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The HSI Index Futures Scalping Experiment


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The HSI Index Futures Scalping Experiment

  #81 (permalink)
 
josh's Avatar
 josh 
Georgia, US
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I had a weird/bad evening -- I put on a long in the Nikkei, and due to some CQG weirdness, literally couldn't close the trade. And the trade desk couldn't either. Luckily, the ability to place orders was working sporadically, and I was able to close it. Nothing like seeing a trade go against you 100 points and being able to do nothing about it ... I thought I would hedge, but glad I didn't, as there wasn't very good correlation and I probably would have wound up losing money in the process. I got lucky to actually see it turn around 200 points so I closed for a profit.

Due to this distraction, I had an HSI trade on that I let go against me, and so it was just an all around weird night. I decided to leave well enough alone and call it an evening with a few losses. When this kind of thing happens, the universe is telling me to go to bed

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  #82 (permalink)
 
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  #83 (permalink)
 steve2222 
Auckland, New Zealand
 
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josh View Post
I had a weird/bad evening -- I put on a long in the Nikkei, and due to some CQG weirdness, literally couldn't close the trade. And the trade desk couldn't either. .........

Hope CQG and the Trade Desk are continuing to investigate this for you to find out why you could not close the trade.

Makes me a bit nervous - I would be interested in their answer once investigated. Clearly it is nothing to do with your software as the Trade Desk could not close you out either.

(think we have the same setup: CQG>SC>AMP)

Prediction is very difficult, especially about the future - Niels Bohr, Danish Physicist
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  #84 (permalink)
 
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 josh 
Georgia, US
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steve2222 View Post
Hope CQG and the Trade Desk are continuing to investigate this for you to find out why you could not close the trade.

Makes me a bit nervous - I would be interested in their answer once investigated. Clearly it is nothing to do with your software as the Trade Desk could not close you out either.

(think we have the same setup: CQG>SC>AMP)

@ steve2222 or @ Godzilla

Do you subscribe to the MJNK? If so, can you see whether you are able to place a few orders away from the market when it opens? The latest status for me today was "it should be fixed" and of course, it was not. I can place 1 lot, but not more. Last night I could bid (to get long) but could not offer out to close the trade. If you are not comfortable doing this I completely understand (FWIW, I've had no issues canceling orders, just placing them).

The error is:


Trade Order Error - CQG order update. Status: REJECTED. Text: Order is not within the risk parameters set for this firm. Internal Order ID: XXXXXX Service Order ID: ZZZZZZZZ. Symbol: F.US.MJNKM20. Account: 555555 | 2020-03-24 12:00:00.876

They fixed this before, but it reappeared. If AMP can't get their shit together on this one, I'll be looking for another broker which offers CQG, so I can at least trade HKFE (or any other data/broker which allows this). When I called the trade desk, I was put on hold for 9 minutes while I went into the hole and then back positive on my position. I understand this, as they were put on hold by CQG. The guy was not rude, but no "apologies for the trouble" or anything, just .... "um, ok" kind of service. I don't need my ass kissed (or I wouldn't be with SC ) but I would expect a little concern over the fact that the clearing firm can't flatten my position.

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  #85 (permalink)
Godzilla
Brisbane, Australia
 
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josh View Post
@ steve2222 or @ Godzilla

Do you subscribe to the MJNK? If so, can you see whether you are able to place a few orders away from the market when it opens? The latest status for me today was "it should be fixed" and of course, it was not. I can place 1 lot, but not more. Last night I could bid (to get long) but could not offer out to close the trade. If you are not comfortable doing this I completely understand (FWIW, I've had no issues canceling orders, just placing them).

The error is:


Trade Order Error - CQG order update. Status: REJECTED. Text: Order is not within the risk parameters set for this firm. Internal Order ID: XXXXXX Service Order ID: ZZZZZZZZ. Symbol: F.US.MJNKM20. Account: 555555 | 2020-03-24 12:00:00.876

They fixed this before, but it reappeared. If AMP can't get their shit together on this one, I'll be looking for another broker which offers CQG, so I can at least trade HKFE (or any other data/broker which allows this). When I called the trade desk, I was put on hold for 9 minutes while I went into the hole and then back positive on my position. I understand this, as they were put on hold by CQG. The guy was not rude, but no "apologies for the trouble" or anything, just .... "um, ok" kind of service. I don't need my ass kissed (or I wouldn't be with SC ) but I would expect a little concern over the fact that the clearing firm can't flatten my position.


WTF!!??
This is ridiculous.....I would definitely be looking for a back-up brokerage account after this fiasco (Let me know who you choose if you do so?) ....I've never heard of such a screw-up when you cant flatten your position...scares the hell out of me.

Josh - I only subscribe to HKFE currently.

fyi...when I'm on SIM mode (same as live for functionality etc I've been told) I have mistakenly placed an order before the open like a buy bracket orders above the market and got filled instantly at the last closing price on the screen - yet I "CAN" hit the "flatten" button on SC to bring the position back to 0 (zero) for zero P&L impact (as all done before the actual pre-open on the HSI) ..I'm not sure if this is the same sort of behaviour your seeing ?

Take care buddy and please keep us informed of any feedback from AMP ?

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  #86 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
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Broker: AMP/CQG
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Godzilla View Post
WTF!!??
This is ridiculous.....I would definitely be looking for a back-up brokerage account after this fiasco (Let me know who you choose if you do so?) ....I've never heard of such a screw-up when you cant flatten your position...scares the hell out of me.

Josh - I only subscribe to HKFE currently.

fyi...when I'm on SIM mode (same as live for functionality etc I've been told) I have mistakenly placed an order before the open like a buy bracket orders above the market and got filled instantly at the last closing price on the screen - yet I "CAN" hit the "flatten" button on SC to bring the position back to 0 (zero) for zero P&L impact (as all done before the actual pre-open on the HSI) ..I'm not sure if this is the same sort of behaviour your seeing ?

