IBj, maybe you can answer this since noone in ib seem to provide an answer. This is purely for info. the issue of liq engine unbalancing a hedged option position aside, why does it auto liquidate es mini options in afterhours when there is extremely wide bid ask spread instead of waiting until market open the next day? Es mini is based off sp500 which is based off NYSE/nasadq that closes at 4pm. So what is the reason ib auto liq es mini options in after hours using market order causing significant loss for the clients due to the spread thanks
...well i see all the defender crew are back slappin and throwin our buddy from the north under the bus.... ....but i aint buyin it....plus there is so much smoke blowin in the post that ib's meaculpa is lost in the fine print... "IB will address the execution points privately with the client (off this thread) as part of a normal complaint resolution. " "Last Thursday exposed several places where IB can improve its risk management systems. Liquidation processes will also be improved. I expect the first of these changes to start rolling out within a month." "IB's risk management system is expressly designed to automatically liquidate deficient accounts."
"traderlux Registered: Aug 2009 Posts: 155 05-10-10 07:28 PM good insight, i wonder just how much of a profit center for ib the auto-bot is. owners probably lovingly pet its bot-butt every nite and day as it goes out harvesting 24/7 from the heavy foot crowd." http://www.elitetrader.com/vb/showthread.php?s=&postid=2835294#post2835294 _______________ your lack of credibility was established quite awhile ago.
on the contrary I think it has been a very informational thread. I'm glad IB came on to provide the info the OP neglected to mention which everyone was skeptical of anyway. I do think the spike really does point to the questionable practice of "auto liquidation". As the spokesman pointed out things went well until the downdraft. Still the OP should not have lost as much as he did.... plain and simple. There really needs to be curbs much like trading curbs to allow the ship to right itself. I actually didn't even look at my positions on Thurs because I knew my broker would not auto liquidate and I would have time to sort things out over the weekend. Had I been with IB I think I would have an ulcer.
he mentioned in this thread that he was in canada, i wasnt aware of the currency exchange watch but it makes sense
one more day and your broker may have been in liquidation.ever trade futures limit down everyday. maybe not exactly comparable but close enough. I would not want to deal with your broker.care to name him?
Atticus, The OP was lying to us all along. His first disclosure of his positions mentioned an unspecified amount of cash, but never mentioned any FX position. The OP later claimed the FX position was small, when in fact, as IBj has revealed, OP's FX position was many times the size of the account's value, and existed for the purpose of margining his huge options position. The OP also claimed the FX position was moving in his favor that day, when in fact, as IBj has revealed, the FX position was moving against him by a massive amount. OP also failed to inform us that that the value of his put spreads was many times the size of his account, and that he was heavily leveraged; and I say that his omission of that information was intentionally deceptive. His bogus excuse, for not giving additional details, was the need to protect the privacy and security of his account. The OP was clearly at fault for violating IB's margin rules, and for misusing this forum and all of us, in an effort to damage IB's reputation, so as to pressure IB into covering the OP's gambling debts.