This is with GFT
I went through discussions with their trading desk about this and I have come to the conclusion their trading system has a glitch that can screw you.
I noticed I still had an open position after my stop was passed, the losses were adding up.
I entered a "Close All" order to close my open position.
I noticed somehow I had a new position open. I closed this new position.
I asked their trading desk about this. Apparently, their system puts you in a new position when you activated the "Close All" function if you have a stop order placed. They said I should've called them instead of trying to close the position.
Are you kidding me? I'm supposed to watch my money flow out of my account while I'm on the phone trying to reach an agent? I'm supposed to assume the "Close All" selection puts me in a new position instead of closing all my open positions?
My advice, never trade with GFT when there is any market volatility at all. You should also call your rep to go through every order entry and exit function with a detailed explanation of how they work.
I went through discussions with their trading desk about this and I have come to the conclusion their trading system has a glitch that can screw you.
I noticed I still had an open position after my stop was passed, the losses were adding up.
I entered a "Close All" order to close my open position.
I noticed somehow I had a new position open. I closed this new position.
I asked their trading desk about this. Apparently, their system puts you in a new position when you activated the "Close All" function if you have a stop order placed. They said I should've called them instead of trying to close the position.
Are you kidding me? I'm supposed to watch my money flow out of my account while I'm on the phone trying to reach an agent? I'm supposed to assume the "Close All" selection puts me in a new position instead of closing all my open positions?
My advice, never trade with GFT when there is any market volatility at all. You should also call your rep to go through every order entry and exit function with a detailed explanation of how they work.