Devastating after hours trade...SCREWED!!

Discussion in 'Order Execution' started by gster210, Jan 7, 2012.

  1. 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!!!!!!

    I couldn't believe it....I called and assured them it was not right and all they could do was look at the audit trail and it said 86 of course not 76.

    So I just go totally screwed and covered my position at an even higher price than market, let alone 10 dollars higher.

    It cost me over 4 grand.....I am furious. I remember seeing the 7 and do not make mistakes like this...even previewed.

    Has anyone ever heard of anything like this happening? There was no way for me to get an image of the order price when I sent it.

    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.

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

    Thanks for any help......
  2. 4dog


    I'm confused. You wanted to buy it $10 lower but you got filled up in the 86's which I assume is near the closing price. Is that correct? What did it close at? Also how did you get the 86.65 fill if you only put in for 86 or 86.4 as they claim?

    Usually if you fill is pretty far from the closing price you can ask for a trade break. But I'm not sure what your fill was compared to where the stock closed.
  3. BCE


    Sorry for your loss. I certainly hope you're able to get that favorably resolved. A different situation, but I lost $10k one day trading EMC AH on an earnings warning trading halt. Feels horrible when something like that happens and you have no control over it.
  4. lwlee


    Yeah, doesn't make sense.

    Sounds like you did a market order instead of a limit order.

    Btw, you can check the audit trail log in IB. It should have a detailed outline of the events that occurred when you placed the order.
  5. BCE


    Reading your comments again it seems you were willing to be filled on someone else accidentally mistyping their order. Sounds like that would be okay with you. If that happened and they voided the trade would you be mad about that?
  6. gster210


    Yeah, ive checked all records available and it all says 86 not 76. It was a limit order. Like I said I triple checked this and even previewed it to make sure.

    Im just wondering with the corruption growing in the market if anyone else has had something like this happen where the price was altered during execution.

    If there was any doubt I would just let it go, but I am 100% on this and I feel robbed.
  7. gster210



    Not like that man. I see low trades all the time go down. If you make a mistake then you are responsible.

    My point is that I didn't make a mistake. That is what is scary.
  8. I have no comment on your specific situation ... save one: Most traders find they lose five or ten times the amount of any screw up in the ensuing weeks. I'm not suggesting if there are things you can -- although I doubt there are -- to reverse the trade you should ignore them. But I am suggesting that if it becomes futile put it behind you and until you do do not trade.
  9. did you make lots of money recently with ib ?
    #10     Jan 7, 2012