when i was short 9 contracts, was a $3000 gain for me. being short wasn't the dangerous position- i could live with being short 3 contracts right now. the faulty data making me buy 3 when i was actually flat- THAT is what is dangerous.

it's like a fucking nightmare. yesterday i decided to increase size really for the first time. hadn't had a down day since the first day of january. so i lose $8,300 trading and then another $xx,0000 due to this. fuck me.

 

[gangof4]

Quote from Trader KGB:

Slightly offtopic - anyone know why the HSI and a few other Asian futures contracts aren't available 24 hours a day yet? It's 2008..

yeah, it's ridiculous. even Taiwan trades an overnight session til after the US open. the HSI having no overnight session is pretty lame. obviously, if this had happened in SGXNK or STW, i could have gotten out an hour later with minimal pain.

the stars were definitely not aligned ofr me on many levels last night. what a great day to size up!?!?!?

guess i picked the wrong day to stop sniffing glue...

 

[Schaefer]

I'm sorry to hear. Do you think it would of helped, if you had used a third party API, instead of IB's Book Trader? For example, Button Trader, or Zeroline Trader?

Good luck,
Schaefer

 

[gangof4]

Quote from stock777:

HSI is a nut job under the best of conditions.

You want to trade it with a 1 lot showing every 200 points?

the HSI is the greatest futures market in the world to trade, imo.

nut job- kinda.
manipulated as fuck- definitely.
all the better to trade- absolutely.

like i said, just picked a really inopportune time to size up in concert with a extremely poorly timed data snafu.

btw, most of my loss last night was stupidity trading the STW for the 1st time in ages- was just waaaaayyy too sure it was overbought and took on size i had no business doing. btw, it was overbought... but it got a lot more overbought and didn't pull back until after taking 5m from me.

 

[gangof4]

Quote from Schaefer:

I'm sorry to hear. Do you think it would of helped, if you had used a third party API, instead of IB's Book Trader? For example, Button Trader, or Zeroline Trader?

Good luck,
Schaefer

nothing like this has ever happened with IB. i've had my share of 10 second executions and the like, never anything like this.

actually, IB has been very solid for me the past several months- until this.

this is an awfully big hit though (whatever it ends up being, it's big)- may be time to step up to something closer to institutional. christ, imagine if all 9 contracts had shown as still open and i'd have gone long 9- i could be looking at >$50m. of course, if we crash in the next 2 hours or in after hours, i could be even with 3...

 

[Aok]

Quote from Schaefer:

I'm sorry to hear. Do you think it would of helped, if you had used a third party API, instead of IB's Book Trader? For example, Button Trader, or Zeroline Trader?

Good luck,
Schaefer

It's strictly anecdotal on my part but IB seems to function better when using Buttontrader. Couldn't imagine trading HSI without it.

To the OP, IB is one thing, China is another. Combine them both and you're not playing with fire but nuclear winter.

No amount of profit is worth the gut wrenching of the overnight hsi gaps. I am out 15 min prior to lunch/close sessions just for the very reason you experienced. Leaves enough time to
phone.

The unfortunate reality is we have to do their job too.

 

[gangof4]

Quote from Aok:

It's strictly anecdotal on my part but IB seems to function better when using Buttontrader. Couldn't imagine trading HSI without it.

To the OP, IB is one thing, China is another. Combine them both and you're not playing with fire but nuclear winter.

No amount of profit is worth the gut wrenching of the overnight hsi gaps. I am out 15 min prior to lunch/close sessions just for the very reason you experienced. Leaves enough time to
phone.

The unfortunate reality is we have to do their job too.

i usually stop trading the same time you do for the same reason. just amazing that i decided to trade late on the day i sized up and then IB data ends up wrong on my last trade- truly an unbelievable confluence of events. add in that it made me long instead of short and now the US markets about to go into free fall. this is torture.

shorted the YM but it's hardly dropped vs the ES and others- that and i don't have the guts to use the size i need to attempt to hedge the 3 HSI.

this is getting ugly...

 

[FanOfFridays]

Quote from gangof4:

and then IB data ends up wrong on my last trade- truly an unbelievable confluence of events.

It is beyond bizarre how circumstance can conspire in the exact way necessary to extract the maximum amount of pain. You seem to have a handle on the fact that this isn't IB's fault. If you had picked today to ramp up size and then gone down big, you were not in a good frame of mind.

I know it seemed at first that your losses are due to IB's fucked up data, but as others here have pointed out, that's not the case. Trading the markets you do, you simpy cannot leave the executions until the last seconds. I know for a fact that it's too early for you to be able to really internalize this and accept it, but I hope you can do so soon.

I really hope you can extricate yourself from this with the least possible pain. Please remember that the right thing to do is often the hardest thing to do.

 

[Aok]

Def,

You're the IB asian guru:

Any word on when/if HSI is going to have overnight session?

With 1.5 billion Chinese, one or two of them must be night owl traders.

TIA

 

[MandelbrotSet]

#1 - Trading is tough as hell.

#2 - I, and I'm sure everyone here, hope it opens 1000 pts in your favor, not against you. At which point you do what any good trader would do in the same position, which is to immdiately close the postion, get your bearings, and get back to work (NOT hold it looking for more gains).

#3. - Set your timer, use paintbars, have a wakeup service call you. I don't know what, but whatever it takes do not trade any futs market into closing minutes. Always stop at least 15-to-30 minutes before the close. I am (at least) the third person to say this ... maybe now it will start sinking in.

GL