International markets traders banter

[boofis]

Nice trend on the Seng, anyone else getting a chunk of this? Who spoofed the 120 lot....T/H

 

[notting]

US House just passed the Bill
Now for the Debt Ceiling!

 

[boofis]

Anyone want to fund my drawdown? I'm trying to single handedly pay off US debt

 

[Trembling Hand]

Surprised there is no talk of a gap fill..!?



Maybe Tuesday night?

 

[boofis]

My crystal ball says how on earth did you deduce Tuesday night?
Drawdown real account so decide to trade sim mini honks today instead of giving any more back to the market and pick up 80 odd ticks: damn.

 

[cynic]

Anyone want to fund my drawdown? I'm trying to single handedly pay off US debt

Much as I'd love to be able to assist, I am still recovering from the 4% gap in the DAX futures when the market reopened last Wednseday.

There's nothing quite like watching 6,000 Euros vanish from one's account. All in less time than it takes to blink an eye!

 

[CanOz]

Much as I'd love to be able to assist, I am still recovering from the 4% gap in the DAX futures when the market reopened last Wednseday.

There's nothing quite like watching 6,000 Euros vanish from one's account. All in less time than it takes to blink an eye!

Ya know, that's what finally made me stop trading intra-day systems. I could't stand the ridiculous things that happened in front of my eyes...At least when you're trading discretionary you have an intuitiveness that algoes just can't replicate (yet).

EOD, no problem. Maybe its because I've been trading EOD for 7 years...

CanOz

 

[skc]

Much as I'd love to be able to assist, I am still recovering from the 4% gap in the DAX futures when the market reopened last Wednseday.

There's nothing quite like watching 6,000 Euros vanish from one's account. All in less time than it takes to blink an eye!

That hurts... but why would you hold over the holidays when you know there was a big market event over that time...

 

[Trembling Hand]

That hurts... but why would you hold over the holidays when you know there was a big market event over that time...

Cuz ya think its gonna go your way?

 

[cynic]

That hurts... but why would you hold over the holidays when you know there was a big market event over that time...

I'm dedicated to trading my systems and flatly refuse to let those petty little things like fiscal cliffs, GFC's and European defaults dissuade me.

 

[skc]

I'm dedicated to trading my systems and flatly refuse to let those petty little things like fiscal cliffs, GFC's and European defaults dissuade me.

How many fiscal cliffs and GFC's were back tested in your system?

 

[cynic]

How many fiscal cliffs and GFC's were back tested in your system?

None whatsoever!

 

[boofis]

Much as I'd love to be able to assist, I am still recovering from the 4% gap in the DAX futures when the market reopened last Wednseday.

There's nothing quite like watching 6,000 Euros vanish from one's account. All in less time than it takes to blink an eye!

If 6000Euros vanished from my account, well, there wouldn't be an account haha
Next 1000 trades, your system will make it back!

 

[cynic]

If 6000Euros vanished from my account, well, there wouldn't be an account haha
Next 1000 trades, your system will make it back!

Thanks for that boofis. Luckily I've already managed to recover approx. 2-3K already. Another week or two and I'll probably be back in clover.

 

[CanOz]

Thanks for that boofis. Luckily I've already managed to recover approx. 2-3K already. Another week or two and I'll probably be back in clover.

Kudos Cynic...you got a good stomach on ya!

 

[cynic]

Ya know, that's what finally made me stop trading intra-day systems. I could't stand the ridiculous things that happened in front of my eyes...At least when you're trading discretionary you have an intuitiveness that algoes just can't replicate (yet).

EOD, no problem. Maybe its because I've been trading EOD for 7 years...

CanOz

The additional flexibility offered by discretionary trading certainly has its advantages - particularly with respect to the application of intuition.

One of the most efficient stock pickers I ever met knew virtually nothing about the stockmarket (or the stocks she selected). She'd simply say there's something about the sound of that company's name that I like, and sure enough, a month later there'd be an announcement and it'd rocket to the moon!

 

[CanOz]

One of the most efficient stock pickers I ever met knew virtually nothing about the stockmarket (or the stocks she selected). She'd simply say there's something about the sound of that company's name that I like, and sure enough, a month later there'd be an announcement and it'd rocket to the moon!

Women's intuition on steroids, a god!...:venus:

 

[boofis]

HSI:
23 385 is like

 

[Trembling Hand]

Bit slow but Bot fat finger yesterday on the Kospi,

Good morning,

Regarding the futures fat bid incident yesterday, here we summarize a related article from a local business press, Money Today.

Around 2pm on January 7th, there emerged 120,000 contracts of KOSPI200 index futures at 268.20pt.

The trading amount was KRW 15.6 trillion, and the order was from Hong Kong DMA account, using the DMA pipeline of KB Investment & Securities ("KB I&S", the KRX member firm).

According to one person at KB I&S, "The accident was due to a foreign investor's trading system glitch. KB is now discussing related issues such as margin with KRX."


As between 20,000 and 80,000 contracts were filled due to this system glitch, the buyer will have to deposit the futures margin by noon on January 8th.

The 13.5% margin on the filled buy orders are estimated to be maximum KRW 2 trillion.

If the trade is not liquidated by 12pm, KB I&S must deposit the margin, and the investor needs to pay the margin to KB I&S.


One person at KRX said, "There will be no obligation if KB I&S unwind the buy trade before 12pm tomorrow. There is no regulatory measure to help them to be exempt from the margin requirement."

However, since the daily volume of KOSPI200 futures is between 100,000 and 200,000 contracts, it is not going to be easy for the investor to liquidate the open position at one time.

One derivatives analyst commented, "It would not be easy to liquidate the whole open position by 12pm. If there is unwinding action tomorrow morning, this will end up with sharp basis decline that may trigger massive program selling."


Seeing the pattern of the issued trades, the error trade continued to be filled, not cancelled immediately. Total 76,000 contracts were filled out of the whole 120,000 contracts until the end of the market.

Market experts attributed that it took lengthy to cancel the erroneous trades becasue the orders were filled by 1 lot (total 120,000 times) due to algorithmic logic bug.


We will keep paying attention to this issue, and give you heads-up.

Thank you very much.


Best regards,

Derivatives Sales & E-Trading

Samsung Securities Co., Ltd.

11/F, Samsung Main Building

 

[skc]

Bit slow but Bot fat finger yesterday on the Kospi,

I was worried it was you...