how I walk into a trap and lost $1k

Discussion in 'Trading' started by trader198, Sep 12, 2012.

  1. it is a pre-market, I have 1000shares of stock. I did not check the bid/ask carefully, hid the bid (actually 1point lower than my entry), thought it is a close price, but a huge mistake, I feel kind of odd, when I write the order and it was sold. later realized I sold with the bid! and I give the market 1k bucks!

    watch out, here is the one, did you see 0.0520 similar to 0.52, if you did not pay attention!

    so I have a habit, I write out some limit order in the pre-market to play this trick, hope one day some one walk into my trap!
  2. Daal


    Did you get filled at 5 cents?If you did, call your broker and bust the trade, say that you got filled at way outside the correct price
  3. My rules for pre and post market trading are 1) avoid it, but if I do it, 2) triple check everything before transmitting.
  4. Kind of a Market Darwinism at work. Some trader species just weren't meant to survive in the markets.
  5. Bob111


    first of all-yes-you can call the broker immediately and request for bust(might cost you more to file than you actually lost)

    second-there is a huge number of precautionary settings in TWS. learn them,use them. and as been mentioned above-triple check before you place any orders in pre-post market.

    those boys on other side of the screen have plenty of tricks to fool you with quotes. so your broker(see my problems with IB's data in TWS bug thread)