What do you do if you accidentally click the wrong instrument.

[Technically Fundamental]

and you find yourself trading an unanalysed position at a loss.

 

[KillPhil08]

close it. Derrrrrrr.

 

[TheBramble]

Breaking News.....

JTrader reincarnated...

 

[elitejets]

I did it once and bought gas oil instead of crude. A massive fat finger equivalent because of the size and it is a $1 spread. its not pretty and you (hopefully) only do it once ...

 

[Rossini]

I had a computer blip the other day, I couldn't understand why I wasn't being filled on Gbp Jpy so I kept on clicking in frustration (one click dealing). Suddenly the platform woke up again and I was filled more then 20X (80 lots) over £500 per pt. I looked at the P&L to close out and saw it was in $ not £. I had accidently logged onto the demo account



I must remember not to do that again!

 

[everyonerich]

happened to me once, i was shocked. decided to wait for a min or two.. then close doesnt matter loss or profit.

 

[Mr. Charts]

and you find yourself trading an unanalysed position at a loss.

Well, you could post on t2w and offer a $1million to anyone who could tell you how to trade it into profit.

 

[arabianights]

double up

 

[Mr. Charts]

double up

What, just the once ?!

 

[everyonerich]

Well, you could post on t2w and offer a $1million to anyone who could tell you how to trade it into profit.

:|

 

[Technically Fundamental]

double up

just like red/black roulette lol

 

[TheHoneyMonster]

Good question, and i bet this has happened to more people than who would care to admit, early on.

I suppose this mistake is fairly easy to make in an app like metatrader where all the instruments are listed in a drop down from a single order ticket.

The other rookie schoolboy error is going long when you meant short vice versa, particularly when taking a stop loss hit. Whenever this has happened to me up until now, after a few fumbled panicked clicks to get me out of this double position, i remarkably have tended to come out with a much smaller loss, or even a profit!

In short, though, my policy would be to get out ASAP.
Better to trip and only spill half your pint, than launch it across the room smashing it against the cigarette machine, and getting barred in the process!

 

[everyonerich]

right click on the market watch and hide the instrument you dont trade.

 

[Technically Fundamental]

I also think best option is to exit that b*tch unless you turn straight to profit and you see that candle reaching for the sky. In that case I think I'd hold on for a minute. If it ever happens again im out at whatever loss i pick up. There's always another day and another trade... for now.

 

[TheHoneyMonster]

This is another very good reason for trading only one instrument.

 

[Rossini]

right click on the market watch and hide the instrument you dont trade.

You can talk sense... ;-)

 

[MrGecko]

I'm with the folk who say sit on it and see what happens. Just because you didn't intend to trade it doesn't mean you are destined for bankruptcy if you give it a little room to breathe... maybe put a limit in on the other side of your entry, so you are not down net of comms - you would have to be pretty unlucky (or v. talented) to pick the bottom / top to the tick.

 

[Technically Fundamental]

i found the absolute bottom of that pullback on the hourly gbp/usd today at 12 oclock

I tried to get in quick (i.e. not focused) I clicked gpb/eur instead. 25 contracts

I saw it going up but my p&l was going deeper into the red so I realised my mistake.

Then, get ready for this... I held on to the trade for a bit closed the losing eur/gbp at a small loss nut also decided to SHORT GBP/USD???

I still absolutely zero justification for that short. It was like I F-ed up and then I regressed into a lost child with severelt impaired cognative ability.

Another fine example of trying to trade against the trend.

 

[MrGecko]

 

[Technically Fundamental]

That could be the most British poster I've ever seen