Shortie Got His Crash!!

Yup, they are saying on CNBC that someone at a large firm punched in billions when they meant millions of shares or contracts on a sell. Maybe they are making that up?
 
Even if it was an error, I'm just glad that my trading system using TradeStation was able to keep up. This was a good trial by fire. This will be one difficult mess to clean up.
 
Quote from pspr:

Yup, they are saying on CNBC that someone at a large firm punched in billions when they meant millions of shares or contracts on a sell. Maybe they are making that up?
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Nowadays with computers, can't we just put a check in to reject any single order in billions or hundred of millions? I don't understand how this can happen....
 
Quote from poyayan:

Nowadays with computers, can't we just put a check in to reject any single order in billions or hundred of millions? I don't understand how this can happen....
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Whatever happened to "Are you sure?" :p
 
Quote from poyayan:

Someone said it is panic selling. Don't they think this spike down is too quick for anyone to be panicking? This spike down looks very fat finger like.
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Exactly, panic selling at least has dip buyers coming in now and then, not a straight run down.

I will add that my platform froze at ES 1099 and I was unable to buy any dip. I must now eat my chips dry...
 
Quote from NoDoji:

Exactly, panic selling at least has dip buyers coming in now and then, not a straight run down.

I will add that my platform froze at ES 1099 and I was unable to buy any dip. I must now eat my chips dry...
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That's what backup accounts, PCs, and phone brokers are for!

My internet actually cut out part way through, just switched over to my laptop with a mobile internet card. You need to have backups in place because today you could have been stuck in a big position then got back on when it's massively against you, all your resting orders were filled etc.

I have desktop, laptop, and Iphone setup to trade. And can always use phone or my 2nd cellphone if needed. Never rely on one system.
 
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