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The Little Guy Loses Again
- Thread starter nasdaq1987
- Start date
On the rare occasion when IB has busted a trade, I've been automatically credited for the commission. If you didn't get it refunded, ask and eventually you'll get it.
Whenever there's a big move, try to confirm it in a parallel market. For example, if a currency future spikes, check the cash market. If not, be prepared for the possibility that the trade will be busted due to someone's automated program running amok.
Whenever there's a big move, try to confirm it in a parallel market. For example, if a currency future spikes, check the cash market. If not, be prepared for the possibility that the trade will be busted due to someone's automated program running amok.
Thats what I did. When I saw the futures were down substantially I checked the cash markets and saw they were essentially unchanged. So I shorted the USD/CHF and went long the dollar index to lock in the profit.
At the time, I was unaware of trade busts. I assumed that if someone makes a mistake, they have to pay for it and move on. I didn't expect it to be reversed.
How does one go about reporting their trade as erroneous? Can retail investors do that?
At the time, I was unaware of trade busts. I assumed that if someone makes a mistake, they have to pay for it and move on. I didn't expect it to be reversed.
How does one go about reporting their trade as erroneous? Can retail investors do that?
Depending on what market center your order went through, you have a certain amount of time to file on the trade. For example, inet is 30 minutes.
If you trade retail you would call your broker, if you trade prop someone should be able to take care of it for you.
The exchange can really break whatever they want if the other party has enough pull. Ive had trades get busted that were not far out of the money filled by the specialist 4+ hours later.
If you trade retail you would call your broker, if you trade prop someone should be able to take care of it for you.
The exchange can really break whatever they want if the other party has enough pull. Ive had trades get busted that were not far out of the money filled by the specialist 4+ hours later.
What do you call a guy who speaks three languages? Trilingual. What do you call a guy who speaks two languages? Bilingual. What do you call a guy who speaks one language? American.
Sorry, couldn't help it. I hope I speled all those words write. Carp, spelled speled wrong and I meant crap. Right, write? Ummm....
Edit: Almost forgot the most important part. To busy assing around. A similar thing happened to me a few years ago and I went through all the motions of trying to recover my loss. All parties kindly directed me toward the contract I signed when I opened the account -- you know, the one that's about as thick at a bible. It basically obsolves the broker and exchanges from any error that occurs from the result of.....well....any FREAKING thing.
Sorry, couldn't help it. I hope I speled all those words write. Carp, spelled speled wrong and I meant crap. Right, write? Ummm....
Edit: Almost forgot the most important part. To busy assing around. A similar thing happened to me a few years ago and I went through all the motions of trying to recover my loss. All parties kindly directed me toward the contract I signed when I opened the account -- you know, the one that's about as thick at a bible. It basically obsolves the broker and exchanges from any error that occurs from the result of.....well....any FREAKING thing.
Quote from cvds16:
well I know how it's supposed to be spelled and english is my third language ...
Quote from nasdaq1987:
Thats what I did. When I saw the futures were down substantially I checked the cash markets and saw they were essentially unchanged. So I shorted the USD/CHF and went long the dollar index to lock in the profit.
At the time, I was unaware of trade busts. I assumed that if someone makes a mistake, they have to pay for it and move on. I didn't expect it to be reversed.
How does one go about reporting their trade as erroneous? Can retail investors do that?
Pay a couple hundred to talk to an attorney. That's probably the only route you can take, and don't forget those confirms.
Quote from the1:
What do you call a guy who speaks three languages? Trilingual. What do you call a guy who speaks two languages? Bilingual. What do you call a guy who speaks one language? American.
Sorry, couldn't help it. I hope I speled all those words write. Carp, spelled speled wrong and I meant crap. Right, write? Ummm....
The world is run by the most complex form of communication known to man, and that's the english speaking world.
i think everyone is trying to change the topic because we all know its futile to protest...
But hey, let me add my sad 2c. I've noticed alot of english native speakers are confusing there, they're, their, and so on. Actually, its the native speakers who misspell consistently. On the other hand, we, the bilingual, trilingual and so on have no other choice but be exact if we want the natives to comprehend and take us seriously.
But hey, let me add my sad 2c. I've noticed alot of english native speakers are confusing there, they're, their, and so on. Actually, its the native speakers who misspell consistently. On the other hand, we, the bilingual, trilingual and so on have no other choice but be exact if we want the natives to comprehend and take us seriously.