I hear ya! My particular case may have been a glitch in IB at the time - don't know. Those prices might not be bone fide - all I know is don't ever test it with your money lol And don't ever hit the wrong button. lol That would totally suck! That would be worse than the guy in that youtube vid losing his ass trading the Eminis
always set your default to the bid. also,if you are able to "click" on a market maker and price,it can be deadly. example. stock closed at 31.50. someone may post an after hours offer at 37.50. if you don't pay attention,that 37.50 can look just like the 31.50 close and you could buy after hours gor 6 bucks higher thinking you bought where it closed at. traders pull these tricks all the time. you could also set confirmation pop ups on most platforms as well.
Who would you file the trade bust report with? SEC I guess? I would hope something like this could be reversed. Does anyone know what the warning "Price too deep" with a value of 1.00 means on lightspeed? What time do the after-market hours end? This was around 5:55 est, and when I tried to trade yahoo it says session had ended. Do you think this is the reason for no other trades on the board? Sorry for all the question. I am just a new trader trying to get my mind at ease. Thanks everyone and God bless.
Ya I got rammed like this once. Actually at the time I was trading on Lightspeed funny enough. It was the close I had 100 shares left to dump and wasn't paying attention and because the price 'looked' right I hit it. All of the sudden,I lost like 300$ closing out the position. I knew it as soon as I hit it and was like shiiiiiitttttttttttttttt, Son of a bitch!!!!!!!. I said right after that, fool me once shame on you................. you know the rest. Needless to say I never did that again. Asw for the "price too deep" , if I remeber correctly from my Lighspeed days, that is the setting to prevent something like that from happening. You can set a max price away from the last print or inside so that you don't end up making an erroneous trade a couple of $ out.
see if your trading platform allows you to "pre-set" a price % filter to prevent you from buying or selling at nutty prices waaaaaaaaaay awaaaaaaaay from the market
I use hotkeys, so the point and click thing shouldn't effect me. I know the prevention measures with lightspeed. The PRICE TOO DEEP was on by default, still don't know exactly what it is. I am guessing it would have popped up had the trade tried to go through. I also put on SPREAD TOO LARGE. If aftermarket closes at 8, does anyone have any idea as to why I got the message "U R OUT OF YHOO, TRADING SESSION CLOSED" at 5:55pm est? And again, if someone could tell me a little more about a trade bust report, Id appreciate it. Thanks guys.
Your broker might not allow trading after 6:00 pm but most do allow trading to 8:00pm est which is the close of ah trading.