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Limit Orders Wrongly Closed



June 04, 2009 – Comments (10)

I currently only use limit orders on my .OB and .PK picks.  Today, I manually closed 2 of my picks.  However, I just checked, and every single .OB and .PK stock got ended today, many for negative points.

Did anyone else have picks with limits closed, many for negative points?

10 Comments – Post Your Own

#1) On June 04, 2009 at 5:49 PM, outoffocus (23.80) wrote:

Well. It seems like my OMG pick got closed again and I don't recall closing it.  TMF is making me think I'm crazy.

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#2) On June 04, 2009 at 6:27 PM, Varchild2008 (83.80) wrote:

Sorry, I never used LIMITS in CAPS... And given this frustration I now won't consider it.

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#3) On June 04, 2009 at 7:50 PM, tonylogan1 (27.65) wrote:

Yep, I had a limit to close GM at 20 cents, but somehow it cosed me today at 75 cents.



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#4) On June 04, 2009 at 10:47 PM, TSIF (99.97) wrote:

Yep, I lost one today as well. I blogged about it on Jake's blog where he introduced it to us.  It was a pick that had been bobbing back and forth from positive to negative. It closed at the worst possible time.  Only a negative 4 points, but my accuracy is right on a crucial spot.

A few other people added to his blog as well, so perhaps they will correct.

Thanks for confirming for me that while I'm not sane, I'm not quite as insane as the systems makes me appear!

 - TSIF 


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#5) On June 05, 2009 at 9:44 AM, TMFJake (92.30) wrote:

Many apologies.  Yesterday, a change to the Limit Order process was implemented that incorrectly closed some picks.  The change was addressing a bug in which picks with End Limits were not closing when someone explicitly ended their pick if the close limits weren't met.  We changed the process so that you can override your close limit and end a pick.  However, in rolling out this change a problem resulted in some picks closing inappropriately.

We are re-opening the affected picks as of today.  Very sorry for the inconvenience and thanks for alerting us to the problem!

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#6) On June 05, 2009 at 9:50 AM, TMFJake (92.30) wrote:

TSIF, I believe your MHGC pick was corrected as well.

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#7) On June 05, 2009 at 9:57 AM, TSIF (99.97) wrote:

Thanks!  The team is on the job as always.

I did notice the bug that a limit order overrode a manual. I figured it out when a manual close didn't close!  Thanks for fixing that one as well.

Great job!!!

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#8) On June 05, 2009 at 5:26 PM, TMFBabo (100.00) wrote:

Yes, thanks TMFJake and the TMF team! I was glad to see my picks restored. 

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#9) On June 18, 2009 at 12:13 PM, tonylogan1 (27.65) wrote:

Do I just not understand how limit orders work on CAPS?

My SPCHB was closed yesterday at 2.51 even though I had a limit order to close below 2.10?


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#10) On June 18, 2009 at 12:20 PM, EggplantWizard (84.83) wrote:

I had an issue with this as well, with ARTC.PK some weeks back.

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