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Need help with understanding how an order got executed in TOS
I'm a newbie to TOS and futures and I have been learning to trade over the past few weeks using the Paper Money account.
Today I placed a buy order for 1 contract of /GCM7 @1251.00 that got filled. I then placed a stop sell order at @1250.5. A few minutes later I noticed that I got filled for the sell @1142.50 for a loss of $10,850! I don't understand how this happened. I have placed stops like this in the past few weeks since I started and have always been filled on or close to where I placed my stop.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
Please tell me this was also a sim trade..... please....
The entire sim experience can be sketchy at best, often. Companies don't put the same quality resources or time behind it because it is what it is. So, sometimes anomalies spring up. Perhaps this is an example of one?
Something like this truly happening is not out of the realm of possibilities in live trading but has a very low probability of happening....but not as low as some statistical "experts" will tell you....i.e. fat tails.
Try looking into OCO orders or bracket orders (sorry I'm not too familiar with TOS but from what I know is a good platform, especially for options) which will get placed automatically all at once when you obtain a fill.
GC is perhaps not the market to start out in. Analogies to consider might be putting on your first pair of basketball shoes and suddenly stepping out onto the NBA court with the pros or the average person thrown in to perform with Seal Team Six......the imagination can fill in the rest on this one.
Maybe check out YM or M6E...Forex? In a few years you could be back to GC but have kept a daily chart of it up just to stay abreast.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Yes, this was a sim trade...thank goodness. I am in the learning phase and don't want to invest real money until I understand some of the market fundamentals and also the use of the tools. I started using TOS because it is free.
I saw the options for OCO and bracket orders but don't know much about them. I will take a look into that.
Also, thanks for the other market recommendations. I really didn't know where to start so I just picked /GC.
