Lose 20K on trading 212 on one trade

joshua5056

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. 

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

It was volatile for sure .   But share price is between $20.50 and $22.50 at 15:40 to 15:50 on that day .  Just look at trading view  price chat or any price chat .   

masonic

joshua5056 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. 

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

It was volatile for sure .   But share price is between $20.50 and $22.50 at 15:40 to 15:50 on that day .  Just look at trading view  price chat or any price chat .   

If by "price chat" you mean price chart, then you'll find they don't give a good representation of prices that would have been achieved in practice, especially when there is a feeding frenzy. What you need is a list of actual market trades for that day. If you are looking for evidence of fraud by T212, I doubt you will find it. Do bear in mind that T212 does not push all its trades out to the market, and uses internal matching and alternative markets to fulfil some types of order.

Grenage

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

It's human nature to think about the missed opportunities; people don't think enough about the duff decisions they avoided making.

At the end of the day, one makes the right decision at the time based on sane facts.

Thrugelmir

masonic said:

joshua5056 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. 

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

It was volatile for sure .   But share price is between $20.50 and $22.50 at 15:40 to 15:50 on that day .  Just look at trading view  price chat or any price chat .   

If by "price chat" you mean price chart, then you'll find they don't give a good representation of prices that would have been achieved in practice, especially when there is a feeding frenzy. What you need is a list of actual market trades for that day. If you are looking for evidence of fraud by T212, I doubt you will find it. Do bear in mind that T212 does not push all its trades out to the market, and uses internal matching and alternative markets to fulfil some types of order.

 Limited information can be found on the Nasdaq site. 

https://www.nasdaq.com/market-activity/stocks/clov

Trading today around $12.70 at close. Certainly not a stock for the faint hearted. 

joshua5056

masonic said:

If by "price chat" you mean price chart, then you'll find they don't give a good representation of prices that would have been achieved in practice, especially when there is a feeding frenzy. What you need is a list of actual market trades for that day. If you are looking for evidence of fraud by T212, I doubt you will find it. Do bear in mind that T212 does not push all its trades out to the market, and uses internal matching and alternative markets to fulfil some types of order.

thanks for reply,  they did reply say the buy price chat is different from sell price chat.  I replied: I am aware of that,  but I expect them to be within reasonable range, especially for a cash account,  it can't be at $ 22.87 for buy order and  $16.61 for sell order.   especially when the  price chat around that few mins is between $21.50 and $ 22.    So I request them to send a sell price chat to me  if it is available .  never heard from them since.     I am filing a formal complaint to their compliance department which they say is independent.  then it is rejected, I will try FOS.  

Thrugelmir

joshua5056 said:

masonic said:

If by "price chat" you mean price chart, then you'll find they don't give a good representation of prices that would have been achieved in practice, especially when there is a feeding frenzy. What you need is a list of actual market trades for that day. If you are looking for evidence of fraud by T212, I doubt you will find it. Do bear in mind that T212 does not push all its trades out to the market, and uses internal matching and alternative markets to fulfil some types of order.

thanks for reply,  they did reply say the buy price chat is different from sell price chat.  I replied: I am aware of that,  but I expect them to be within reasonable range, especially for a cash account,  it can't be at $ 22.87 for buy order and  $16.61 for sell order.   especially when the  price chat around that few mins is between $21.50 and $ 22.    So I request them to send a sell price chat to me  if it is available .  never heard from them since.     I am filing a formal complaint to their compliance department which they say is independent.  then it is rejected, I will try FOS.  

They won't a share price chart. Why would they. The trades are executed by Interactive Brokers LLC . Are you going to attempt to claim that IB acted improperly ?  Good luck with that claim.  Not going to have any traction I fear. 

" but I expect them to be within reasonable range, especially for a cash account,"

Why? This a meme stock not Microsoft, Unilever or VW. What's the relevance of a cash account? 

joshua5056

" but I expect them to be within reasonable range, especially for a cash account,"

Why? This a meme stock not Microsoft, Unilever or VW. What's the relevance of a cash account? 

