Took break from trading, but I know you cannot give up

[Make Dough Repeat]

Hi guys,

So I am getting back into trading after taking a few months off. Why did I take a few months off? Well let me tell you why (I wonder if this is typical of many).

1. I made a trade that made me, on paper at least, $3M+. I put in a limit order to sell and got filled. Couple hours later my broker "unwinds" the trade and claims it was a computer error.

2. PACD - I make a day trade, am up huge and the stock gets halted opens significantly lower.

3. DRYS - Get in on the amazing run from 5 or so to 100+ per share. Sell half in premarket and then the stock gets "T12 Halted" and opens significantly lower. In other words, I was letting my profits run as taught yet still get screwed.

After these types of events its hard to have faith in trading anymore. Seems like whenever I hit the "home run" something like this happens. Any words of encouragement or lessons to be learned?

 

[Nereto]

1. Couple hours later my broker "unwinds" the trade and claims it was a computer error.

What broker?

 

[Make Dough Repeat]

this was optionshouse, switched to TD. I took the profits from the trade and put into multiple stocks. Every damn trade was unwound.

 

[Overnight]

...
After these types of events its hard to have faith in trading anymore. Seems like whenever I hit the "home run" something like this happens. Any words of encouragement or lessons to be learned?

Yep. Lessons to be learned? They are in this thread. https://www.elitetrader.com/et/threads/mcoa-and-other-marijuana-stocks.307017/

Remember?

 

[Robert Morse]

What broker?

Exchange rule, not the broker. Would not matter. I once bought stock down $6.00 on the open and flipped it. The sell was deemed good but my buy was cancelled because of a bad priced, down more than 5 points.

 

[Make Dough Repeat]

Yep. Lessons to be learned? They are in this thread. https://www.elitetrader.com/et/threads/mcoa-and-other-marijuana-stocks.307017/

Remember?

Alright, but just seems like everytime a stock flies, the kind that can create real wealth super fast, it gets halted. But on way down they let it go. Look at DRYS in November. I have never been up so much, and it just got taken away. Very frustrating.

 

[vanzandt]

Exchange rule, not the broker. Would not matter.

Not followin' ya here Bob.
The guy made a 3M trade and what happened?

 

[Robert Morse]

Not followin' ya here Bob.
The guy made a 3M trade and what happened?

Sounds like me did not make it, because in one case he could not sell, Stop trading and the other PACD, not sure.

 

[Make Dough Repeat]

Ah let me clarify - I made the trade, my limit order filled. My conspiracy theory is some guy on the other side had heavy fingers and put in a market order and my limit order filled since it was a thinly traded stock. The amount showed up in my account and I used it to buy other stocks. At the end of the day, the broker called and said it was a computer error that filled the orders to high/wrong price. The rule is conveniently apparently unappealable....

 

[W.J. Feathermaker III]

Exchange rule, not the broker. Would not matter. I once bought stock down $6.00 on the open and flipped it. The sell was deemed good but my buy was cancelled because of a bad priced, down more than 5 points.

I don't trade many stocks, but I do remember the "broken trades" type of crap (Aug 24, 2015) was a good example. Basically it makes it a risk to ever be in a trade in some security that could have a potential retroactive cancellation on one side of the trade.

Like an "out trade".