Need Help, all positions closed involuntarily

M

Mark2m

This is the first time I have ever experienced a situation where in a small account, all of the positions where closed liquidated as of 10:23 AM yesterday 5/5/2014. I am awaiting word from the brokerage as what remedy since one stock is up 13% today, and two additional stocks have div interest coming up.
I did not notice the change since I have a small account that is shown, both are linked although you can only see one account on the screen. I don't usually go back and forth to view the accounts. I just noticed it this AM. since I did want to get into a position on the liquidated account.
So now I am waiting for the brokerage to decide what happened and whose fault it is? Has anyone else been in this situation? as previously stated, it looks like all the liquidation took place yesterday.
 
Mark2m said:
----all of the positions where closed liquidated as of 10:23 AM yesterday 5/5/2014.
----waiting for the brokerage to decide what happened and whose fault it is?
----anyone else been in this situation?
More...
1) You "bumped up" against the PDT guidelines? :confused:
2) A Cinco de Mayo "prank" gone bad? :confused:
3) Your account was hacked and the dollar proceeds are floating around Russia right now? :confused:
4) The firm doesn't want your account anymore? :confused:
 
I am awaiting word from the brokerage, normally you sign your life away when you do agree to their T & C's , do I take their word for it not being a computer glitch? there is very little to say, I don't believe the system was hacked.
Normally you have a Position with acct number, you can change to another acct number by right clicking/going to select acct/picking the acct number and it will come up. (both accounts are linked) Of note below the acct number is "Close all positions". I have never initiated "close all positions", I don't know if there is even a warning sign that says"are you sure you want to close all positions" since everything is bundled into one, futures/equities or options. I can understand a panic switch, but in this case, I never did look into the account that disappeared.
I have 6 accounts with another brokerage, and normally with them you have to go to TRADE>Close Selected Positions which I have never used since I am at stops or trailing.
 
1) Does your trading platform provide a ".log" file for activity?
2) Does your platform provide a way to see all orders placed whether they were canceled/filled, etc?

You didn't mention your brokerage...if it's someone like IB, you might be able to do some digging...if it's Fidelity or somebody like that, you are probably out of luck.
 
The log determined it was placed at 10:23 some positions 200shs had two independent transactions for each symbols at .02 cents difference in price. What I am waiting for is some sort of explanation.
I mentioned IB, since I have accounts with them and as indicated you have multiple steps to close your positions and you have to be selective. I don't know about MB, I only have two accts with them, and unsure how this could have happened? if I did somehow change accts I would have to pick the acct number, than initiate a close position on the same menu. Honestly, I have no idea whether once you say close all positions than what happens next? does it initiate or sort thru all that I wish to get rid of. What is upsetting is 1) had SFY for 13% gain today, 2)SDR and SDRL for dividend purposes, 3)TPRE and the rest was junk ANV.
 
Yes I have had many odd things happen in thousands of trades. In general, when you make a mistake, your money is gone, when the brokerage or exchange does, your money is gone. (Trades are canceled.)

All brokerages have activity records for you to look at. Did all trades have essentially the same timestamp or are they seconds apart? Does someone else have the trading authority on the account? Only you can figure out what must have happened.

Do you have a cat? (the reason I ask is that one trader I knew would let her cat walk on her keyboard while trading. She only got mad when the cat lost her money!)

Call your brokerage and go through the "time and sales" listing. They have them.
 
Unfortunately, I agree with you, everything was within seconds. I think that somehow it activated cancel all positions, but it seems so out of place to have one command to wipe everything out? Now at times I do tend to wake up the system by clicking the mouse although what are the chances that 1) it is on one screen out of 3, 2) it is exactly on the position area, and 3) that once the menu comes up the close all positions is initiated.
And to date, I am awaiting a response from the brokerage, and especially how someone can inadvertently sell all positions?
Thank you
 
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