Take care buddy and please keep us informed of any feedback from AMP ?

Guys ( @josh ), I cant add much more because I don't currently subscribe to MJNK data (only HKFE, Eurex and CME). NJNK historically never moved enough for my trading style (probably different in this market - maybe I should look at it again).

I too am concerned that AMP could not flatten your position. This really worries me. Interesting that they say the problem was fixed but it wasn't, so they must know what the issue was/is - would be interested to know the outcome when you have it.

Josh, it may not have helped, but did you try logging onto to CQG directly to try to flatten? I have this as part of my disaster plan. I have the CQG Mobile app on my phone (but you can access it via the web and a browser as well). I don't use it for placing trades, but I would use it if my trading computer or internet connection packed a sad and I needed to flatten or assess where price was to decide if I would flatten. So it is an alternative to phoning the broker. Because it is on my phone it gives redundancy for my home fibre going down but the mobile network is still up.

Now CQG only allow you one connection (unless you pay via AMP $10 a month) so it means that to use CQG Mobile you first have to disconnect from CQG in SC.

Prediction is very difficult, especially about the future - Niels Bohr, Danish Physicist
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  #87 (permalink)
 
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 josh 
Georgia, US
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Godzilla View Post
fyi...when I'm on SIM mode (same as live for functionality etc I've been told) I have mistakenly placed an order before the open like a buy bracket orders above the market and got filled instantly at the last closing price on the screen - yet I "CAN" hit the "flatten" button on SC to bring the position back to 0 (zero) for zero P&L impact (as all done before the actual pre-open on the HSI) ..I'm not sure if this is the same sort of behaviour your seeing ?
Take care buddy and please keep us informed of any feedback from AMP ?


Before I took my position, I was unable to place a limit to sell, but I was able to place one to buy. I thought that the restriction must have been that I couldn't sell to open. I never thought under any scenario that I could not sell to close. The lesson is that when things are wonky, simply don't do anything, and get it resolved! Note I have only had issues with the osaka/japan exchange, not any others. I will keep you posted. Maybe a higher power is saying to me, "Godzilla already told you not to trade MJNK ... maybe this will change your mind?"

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  #88 (permalink)
Godzilla
Brisbane, Australia
 
Posts: 206 since Nov 2013
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steve2222 View Post
Guys ( @josh ), I cant add much more because I don't currently subscribe to MJNK data (only HKFE, Eurex and CME). NJNK historically never moved enough for my trading style (probably different in this market - maybe I should look at it again).

I too am concerned that AMP could not flatten your position. This really worries me. Interesting that they say the problem was fixed but it wasn't, so they must know what the issue was/is - would be interested to know the outcome when you have it.

Josh, it may not have helped, but did you try logging onto to CQG directly to try to flatten? I have this as part of my disaster plan. I have the CQG Mobile app on my phone (but you can access it via the web and a browser as well). I don't use it for placing trades, but I would use it if my trading computer or internet connection packed a sad and I needed to flatten or assess where price was to decide if I would flatten. So it is an alternative to phoning the broker. Because it is on my phone it gives redundancy for my home fibre going down but the mobile network is still up.

Now CQG only allow you one connection (unless you pay via AMP $10 a month) so it means that to use CQG Mobile you first have to disconnect from CQG in SC.


I like the way you think.....good business planning! I've seen too many screw ups in my previous corporate life.

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  #89 (permalink)
 
josh's Avatar
 josh 
Georgia, US
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steve2222 View Post
I too am concerned that AMP could not flatten your position. This really worries me. Interesting that they say the problem was fixed but it wasn't, so they must know what the issue was/is - would be interested to know the outcome when you have it.

Josh, it may not have helped, but did you try logging onto to CQG directly to try to flatten? I have this as part of my disaster plan. I have the CQG Mobile app on my phone (but you can access it via the web and a browser as well). I don't use it for placing trades, but I would use it if my trading computer or internet connection packed a sad and I needed to flatten or assess where price was to decide if I would flatten. So it is an alternative to phoning the broker. Because it is on my phone it gives redundancy for my home fibre going down but the mobile network is still up.

Now CQG only allow you one connection (unless you pay via AMP $10 a month) so it means that to use CQG Mobile you first have to disconnect from CQG in SC.

Thanks @ steve2222 -- I do use the CQG web interface (and mobile app) for offsite trading from time to time. In fact, the web version is quite nice, for a web product!

I should have probably tried your suggestion but really my priority was to get someone live who I could say "account number, get me flat immediately" -- and under the circumstances, I don't think it would have worked anyway.

I have talked with the desk manager today and the good news is that they are aware of the issue, and that the problem sits not with them, not with CQG, but with their clearing firm. They will get it fixed by tomorrow, I'm told. And it does in fact affect everyone, not just me. So, this will be fixed soon I hope.

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  #90 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
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josh View Post
Thanks @ steve2222 ......

I have talked with the desk manager today and the good news is that they are aware of the issue, and that the problem sits not with them, not with CQG, but with their clearing firm. They will get it fixed by tomorrow, I'm told. And it does in fact affect everyone, not just me. So, this will be fixed soon I hope.

Oh, I thought AMP was an FCM and did their own clearing? Although thinking about it, maybe that does not apply to exchanges outside the USA where they may use, in this case, a Japan based clearing firm.

Did you get the impression that when they said 'it affects everyone' that they meant in relation to the Japan exchange traded instruments only, or was it a general problem impacting instruments on any exchanges?

Prediction is very difficult, especially about the future - Niels Bohr, Danish Physicist
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