Hi guys, So I am getting back into trading after taking a few months off. Why did I take a few months off? Well let me tell you why (I wonder if this is typical of many). 1. I made a trade that made me, on paper at least, $3M+. I put in a limit order to sell and got filled. Couple hours later my broker "unwinds" the trade and claims it was a computer error. 2. PACD - I make a day trade, am up huge and the stock gets halted opens significantly lower. 3. DRYS - Get in on the amazing run from 5 or so to 100+ per share. Sell half in premarket and then the stock gets "T12 Halted" and opens significantly lower. In other words, I was letting my profits run as taught yet still get screwed. After these types of events its hard to have faith in trading anymore. Seems like whenever I hit the "home run" something like this happens. Any words of encouragement or lessons to be learned?
this was optionshouse, switched to TD. I took the profits from the trade and put into multiple stocks. Every damn trade was unwound.
Yep. Lessons to be learned? They are in this thread. https://www.elitetrader.com/et/threads/mcoa-and-other-marijuana-stocks.307017/ Remember?
Exchange rule, not the broker. Would not matter. I once bought stock down $6.00 on the open and flipped it. The sell was deemed good but my buy was cancelled because of a bad priced, down more than 5 points.
Alright, but just seems like everytime a stock flies, the kind that can create real wealth super fast, it gets halted. But on way down they let it go. Look at DRYS in November. I have never been up so much, and it just got taken away. Very frustrating.
Sounds like me did not make it, because in one case he could not sell, Stop trading and the other PACD, not sure.
Ah let me clarify - I made the trade, my limit order filled. My conspiracy theory is some guy on the other side had heavy fingers and put in a market order and my limit order filled since it was a thinly traded stock. The amount showed up in my account and I used it to buy other stocks. At the end of the day, the broker called and said it was a computer error that filled the orders to high/wrong price. The rule is conveniently apparently unappealable....
I don't trade many stocks, but I do remember the "broken trades" type of crap (Aug 24, 2015) was a good example. Basically it makes it a risk to ever be in a trade in some security that could have a potential retroactive cancellation on one side of the trade. Like an "out trade".