Jump to content
  • 0

Platform Frozen with Open Trade. Call this number?

Question

???

Can anyone explain this @JamesIG

Live Trading Deutche Bank.  Shorting.  Profit around +£80, then the screen froze (no movement, not able to Close) and on the ticket it said:

 'If you want to trade this market call this number'.. So i did to get IG Support who had No Idea what i was talking about.  They can't get thru to the Desk? Technical have no issues to report????

Luckily the page unfroze half way thru the call, but then it had reversed and I managed to get out with £27 profit.

This can't happen.

Share this post


Link to post

20 answers to this question

Recommended Posts

  • 0

A gap has appeared in the chart.  Something else I haven't read in the Trading Manual?

frozen.thumb.jpg.183aa65f258f630c3f7f055c060b8fd2.jpg

 

Share this post


Link to post
  • 0

Hi, I've still not had a call back from IG to explain this to me.

@JamesIG Can you help me please?

Share this post


Link to post
  • 0

While waiting I can make a few observations that should interest you, no doubt you will have seen the colossal mess Deutsche  Bank has got itself into with it's derivatives business, a lesson there, but it has made the DB stock very volatile which draws many traders because it increases risk and therefore opportunity.

A point to remember though is that charts are not the market, they are only a visual representation of the market, a simulation. That's quite a difficult thing to do considering how a market works. Someone can pick up the phone and take out multiple handles in a split second and suddenly there is no market, the best bid and best offer are miles apart, until the book is reloaded nothing happens, once bids and offers can start getting paired again the market can restart but there is going to be a gap in price and a gap in time. You won't usually notice this on the higher time frames except on very illiquid stocks where a whole day can past with no activity whatsoever, but you will see it more often on the very low time frames on many stocks and even sometimes on the indices.

So because the charts are only a simulation they always have those 3 little words printed in the bottom left hand corner that the broker will always point to at times like these.

 

Share this post


Link to post
  • 0
3 hours ago, Caseynotes said:

While waiting I can make a few observations that should interest you, no doubt you will have seen the colossal mess Deutsche  Bank has got itself into with it's derivatives business, a lesson there, but it has made the DB stock very volatile which draws many traders because it increases risk and therefore opportunity.

A point to remember though is that charts are not the market, they are only a visual representation of the market, a simulation. That's quite a difficult thing to do considering how a market works. Someone can pick up the phone and take out multiple handles in a split second and suddenly there is no market, the best bid and best offer are miles apart, until the book is reloaded nothing happens, once bids and offers can start getting paired again the market can restart but there is going to be a gap in price and a gap in time. You won't usually notice this on the higher time frames except on very illiquid stocks where a whole day can past with no activity whatsoever, but you will see it more often on the very low time frames on many stocks and even sometimes on the indices.

So because the charts are only a simulation they always have those 3 little words printed in the bottom left hand corner that the broker will always point to at times like these.

 

Worth adding this Tradingview chart which use Oanda broker data if memory serves, shows the same lack of continuity.

So M1 DB chart from Monday see the 14:35 red candle, no 14:36 candle, then 14:37 and 14:38 (highlighted).

DB1.thumb.PNG.6f18f9fa104da366a23a20c143c4bf1b.PNG

Share this post


Link to post
  • 0

Hey - I've asked the Trading Services team on this side to give you a call. I believe they were still investigating the event. They should be in contact today. 

Share this post


Link to post
  • 0

Thanks folks, but I've not been receiving notifications to these replies either.

 

I'm still waiting for an answer.  The chart at the time was not particularly volatile, the volume had actually dropped off too.

What can I expect to happen here?  @Caseynotes it seems you're setting me up for a 'This happens-Get used to it' kind of response.  It's part of trading??  Seriously?

However, I also find this far from ideal and practically dangerous.

6 days!  I'm the only one with this issue?

 

Share this post


Link to post
  • 0

*Note to self.  Check the 'Notify me of Replies'...On each of my own threads.

Share this post


Link to post
  • 0
On 10/07/2019 at 09:24, Caseynotes said:

So M1 DB chart from Monday see the 14:35 red candle, no 14:36 candle, then 14:37 and 14:38 (highlighted).

Yes but now Gap, and no explanation that i had a trade open but couldn't close it.  Are you saying this is to be expected?  That i can be in a trade, but will not be able to Close?  And this is acceptable?

Share this post


Link to post
  • 0
9 minutes ago, nit2wynit said:

What can I expect to happen here?  @Caseynotes it seems you're setting me up for a 'This happens-Get used to it' kind of response.  It's part of trading??  Seriously?

I'm saying that the chart is not the market just a close simulation, I'm proving that two different brokers could not put a 1 minute candle down at the exact same time and that says the market was not functioning for that brief period. There has to be someone on the other side of every trade and if one side suddenly stops then the market freezes.  Yes it is part of trading, seriously.

Take a look at this 10 tick bar chart of Dax, even with the current lack of volatility there are gaps everywhere, that's closer to how the market really works. 

image.png.24afa14c30b63695f2e184b47e403501.png

Share this post


Link to post
  • 0

@Caseynotes I've seen gaps up and down, but not as in my example above.  In both your examples there is no Gap like I have shown.

Are you telling me, that no-one at IG has been able to thus far, including @JamesIG that this is normal?

The ONE time I'm in good profit since losing so much, the Chart Freezes, and I cannot Close my Trade to take profit.

Forget the chart Casey.

I could not close my trade.  Is this normal also?

