Sharky, this is becoming a lottery.....

This is a discussion on Sharky, this is becoming a lottery..... within the T2W Feedback & Announcements forums, part of the Off the Grid category; I shorted about 28000 Royal & Sun @ 72p on Friday afternoon because I judged that the market would tank ...

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Old Mar 31, 2003, 2:34pm   #1
Joined Dec 2002
Sharky, this is becoming a lottery.....

I shorted about 28000 Royal & Sun @ 72p on Friday afternoon because I judged that the market would tank from the opening this morning.

All well and good; it's currently 68p and falling. Only trouble is that the trade was covered at 73p at 8.20 this morning (i.e. at the opening, lagged 20 mins). And yet I did not have a stop order in place. (I did have a limit on at 62p).

So instead of a useful profit, I am nursing a small loss. And I've missed out on a great bear session.

This has happened several times, and to others as well of course. I notice that you have advised S Harman not to use stops, but that doesn't seem to remove the problem because I wasn't using one.

I know you put a lot of time and effort into this site, Sharky, but can't yr s/ware provider do anythingto make stops & limits work as intended? Otherwise it makes the competition a bit of a lottery for those of us who can't spend eight hors in front of the screen day-trading.

End of rant! Sorry, but it's soooo frustrating.

Andy
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Old Mar 31, 2003, 4:56pm   #2
 
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I agree, very frustrating. I have lost most of my interest in the competition because of this.

I will say something about the stops and limits though. Beware of spikes or drops (what do the techies call this, whipsaws or something). These could trigger sells/shorts and by the time the 20 minutes lag comes around you are out and the price back to where you don't want it Got caught a few times this way so it doesn't have to be the stops that always cause the problem.

HTH
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Old Mar 31, 2003, 5:33pm   #3
 
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indeed, same thang happened to me sharky, see last thread, those who posted orders after fri close, should not be significantly down as we are today, FTSE was 85 down at 9am. Near enuff what it is now
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Old Mar 31, 2003, 11:38pm   #4
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Thanks for the feedback guys,

It's obvious the stops/limits aren't working, so I'm suspending them immediately- any existing ones have been removed, and there will no longer be a facility to create new ones. This is onyl a temporary measure until I'm content that the system works in practive.

Sorry, I know it must be frustrating and it's better to remove this feature for the time being, rather than continue to use it but to unfairly penalise players when careful use leads to the wrong price triggers firing.

Sharky.
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Old Apr 4, 2003, 9:47am   #5
 
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Very Strange

Hi

I am shown as having sold Signet (SIG) at 8.20 this morning for 0p (NIL) per share .

I was sleeping at the time so don't know what happened here. Can someone enlighten me and give me my £10,000 loss back please.

Thanks

John
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Old Apr 4, 2003, 5:23pm   #6
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Hi Agincourt,

No worries - blip on the data feed, I'll update over the weekend.

Cheers,
Paul.
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Old Apr 7, 2003, 11:09pm   #7
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Hi agincourt,

I've reinstated your Signet Group holding and the correct price/portfolio value should update when the market opens tomorrow. Sorry for not having a chance to update this over the weekend.

Cheers,
Paul.
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Old Apr 11, 2003, 9:02am   #8
 
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Hi Paul.
Puzzled at being stopped out of my (68p) short SOF at 78p for a £3k loss when my exit limit (I thought) was 65p. I had no upward stop in place.

Regards,
Purple.
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Last edited by PurplePerson; Apr 11, 2003 at 9:35am.
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Old Apr 11, 2003, 9:38am   #9
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PP,

Can you still place stop and limits? And there's me thinking I turned them off last week! Not to worry, I'll reinstate the trade later today.

Paul.
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Old Apr 11, 2003, 9:46am   #10
 
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Cheers Paul - i did wonder after my message whether i might be using something that's not supposed to be working(!). Having used limits on some other positions this week i thought it had been switched on again.

Purple..

PS: i may have complicated matters by proceeding with a further (RTO) trade this morning! Delete or reduce this if necessary and wind me back to last night's SOF position, and without a limit if limits are not supposed to be used. Or whatever.
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Old Apr 11, 2003, 3:24pm   #11
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Hi Purple,

Now fixed.. I removed your SOF position as otherwise it was just going to be too complicated to figure out your position.

Cheers,
Paul.
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Old Apr 11, 2003, 4:49pm   #12
 
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Many thanks Paul. I'll henceforth stick to manual exits if limits/stops system is still broken.
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