Hacked account? Or just plain foolish mistake | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

plain old technical analysis? 15 replies

Foolish EA request - help me win a sixpack of Heineken 6 replies

foolish games 14 replies

Foolish Trade 11 replies

There's no such thing as "plain" Mouteki 0 replies

Hacked account? Or just plain foolish mistake

  • #1
  • First Post: Jun 5, 2010 10:23am Jun 5, 2010 10:23am
Hi guy. I have just logged into my broker account and realize I am holding positions which I did not intend to hold, over the weekend.

The position was at the worst possible place. The position size was large. In fact very large compared to what I am currently trading. The current DD is very big.

The trade was done on Friday night, when I was out having dinner. Before I left my desk I always cancel any limit orders. Given that I normally use market order + my default trading size is much smaller, I seriously doubt I left a limit trade on before I left.

Is it possible to get hacked like this? I would like to know more if anyone here has any experience regarding hacked accounts. If not, I will have to re-valuate possibility of other causes...
Life is a school for the soul
  • #2
  • Jun 5, 2010 12:19pm Jun 5, 2010 12:19pm
Quoting esuffw
Hi guy. I have just logged into my broker account and realize I am...
Who is your broker? Raise an issue with them.

They should have logs and maybe they can see the IP.

BTW: Are you sure this is not a broker trick? Are you with a regulated one?
  • #3
  • Jun 5, 2010 12:23pm Jun 5, 2010 12:23pm
Quoting Adal
Who is your broker? Raise an issue with them.

They should have logs and maybe they can see the IP.

BTW: Are you sure this is not a broker trick? Are you with a regulated one?
I doubt a borker would have the audacity to try anything like this.

@ the OP: Contact them and explain the problem.

EDIT: PS. I trust that you have closed the position. Seeing as the trade was not planned... It should have been closed as soon as you noticed it existed. I'm not sure, but I would expect any delay in closing the trade would work against you when trying to get the losses incurred reversed. By waiting it out you would be accepting the trade and therefore risk.
Living the adventure in my head.
  • #4
  • Jun 5, 2010 12:41pm Jun 5, 2010 12:41pm
Quoting Adal
They should have logs and maybe they can see the IP.

BTW: Are you sure this is not a broker trick? .....
I completely agree! I would contact your broker and ask for a log of the IP's that have been accessing your account. This will let you know w/ the cold hard truth if it was YOU or a hack job!

Also get your log of times when the limits were placed to see if it is in the time frame you were placing your other limit orders.

Good Luck my friend! This is an absolutely horrifying experience to hear of and I pray you get this strait!
  • #5
  • Jun 5, 2010 12:46pm Jun 5, 2010 12:46pm
i trade futures and i had a similar experience. I thought all orders were closed and canceled but one was not canceled and was executed and next mourning when i woke up i saw on my platform i had an open position.

The position had gone my way, but it cold have easily gone against me.

If u want to discuss send me a pm.
  • #6
  • Jun 5, 2010 1:43pm Jun 5, 2010 1:43pm
I had something similar.. Let me explain what the problem was. Friday afternoon, so i closed all my scalping trades. Everything was ok untill my mt4 froze, then i forced close it. Then an amazing thing happened, when i reopened the mt4, 5 orders opened at same time on diferent pairs.. I nearly colapsed trying to close them imediatly.. After i got my blood on my veins again i understood it was.. a saved profile! It may hapen during a crash that after recover a diferent profile opens and though my expert (wich i use to help me manage trades) was ok and not allowing to open trades, metatrader opened them! My sugestion is.. delete all templates and profiles you have on your trading account. Hope that helps
"Hoe ur pips mate?" fxcarllos
  • #7
  • Jun 5, 2010 2:08pm Jun 5, 2010 2:08pm
Have you forgot about a previous stop or limit order? This happens to me from time-to-time. I place and stop order for entry and place a limit order for take profit. Sometimes I'll manually exit the open position, instead of letting the stop or limit order take care of that position for me, and forget to close out any pending orders that may still be in play .... even though I'm out of the position.
  • #8
  • Jun 5, 2010 4:40pm Jun 5, 2010 4:40pm
Quoting Mrezoot
I completely agree! I would contact your broker and ask for a log of the IP's that have been accessing your account. This will let you know w/ the cold hard truth if it was YOU or a hack job!

Also get your log of times when the limits were placed to see if it is in the time frame you were placing your other limit orders.

Good Luck my friend! This is an absolutely horrifying experience to hear of and I pray you get this strait!
I agree that this is a terrible experience for you. Tell us how it works out and if it is your broker, then please tell us who they are
  • #9
  • Jun 6, 2010 12:11am Jun 6, 2010 12:11am
Thank you guys

I will contact my broker on Monday to check the Time when the order was placed and the IP address of the log in. I will get back to you all to see how it goes.

