Stuck Limit Up?

trader99 said:
Then I have a case against IB? hehe. I kept hitting the ask. I was willing to pay the spread but they still didn't let me out...

Even if I bought at the limit up price my losses would still have been minimal(a few hundred bucks). Yet they didn't let me out. Now I face an unknown amount of risk.

fckers.
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OK, if you were hitting the "ask" then they properly rejected your order as the "ask" would be above the daily limit. Bids were @ 66.525 (daily limit) so ask was higher. You can't trade above/below a daily limit so they rejected your order.

If you had placed a buy limit @ 66.525 your order would have been filled, eventually.
 
Bum said:
OK, if you were hitting the "ask" then they properly rejected your order as the "ask" would be above the daily limit. Bids were @ 66.525 (daily limit) so ask was higher. You can't trade above/below a daily limit so they rejected your order.

If you had placed a buy limit @ 66.525 your order would have been filled, eventually.
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I did that as well. I placed at the bid and was promptely rejected too.
 
Bum said:
OK, if you were hitting the "ask" then they properly rejected your order as the "ask" would be above the daily limit. Bids were @ 66.525 (daily limit) so ask was higher. You can't trade above/below a daily limit so they rejected your order.

If you had placed a buy limit @ 66.525 your order would have been filled, eventually.
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OP could be right about limit orders getting rejected.

From what I remember a couple years ago when I got stuck in lumber limit up, all my market AND limit orders at the bid got rejected (I admit my memory could be off about the limit orders but I believe that's what happened).
 
2rosy said:
options still trade.
you can go long a synthetic
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No need too. I got out. small losses. I could actually have MADE money if I just held a little longer because it actually went lower than my short price! lol. But I didn't want another panic buy situation. Flat is a position.

Additionally, I would have saved money not buying the dec hedge.

But overall, I got out rather unscathed! whew!

What I learned is NOT to panic in the future. Figure out a plan and execute it.

Always have faith in my chart analysis. I got out too soon at the open when my chart said just wait... if my chart analysis had said cover NOW then it would have been the right choice.

Nevertheless, I lucked out.
 
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trader99 said:
What I learned is NOT to panic in the future. Figure out a plan and execute it.
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I would have thought that learning and studying a market before you participate would have been “the first” thing you learned...

If you had done that with hogs - you would have seen that there were three limit move days prior during the past three months.

It’s not an uncommon occurrence with commodities btw.
 
bone said:
I would have thought that learning and studying a market before you participate would have been “the first” thing you learned...

If you had done that with hogs - you would have seen that there were three limit move days prior during the past three months.

It’s not an uncommon occurrence with commodities btw.
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That too. I thought it was too obvious lesson already expounded here. I will study/research a commodity before trading it. I can't assume all futures will be like financial and index futures. Thanks for pointing that out.
 
What I noticed that there are several elements at work on ET. There are good ETers who encourage, inform, and give motivations to other traders. Thank you to @Overnight , @bone @Bum @JSOP @Gotcha @ironchef @murray t turtle and many others.

Then there are others who like and wish to see other fail and laugh at them.

Anyhow.

I basically almost made back all of my losses in HE. A few more good trade and I'll be back in the green. So instead of setting me back 5 days in my worst case scenario, I'll be back where I was at the beginning of September trading which was yesterday morning. Whew.
 
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trader99 said:
What I noticed that there are several elements at work on ET. There are good ETers who encourage, inform, and give motivations to other traders. Thank you to @Overnight , @bone @Bum @JSOP @Gotcha @ironchef @murray t turtle and many others.

Then there are others who like and wish to see other fail and laugh at them.

I basically almost made back all of my losses in HE. A few more good trade and I'll be back in the green. So instead of setting me back 5 days in my worst case scenario, I'll be back where I was at the beginning of September trading which was yesterday morning. Whew.
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%%
I like to keep notebook records also,T99.;oVer time i did much better with more/ much more average daily volume . Like about 1 million+ or 33 million @ average day Volume..................................................................
 
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