Fat Finger

I’ve been doing some manual trades now and then.  Was at the gym this morning and thought to buy an equity.

Dumb thing to do:  Sent in the request from my iphone, accidentally multiplying the amount by 10x.   I ended up long with a 600K$ position that did not want.   For whatever reason could not manage to put in the sell from the phone and was getting worried that I could not properly monitor the appropriate exit.    Had to leave mid-exercise and handle.

Luckily  exited with a few thousand in profit, but could have gone the other way.

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3 Comments

Filed under strategies

3 responses to “Fat Finger

  1. bootstrap

    wow, congrats on the happy ending!

  2. tr8dr

    Actually I was lucky with the trade — bad things could have happened given that was 10x exposed.

    So I don’t count this as a success …

  3. Flojomojo

    I guess it happens once to all of us. Very scary experience…had the same problem once. Order accidently too big + IB 15 minute server downtime = one months profits wiped out. We all learn from our actions. 🙂

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