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

thanks for the replies- fucking nightmare.

the reason i hesitated to hedge is that when this happened once in the past (not 3 contracts and my fault), i tried to hedge and the hedge actually made things worse. i could have hedged with the STW, for instance, and it hardly fell today. you also run into margin issues due to the high $ margin requirement for HSI overnight coupled with the overnight on the hedge. add in that i was kinda shell shocked last night (had my worst trading day ever then this happened at the close- wasn't thinking as clearly as i'd have likes. shoulda just went short a shit load of ES and hoped they correlated (of course they did, in spades... because i didn't do it!).

my loss at the open was like $14m- the HSI usually continues a directional move like this after the open so i got out. of course.... today, it reversed- fuck me.

worst part is that when STW opened and didn't drop i decided to short it to hedge- $2,800 later i got stopped out for the 2nd time and just about blew a fuse.

so, was down almost $17m after closing the 3 HSI, then lost another $2m trading the HSI to go down over 19m. threw my phone, broke a mirror (oops) and then walked away for a few minutes.

head's on a little straighter now but i am still pretty fucking pissed that faulty data put me in this shit storm. i've staged a pretty fucking good rally, now down $9,933.08. hoping it continues in teh afternoon session- i'm getting pretty gun shy though- don't want to see down $19m again- so we'll see.

christ, this is like a blog post. i'll post the post mordem on my anal raping once i finish. if i move on to trading the DAX, that means i'm in trouble!
 
Quote from stock777:

Of course, I was referring to what it might trade like in an OFF HOURS session.
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actually didn't pick up on that. my bad.

yeah, you've got a point but having the option to execute in a overnight session is something HK should have to keep up with every other major exchange. hell, even the fucking aussie has that covered. most of these are thin- i don't see it being an issue. not like i use market orders on the HSI anyway...
 
Quote from gangof4:



christ, this is like a blog post. i'll post the post mordem on my anal raping once i finish. if i move on to trading the DAX, that means i'm in trouble!
More...

Give yourself a break, walk away, you need time to come to terms with the loss.

You are way to emotional to be trading.
 
Quote from gangof4:

thanks for the replies- fucking nightmare.

the reason i hesitated to hedge is that when this happened once in the past (not 3 contracts and my fault), i tried to hedge and the hedge actually made things worse. i could have hedged with the STW, for instance, and it hardly fell today. you also run into margin issues due to the high $ margin requirement for HSI overnight coupled with the overnight on the hedge. add in that i was kinda shell shocked last night (had my worst trading day ever then this happened at the close- wasn't thinking as clearly as i'd have likes. shoulda just went short a shit load of ES and hoped they correlated (of course they did, in spades... because i didn't do it!).

my loss at the open was like $14m- the HSI usually continues a directional move like this after the open so i got out. of course.... today, it reversed- fuck me.

worst part is that when STW opened and didn't drop i decided to short it to hedge- $2,800 later i got stopped out for the 2nd time and just about blew a fuse.

so, was down almost $17m after closing the 3 HSI, then lost another $2m trading the HSI to go down over 19m. threw my phone, broke a mirror (oops) and then walked away for a few minutes.

head's on a little straighter now but i am still pretty fucking pissed that faulty data put me in this shit storm. i've staged a pretty fucking good rally, now down $9,933.08. hoping it continues in teh afternoon session- i'm getting pretty gun shy though- don't want to see down $19m again- so we'll see.

christ, this is like a blog post. i'll post the post mordem on my anal raping once i finish. if i move on to trading the DAX, that means i'm in trouble!
More...
I get the impression from your post that you have:

a) experience: - and plenty of if
b) money: - yep to burn and unfortunately, you did
c) self-control - nope, none to speak of.

Which is too bad, as this is mainly a game of psychology and self-control, making consistent winning when stepping up to bat and sitting back and taking deep breaths when a cool head starts to heat up.

If you don't get your psych issues under control, it's going to take a few more incidences like this for you to discover that, whatever happens on the technical side of things, you're the one who is always responsible for your trading ... and certainly the one, who in this case, has made a mountain out of a molehill.

Sincere good luck figuring it out, as we all face-off against the same demons, and they are always of our own making.
 