Share this post


Link to post
  • 0

Hey - as noted in the message I just sent you I believe we have tried a number of times to contact you based on the details linked to your account. I believe looking at the correspondence that we've had with yourself, over this period Deutsche was in an auction period which means the underlying exchange halted the ability to trade this stock. This was reflected on the IG platform over the same time. 

  • Thanks 1

Share this post


Link to post
  • 0

@nit2wynit what are you looking at? both charts clearly show a gap between last close and next open, look again at the tick chart, the higher the magnification (time wise) the more gaps you see, on a tick chart you see them everywhere, on a 1 min less so and on a 1 hour less again.

Just to make you feel better the most extreme case I ever saw was watching live in Jan 2015 when the SNB unpegged CHF and it plummeted 1000 points, guys were mashing their keyboards desperately trying to get out but who wanted to take the other side, no one.

  • Thought provoking 1

Share this post


Link to post
  • 0

@Caseynotes, I'm looking at your charts.

My chart has a Left to Right Gap.  Your charts have Vertical gaps.

Regardless, the issue appears to be cleared up.  Chalk it to another loss.  Thanks to you both @JamesIG for your patience.

"With regards to you closing your Deutsche bank position, on the 8th of July 2019 at 14:36 Deutsche bank shares went into auction. At that point no trades were actioned for that minute and that was around the time you were looking to close your position. Once you got through to us the auction had ended therefore you were able to close your position."

Share this post


Link to post
  • 0
13 minutes ago, Caseynotes said:

@nit2wynit what are you looking at? both charts clearly show a gap between last close and next open, look again at the tick chart, the higher the magnification (time wise) the more gaps you see, on a tick chart you see them everywhere, on a 1 min less so and on a 1 hour less again.

Just to make you feel better the most extreme case I ever saw was watching live in Jan 2015 when the SNB unpegged CHF and it plummeted 1000 points, guys were mashing their keyboards desperately trying to get out but who wanted to take the other side, no one.

The moral of the story is don't trade highly volatile markets unless you really know what you're doing. In the CHF case people forgot the SNB could kick the prop away anytime they wanted. In the Deutsche Bank case the size of their derivative loses was big news being digested. It's the same, but far less extreme for mad data releases, wait for the whipsawing to die down.

6 minutes ago, nit2wynit said:

My chart has a Left to Right Gap.  Your charts have Vertical gaps.

Gaps are vertical, on the IG chart nothing happened so nothing was printed for that minute, on the Oanda chart they just skipped over it and went from 35 straight to 37.

  • Thanks 1

Share this post


Link to post
  • 0

Just so I'm absolutely clear here........

IF it went up 1000pts then reopened; I'd be Broke?

Share this post


Link to post
  • 0
1 minute ago, nit2wynit said:

Just so I'm absolutely clear here........

IF it went up 1000pts then reopened; I'd be Broke?

The one good thing esma did was negative loss protection on accounts so your account would be gone that's all. In the case above an Irish school teacher earning £20,000 a year was left owing IG £250,000, they had to write it off of course, if memory serves IG wrote off some £200 mil but if you had it they collected. The saga was one of the main reasons for the regulation changes.

You may of noticed I've been prodding suggestively over the last few months that perhaps a strategy seeking out volatile markets and using £170ppp bet sizes on a £2000 account might not have been one of the best ideas I've ever seen 😉

Share this post


Link to post
  • 0
4 minutes ago, Caseynotes said:

You may of noticed I've been prodding suggestively over the last few months that perhaps a strategy seeking out volatile markets and using £170ppp bet sizes on a £2000 account might not have been one of the best ideas I've ever seen 😉

Duly Noted!

Thanks  :D

Share this post


Link to post
  • 0

This could be your internet. I would personally invest in a VPS server with a stable connection to the internet to do your trading. 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Answer this question...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,249
    • Total Posts
      35,925
    • Total Members
      45,926
    Newest Member
    Ericdewettheo
    Joined 19/08/19 17:10
  • Posts

    • Meltdown? Some context required. End of 1989 Nikkei stood about 39000. Within 9 months that had halved. Over the next 22 years it halved again. At the low, financial district property worth 1% (one percent!), residential 10% of peak prices. However you look at it I reckon that was a meltdown! Still if you blow a bubble .....it will pop in your eye. They entered a deflationary period 20+ years ahead of the rest. The consequences are daunting. Poor demographics often quoted but not 30 years ago it wasn't. Overall I'm sure the Plaza Accord and the subsequent currency adjustments had a big impact. Resets......reset everything. The Brexit/EU nonsense rolls on but I'm disappointed that the UK media have not picked up on the impending next European banking crisis. The EuroStoxx Banking Index is on a precipice. Levels last seen in late 80s, during the GFC and the last Greek/Cyprus debacle  the outcome of which was the current "bail in" process you mentioned. Italy is seriously trying to issue min BOTs (because it can't afford to repay in Euros) to meet its future obligations. that's the third biggest economy in EU. France now well above accepted deficit levels and Germany probably in a recession. Show me the door.......
    • Thank you JamesIG for your explanation of how IG determine their price charts. "This means there will always be a discrepancy with the highly publicized index price" ... Yes that is also noted but your company "interpretation" has the low 9 days before the other outlets. However you want to spin (explain) it. That makes it incredibly difficult to ascertain what a real low is.....is it the one you show or the one the others show? It also, at least to me, appears that best practise would be served if the resulting price chart reflects the index it purports to follow/promote. EWT users ( I follow a US analyst) will know the frustration. His DOW chart shows a different low....and therefore a different count. Tongue in cheek.....so when was the recent low in the past two weeks?
×
×