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Old Jan 8th, 2012, 01:24 AM   #31
stock777
 
 
Join Date: Jul 2001
Posts: 16,316
like the time I bought a $20 stock for 1 penny?

Ps Entering orders is a serious business, and there's risk in placing even test or fishing orders. Best not to enter orders that are just for fun, unless you're VERY careful about it.

Costly.

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Old Jan 8th, 2012, 02:45 AM   #32
schemer
 
 
Join Date: Oct 2011
Location: Utah
Posts: 27
Quote:
Quote from gster210:

Hi all,

During AH Friday....I put in an order thru IB for ten dollars LESS than the current price of a stock I had shorted, that had risen...just to see if it would get hit...if someone really wanted it or mistyped.

So I type in 76.40 and checked it three times....even hit preview on IB...and see 76.40...I am POSITIVE.

So I execute and immediately my order gets hit at 86.40 and 86.65!!!!!!

...

Im really upset, as an engineer I have been trained to keep an eye on numbers. I would NOT have made this mistake and I know I DIDNT type in what they claim I did.

...
It doesn't matter if you are an engineer or rocket scientist or whatever, you are human. Humans make mistakes. Also, as an engineer, you should know that a 7 doesn't magically and randomly turn into a 8.

It sucks to have a loss like that, but don't blame it on IB changing your order.
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Old Jan 8th, 2012, 03:06 AM   #33
Fractals 'R Us
 
 
Join Date: Aug 2008
Posts: 2,357
I still don't get it. It seems like you submitted a limit sell order in a thin market and got matched and filled..
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Old Jan 8th, 2012, 06:26 AM   #34
failed_trad3r
 
 
Join Date: Oct 2009
Posts: 1,803
Quote:
Quote from NvrSettLe:

It was most likely your mistake and I can almost guarantee if you check the logs again you will see that you entered a buy STOP limit instead of a buy Limit. You chose the wrong order type. A buy stop limit would protect you if your short position exceeded a certain price and then would become a market order. In this case you entered a buy stop limit order at 76 but since the stock was already trading above that price it was automatically triggered and became a market order and filled at the price that was currently available. So you would have seen 76 on the screen when entering order but you didn't check the order type enough times to see the error.
yeah i think you paid to much attention to checking the AH box but forgot to check the order type.
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Old Jan 8th, 2012, 07:48 AM   #35
asap
 
 
Join Date: Nov 2006
Posts: 676
Quote:
Quote from gster210:

Hi all,

During AH Friday....I put in an order thru IB for ten dollars LESS than the current price of a stock I had shorted, that had risen...just to see if it would get hit...if someone really wanted it or mistyped.

I feel I was robbed...don't know what to do about it.


so you wanted to rob someone than got robbed in the process and now whine about it?
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Old Jan 8th, 2012, 08:11 AM   #36
FrankSlaughtery
 
 
Join Date: Aug 2010
Posts: 849
i know how to fund an insurance fund for futures like sipc - whenever a trader makes a mistake, falsely accuses his broker of corruption on a public forum and then claims that his career profession prevents him from ever making mistakes then that trader's account should be "donated" to the insurance fund.

i'm sure every one of us here have made a mistake trading. for the op you know what we did? we went back and found the mistake, wrote down the lesson so it doesn't happen again and took the loss like a man (or a woman) - not like a 6 year old whose mom won't buy him what he wants at toys r us.
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