Is there anyone on Elite Trader who had a wrongful liquidation which was compensated for? Who did you contact?
IB Liquidated March Treasuries
- Thread starter rhymeswithorang
- Start date
They liquidated my march trade, I had gotten up at 3AM cst to see what bonds were doing. I bought June to cover. The kicker for me was when I talked to an account rep later in the morning and told them not to do anything, that I had covered the trade. He puts me on hold, checks with his boss. Gets back on to tell me they won't do anything with March, makes me repeat it for the tape. Everything is fine. Then 20 minutes later, there is a march trade in the account again. I just sold them right away, took a tick loser. Of course the market broke to new lows after they put them back into the account. I consider myself lucky to have only lost a tick. I actually sat and figured, "well, I can see how they can liquidate a trade, but I don't see how they can initiate and drop a trade into an account." THEY DIDN'T EVEN BOTHER TO E-MAIL OR CALL THAT THEY PUT MARCH BACK IN!
IB is great when it works but they are retards when it doesn't and don't know how to straighten things out. I'm just taking my loser as a cost of doing business rather then getting into a half an hour phone session with some arrogant phone clerk in Connecticut.
IB is great when it works but they are retards when it doesn't and don't know how to straighten things out. I'm just taking my loser as a cost of doing business rather then getting into a half an hour phone session with some arrogant phone clerk in Connecticut.
I guarantee that if I called, they would say they don't know what i am talking about. I sent four e-mails to four different IB addresses Monday and did not receive one reply.
IB should make up the loss. I should not have to be liable for any loss from the Marchs that IB reinstated without my permission.
You are goddamn right they should smilingsync, Good Luck
You are goddamn right they should smilingsync, Good Luck
I am short ZN. Were all you guys who were liquidated early long?
Also, anybody know what it means that IB liquidated your position and then cancelled it? Did they actually cover your position in the market and then cancel those trades? (Doesn't seem possible.) Or did the cover and then rebuy the positions at the market?
Also, anybody know what it means that IB liquidated your position and then cancelled it? Did they actually cover your position in the market and then cancel those trades? (Doesn't seem possible.) Or did the cover and then rebuy the positions at the market?
Did you try the contact Senior Management option on the site?
I used it once and got a phone call back the next day with an apology and explanation for the issue -- which was non-financial.
If you have your request on tape they should refund you the tick imo...
not nice...I on the contrary got so lucky I coudn't believe my eyes: bot (by mistake) a bunch of sgxnk contracts a hour ago with a stp price (was a stop attached to a previous sell order that instead of being cancelled got sent) I believe was well above the ask...got filled at mkt and got out with a GAIN!!
turned a nightmare into a sweet dream>>
turned a nightmare into a sweet dream>>
Quote from rhymeswithorang:
IB should make up the loss. I should not have to be liable for any loss from the Marchs that IB reinstated without my permission.
You are goddamn right they should smilingsync, Good Luck
They made good on it. I am satisfied as well as relieved.
On Sunday evening around 7 PM they liquidated March ZN futures, and then Monday morning, when I checked, the futures magically reappeared. In the meantime, I bot June futures.
I don't know if they actually rebought the futures. All I know is that they were gone one day, and were back the next.
Weird.
But they made good on the transaction. As far as I am concerned, it's over.