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Canceled order but still executed?


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Canceled order but still executed?

  #21 (permalink)
4gvnsnr
Lafayette Indiana
 
Posts: 9 since Sep 2014
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Requested the trace log on the 6th. Was told after the day in question passes they no longer have access to trade activities but that the platform vendor would. After giving them a rundown of exactly what happened and when they said they would forward the formal request to the platform vendor (Certigo) for review.

Still haven't heard anything back yet. Should I have received a response by now?

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  #22 (permalink)
 
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 Big Mike 
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4gvnsnr View Post
Requested the trace log on the 6th. Was told after the day in question passes they no longer have access to trade activities but that the platform vendor would. After giving them a rundown of exactly what happened and when they said they would forward the formal request to the platform vendor (Certigo) for review.

Still haven't heard anything back yet. Should I have received a response by now?

Your broker is telling you they can't look up your trade activity?

Mike

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  #23 (permalink)
4gvnsnr
Lafayette Indiana
 
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This was their exact reply upon asking for the trace log...

After the day of the trade, we no longer have access to the trade activities, but the platform vendor, Certigo would have all of the details regarding trading activity at that level. Because so many days have passed after the trading day, along with the volume of activity after that day however, will require a great deal of time in order to retrieve that information. You may make a formal request by providing the following information and we can pass it along to the platform vendor for review.


· Complete description of the event/s in question

· Date and times of the specific orders (including timeline of all orders you believe were placed and their corresponding times)

· Manner in which the orders were placed (i.e. order ticket window, from the chart, Advanced Trader, etc.)


Once we have this information, we will submit to the platform vendor and then they may have some additional questions, which we will pass along to you for clarification.

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  #24 (permalink)
 
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 Big Mike 
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4gvnsnr View Post
This was their exact reply upon asking for the trace log...

After the day of the trade, we no longer have access to the trade activities, but the platform vendor, Certigo would have all of the details regarding trading activity at that level. Because so many days have passed after the trading day, along with the volume of activity after that day however, will require a great deal of time in order to retrieve that information. You may make a formal request by providing the following information and we can pass it along to the platform vendor for review.


· Complete description of the event/s in question

· Date and times of the specific orders (including timeline of all orders you believe were placed and their corresponding times)

· Manner in which the orders were placed (i.e. order ticket window, from the chart, Advanced Trader, etc.)


Once we have this information, we will submit to the platform vendor and then they may have some additional questions, which we will pass along to you for clarification.

So make the formal request and stop wasting time, if you are serious about this. If you aren't serious then leave your broker alone and move on.

Mike

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  #25 (permalink)
4gvnsnr
Lafayette Indiana
 
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I obviously did the same day they sent that to me, I thought I made that clear in my last post. That was on the 6th , I figured I would have a response by now which is why I posted my previous question as to if it's been an unusual amount of time or not yet.

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  #26 (permalink)
 
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 Big Mike 
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4gvnsnr View Post
I obviously did the same day they sent that to me, I thought I made that clear in my last post. That was on the 6th , I figured I would have a response by now which is why I posted my previous question as to if it's been an unusual amount of time or not yet.

OK understood, sorry I thought you had just done it.

I really can't give specific advice other than your broker has responsibility to demonstrate it wasn't their error. If they can't do it, then advise them you'll move on to the NFA or CFTC. You should have already established a very clear chain of events and be certain you are right and they are wrong.

Mike

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  #27 (permalink)
 
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 SMCJB 
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Big Mike View Post
Still, if you can prove that you are correct and it is there error, then you should fight it. Keep everything in writing and then if the broker does not agree with your assessment, and your proof shows otherwise, escalate it to the NFA and CFTC. You will of course need a very clear chain of events that prove you are right and they are wrong.

I once had a situation with Interactive Brokers (for several days) where the system was overriding new stop order prices with the most recent closing price. This only happened late in the day if TWS hadn't been restarted since the close. If you restarted TWS after the close the problem didn't occur. I contacted IB and told them what was happening and they asked me to document it. So I documented it (screen shot of TWS and Order Book showing different prices) and sent them the documentation and they promptly accused me of doctoring the screen shots! Luckily for me the errors cost me virtually nothing as everytime I opened a new trade my bracket order stop loss would execute automatically at the same price. A few days later IB rolled out a new TWS version and I never had the issue again.

Big Mike View Post
And yes, you could have had outstanding OCO or stop orders in place you didn't see, or who knows what.

The last thing I do everyday is check the order book to make sure everything is cancelled.

mattz View Post
Also, you should read your online trading agreement to see what issues that could arise as a result of online trading.
This would allow you to develop a contingency plan and examine the platform functionalities for verifications of trades.

Excellent advice Matt, something all traders should take to heart. Having a good contingency plan is important.

Despite having (two) redundant internet connections I have had several occasions where I have had to contact the broker to cancel open orders as I'm unable to reconnect.
I've also have had several occurrences where I have been unable to cancel orders myself (not related to connection issues) and have also had to contact the broker directly to cancel the orders.
Twice I have had the situation where the broker themselves have been unable to cancel the order and had to contact the exchange (CME in both occurrences) to have them cancel the order!

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  #28 (permalink)
 
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 mattz   is a Vendor
 
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SMCJB View Post
Despite having (two) redundant internet connections I have had several occasions where I have had to contact the broker to cancel open orders as I'm unable to reconnect.
I've also have had several occurrences where I have been unable to cancel orders myself (not related to connection issues) and have also had to contact the broker directly to cancel the orders.
Twice I have had the situation where the broker themselves have been unable to cancel the order and had to contact the exchange (CME in both occurrences) to have them cancel the order!

Situations can arise where the order is "Stuck" on the platform but does not actually exist on the exchange.
The way to remove it is via the feed provider directly like Rithmic, CQG, TT, etc
One thing to keep in mind that the CME provides to FCMs a tool called FirmSoft that allows you to cancel orders (although not place or modify).

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  #29 (permalink)
 
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 Gambler 
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I did not find the right thread. I use this one.

I use Ninja Trader platform. I've had three trades today. When I entered two limit orders the price was like 5 ticks away. It started to move closer to my limits. My entry were @523.5 & @524.5 long for Dec Wheat. I realized that I can move down couple ticks. When I put my cursor into cell of price 524.5 to change price it filled both orders however price was higher. The same happened with third orders. All were profitable. I just cannot understand what exactly it was.
I've had it in the past as well. I'm very strong visual person by mother nature. I cannot be wrong.
My questions:
Can Ninja Trader platform show delay in prices?
My understanding is that my broker Mirus Futures/Ninja Trader filled twned inventory. I have a filling then they have a software to catch an order before it changes. Any thoughts about it?

Can anyone please confirm or falsify that?

Thanks,

Gambler

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