I don't quite get it.  let's say we look at the price of the certain stock at a particular time is $20,  when you create a buy order, they send your order to the market,  it might executed at $20.5 or $20.80.   when you create a sell order, it might executed at $19.50 .   they are still within closer range of the stock price of $20,  right?      I understand you say they are volatile , if at that minute, the stock took a nose dive,  by the time, the order been send to the market and executed , the stock price might dropped to $17 dollar.   is that right? 

In my case between the time 14:47 and 14:48 on that day when the sell order and buy order is filled .  the stock price never fell below $21.50  .  how can the sale order filled at $16.61    it can't be that far apart, isn't it? 
 Am I missing something?  you are saying it is normal to filled the sale order at that price?  

masonic

joshua5056 said:

" but I expect them to be within reasonable range, especially for a cash account,"

Why? This a meme stock not Microsoft, Unilever or VW. What's the relevance of a cash account? 

I don't quite get it.  let's say we look at the price of the certain stock at a particular time is $20,  when you create a buy order, they send your order to the market,  it might executed at $20.5 or $20.80.   when you create a sell order, it might executed at $19.50 .   they are still within closer range of the stock price of $20,  right?      I understand you say they are volatile , if at that minute, the stock took a nose dive,  by the time, the order been send to the market and executed , the stock price might dropped to $17 dollar.   is that right? 

In my case between the time 14:47 and 14:48 on that day when the sell order and buy order is filled .  the stock price never fell below $21.50  .  how can the sale order filled at $16.61    it can't be that far apart, isn't it? 
 Am I missing something?  you are saying it is normal to filled the sale order at that price?  

If you are a seller, then your order is subject to their being someone else willing to buy. If your order comes in after a large number of other sells, then those prior sells could have wiped out those with limit buys sending the price tumbling, temporarily, until market makers jump in and replenish the market. This could happen in seconds, leaving the average price plotted on a chart with 1 minute ticks unaffected. The smaller the stock, the more of a problem this can be.

If you watch a live chart from somewhere like Google Finance, you'll see things like this happen, the current point in the plot will be adjusted up and down, finally fixing at the price at the end of the interval, with no record of any of the intermediate prices it had gone through.

Thrugelmir

joshua5056 said:

" but I expect them to be within reasonable range, especially for a cash account,"

Why? This a meme stock not Microsoft, Unilever or VW. What's the relevance of a cash account? 

I don't quite get it.  let's say we look at the price of the certain stock at a particular time is $20,  when you create a buy order, they send your order to the market,  it might executed at $20.5 or $20.80.   when you create a sell order, it might executed at $19.50 .   they are still within closer range of the stock price of $20,  right?      I understand you say they are volatile , if at that minute, the stock took a nose dive,  by the time, the order been send to the market and executed , the stock price might dropped to $17 dollar.   is that right? 

In my case between the time 14:47 and 14:48 on that day when the sell order and buy order is filled .  the stock price never fell below $21.50  .  how can the sale order filled at $16.61    it can't be that far apart, isn't it? 
 Am I missing something?  you are saying it is normal to filled the sale order at that price?  

When there's 700 million shares changing hands the price will be bouncing up and down like a yoyo. 

To put 700m into perspective. Here's the trading the volume on the LSE today for some major stocks.

HSBC 11m
BP 32m
Unilever 2m
Astra Zeneca 1m
Shell 9m
Barclays 23m
Glaxo 6m

snowqueen555

platforms are prone to glitching, it isn't all explained away by general mechanics. I read a similar issue in the t212 subreddit, might be worth heading over there to have a look.

Just beware of trading stocks that are volatile and open to trading halts etc.

My only experience I have had is a share was halted, and my buy order executed during the halt due to some glitch, ended up purchasing a bunch of stock at a really high price, and when the stock was unhalted I was down some 50%, so took a big loss there.