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Non-Tech : Interactive Brokers / Timberhill -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (2432)	1/16/2002 7:16:38 PM
From: booters	Read Replies (5) \| Respond to of 9012

>WOW! when was that?< Think it was 1/4/01. I went long a few minutes before the price spiked up over 300 points. I put a stop order under it to lock in about 250 points of the spike but the market went wild and by the time my order filled I was only left with about 150 points of the move. Still a great gift I will admit and did not complain. I was lucky to be on the right side of the move but it still scared me. Realizing I could have been short and that any stop I would have had in place could have easily been filled 200 or 300 points away was a sobering experience. I was sure it had happened to many just as it has now happened to Rok. This all reminds me of my worse experience ever. I use to trade pork bellies years ago. Back when they where considered the NQs of the day and a hot market to trade. They have daily lock limits like the limits we now have in the NQs but with one difference. If the price is not able to trade off the limit the market is locked until it can. The limit does not have a time element. This means you can get stuck in a trade. I went short one day and the market began to slip. I was very excited at mid afternoon when the price had locked limit down and stayed that way till closing. The next day the market opened lock limit down and I was really pleased. When it opened locked limit down for the third day in a row I felt sorry for those stuck in long trades but I spent most of the day thinking about how I was going to spend the fortune I was making on the best trade I had ever made. I was shocked the next morning when the market opened LOCKED LIMIT UP and stayed there all day long. It then opened locked limit up for the next 5 days in a row. Nobody could remember when the market had ever opened lock limit down for three days in a row but everybody was sure it had never then turned around and gone limit up for the next 5 days. I sat each day and watched as all my profit was peeled away and then sat in utter amazement as most of my capital began to go also. It was a life changing experience and I have never been the same since. If you trade the futures market it is part of the game. Many traders are not aware these things can happen but they can and they do and they must be taken into consideration. boots