Lose 20K on trading 212 on one trade

Thrugelmir

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

joshua5056

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

DireEmblem

> What has happened, is that you have submitted a sell order that got doubled in our provider's systems and due to the lack of connection

The above is key then.

it is not your fault an order was allowed to execute twice in their system, hence you should not be impacted by any gains/losses as a result.

Take details of the orders / time stamps.  Make sure you keep a copy of that email and highlight it to them.

It is a fault in their system allowing two trades through and they should fix.  You should be reimbursed for the difference between the second sell and subsequent buy.

Have you tried posting in their forum under the help section?  You can tag some more experienced 212 members there to respond.

it sounds like your response from them is simply stating the facts, which is good from your point of view, but not what should have happened if their system was working correctly and didn’t ‘lose connection’.

Also take this as a cheap lesson not to gamble 80% of your savings on one stock.

joshua5056

DireEmblem said:

> What has happened, is that you have submitted a sell order that got doubled in our provider's systems and due to the lack of connection

The above is key then.

it is not your fault an order was allowed to execute twice in their system, hence you should not be impacted by any gains/losses as a result.

Take details of the orders / time stamps.  Make sure you keep a copy of that email and highlight it to them.

It is a fault in their system allowing two trades through and they should fix.  You should be reimbursed for the difference between the second sell and subsequent buy.

Have you tried posting in their forum under the help section?  You can tag some more experienced 212 members there to respond.

it sounds like your response from them is simply stating the facts, which is good from your point of view, but not what should have happened if their system was working correctly and didn’t ‘lose connection’.

Also take this as a cheap lesson not to gamble 80% of your savings on one stock.

yeap, Lesson learned. 
 I am already exchanging email with their senior customer service now, I have emailed them again, no reply from them yet. 
will update you the outcome.  cheers!

Thrugelmir

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

Meme stock conversation can be found on Reddit and SimplyWallStreet. Otherwise tap into the US news feeds such as MarketWatch, Bloomberg etc. 

csgohan4

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

classic pump and dump, reddit frenzy?

Thrugelmir

csgohan4 said:

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

classic pump and dump, reddit frenzy?

Lots of burnt fingers. With a few making a fortune. Get rich schemes suck people in. Often staking more than they can afford to lose. Market sharks will rip the shirt off your back at the first opportunity. 

csgohan4

Thrugelmir said:

csgohan4 said:

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

classic pump and dump, reddit frenzy?

Lots of burnt fingers. With a few making a fortune. Get rich schemes suck people in. Often staking more than they can afford to lose. Market sharks will rip the shirt off your back at the first opportunity. 

If i was a gambler I would be kicking myself for not putting 10k on AMC in Nov, I would have got back X30 times back potentially. But would you risk that much capital. 

Only recently an OP lost at least 20k gambling on a stock even with stop limit. 

Really depends on your risk appetite and how you can sleep at night.  I sleep better with my index trackers than individual stocks, that's for sure

Thrugelmir

csgohan4 said:

Thrugelmir said:

csgohan4 said:

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

classic pump and dump, reddit frenzy?

Lots of burnt fingers. With a few making a fortune. Get rich schemes suck people in. Often staking more than they can afford to lose. Market sharks will rip the shirt off your back at the first opportunity. 

If i was a gambler I would be kicking myself for not putting 10k on AMC in Nov, I would have got back X30 times back potentially. But would you risk that much capital. 

Only recently an OP lost at least 20k gambling on a stock even with stop limit. 

Really depends on your risk appetite and how you can sleep at night.  I sleep better with my index trackers than individual stocks, that's for sure

Remember many years ago watching a programme on two professional horse racing gamblers. They were happy turning a constant 2%-3% profit. Waited until the right opportunity came along then went big. No speculative punts. Waited until the markets priced the odds in their favour. Most people get itchy fingers and feel that cash earning them nothing is wasted. Money makes money as the saying goes. 

barnstar2077

csgohan4 said:

Thrugelmir said:

csgohan4 said:

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

Thrugelmir said:

joshua5056 said:

Thrugelmir said:

Where are you obtaining your market prices from?  In volatile markets spreads can open wide. 

I just look at trading view price .  Around 14:47 to 14:48 on 8th of June . The price of stock is between $21 to $ 22 dollars . The price of the stock is quite stable around that few mins . I expect the buy price is a bit higher ,  and the sale price is bit lower .   For cash orders ,  the price should be within close range .     It can’t be buy at $21.87 .  But sale price at $16.61.   

Would you know any place I could obtain  market buy price chat and sale price chat ?  

Thanks for the input !!

On Tuesday 8th June - 700 million shares were traded. Compared to a pre frenzy activity level of just 10 million a day.  In value terms that was around $14 billion worth. For a Company worth $9 billion.  Sheer madness. 

I doubt the share price as stable as you suggest. A minute is a long time. When activity is at these levels. 

classic pump and dump, reddit frenzy?

Lots of burnt fingers. With a few making a fortune. Get rich schemes suck people in. Often staking more than they can afford to lose. Market sharks will rip the shirt off your back at the first opportunity. 

If i was a gambler I would be kicking myself for not putting 10k on AMC in Nov, I would have got back X30 times back potentially. But would you risk that much capital. 

Only recently an OP lost at least 20k gambling on a stock even with stop limit. 

Really depends on your risk appetite and how you can sleep at night.  I sleep better with my index trackers than individual stocks, that's for sure

I use an index tracker too, but I don't see anything wrong with investing in say a dozen good companies.

The trouble is people are not doing any research they are just trying to get rich quick without thinking it through.  If x amount of people buy a stock and make it go up, then those same people will want to sell at a profit at some point, especially if it starts to lose value, which in turn makes it lose more value.  It seems pretty obvious that not everyone that participates can be a winner, and those that are late to the party will lose a lot (who knows when is too late?).  The trying to catch a falling knife analogy doesn't quite work, but you know what I mean.