Quote from MandelbrotSet:

I get the impression from your post that you have:

a) experience: - and plenty of if
b) money: - yep to burn and unfortunately, you did
c) self-control - nope, none to speak of.

Which is too bad, as this is mainly a game of psychology and self-control, making consistent winning when stepping up to bat and sitting back and taking deep breaths when a cool head starts to heat up.

If you don't get your psych issues under control, it's going to take a few more incidences like this for you to discover that, whatever happens on the technical side of things, you're the one who is always responsible for your trading ... and certainly the one, who in this case, has made a mountain out of a molehill.

Sincere good luck figuring it out, as we all face-off against the same demons, and they are always of our own making.
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you're kind of an asshole- no offence, of course.

don't really need some a b c analysis from you.

mountain out of a molehile- ib's fucked up data cost me about $14,000. i closed my position well in advance of the close. incorrect data caused me to end up long 3 contracts instead of flat. how is an ib data error me 'burning thru money? btw, the money i have 'to burn' is from the market.

what a jackass.
 
LOL Go4,

My only objection to anything you said in your last post would be that its not proven that the data delay problem was IBs. It's very possible that the exchange had not confirmed the trades --- has that been checked?
 
Quote from gangof4:

you're kind of an asshole- no offence, of course.

don't really need some a b c analysis from you.

mountain out of a molehile- ib's fucked up data cost me about $14,000. i closed my position well in advance of the close. incorrect data caused me to end up long 3 contracts instead of flat. how is an ib data error me 'burning thru money? btw, the money i have 'to burn' is from the market.

what a jackass.
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Wow, you really hurt my feelings gangof4.

Just like you really hurt IB's feelings when you came on here saying how you were having the "worse day of the year" and trading into the last minutes of the close (never a good sign) with increased position size and there was a disconnect with IB's data feed and the real price of the security you were trading, and as a result you didn't know whether you should be short or long ... (I leave it to the readership to figure-out how smart you have to be to put yourself in this position).

When the market opened again you then proceeded to tell us how you were playing the "if I coulda I woulda I shoulda" game while still dealing with the psychological stress of your previously ill-concieved last minute trade (actually it was within the last twenty seconds ... yeah, plenty of time) while trying to rescue a situation which any professional would have just closed out of and taken stock of the damage ... instead you choose (yes, nobody made you continue to push the button, you choose to do so) to dig the hole deeper.

Hmmm, if it sounds like going on TILT, it smells like going on TILT and walks like going on TILT well then it is GOING ON TILT, just in case no one has ever seen it, this is what it looks like: "threw my phone, broke a mirror (oops) and then walked away for a few minutes" ...

... the thing is you're still trying to claim IB is at fault here, just like some other guy is trying to claim that IB is at fault when he was shorting an incredible uptrend in the grains, and another guy is trying to claim they are at fault for taking him out of a stock (short) that went against him for thousands of dollars (margin call, close the position) only to of course, have the stock turn around and drop in favor of his trade, etc., etc., etc. (man, I wonder if they ever get tired of it).

Hey speaking of which, if the HSI had gapped up 1000 pts (like I was hoping it would for you btw) and you had made a mint out of this thing, would you stil be "seeking recourse" against Interative Brokers?

Nah buddy, you've got it wrong on all accounts:
a) I'm not the asshole here ...
b) Interactive Brokers didn't screw you with your "last 20 seconds of the session trade", and
c) You obviously weren't in your right mind when you compounded your orginal loss by another 35% (well, maybe to kiwi trader you were).

And as far as your "profitability" is concerned, it was luck that your mishap caught you at this end of your trading cycle, not skill. You could just as easily have shot yourself in the foot at the beginning of the year and be looking at an uphill climb from here.
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Speaking of luck, I hope you have it with your search for your magical broker which will absolve you of all responsibility with your trading actions from this point forward in your gambling career.

The way you go at it, I'm sure they'll be lining up at your door.
 
May the readers note that not once have I used any expletives or cuss words against the OP. There is no reason to do so, as I am only concerned with the trading here, and he is providing us with a $19,000 seminar in how not to trade.

I hope you folks are taking notes ...
 
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