Friday, March 25, 2011

IB made me losing a lot!!!

First, I long at 105.44 near pit opening. My Stop Limit didn't work though price touched the area multiple times. So I took order manually (Limit Order). As usual, I placed my SL at -10 ticks. Price dropped to my Stop Losses. Since I re-installed the IB, I saw the new P/L layout and thought that my Realized P/L wasn't shown. Worse, the position column are not at the same spot. It's on the right. So when price dropped, I thought I was stopped out. I looked at Account Page, there's -$92. I thought that's my realized. I put the short order at 105.28. And the price also unfilled. I want to make Limit Order, price already fell and never came back. Until I realized, MY FIRST TRADE STILL THERE !!!! WTF !!! I Place STOP ORDER AND THE PRICE JUST BLASTED THORUGH IT !!!

I just saw the unrealized losses became bigger and bigger! The peak was -$870!!!
If I was filled on everything, I would stopped out -10 ticks, then the short @ 28 would give me at least 60 ticks. Total would be $500!!!

I planned to bet all my weekly profit today and ate the bullet. My maximum Stop Loss would be -$1800 or whatever the price at closing hour. I knew it wasn't right. But I didn't see a big volume out there and from my backtesting, no volume had high chance of reversal. And it did. So I just waited the price pierced through my price, and got out +21 ticks. This is God's Gift, so I thankful for His Mercy.

I will trade again if there's significant volume. If not, I'll close the week with $2150 before commission. Not a bad week at all :)

2 comments:

  1. A traders stop loss order should be a regular "stop loss" or "stop" order not a "stop limit" order otherwise you may not be able to exit, right?

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  2. Gunp,
    IB skipped my Stop Order. I didn't complain if it's stop limit. Everything's fine now. Thanks for comin.

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