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Stupid newbie question: sold what I didn't buy
- Thread starter Cruzan
- Start date
The IB system is *very easy* to make mistakes on. Lets say you didnt get enough sleep last night or have other things on your mind, you can very easily hit a wrong key.
Before you hit the "T" key, you should read the order aloud to yourself. As silly as that sounds, it will keep you from making very expensive mistakes.
Then once the order is placed, view your account immediately to make sure that the order was what you wanted.
I believe there is a way to bust the trade in certain instances.
Before you hit the "T" key, you should read the order aloud to yourself. As silly as that sounds, it will keep you from making very expensive mistakes.
Then once the order is placed, view your account immediately to make sure that the order was what you wanted.
I believe there is a way to bust the trade in certain instances.
Actually this is my fourth trade:Quote from Colombo:..... not bad for your first trade....[/B]
1. Bought 500 shares of Oracle at 17.39, sold 500 next day at 17.70
2. Bought 400 of Micron at 13.70, sold next day at 13.84
3. Bought 100 of Corning at 17.75, sold next day at 17.85
4. Sold 400 of Motorola at 20.60, bought same day at 20.55
Their interface takes a little getting used to. It assume you're hitting the bid to sell or lifting the offer to buy if you just click on a price and hit T.
If you want to join the bid/offer on a limit order you have to click the opposite bid/offer and change the limit price. Or click the price you want and change buy to sell or vice versa.
Traveler
If you want to join the bid/offer on a limit order you have to click the opposite bid/offer and change the limit price. Or click the price you want and change buy to sell or vice versa.
Traveler
Quote from Cruzan:
Actually this is my fourth trade:
1. Bought 500 shares of Oracle at 17.39, sold 500 next day at 17.70
2. Bought 400 of Micron at 13.70, sold next day at 13.84
3. Bought 100 of Corning at 17.75, sold next day at 17.85
4. Sold 400 of Motorola at 20.60, bought same day at 20.55
Hats off to the newbie..... more power to ya friend. Keep it up!
Quote from jessie:
Short Selling...
"He who sells what isn't his'n must buy it back or go to prison."
I think thats from the 30's, but I don't remember the attribution. Any help on that?
Jessie
Actually, Daniel Drew used this line against Cornelius Vanderbilt in their famous battle for the control of Erie and Harlem Railroads (circa 1865).
http://www.brainyquotes.com/quotes/quotes/d/danieldrew190851.html
http://www.brainyencyclopedia.com/encyclopedia/d/da/daniel_drew.html
ok wow i was reading through this and I just could not figure out where i was misreading i actually had to pull up my transact Price ladder to see what he meant, I think i realize what he "thought" he was doing.
He clicked in the ask sell when in reality all he had to do was buy market, this sent a limit order in to the market @ 20.60. I was so confused till i realized that you dont click the price for market orders, you may on some platforms but ive never seen it. Wow i felt so confused until i looked at the price ladder.
He clicked in the ask sell when in reality all he had to do was buy market, this sent a limit order in to the market @ 20.60. I was so confused till i realized that you dont click the price for market orders, you may on some platforms but ive never seen it. Wow i felt so confused until i looked at the price ladder.
Quote from Cruzan:
Actually this is my fourth trade:
1. Bought 500 shares of Oracle at 17.39, sold 500 next day at 17.70
2. Bought 400 of Micron at 13.70, sold next day at 13.84
3. Bought 100 of Corning at 17.75, sold next day at 17.85
4. Sold 400 of Motorola at 20.60, bought same day at 20.55
Prices can gap at the opening. One big loss can offset all the small profits.