Good Trading to all
Life is a school for the soul
  • #10
  • Jun 6, 2010 12:14am Jun 6, 2010 12:14am
Quoting Leonlorenzo
I doubt a borker would have the audacity to try anything like this.

@ the OP: Contact them and explain the problem.

EDIT: PS. I trust that you have closed the position. Seeing as the trade was not planned... It should have been closed as soon as you noticed it existed. I'm not sure, but I would expect any delay in closing the trade would work against you when trying to get the losses incurred reversed. By waiting it out you would be accepting the trade and therefore risk.
Thx Leon, I have placed a market order to exit first thing when market opens. It hurts taking the punch, but you are right, I am not going to take further risk of blowing my entire account.
Life is a school for the soul
  • #11
  • Jun 6, 2010 12:17am Jun 6, 2010 12:17am
Quoting Jhig
Have you forgot about a previous stop or limit order? This happens to me from time-to-time. I place and stop order for entry and place a limit order for take profit. Sometimes I'll manually exit the open position, instead of letting the stop or limit order take care of that position for me, and forget to close out any pending orders that may still be in play .... even though I'm out of the position.
I was thinking about this possibility. But given that the size was so big compare to my normal + default trading size, I am seriously in doubt.
Life is a school for the soul
  • #12
  • Jun 6, 2010 3:28am Jun 6, 2010 3:28am
What has happened to me long time ago trading with a well known very dubious broker, was that i tried to close an order, but nothing happened for a matter of minutes, then when i tried to close it again it worked instantly.
However what actually happened was that the first order worked (eventually) and the second went in as a new one, it did not show anywhere on the platform at the time, but when i woke up next day i had a nice fat margin call waiting for me, i was not happy
Biggest joker
  • #13
  • Jun 6, 2010 10:51am Jun 6, 2010 10:51am
hey barron, was this a futures or forex trade?
  • #14
  • Jun 6, 2010 12:38pm Jun 6, 2010 12:38pm
As traders, we should never hope.

But at this moment, I seriously pray and hope the market opens with a big gap up. Otherwise I am as dead as a fish in the mountains.

Waiting for market open to close my unwanted trade.
Life is a school for the soul
  • #15
  • Jun 6, 2010 2:07pm Jun 6, 2010 2:07pm
I had a situation where I cancelled a limit order, got an email confirming and the broker still executed the order.

I have in the past seen orders/positions appear and disappear on my account when trading with ig index, when I questioned this, they made some story about me needing to delete my cache, etc. The positions were much larger risk than I would take and potentially could have wiped my account out.

Hacking is can happen, but should be easy to spot. Do you get email confirmations of orders? did you receive an email?

Hope everything works out.
  • #16
  • Jun 6, 2010 7:13pm Jun 6, 2010 7:13pm
Quoting esuffw
As traders, we should never hope.

But at this moment, I seriously pray and hope the market opens with a big gap up. Otherwise I am as dead as a fish in the mountains.

Waiting for market open to close my unwanted trade.
I´m really curious to see if IP matches yours.. Can you send me a private msg with your broker´s?
"Hoe ur pips mate?" fxcarllos
  • #17
  • Jun 6, 2010 11:17pm Jun 6, 2010 11:17pm
Hey everyone

The broker have check all the details. The order was an systematic fault! I so glad it was not hacked.

What happened was, a profit taking limit was set from my apart. Since I use pyramid, the size was much bigger then my original size. Then, I changed the order to a market order to take profit. For some reason, the system leaves the original buy order there, without showing the order!

So it was later executed when price fell lower. Now I would never change a order ticket. I will just cancel it first, then enter a new one. Since I placed the order, I will have to pay for the losses (WHAT!). But due to systematic fault, I am currently asking for some money back. I shall see how it goes.

To make things clear, this is not a broker's trick. Its partly my and the brokers fault. Thanks for all you guy's input anyway. Have a great week trading.
Life is a school for the soul
  • #18
  • Jun 7, 2010 2:43am Jun 7, 2010 2:43am
Quoting Razorman
hey barron, was this a futures or forex trade?
Hey Razorman, it was Forex, when i first started about 5/6 years ago?
Biggest joker
  • #19
  • Jun 7, 2010 2:45am Jun 7, 2010 2:45am
The futures account will not let me close the platform without acknowledging there's open orders first...
Biggest joker
  • #20
  • Jun 7, 2010 2:49am Jun 7, 2010 2:49am
Quoting baron193
The futures account will not let me close the platform without acknowledging there's open orders first...
That's the same as some (all?) Currenex platforms, you get a message box pops up to advise of open trades/pending orders, quite useful as forgetting an order is easily done!

I'm not sure the OP's problem is the bröker's fault though, if a pending buy/sell order was placed to cover an open trade and then he executed a market order to cover it instead then the original order will still be active until cancelled.
0 traders viewing now