All this arguing about market orders isn't relevant to after-hours trading. Market orders and stop orders aren't active in the AH sessions; only limit orders are. So the OP did in fact place a limit order to buy, not a stop or market order. Although anything is possible, it seems odd that if IB was corrupt, they would target just the OP on this one little trade instead of doing this sort of thing more frequently. I've never seen a complaint like this before in my 3+ years of surfing ET. My guess is that the OP typed 86 instead of 76 and of course someone's limit orders to sell at those higher prices got filled and they were probably quite happy about it (just as the OP would've been quite happy had s/he gotten a favorable fill in the 76's because of another trader's order entry error). As perfect as I am ( ), I've been 100% certain of seeing something that was later proven wrong and I simply couldn't believe I could've seen it differently. It happens no matter how precise you are in every aspect of your life. Our brains can deceive us. BTW, if you're short and you place a limit order to buy (cover) $10 below the closing price, that isn't evil. Companies often save their bad news for Fridays after the close or perhaps Monday morning price would gap down in pre-market, all legitimate situations in which the risk-taking short-sellers benefit at the expense of the risk-taking buyers. Trading and investing is risky. It is a bit ironic though that the OP opens with this: ...and is pissed because s/he mistyped.
I always wondered what those weird outlyers were. Now I know. Traders messing around. It looks like the OP had company. Trading software is like a loaded gun. Gotta know what the safety does. NFLX
lwlee-if you look at the trades themselves (dig a bit deeper than quick look at the chart)(-you will find out that those prints are away from market. ie-away from current bid\ask. could be prearranged trades or whatever. i did propose filter to get rid of those trades to IB long time ago..only if they listen..
If the stock is indeed NFLX,it closed at 86.29.in AH,OP covered 400 shares at at avg price of 86.52.the AH close is 86.49. So,the OP got picked off for 92 dollars and feels totally screwed? I would focus on the ten point hickie ($4000) as opposed to accidentally lifting an offer AH
Not true. A 76 stop LIMIT bid would still be sitting out there smoking the hopeium pipe. Imo OP mistakenly placed a 76 stop order which then converted to a market order since price was above 76.
Either way, this guy didn't lose $10 / share, he just didn't make $10 / share as he planned to. Not sure how he can calculate a 4K loss from this. Magellan
there are no market orders in after hours. you shouldn't post if u don't know the rules. "NoDoji Registered: May 2008 Posts: 7129 01-08-12 12:12 PM All this arguing about market orders isn't relevant to after-hours trading. Market orders and stop orders aren't active in the AH sessions; only limit orders are."
Yes but a limit order effectively converts to a market order in the AH if buy limit is above the market offer or sell limit is below the market bid. Otherwise there would be no trading in the AH. Correct me if I am wrong.... Magellan
Actually, I did not know that but thanks for enlightening us. But where exactly did I say anything about OP placing a market order?!? So what happens to a stop order after hours? Do they *require* a limit price with said stop? because if not what I wrote is precisely what would happen.