Why do most of busted fills rip you off?

Discussion in 'Trading' started by NoMoreOptions, May 1, 2003.

  1. Rather than favoring you, why do most of busted orders rip you off instead? Why isn't the chance even close to 50%? Why are there always so good chance for you fills got busted? It is the "they" who did this to us. They are the exchanges, market makers, and brokers who will show you infavorite busted fills in a delayed manner and hide you favorite fills and take the side for the profit. This is especially true and typical in the world of options. You lose-lose and are ripped off in either way. Do no, I repeat, do not touch options.
  2. maxpi


    It's like everyting else, "mistakes" hardly are ever in your favor.

  3. TGregg


    Well, if a mistake was made in your favor, would you complain about it? Of course not, so they don't.
  4. What the f*ck mistake are you talking about? Mine or THEIRS? Are you doing this on purpose for some one's interest or just as blind, ignorant non-trader experience? I personally encounter tens of busted orders in the first three months this year all coming from the option exhange. I hardly remember any one of them were in my favor. I already used the concept of probability half-half. Where is the mistake?
  5. EricP


    Then why don't you give us an example of one of your busted trades so that we can sympathize, instead of mouthing off like a jerk???

    The busted trades that I am familiar with are in the ES's and NQ's this year. For example, with the ES trading at 900.0, a trader makes a mistake and essentially places a market order to buy 10,000 contracts... Spiking the price up to 975.0 and filling every limit order on the book up to this level.

    In a case like this, it is obvious why the busted trade goes against the public most of the time. One person screwed up, and caused essentially erroneous trades to 1,000 other trades with open limit orders in the security. => The busted trades will adversely affect 99.9% of the traders, who were all excited to have sold their futures at 30+ points above the market level.

    I hope this is clear. For your example, maybe you're getting screwed by the option specialist... I don't know. Please give us an example and try to clean up your language.

  6. not always. sometimes they go in your favor. a few weeks ago i mistyped a number and paid $1 too much for a stock after hours. i called ib and told them what happened and asked if there was anything they could do. they got the trade busted. thanks ib you saved me $1000 bucks.
    i have had many trades in my favor busted too. so it goes both ways.
  7. range



    i had the same experience with ib. when i needed customer service, they came through.
  8. Bought a $25 stock for a penny a share.

    Trade Stood. Uncontested.

    There is a G*d
  9. how did you manage that? did you actualy bid a penny or just luck?
  10. Actually you have only a 25 per cent chance of being on the right side. 50/50 you are in the right position, short vs long, and only 50/50 it will go in your favor regardless of being "right".

    #10     May 1, 2003