Bitcoin Forum
March 30, 2017, 09:14:52 AM *
News: Latest stable version of Bitcoin Core: 0.14.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Evil slippage on bitcoinica  (Read 1063 times)
speeder
Hero Member
*****
Offline Offline

Activity: 560



View Profile
November 18, 2011, 12:15:29 AM
 #1

So... I put a stop a 2.8

Then the huge selloff happened, and my actual buys happened at 2.5 for a MASSIVE loss.

How I prevent stuff like that from happening again?

1490865292
Hero Member
*
Offline Offline

Posts: 1490865292

View Profile Personal Message (Offline)

Ignore
1490865292
Reply with quote  #2

1490865292
Report to moderator
1490865292
Hero Member
*
Offline Offline

Posts: 1490865292

View Profile Personal Message (Offline)

Ignore
1490865292
Reply with quote  #2

1490865292
Report to moderator
1490865292
Hero Member
*
Offline Offline

Posts: 1490865292

View Profile Personal Message (Offline)

Ignore
1490865292
Reply with quote  #2

1490865292
Report to moderator
Be very wary of relying on JavaScript for security on sites such as blockchain.info and brainwallet.org. The site can change the JavaScript at any time unless you take unusual precautions, and browsers are not generally known for their airtight security.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
zhoutong
VIP
Hero Member
*
Offline Offline

Activity: 490


View Profile WWW
November 18, 2011, 12:48:17 AM
 #2

So... I put a stop a 2.8

Then the huge selloff happened, and my actual buys happened at 2.5 for a MASSIVE loss.

How I prevent stuff like that from happening again?

Unfortunately, technically you can't do anything to prevent things like this. You simply can't sell at any higher price during the sell off. And you can't give up selling either, because the price will dip further.

It rarely happens, most slippage is within the spread, but when bad things happen, we can't do anything about it.

Simply use less leverage, and distribute your stop orders in different price ranges to survive market manipulation.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
phantomcircuit
Sr. Member
****
Offline Offline

Activity: 464


View Profile
November 18, 2011, 08:52:58 PM
 #3

So... I put a stop a 2.8

Then the huge selloff happened, and my actual buys happened at 2.5 for a MASSIVE loss.

How I prevent stuff like that from happening again?

Think of a stop orders carry an inherent risk that someone will run the stops, I've been talking about this for a while.

Stop orders on volatile exchanges are pretty much a guaranteed way to lose.
zhoutong
VIP
Hero Member
*
Offline Offline

Activity: 490


View Profile WWW
November 19, 2011, 01:39:50 AM
 #4

So... I put a stop a 2.8

Then the huge selloff happened, and my actual buys happened at 2.5 for a MASSIVE loss.

How I prevent stuff like that from happening again?

Think of a stop orders carry an inherent risk that someone will run the stops, I've been talking about this for a while.

Stop orders on volatile exchanges are pretty much a guaranteed way to lose.

You're correct, but Bitcoinica doesn't publicize its order book. So running the stops most likely will be unintentional instead of targeted.

Founder of NameTerrific (https://www.nameterrific.com/). Co-founder of CoinJar (https://coinjar.io/)

Donations for my future Bitcoin projects: 19Uk3tiD5XkBcmHyQYhJxp9QHoub7RosVb
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!