Thursday (12-03-2020) going to friday (13-03-2020) i had 3 positions open, one on SP500 and two on Dow Jones.
At the time 00.43 i put an order on US30 at the price 20550.00 i was almost 1000€ in profit at that time.
I was tracking that order live, right then i noticed that the market wasn't moving, i went to the tv to check if the markets had come to an halt and i saw nothing, then when i came back to the computer i saw that i had a -1449.12€ loss on that position, all my orders were closed.
I then noticed that when i entered the position i stopped receiving data from 00.41 to 01.01, when that candle of 01.01 open the price was 21089.20 given me a loss of -1449.12€ and closing all my positions.
My Balance was -1090€ and some cents, -1090.43€ if i'm recalling right.
I didn't have a chance to manage my position nor even any wanings of my margin, nothing.
I exchanged some emails with my account manager and in summary i have to bare the loss.
This is the last email i received:
''I understand. It is a common belief that people should be stopped out at 50% margin but when there are to be big market gaps like this one, the system can only work with the prices given.
I sincerely wish there was another way we could get around this but I can't see any available option. With the market climate these days. I can only see it being 10x more difficult for trades because of these big market movements. It has stopped me from personally trading for the time being as I found myself in a similar position to you.
I really do hope you are keeping yourself safe and healthy and if I do finds something that we can do to overcome this loss, I promise I will let you know ''
At the time 00.43 i put an order on US30 at the price 20550.00 i was almost 1000€ in profit at that time.
I was tracking that order live, right then i noticed that the market wasn't moving, i went to the tv to check if the markets had come to an halt and i saw nothing, then when i came back to the computer i saw that i had a -1449.12€ loss on that position, all my orders were closed.
I then noticed that when i entered the position i stopped receiving data from 00.41 to 01.01, when that candle of 01.01 open the price was 21089.20 given me a loss of -1449.12€ and closing all my positions.
My Balance was -1090€ and some cents, -1090.43€ if i'm recalling right.
I didn't have a chance to manage my position nor even any wanings of my margin, nothing.
I exchanged some emails with my account manager and in summary i have to bare the loss.
This is the last email i received:
''I understand. It is a common belief that people should be stopped out at 50% margin but when there are to be big market gaps like this one, the system can only work with the prices given.
I sincerely wish there was another way we could get around this but I can't see any available option. With the market climate these days. I can only see it being 10x more difficult for trades because of these big market movements. It has stopped me from personally trading for the time being as I found myself in a similar position to you.
I really do hope you are keeping yourself safe and healthy and if I do finds something that we can do to overcome this loss, I promise I will let you know ''