this might turn out to be a bad suggestion. but close it and cut your losses. you'll make it back over time. the worst thing to think as a trader is that its gone down so much it just has to reverse soon. if you intent on trying to minimize manually just look at the graph and make sure you are going with the trend.
I can't believe I took a -$744 loss because of this bs.... should have only been -$200..... Considering I don't have a big cushion in equity as it is, this loss hurts a lot
could always ask IB to bust the trade or write off the loss for you. doubt they will do it but might be worth a shot. it was their fault after all. they are ridiculously profitable right now, and I've noticed a trend that they are trying to combat their bad customer service rep.
Just don't go there. Frost is trading an automated system that he keeps second guessing and jumping in-and-out of the market with. At best this is a glitch that needs to be corrected. At worst it's a bug in the system and he needs a higher quality data vendor. But renumeration? Yeah, it's always the brokers fault when a trade goes bust! Always ... JJ
Agreed.... IB did not prevent the trade from being closed out for a $200 loss rather than a $700 loss.
? none of the bad trades so far were IB's fault. IB is having a system wide issues today. personally I think the risk of asking them is worth the possible reward. if i was in frost's position i would give them a call even at the risk of being called an idiot. i learnt a long time ago you might be surprised at what you can get if you just ask for it. who knows. they might split the loss or cover it. if they expect the frost to produce more in revenue for them factoring in the probability of him not having loyalty to IB and moving to a new broker in the future. customer relations is a black art if you are good at it. happy customers have their own value. they might know that. help a client out of a tight spot, have them for life.
Its the broker's fault that my quotes froze up locking me into the trade.... however it is my fault for not taking the small loss... and in the end I have to take responsibility for this and learn to not make the same mistake in the future. I think my bot would have had another pretty good day had it not been for this screwup.... This loss had nothing to do with the bot, and I still have a lot of enthusiasim from the past few days concerning the bot's future prospects... The actual money lost isn't what got me down at the moment.. its the thought that 1 or 2k more from here and I'll be FORCED to pull the plug, which is something I do not want to do....
WRONG! It is not the brokers fault. You will never become a good trader if you do not accept 100% responsibility for your P&L. Your system is so far from ready for primetime. I have never read a journal with so many excuses for failings. Frosty, you are torturing me!
That's a bad situation and everyone who trades eventually gets into a FUBAR trade like this, but now that it's happened, you have to be able to plan for it and factor a situation like this into your trading plan ... it's true. In regards to the equity, you have to trade risk, which means trading the less risky indice when given an option. ER has twice the risk of ES, you should've switched to it a long time ago when I was talking writing about it. This way your ultimate RISK OF RUIN (which is when you have to pull the plug), would still be a long ways off ... But hey, I'm not sharing in the glory, and I'm not sharing in the pain, so I can only make suggestions. JJ
frost, I've been hitting the same problems as you the past couple days. I also had frozen quotes after TWS re-connected. The trick I used, which I mentioned in another thread, was to manually reset the cable modem to force a second disconnect/re-connect. The second time the quotes came back with no loss of data. Of course I was lucky to be home at the time. Not sure what you can do outside of shutting down and restarting TWS when you're remote. Are you on build 865? You might want to go back to 864 until IB fixes this problem. As for your bot, I can understand the frustration. The frozen quotes cost me a few bucks today and yesterday with my ATS, but it's all part of automated trading. I just put an asterisk in my journal indicating the unusual situation and move on.