Last night 'bad ticks' happened and arbitrarily closed some of my spread positions. Originally, I opened Oct22-Nov22, July22-Aug22 and June23-July23 but now only July22 and Nov22 contracts are left. I closed them now because they are not the pairs I wanted to trade. My broker said: Looks like a bad tick caused Risk to close your positions i expect bad ticks to happen again....they are not common....but they do happen. Although they compensated some cost, I still lost a decent amount of money due to this event. What is the 'bad tick'? I use Rithmic. Who has the responsibility on this? Broker or Rithmic? I've traded calendar spread for more than a year now and this is the first time it happened. As I mostly trade spread, this is quite scary and frustrating experience..... If I change to some professional grade brokers, can I prevent this event? Any feedback or advice?
There are people on ET who think their broker is front running their trades, because they think they have discovered the holy grail for successful trading. They also don't name the broker. It is complete nonsense. The answer is probably Ameritrade.
But that does not start with A, because it is TD Ameritrade. Which by the way is becoming TD AmeriSchwab. Hehe
I guess it makes sense, because most people who do their home improvement shopping at The Home Depot say "I buy my shit at Home Depot", but it's actually called "The Home Depot". It's even on the sign. Alas.
Ok, ok, it's AMP Futures. I really love this broker and haven't had big issues so far (except an old event in which my CQG /E6 position wasn't properly closed until next day. It was more than two years ago. Also not sure whom to blame. CQG? AMP?) but I am a bit disappointed now. Complex spread trading doesn't look very safe with this broker if such 'bad tick' would happen again. I wonder if this can happen with other professional brokers like Advantage Futures. As Bone said before, discount brokers don't fit serious spread traders. I had to listen to him.